While Beijing dithers, and does its best to kick the can as far as it can without doing anything, it was too late for one person: on Friday morning, Dongbei Special Steel Group reported that the company's Chairman Yang Hua, 53, was found dead after hanging himself in his residence. Why? Because tomorrow the company has an 800 million yuan debt payment which it will not be able to make.
China Proposes Unprecedented Nationalization Of Insolvent Companies: Banks Will Equitize Non-Performing LoansSubmitted by Tyler Durden on 03/10/2016 10:48 -0400
In one simple move, Beijing is about to "guarantee" trillions in insolvent Chinese debt.
Attempts to control economic growth through government spending and/or manipulating interest rates (e.g., stimulate growth with low rates) generally leads to more severe crises. None of these things are recent phenomena, but can be found again and again throughout American history. Today, there is no party that favors true privatization or free markets. The solution, however, is simply to take as much power as possible out of the control of corruptible politicians and their special interest supporters.
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
"The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros. The sooner the better."
There’s only one investment we can think of that many people either love or hate reflexively, almost without regard to market performance: gold. And, to a lesser degree, silver. It’s strange that these two metals provoke such powerful psychological reactions - especially among people who dislike them. Nobody has an instinctive hatred of iron, copper, aluminum, or cobalt. The reason, of course, is that the main use of gold has always been as money. And people have strong feelings about money. From an economic viewpoint, however, money is just a medium of exchange and a store of value. Efforts to turn it into a political football invariably are signs of a hidden agenda, or perhaps a psychological aberration. So, let’s take some recent statements, assertions, and opinions that have been promulgated in the media and analyze them.
Obama's Vendetta With Gun Makers Gets Personal: Smith & Wesson Shares Plunge After Call For SEC InvestigationSubmitted by Tyler Durden on 12/15/2015 21:02 -0400
As it turns out, Obama is not a fan of efficient market irony and instead of letting the chips on gun control fall where they may especially if it means record stock prices for the shareholders of SWHC and RGR, the president has decided to take his vendetta with US gun makers to the next level and as the NYT reported overnight, "the New York City public advocate on Monday asked federal regulators to investigate whether the gun manufacturer Smith & Wesson had made adequate disclosures in its financial statements."
"What’s it like playing chess with Obama?" asks a top aid of Russian president Vladimir Putin. Putin replies, "It's like playing chess with a pigeon. First it knocks over all the pieces, then it shits on the board, and finally it struts around like it won."
The dream and demand of Bernie Sanders and all of the other "democratic socialists" of all political parties is that all or at least significant parts of human life need to be micromanaged and controlled by government so people may be liberated from the "tyranny" of not having all they may want without finding effective ways of acquiring it through honest and peaceful work. The "freedom" about which Bernie Sanders speaks, and before him Franklin Roosevelt, in fact, involves a loss of liberty into an even greater degree of political paternalism.
We’ve almost become numb to horrendous videos like these.. It seems like a new shocking police abuse video sweeps the nation almost every week. These viral videos help bring a small dose of accountability to government employees. And they don’t like it one bit. It’s all part of a long trend. The government will always try to shield itself from the fallout from its behavior. Another favorite tactic is to simply declare troublesome information “classified” or to withhold it because of “national security,” a vague and misused term. It’s an upside down situation. The government can monitor almost any aspect of the average citizen’s life whenever it wants. But it’s difficult to impossible for the average citizen to monitor the government. In a free society, the opposite would be true.
The lasting legacy of the First World War has been the rationales and implementations of paternalist Big Government in the Western world, with its diminished recognition and respect for individual liberty, free association, freedom of competitive trade and exchange, reduced civil liberties and weakened impartial rule of law. From this has followed the regulating and redistributing State, which includes political control and manipulation of the monetary and banking systems to serve those in governmental power and others who feed at the trough of governmental largess. It is a legacy that will likely take another century to completely overcome and reverse, if we are able to devise a strategy for restoring the idea and ideal of a society of liberty.
These banks, 6 years after the global financial crisis, are still facing shortcomings on their balance sheets... How scary is that?!
Depending on one’s point of view, Bernie Sanders either held his own or boosted his chances against perceived front-runner Hillary Clinton in Tuesday night’s Democratic presidential primary debate. Regardless of whether Sanders ultimately secures the nomination, the size and energy of the Bernie phenomenon should not be underestimated. If anything, libertarians consistently misjudge the degree to which socialist thought is deeply rooted in the American psyche.