Throughout history, in most cases of economic collapse the societies in question believed they were financially invincible just before their disastrous fall. Rarely does anyone see the edge of the cliff or even the bottom of the abyss before it has swallowed a nation whole. This lack of foresight, however, is not entirely the fault of the public. It is, rather, a consequence caused by the manipulation of the fundamental information available to the public by governments and social gatekeepers.
U.S. Ignoring Earthquake Risks to Nuclear Plants
The talking heads will be rolled out on CNBC to assure the masses that all is well. The economy is strong. Corporate profits are awesome. The stock market will go higher. Op-eds will be written by Wall Street CEOs telling you it’s the best time to invest. Federal Reserve presidents will give speeches saying there are clear skies ahead. Obama will hold a press conference to tell you how many jobs he’s added and how low the budget deficit has gone. We couldn’t possibly be entering phase two of our Greater Depression after a temporary lull provided by the $8 trillion pumped into the veins of Wall Street by the Fed and Obama. Could we?
The U.S. Backed the Dictators Whose Rampant War Crimes Destroyed their Healthcare System
"[A] crash is coming, and it may be terrific... The vicious circle will get in full swing and the result will be a serious business depression. There may be a stampede for selling which will exceed anything that the Stock Exchange has ever witnessed. Wise are those investors who now get out of debt."
When Lee Goldsmith drives by one of the many fake cellphone towers being discovered throughout the U.S., his $3,500 CryptoPhone 500 will immediately display the warning message in the thumbnail image to the left. When you drive by the same fake towers, known as “interceptors,” your run of the mill iPhone or Samsung Galaxy won’t alert you to any potential security breach. And that’s exactly how those people who installed these interceptors, whoever they are, like it. What Lee Goldsmith and other users of the CryptoPhone 500 have discovered while driving across part of America will shock and disturb you.
Troops Deployed In West Africa Ebola Clinics As 2 More Nigeria Cases Revealed; Saudi Blocks TravelersSubmitted by Tyler Durden on 08/05/2014 17:17 -0500
Hundreds of troops are being deployed across West Africa in an effort to maintain peace and quarantine. As Liberian health officials warned, "The situation will probably get worse before it gets better." Following Monday's announcement that it will not issue pilgrimage visas to pilgrims from Sierra Leone, Guinea and Liberia due to concerns regarding the spread of the Ebola virus, Saudi Arabian officials have admitted they are testing samples from a man who had returned recently from a business trip to Sierra Leone for suspected Ebola infection. But it gets worse. As The Nigerian Tribune reports, Nigerian officials has revealed that two people have Ebola-like symptoms after contact with the dead Liberian Ebola victim, Patrick Sawyer. The CDC Director is "deeply concerned" about spread of Ebola in Lagos (4th most populous city in the world).
- New War Risk on Russia Fringes Amid Armenia-Azeri Clashes (BBG)
- Palestinians accuse Israel of breaking seven-hour Gaza truce (Reuters)
- Argentine Default Sours Outlook for Peso as Talks Ordered (BBG)
- Espírito Santo Saga Entangles Swiss Company (WSJ)
- Booming African Lion Economies Gear Up to Emulate Asians (BBG)
- CME Profit Falls as Trading Volume Declines (WSJ)
- Why Recalled Cars Stay on the Road (WSJ)
- London Renters Win in Billionaire Backyard as Prices Soar (BBG)
- Junk-Debt Liquidity Concerns Bring Sales (WSJ)
- Rescuers race to find survivors after 400 die in China quake (AFP)
Despite a full court press of PR to confirm HFT firms are friends of retail investors and do no wrong; the SEC, it appears, sees it differently. While Mary White has confidently explained the market is not rigged, her agency is now actively seeking tips, complaints, or referrals that show, as The Chicago Tribune reports, evidence of abuse of order types, as well as traditional forms of abusive trading like "layering" or "spoofing" and other issues relating to high-frequency trading that might be violations of the law. Here are the 10 firms (including poster child holy-grail trader Virtu Financial) that the SEC is probing... can you spot the oddly missing one...
"The system we have now is one in which the Fed decides, through a Politburo of planners sitting in Washington, how much liquidity is necessary, what the interest rate should be, what the unemployment rate should be, and what economic growth should be. There is no honest pricing left at all anywhere in the world because central banks everywhere manipulate and rig the price of all financial assets. We can’t even analyze the economy in the traditional sense anymore because so much of it depends not on market forces, but on the whims of people at the Fed."
"Only through a historical perspective can we fully understand the profound developments of our time and glean, perhaps only dimly, where they are taking us. One thing is clear: they are taking us into a new era. The only question is how much disruption, chaos and bloodshed will attend the transition from the Old Order to whatever emerges to replace it."
- Why did Yellen use criminals in her employment case studies? Hilsenrath explainz (Hilsenrath)
- GM avoided defective switch redesign in 2005 to save a dollar each (Reuters)
- Xuzhou Zhongsen Said to Avert Bond Default on Guarantor Aid (BBG)
- France's New Finance Minister Faces Fiscal Challenge (WSJ)
- The magic is gone: Draghi’s Attempt to Talk Down Euro Lost on Traders (BBG)
- Another John Kerry smashing success: U.S. Gambit on Mideast Peace Talks Falters (WSJ)
- Combat-Ready China Military Seen as Xi’s Goal in Graft Battle (BBG)
- Huge earthquake off Chile's north coast triggers tsunami (Reuters)
- Pressure rises on Gross as investors pull $3.1 billion from Pimco's flagship fund (Reuters)
Just a few short weeks ago we reported on the unusual suicide, due to self-inflicted nail-gun wounds, of Richard Talley, CEO of Denver-based American Title Services. The death of the 57-year-old banker was accompanied by the fact that his firm was under investigation by the insurance regulators, and now, as The Denver Post reports, state prosecutors launched a criminal investigation and a grand jury over more than $2 million missing from escrow accounts. As part of that inquiry, investigators have seized about 100 boxes of documents and about 60 computers as records suggest the seemingly successful title business had serious financial problems. Talley's wife, Cheryl, who owns the other 60% of the firm has not commented.
If you are not Professor Paul Krugman you probably agree that Washington has left no stone unturned on the Keynesian stimulus front since the crisis of September 2008. By the time the “taper” is over later this year (?) the Fed’s balance sheet will exceed $4.7 trillion - $4 trillion in new central bank liabilities in six years. All conjured out of thin air. Professor Krugman proposing to “do something”... In short, Krugman wants to double-down on the lunacy we have already accomplished. Unfortunately, we are presently nigh onto “peak debt”; there is no “escape velocity” because the Fed’s credit channel is broken and done. Going forward, the American people will once again be required to live within their means, spending no more than they produce. By contrast, Professor Krugman’s destructive recipes are entirely the product of a countrafactual economic universe that does not actually exist. He wants us to borrow and print even more because our macro-economic bathtub is not yet full. And that part is true. It doesn’t even exist.
- Ukraine Seeks $35 Billion as Yanukovych Warrant Is Issued (BBG)
- Ukraine's fugitive president wanted for mass murder (Reuters)
- Polar Vortex to Bring More Snow on Return to U.S. This Week (BBG)
- China property prices continue to rise (FT)
- Microsoft Said to Cut Windows Price 70% to Counter Rivals (BBG)
- Pentagon to propose shrinking Army, scrapping some jets (Reuters)
- Hedge Funds Turn Bearish on S&P 500 as VIX Advances (BBG)
- Draghi’s Data Jigsaw Takes Shape as ECB Readies Showdown (BBG)
- China, eyeing Japan, seeks WW2 focus for Xi during Germany visit (Reuters)