Greek banks will run out of cash "in a matter of days," WSJ reports. Meanwhile, businesses are closing their doors as suppliers refuse to extend credit prompting the Athens Chamber of Commerce to predict that "in one week, two weeks, three weeks, it will be finished."
As Stalin said, “Those who vote decide nothing. Those who count the vote decide everything.”
When a message needs to be sent by the powers that be, the German press can always be relied upon to send it, no matter how divisive (as they did here, here, and here). So it is no surprise that with the stakes appearing to have never been higher, Handelsblatt unleashes the following...
The top 1 percent aren't killing the American Dream. Something else is - if you live in the wrong place. We like to tell ourselves that America is the land of opportunity, but the reality doesn't match the rhetoric - and hasn't for awhile.
"...between ridiculously low interest rates and the increasing costs of compliance, we can’t make money anymore..."
The US government has really screwed the world on this. Paperwork is the priority. Not business. The transition isn’t going to be smooth. And it won’t happen overnight. But there will come a time, and likely soon, when the United States gets displaced.
As one local reporter put it, despite being told not to say anything negative, "the government appeared to have lost its ability to manage the market." Chinese stocks are down 4-5% at the open, pressing new cycle lows with Shenzhen and CHINEXT now down 25% from last week. As The South China Morning Post reports, many investors said the government was at least partly to blame for the collapse because it encouraged them to go into the market - for months, state-owned media have issued daily commentaries to encourage people to load up on shares.
Government Trolls Are Using "Psychology-Based Influence Techniques" On YouTube, Facebook And TwitterSubmitted by Tyler Durden on 07/02/2015 21:15 -0400
"Though its existence was secret until last year, JTRIG quickly developed a distinctive profile in the public understanding, after documents from NSA whistleblower Edward Snowden revealed that the unit had engaged in “dirty tricks” like deploying sexual “honey traps” designed to discredit targets, launching denial-of-service attacks to shut down Internet chat rooms, pushing veiled propaganda onto social networks and generally warping discourse online."
While the Chinese recently found out that making money from trading is, in fact, not "easier than farmwork," it appears in America, trading stocks is back en vogue... Meet 2014 Playmate of the Year, Kennedy Summers, who has given it all up to become a day trader...
Hedges accounted for 15% of Q1 revenue for nearly half of North American E&P companies, Bloomberg reports. "Now the safety net is going away."
While it remains unclear if the Holy Spirit was behind these trades, one thing is for sure: When Charles Erickson's investors opened their recent statements, they said, "Holy $hit!"
“This is a war that I saw destroy lives... It eliminated a generation of African American men, covered our racism in ostensibly neutral guidelines and mandatory minimums… and created an intergenerational problem..."
In April, we noted the NACM's comments that "there are big, big problems" underlying the economy as a surge in unfavorable factors suggested credit conditions were tightening dramatically (only to see that data revised away suddenly). June's data has confirmed this weakness with credit rejections soaring to their highest since 2009 with the biggest spike in 9 years, with NACM CEO Kuehl exclaiming, "There are some obvious signs of distress in the manufacturing community, as the expected wave of consumer demand has yet to manifest... companies that have been awaiting it are getting in trouble with their creditors."
"Greece is being 'hit', there's no doubt about it," exclaims John Perkins, author of Confessions of an Economic Hit Man, noting that "[Indebted countries] become servants to what I call the corporatocracy ... today we have a global empire, and it's not an American empire. It's not a national empire... It's a corporate empire, and the big corporations rule."
Tick, tock... "it could never happen here?"