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Bill Clinton Confirms "Wants Economic Role" In Hillary's Administration

Is this why stocks are slipping? Following Hillary's hint last night that she would like to put her husband in "charge of revitalising the economy, because you know he knows how to do it," Bill confirmed the farce this morning, admitting he has asked for an "economic role" in his wife's adminstration. As Yves Smith so eloquently noted, after having institutionalized the neoliberal economic policies that have enriched the 1% and particularly the 0.1% at the expense of everyone else, Hillary Clinton wants to give the long-suffereing citizenry an even bigger dose. Good luck America.

The Endgame

There is a growing fear in financial and monetary circles that there is something deeply wrong with the global economy. Publicly, officials and practitioners alike have become confused by policy failures, and privately, occasionally even downright pessimistic, at a loss to see a statist solution. It is hardly exaggerating to say there is a growing feeling of impending doom. In short, growing evidence of price inflation and stagnant production can be expected to materially increase the risk of a global banking and currency meltdown. The best escape-route is ownership of anything other than purely financial assets and fiat currency deposits. No wonder the price of gold, which is the soundest of moneys, appears to have entered a new bull market.

The Tinaco-Anaco Railway Line: A Look At How China Overextended In A Failed Venezuela

The Tinaco-Anaco Railway, a $7.5 billion project that was supposed to have a consortium of Chinese companies display to the world their engineering and construction capabilities. A glorious 300 mile long railway was to be built in Venezuela, moving 5 million passengers and 9.8 million metric tons of cargo a year, at speeds of up to 135mph. Today, however, the project is dormant. All that ended up on display, however, is simply a broken down arch that is at the entrance of the railroad workers complex. A symbol of both a failed Venezuelan state, and a carefree China lending program.

How Hedge Funds Invest Heavily In Washington D.C.'s Culture Of Corruption

If you want to get a sense of what’s motivating Donald Trump and Bernie Sanders voters, it’s a desire to take people like Robert Shapiro, remove them from the halls of power, and toss them into a cardboard box on the street. Of course, that won’t be happening any time soon, but that’s what a lot of people want. As we detail below, confirmed recently by Congressman X, Washington is infested by the secretive world of the dark money groups representing mercenary hedge funds in their insatiable quest for more and more money. In many ways, it’s merely a microcosm of America in 2016. A culture in which ethics has become so irrelevant, it isn’t even a nuisance; it simply never factors into the equation.

Heretical Thoughts And Doing The Unthinkable

According to the “social contract theory,” we all have our roles and responsibilities. As citizens, we have a duty to inform ourselves, pay our taxes, rat out our neighbors, vote, volunteer for military service, get frisked by the TSA... and let ourselves get robbed and bullied by every jackass in a position of power. Our leaders have responsibilities, too. They are supposed to respect the constitution, except when it is inconvenient for them. Our “leaders” – aka the Deep State – can change the terms any time they want. What kind of contract is it where one party can change the deal and the other can’t? And where the other party was never given the opportunity to negotiate it, or even approve it? It’s not a contract at all. It’s just part of the mythology of modern democracy.

Satyajit Das Is "Astonished Investors Haven't Raised Pitchforks At Policy-Makers"

"They’re going to have to stop people from taking out cash... I would argue that it’s not going to be able to be dealt with, and it creates enormous social and political pressures… What we’re going to see is a period of financial repression, which is very, very dangerous... I honestly don’t know how it’s going to end. In the 1920s and 1930 when similar pressures built up, it didn’t actually have a very good ending."

The Destabilizing Consequences Of Globalization

This globalization of price - for goods, services, credit and currencies - continually creates imbalances that fuel a perpetual instability that gradually impoverishes every sector other than global capital, which being mobile, can exploit the imbalances for its own profit. Who benefits over the longer term from the permanent instability and boom-and-bust cycles of this arrangement? Only those close to the credit spigots of central banks.

The Biggest Source Of Global Growth In 2016 Is About To Hit A Brick Wall

crash car testAfter issuing a record $1 trillion in combined bank and shadow loans in the first quarter which just like during the financial crisis provided a short-term catalyst for global growth (and sent China's debt/GDP to new all time highs) China's dramatic debt issuance binge is about to hit a brick wall. The reason: combined new loans in April by the Big Four state-owned banks were more than halved from March's level.

June 2003 - The Fed's Brief Moment Of Clarity

We have referred to the June 2003 FOMC meeting many times before and we suspect that we will continue to do so long into the future. It was one of those events that should be marked in history, truly relevant to the future developments that became panic and now sustained economic decay. It’s as if the committee members at that time anticipated their current powerlessness – yet did nothing about it. Their preferred course from that moment until August 2007 was relieved ignorance, as Greenspan admitted at the time, " I don’t think we know enough about how the private financial system works under these conditions [sub-1% rates],  I don’t believe, that we can construct an effective preemption strategy. Well, we can construct a strategy, but I’m fearful that it would not be very useful."

Futures Halt Selloff, Levitate Higher On Another USDJPY Spike; Oil Rises

If yesterday's selloff had a specific catalyst, namely some of the worst consumer retail earnings seen in years, it merely undid the Tuesday rally which levitated global risk with no fundamental driver, aside for a 200 pip spike in the USDJPY.  Some central bankers may even say it was a "magical" levitation. Fast forward to the overnight session when following a muted Asian session, it was once again up to the "magical" USDJPY to send stocks well into the green without any actual catalyst whatsoever, but what merely appears to have been another "magical" intervention session by the BOJ.

What Manipulation Does To The Free Market

Had the federal government held a constant measuring stick rather than "tinkering, engineering, distorting" key government calculations such as the size of the economy (GDP), the rate of inflation, level of unemployment, or size of federal deficits and federal debt...the reality we face would be plain and honest choices needed.  Instead, the responsibility of those working for "the people" has been breached via falsifying and distorting each of these (over decades).  This consistently improves the output and does not allow a true means to quantify and qualify the nations health.  Simply put, the government has continually tinkered, tampered, and distorted the accounting so as to mislead or create a falsely positive appearance.