White House

Tyler Durden's picture

Guest Post: We've Dug A Pretty Damn Big Hole For Ourselves





“Recovery” has become the shibboleth constantly invoked by people running things after the crisis of 2008. Unfortunately, no such recovery was underway. It was papered over by the twin Federal Reserve policies of quantitative easing and financial repression – a combination of the nation’s central bank loaning vast new amounts of money into existence at ultra-low interest rates (hardly any interest to pay back) and creating steady monetary inflation to reduce the burden of existing debt by shrinking the dollar value of the debt. The program was a racket in the sense that it was fundamentally dishonest. The presumed purpose of these shenanigans from the point of view of the Federal Reserve and the White House was to keep the financial system stable and afloat, and therefore to keep “normal” American daily life going. Unfortunately, it was based on the unreal assumption that the financial norms of, say, 2006 could be ginned back up again, and this premise was just inconsistent with the reality of a post-Peak-Cheap-Oil world. Unfortunately, there was no organized counter-view to this wishful thinking anywhere within the boundaries of the political establishment.

 
Tyler Durden's picture

Dzhokhar Tsarnaev Charged With Using Weapon Of Mass Destruction, To Face Death Penalty





 
Tyler Durden's picture

Frontrunning: April 22





  • Turn to Religion Split Bomb Suspects' Home (WSJ)
  • The propaganda is back for the 4th year in a row: Spring Swoon Sequel No Reason for Economic Growth Scare in U.S. (BBG)
  • Bernanke Jackson Hole Absence Contrasts With Greenspan Adulation (BBG)
  • Large economies promise to boost growth (FT)
  • Tata Faces Crisis as $20 Billion Spent on Water (BBG)
  • U.S. Eyes Pushback On China Hacking (WSJ)
  • Fed's Bernanke sees no U.S. inflation risks: Nowotny (Reuters)
  • Austerity on Trial With U.S. Versus Europe Amid New Evidence (BBG)
  • Eurozone anti-austerity camp on the rise (FT)
  • Spain Aims to Soften Budget Cuts (WSJ)
  • Japan's Aso Calls Recovery 'Few Years' Away (WSJ)
  • BOJ Said to Consider Price Forecast Upgrade (WSJ)
 
smartknowledgeu's picture

Why the Western Banking Cartel’s Gold and Silver Price Slam Will Backfire - And How You Can Protect Yourself from the Blowback





Let's get down to the facts of the recent banker gold & silver paper price smash and the lies about the banker gold & silver paper price smash being propagated by the mass media and banking shills like Paul Krugman so everyone can understand why this smash will blow up in the face of the very bankers that executed it at some point down the road. Retail individuals AND global institutions all around the world are finally beginning to understand that physical ownership of gold and silver is how to counter banker fraud & intervention into the gold and silver markets and this realization is going to produce massive blowback.

 
Tyler Durden's picture

QBAMCO On Unreserved Credit Growth And Imperial Constraint





Due to decades of unreserved credit growth that temporarily boosted the appearance of sustainable economic growth and prosperity, rational economic behavior cannot produce real (inflation-adjusted) economic growth from current levels. The nominal sizes of advanced economies have grown far larger than the rational scope of production that would be needed to sustain them. This fundamental problem explains best the current state of affairs: malaise (i.e., bank system de-leveraging and economic stagnation) spreading through the means of production and the need for increasing policy intervention to stabilize goods, service and asset prices (by depressing the first three and inflating the last?). We live and work in a contrived meta-economy that can be managed through narrow channels in financial and state capitals. Given the overwhelming past misallocation of capital cited above, we think the most important realization for investors in the current environment is that price levels of goods, services and assets may be biased to rise but they are not sustainable in real (inflation-adjusted) terms. The crowd is ignoring the obvious, as all signs point towards the next currency reset.

 
Tyler Durden's picture

What Exactly Did Obama Say To Wall Street's CEOs Last Thursday?





Correlation is not causation; but coincidence means you're on the right path. Looking at the charts of Stocks, Commodities, and Precious Metals, we wonder just what it was that President Obama said at his 11amET White House meeting last Thursday...

 
Tyler Durden's picture

Obama Receives Ricin Letter - White House Webcast At 11:45 EDT





Yesterday Sarin for Senators, now suspicious substances sent to Obama? CNN reports:

  • LETTER WITH SUSPICIOUS SUBSTANCE WAS SENT TO OBAMA: CNN
  • SECRET SERVICE: SUSPICIOUS LETTER TO OBAMA RECEIVED YESTERDAY
  • CNN says letter was found at off-site mail-screening facility, substance is unknown, cites unidentified Secret Service officials.

It appears the "suspicious substance" was not a balanced budget, but sarin toxin instead, as the letter received in the Senate yesterday.

Suspicious letter addressed to Obama has tested positive for ricin (as did letter to Sen Roger Wicker (R-MS)

Our take home from all of this is that the USPS appears to still be in business. Amazing.

 
Tyler Durden's picture

Five More Undetonated Bombs Found In Boston; Death Toll Rises To 3





UPDATE: *AT LEAST 3 PEOPLE HAVE DIED IN MARATHON BLASTS: BOSTON POLICE

In the aftermath of the Boston Marathon explosions, the WSJ is reporting that counterterrorism officials have found what they believe to be five additional, undetonated explosive devices around the Boston area. The devices - which are in addition to the two that exploded near the finish line of the marathon - were discovered over the course of a frantic inspection of suspicious packages. Each had been rendered inoperative or was in the process of being rendered inoperative. A White House official said: "Any event with multiple explosive devices - as this appears to be - is clearly an act of terror."

 
Tyler Durden's picture

Large Explosions Reported At Boston Marathon; Numerous Injuries And Casualties





North Korea's daily war bluffs may be (rightfully) ignored by the market, but an unexpected and tragic development comes out of Boston, where local media reports of two explosions and numerous injuries:

AT LEAST 12 INJURED IN BOSTON MARATHON BLAST: BOSTON HERALD
BOSTON BLAST SEEM CENTERED IN `TRASH CAN': BOSTON HERALD
CNN CITES SOURCE ON REPORTS OF DEVICE AT BOSTON MANDARIN HOTEL
AT LEAST 3 DEAD AT BOSTON MARATHON, FOX NEWS CITES SOURCE
BOSTON POLICE SAY "SECONDARY DEVICES" ARE STILL BEING FOUND

 

 
Bruce Krasting's picture

America Fast Forward - In Reverse





One element of the President's budget is a sham.

 
Tyler Durden's picture

Guest Post: The Tunnel People That Live Under The Streets Of America





Did you know that there are thousands upon thousands of homeless people that are living underground beneath the streets of major U.S. cities?  It is happening in Las Vegas, it is happening in New York City and it is even happening in Kansas City.  As the economy crumbles, poverty in the United States is absolutely exploding and so is homelessness.  In addition to the thousands of "tunnel people" living under the streets of America, there are also thousands that are living in tent cities, there are tens of thousands that are living in their vehicles and there are more than a million public school children that do not have a home to go back to at night.  The federal government tells us that the recession "is over" and that "things are getting better", and yet poverty and homelessness in this country continue to rise with no end in sight.  So what in the world are things going to look like when the next economic crisis hits?

 
rcwhalen's picture

Bank Earnings Taxed by QE2, Massive Regulation





Cost reductions and layoffs are the drivers for bank earnings... Watch those ski tips.  

 
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