• Pivotfarm
    05/26/2015 - 16:54
    We have fast-paced lives, we pay to get fast-tracked, we eat fast-food and we fast-forward on a film that bores us. Our lives are fast. We even have fast fashion; our clothes are fast these days from...

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Pitchfork Populism & The Ghost Of 1937





With the Fed supposedly steeling itself at last to remove a little of its emergency ‘accommodation’, it has suddenly become fashionable to warn of the awful parallels with 1937 as an excuse The Fed must not act today. We strongly refute the analogy. Instead, the real Ghost of ’37 takes the form of mean-spirited and, counter-productive 'pitchfork populism' politics and the spectre should not be conjured up to excuse the central bank from further delaying its overdue embarkation on the long road back to normality and policy minimalism.

 
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Peter Thiel Blasts: The American Political System Is "Not A Democracy Or Constitutional Republic"





Calling our society a democracy is very misleading... We’re not a republic; we’re not a constitutional republic. We live in a state that’s dominated by these technocratic agencies.” Thiel says that organizations like the Federal Reserve have been allowed to roam too far, calling government agencies “deeply sclerotic and deeply nonfunctioning.”

 
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Here We Go: Goldman Declares That "The Right Policy Would Be To Put Hikes On Hold For Now"





"It is hard to be “reasonably confident” in the inflation outlook given current economic conditions, unless several inflation drivers rise at the same time. We therefore do not have much confidence in the inflation outlook and believe that the right policy would be to put hikes on hold for now."

- Goldman Sachs

 
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Japan Admits Fabricating 2014 Wage Growth Data





At this point calling Japan a failed Keynesian banana republic is an insult to banana republics everywhere.

 
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What Would Happen If Martial Law Was Declared In America?





In recent weeks, there has been a lot of concern that an upcoming eight week military exercise on U.S. soil known as “Jade Helm” is actually a dress rehearsal for the imposition of martial law in this country. As our world becomes increasingly unstable, and as our society rapidly decays from within, many believe that it is only a matter of time before the executive branch will have sufficient excuse to use the extensive martial law powers that it has been accumulating since 9/11. When that day arrives, what will our nation look like? What would actually happen if martial law was declared in America?

 
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The Economic Wall Dead Ahead Is Hidden Behind False Signs Of "Recovery"





This morning I had left the TV mistakenly tuned to CNBC with the sound on - and unavoidably caught another bullish strategist jawing about the US economy’s awesome strength. This one was peddling as exhibit #1 the recent surge in C&I loans, arguing that it is a sure sign that business is gearing up for a post-winter boom. In this case, like most of the blizzard of bullish factoids spewed out each day on bubble vision, the purported business lending boom is not all that.

 
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Massive Fire Engulfs Fuel Tanks At Latin America's Largest Port





Earlier today, there was some good news for Brazil's largest energy major Petrobras when as we reported earlier, none other than China through its CDB, agreed to lend $3.5 billion to the foundering energy giant. That was quickly offset by bad news later in the day when a massive fire broke out at a fuel tank storage facility in Brazil’s port of Santos, Latin America’s largest, forcing some eighty firefighters to battle a raging inferno which consumed facilities located next to Norway’s Stolt-Nielsen Ltd and Transpetro, a subsidiary of state-run oil company Petrobras.

 
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The Committee To Destroy The World





Now we can see the real tragedy of negative interest rates: they not only have the perverse effect of reversing the flow of time, but they demonstrate that borrowers are not acting with the good faith incentives normally associated with someone who needs money. Rather than paying forward, borrowers are paying backwards because they are effectively trying to return something they don’t want. Such an arrangement renders it impossible for an economy to grow. By destroying the temporal and moral structure of money, negative interest rates destroy the economy. When tomorrow cannot be paid, the current regime must fail. The only question to be determined is the form that failure will assume. This may sound like philosophy but it is cold, hard reality.

 
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The "Mysterious" Source Of Surging Demand For GM Cars, Revealed





With both channel stuffing and subprime out of the window if only for the time being, GM, whose China sales are falling off a cliff, had to come up with some urgent source of end demand. And thanks to recently disclosed data, we now know that "once a Government Motors, always a Government Motors", because just the first quarter of 2015, the average annual increase in sales to Uncle Sam, aka the Government was a whopping 24%, just  about 100% higher than GM's headline rate of sales increase!

 
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Bild Reports On "Indisputably Authentic" Video Of Germanwings Final Moments





The scenes seen on the video were chaotic and very wobbly, said Bild, adding, screams and shouts of "My God" in various languages could be heard, indicating the passengers knew what was happening.

 
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Bad News For America's Biggest Housing Bubble: San Francisco Home Prices Suffer Biggest Drop In Three Years





It was not only the annual growth rate of only 7.9%, matching the lowest since the European debt bubble burst in 2010, but also the sequential rate of price drops, at -0.9% - the biggest monthly drop in three years, or since January 2012 - that will once again be a subject for concern of housing watchers. Because should the price decline resume its acceleration without any emerging tailwinds to prop up the local housing market, then there will surely be some severe fallout such as this peak housing bubble example, in which as Curbed reported last week, a run down shack which listed for $799,000 sold for 50% more, or $1.2 million a few weeks later!

 
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Did Reuters Falsify The Testimony Of A MH-17 Crash Witness?





Did Reuters fabricate a key part of its story about the downing of flight MH-17 in which the media outlet revealed "new evidence on downing of Malaysian plane over Ukraine." According to the main witness Reuters supposedly interviewed, the answer is yes: “When we talked about the Boeing on camera, I explained everything as I saw it. The things that I allegedly said off-camera, all this nonsense, was made up by the journalist himself. It's all lies, because off-camera, we never discussed the Boeing, and just spoke about life, about the current situation, so to speak.

 
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How Money Creation Threatens Hyperinflation





Creating even more money will not help the situation, only exacerbate it. Hyperinflation is a cancer that lurks in our monetary structure. Time to surgically remove it before it metastasizes.

 
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