Submitted by Tyler Durden on 08/29/2015 - 20:00
Having recently explained (in great detail) why QE4 (and 5, 6 & 7) were inevitable (despite the protestations of all central planners, except for perhaps Kocharlakota - who never met an economy he didn't want to throw free money at), we found it fascinating that no lessor purveyor of the status quo's view of the world - Citigroup's chief economist Willem Buiter - that a global recession is imminent and nothing but a major blast of fiscal spending financed by outright "helicopter" money from the central banks will avert the deepening crisis. Faced with China's 'Quantitative Tightening', the economist who proclaimed "gold is a 6000-year old bubble" and cash should be banned, concludes ominously, "everybody will be adversely affected."
Submitted by Tyler Durden on 08/29/2015 - 20:45 No one should attempt to treat Ayn Rand and Murray N. Rothbard as uncomplicated and rather similar defenders of the free society although they have more in common than many believe.
Austrian Economics Is Now Equivalent To Terrorism Thanks To Latest Islamic State "Gold Standard" Propaganda ClipWhat better way to mute demands for a return to sound money and the gold standard, than by making them equivalent to jihadist terrorism? Why, there are none, which may explain the hilarious appearance of the "Islamic State's" latest 55-minutes pro gold standard YouTube clip, which is nothing but a crash course in Austrian economics.
Jim Willie Is Pete’s special guest tonight and says any Nation that has a devaluation in the future can look forward to a military attack … The type of attack may surprise you.
Submitted by Tyler Durden on 08/30/2015 - 11:05 For the moment, to paraphrase Alexander Solzhenitsyn, the “permanent lie [has become] the only safe form of existence”.
But the world cannot postpone, indefinitely, dealing decisively with the economic, resource management, social and political challenges we face.
Submitted by Tyler Durden on 08/30/2015 - 09:17 VAR (invented at J.P. Morgan well before both the global financial crisis and their entertaining London Whale drubbing) is an expression of the largest possible loss, contained within a specified confidence interval. We can for example explore the history of worst weekly losses in the S&P, for each month starting more than 5 years ago in January 2010 (and through May 2015). A total of 65 months. We can set a probability tolerance of just over 6%, and state that the probability of seeing a loss greater than this VAR should be less than or equal to ~6% (or 1 in 16 months).
Submitted by Tyler Durden on 08/29/2015 - 21:54 Is AAPL the next AOL, and is Tim Cook the next Thorsten Heins? It all depends on China: if the world's most populous nation can get its stock market, its economy and its currency under control, then this too shall pass. The problem is that if, as many increasingly suggest, China has lost control of all three. At that point anyone who thought they got a great deal when buying AAPL at $92 will have far better opportunities to dollar-cost average far, far lower.
It’s hot in Florida. Steamy hot. Hair curls and bodies go limp.
The “relief rally” continued yesterday. All over the world, stocks gained. So did oil and commodities. (More on that below in today’s Market Insight.) The Dow was up 369 points – a 2.3% move. Chinese stocks were up by about 5%. Why?
U.S. GDP numbers for the second quarter came out higher than expected. The economy grew by an annual rate of 3.7%. And influential New York Fed chief William Dudley said the argument for a rate increase in September was “less compelling.”
It’s reality check time. When you realize the person or persons you’re delivering an important message to doesn’t want to hear it nor do anything about it, and in fact vehemently rejects it and humiliates and even punishes you for bringing it up, it’s time to take the hint.
The so-called rulers have no interest in our petitions, protests and even demonstrations of disapproval. While supposedly being elected to represent our interests, those concerns we have are clearly the last thing they have in mind. It couldn’t possibly be any clearer than it is today.
Oh they’ll do a little sidestep or pretend to make some slight adjustment to calm the masses down and allay a few fears or grievances, but their overall program generally goes on. At least in this current paradigm of control.
This month has seen something that happens not very often: it appears to be the early stages of a global stock market crash.
For the moment investors are in shock, seeking reassurance and keenly intent on preserving their diminishing assets, instead of reflecting on the broader economic reasons behind it. To mainstream financial commentators, blame for a crash is always placed on remote factors, such as China’s financial crisis, and has little to do with events closer to home. Analysis of this sort is selective and badly misplaced. The purpose of this article is to provide an overview of the economic background to today’s markets as well as the likely consequences.
by Jeff Wise, NY Mag:
Tomorrow marks one month since a piece of a Boeing 777 washed up on the Indian Ocean island of La Réunion, but French investigators are no closer to confirming that the part came from missing Malaysia Airlines Flight 370. In fact, leaks from within the investigation suggest that the part might not have come from the plane at all.
Such a conclusion, if confirmed, would constitute a shocking reversal. At the time of the discovery, it was generally accepted that the wing segment, a so-called “flaperon,” could only come from MH370: Boeing engineers confirmed that the part was from a 777, and MH370 was the only 777 to have gone missing. Aviation experts declared that serial numbers on the flaperon would allow it to be definitively linked to the missing plane within 24 hours. When that deadline passed, news outlets told readers that the ID should be nailed down within a few days. Then by the following week.
Oxnard, California – Continuing interview with 60-year-old Laura Yvonne VadBunker, Oxnard, California, about her adopted 39-year-old daughter, Dawn Marie, who still has not come home or called her parents since July 3, 2015 — except for the handwritten letter in this report.
Laura Yvonne VadBunker, 60, mother of adopted 39-year-old Dawn Marie, who is still missing from VadBunker family, Oxnard, California:
“WELL, THERE’S A BIG PART THAT I DON’T FULLY UNDERSTAND. YOU FILED THAT MISSING PERSONS REPORT FOR YOUR DAUGHTER, DAWN MARIE, ON JULY 10TH, 2015. AND CATHERINE NEBRON DID NOT SHOW BACK UP INTO HER CALIFORNIA LIFE UNTIL JULY 22, 2015. AND WHEN SHE DID THAT, SHE ENDED UP HIRING THE ATTORNEY HARLAN BRAUN, WHO IS WELL KNOWN IN CALIFORNIA.
LISTEN NOW @ Earthfiles.com
Jim Rogers Blog Unofficial:
It is pure idiocy to support a man simply because he is outspoken, or says popular things, or has mastered the art of titillation. Have you people forgotten Chris Christie??
- Some say “People are rallying behind him not because they agree with him, but merely because they find him to be the most truthful.” About … what truth?? The man vacillates between whatever “truth” is the most popular.
- Others think the guy is great because he’s rich … as if that’s a legitimate marker.
- Many like him because Trump is supposedly different; — “I’ve argued for six months, trump is our UKIP, our five star, our national front. Someone’s got to do the dirty work. You wouldn’t hire a choir boy to break kneecaps. It’s gonna take a real bull.” Read More
The prequel to this piece, Gold War: China’s SECOND Announcement of More Gold Reserves, explained several points. Readers were enlightened as to the rules on what sorts of gold transactions must be reported by our governments in a “timely manner”, and what sorts of transactions have no reporting requirements, at all – i.e. any/all disclosures are purely voluntary.
In providing this information, it was explained to readers why China’s second announcement of increased gold reserves actually had even greater significance than its original announcement. This is true even though the first disclosure was a total of 600 tonnes, while the second disclosure was a mere 19 tonnes. Why?
Increasingly, sanity is based on our willingness to accept lying platitudes such as those peddled by Donald Trump and Hillary Clinton.
In typical Communist fashion, those who resist the satanic Jewish conspiracy are smeared as “white supremacists,””right wing fanatics,” “anti Semites”, “hate mongers” and “conspiracy nuts.” The word “patriot” is now suspect.
I refer you online to “The Soviet Art of Brainwashing,” a textbook that was used in Communist training schools both in the USA and Russia starting in the 1930’s.
The history of the Jonathan Pollard spy case usually breaks down to the views of the person doing the analysis. If one holds favorable sentiments for Israel, sympathy towards Pollard usually surfaces.
Contrary if one maintains an abiding loyalty towards the United States, the facts of the spying and treasonous betrayal are overwhelming. In the end, the final assessment proves that the notion of being a “Dual Loyalist” is preposterous. It is absurd that an authentic American can be a Zionist and provide actual national security secrets to an Israeli government that regularly operates in the most fundamental ways against our own country.
Donald Trump’s bid for the White House and ascendancy in the polls has surprised many – but The Simpsons called it 15 years ago.
Since the end of World War Two the Central Intelligence Agency has been a major force in US and foreign news media, exerting considerable influence over what the public sees, hears and reads on a regular basis. CIA publicists and journalists alike will assert they have few, if any, relationships, yet the seldom acknowledged history of their intimate collaboration indicates a far different story–indeed, one that media historians are reluctant to examine.
When seriously practiced, the journalistic profession involves gathering information concerning individuals, locales, events, and issues. In theory such information informs people about their world, thereby strengthening “democracy.” This is exactly the reason why news organizations and individual journalists are tapped as assets by intelligence agencies and, as the experiences of German journalist Udo Ulfkotte (entry 47 below) suggest, this practice is at least as widespread today as it was at the height of the Cold War.
Getting Screwed from BOTH ends...
Submitted by Tyler Durden on 08/29/2015 - 19:15 It’s been noticed more than a few times that there aren’t many substantive differences between the Republicans and Democrats. What they have in common - at least the mainstream varieties - is a desire to use the state to shape society in whatever way they see fit. As Andrew Napolitano put it, "We have migrated from a two-party system into a one-party system, the big-government party. There’s a democratic wing that likes taxes and wealth transfers and assaults on commercial liberties and there’s a republican wing that likes war and deficits and assaults uncivil liberties." And both parties love prohibition, just of different things.
Proof that China has more than 1.658 Metric Tons of Gold. Add it up
Plenty of volatility to come for the home builders. I received a text from a major national builder this week letting me know they would take $90K (14 percent) off of the listed price for one of their inventory homes. Several Katy/West Houston neighborhoods rolling over on price as inventory builds in the upper price segments.
While industry pundits and the marketing arm of the local real estate board keep telling everyone things are fine, the underlying fundamentals continue to deteriorate. – Aaron Layman, Aaron Layman Properties, Houston, TX