As 2,200 former Wal-Mart employees struggle to understand how "plumbing issues" could have possibly cost them their jobs literally overnight, and as the Labor Relations Board considers a complaint suggesting the retailer is using "clogs and leaks" as a pretense for retaliating against employees campaigning for workers' rights, a California city is set to lose 10% of its total tax revenue. Meanwhile, the plumbing mystery deepens.
"I explained that it was the brand new Apple Watch and they laughed in a really deliberately hurtful way. The accounts assistant said it was the opposite of a fanny magnet and everyone cracked up..."
Seven years ago, the U.S. Army War College issued a report calling on the military to be prepared should they need to put down civil unrest within the country. Summarizing the report, investigative journalist Chris Hedges declared, “The military must be prepared, the document warned, for a ‘violent, strategic dislocation inside the United States,’ which could be provoked by ‘unforeseen economic collapse,’ ‘purposeful domestic resistance,’ ‘pervasive public health emergencies’ or ‘loss of functioning political and legal order.’ The ‘widespread civil violence,’ the document said, ‘would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security.’” At what point will all of the government’s carefully drawn plans for dealing with civil unrest, “homegrown” terrorism and targeting pre-crime become a unified blueprint for locking down the nation?
As IBTimes reports, Goldman Sachs paid Bill Clinton $200,000 for a speech just before lobbying the State Department (then run by Hillary Clinton) on legislation involving the Export-Import Bank, which was set to provide the financing for the purchase of millions in aircraft from a company partially owned by the Wall Street bank.
When hope becomes crushed by the system, all you’re left with is fear and anger. That’s what we’re seeing in Baltimore. Everybody has a breaking point. And more and more people are starting to reach theirs. This isn’t just about racism. We’ve been force-fed a toxic monetary system that has destroyed any hope of upward mobility and long-term security.
What was once anathema has become conventional wisdom, and lately the only question when discussing the fate of Greece is not if but when it will default. Actually, there is another question: how? Because as the following UBS flow chart shows, when it comes to the matter of picking an obligation on which to not make a payment, Greece has a truly 5 star menu selection....
“Promoted by the intellectual glitterati of the central banks, our economic system has become addicted to all forms of debt, much of which has been unproductive." The seemingly universal agreement that the prerequisite for a healthy economy is the growth of debt at all costs highlights both a lack of discipline and an aversion to consider different ideas on the part of economic policy-makers.
Not long ago we noted that contrary to the old adage, money can indeed buy happiness. Given this, it stands to reason that the converse is likely true as well. That is, no money probably contributes to unhappiness. Sure enough...
In the Common Knowledge Game, fundamentals – whether they are of the stock-picking sort or the macroeconomic sort – don’t matter a whit, and your personal view of those fundamentals matters even less. The only thing that matters is whether or not the QE-works lesson has been absorbed by the learning process of investment professionals, and that’s driven by the lesson’s transformation into common knowledge by Missionaries (like Deutsche Bank's Torsten Slok).
While day after day we are bombarded with musings from talking-heads proclaiming that no matter what happens in the future, buying stocks and buying moar stocks is the way to go, the data has a different story to tell. As Goldman Sachs notes, at a forward PE of 17.5x, the equity market looks more expensive today than it was during any of the last four cycles. Furthermore, as Goldman puts it, we find it more challenging to rationalize the current high PE multiples.
Warfare today (and in the future) is (and will be) fought differently. In the 1950’s with the creation of more destructive bombs and weaponry, the idea was ‘Mutually Assured Destruction’ (MAD). The movie War Games helped us learn that there are no winners. The warfare ideology today is ‘Multilateral Unconstrained Disruption’ (MUD). This unrestrictive warfare is meant to disrupt societal functioning; to ‘poison’ information to elevate distrust of all computer information. Cyber-activity is the new ‘cold war’.
"...my greater source of personal concern, outrage... is focused upon an American political elite that have shipped middle class and working class jobs away from Baltimore and cities and towns around the US... plunged tens of millions of good hard-working Americans into economic devastation... in order to control an unfairly impoverished population living under an ever-declining standard of living and suffering at the butt end of an ever-more militarized and aggressive surveillance state."
Dear CFTC, it's us again and today we bring you 3 examples of spoofing in gold futures which should help out in your very serious quest to eliminate all vesitges of illegal manipulation from our beloved markets.
Against expectations of a 3.3mm bbl build, API reported a 4.2mm bbl build - the 16th weekly build in a row (and record streak). Cushing saw a small draw of 162k bbls. WTI Crude fell back below $57...