Florida

Confused where all the inflation that the Fed is either unable, or simply refuses to measure, is hiding? The answer: right under your roof.

"Washington broke arms and heads to get that 60th vote—not one to spare—to impose on the American people a plan which imperils their jobs, wages, and control over their own affairs. It is remarkable that so much energy has been expended on advancing the things Americans oppose, and preventing the things Americans want. The same routine plays out over and again. We are told a massive bill must be passed, all the business lobbyists and leaders tell how grand it will be, but that it must be rushed through before the voters spoil the plan. And when ordinary Americans who never asked for the plan, who don’t want the plan, who want no part of the plan, resist, they are scorned, mocked, and heaped with condescension."

In the wake of the Chicago downgrade, state and local governments are moving away from Moody's as the ratings agency questions pension fund return assumptions. 

Don’t mess with Texas. Particularly if you happen to be a person who enjoys the freedom to purchase lemonade from two adorable little girls trying to raise money to buy their dad a Father’s Day gift. In that case, you better watch out. The cops are on the case, ever vigilant to protect the unsuspecting citizen from the perils of contraband juice.

Is something really big about to happen?

"As young technology companies jostle for investors who will pour money into the firms as they try to make it big and strike it rich, some companies are using unconventional financial terms," WSJ reports. This will end badly for someone, if not for the founders and VCs who will have long since cashed out with their fortunes in tow by the time reality comes calling and everyone suddenly realizes that valuing companies that have no hope of monetizing their product at infinty-times-daily-direct-eyeballs was probably not a great idea.

For those concerned if their city is among the top most frequented by this particular, and very unpleasant, breed of "zombies", here are the top 50 cities in the US in which zombie foreclosures represent the highest percentage of all properties in foreclosure. For those readers certainly located among the Top 10, now may be a great time to hit a bid, any bid and get out while the getting is good.

Most Americans are deathly afraid to go to the hospital these days – and it is because of the immense pain that it will cause to their wallets.  If you want to get on a path that will lead you to bankruptcy, just start going to the hospital a lot.  In America today, hospitals and doctors are blatantly ripping us off and they aren’t making any apologies for it.  As you will read about below, some hospitals mark up treatments by 1,000 percent.  If the U.S. health care system was a separate country, it would actually be the 6th largest economy on the entire planet.

"Ultimately I think to deal with Putin you need to deal from strength - he's a bully and ... you enable bad behavior when you're nuanced with a guy like that."

Miami condo price appreciation has flatlined for the first time in at least six years as a strong dollar weighs on foreign demand. But don't worry, "this is a different market. You're not going to have a bubble burst". 

Many of you undoubtedly think that your education is now over and it’s time to enter the “real world.”  I have news for you: you’ve been in that world for the last four years, hence the debt you’re dragging around behind you.  So, on a day when the sun’s in your eyes and it couldn’t be more apparent that the world’s not what you’ve been told it was, maybe you should apply the principles of the scam artist to the world you’re about to enter.  Unless you do so, you’ll simply be scammed again in the next phase of your life.

• Europe shares set for worst week of 2015 (Reuters)
• Jobs Report Not Likely to Trigger June Rate Hike (Hilsenrath)
• U.S. jobs market seen firming despite lackluster growth (Reuters)
• Gross Says Bond Rout Scary as Hell Even Without Bear Market (BBG)
• Apple Is the New Pimco, and Tim Cook Is the New King of Bonds (BBG), which ZH said in 2013
• In 'year of Apple Pay', many top retailers remain skeptical (Reuters)
• OPEC Nations Signal Few Prospects for Oil-Production Change (BBG)
• China regulator says amending rules on margin trading, short selling  (Reuters)

The fact that civil asset forfeiture continues to exist across the American landscape despite outrage and considerable media attention, is as good an example as any as to how far fallen and uncivilized our so-called “society” has become. It also proves the point demonstrated in a Princeton University study that the U.S. is not a democracy, and the desires of the people have no impact on how the country is governed.

Ever wondered what life would be like if a country actually disappeared off the face of the planet or at least transformed into something else?