Submitted by Tyler Durden on 04/28/2016 - 19:50
Despite his proclamation that he "saved the world from a Great Depression," the fact is that Obama will be the first President ever to not see a single year of 3% GDP growth - but only cynical fiction-peddlers would mention facts at a time like this. In yet more legacy-defending narrative, Obama told The NYTimes today that his biggest failure was being unable to sell his success in putting the American economy back on track to the American people (no matter the actual realities) careful to blame Republicans for slowing growth "by a percentage point or two." And then in a final affront to fact, Obama dismisses the conclusion of "The Big Short" proclaiming that he reined in Wall Street, overhauled the banking system, and made water from wine "the financial system substantially more stable."
from Zero Hedge:
“Increased government spending, financed by central banks could indeed create inflation, but will further elevate the problem of debt viability. If investors lose confidence that the debt can ever be repaid, they will reduce their holdings, increasing the cost to governments or inviting more central bank buying. This can eventually result in the devaluation of all currencies against real assets such as gold, high inflation or even outright defaults (as was the case in Greece). If such a trend develops in one of the large economies, it could have far-reaching consequences.” Read More
Your Future...
from Zerohedge:
Just three weeks ago, the Venezuela socialist paradise gifted local
workers with one extra day of rest each week when, as a result of the
crippling economic crisis and collapsing power grid, president Maduro
designated every Friday in the months of April and May as a non-working
holiday in his desperate bid to save electricity as a prolonged drought
pushes water levels to a critical threshold at hydro-generation plants.
Never without a scapegoat, Maduro immediately blamed El-Nino for
implementing the three-day weekend.
“This plan for 60 days, for two months, will allow the country to get through the most difficult period with the most risk,” Maduro said on state television in early April. “I call on families, on the youth, to join this plan with discipline, with conscience and extreme collaboration to confront this extreme situation” of the drought blamed on the El Nino weather system.
Read More
“Increased government spending, financed by central banks could indeed create inflation, but will further elevate the problem of debt viability. If investors lose confidence that the debt can ever be repaid, they will reduce their holdings, increasing the cost to governments or inviting more central bank buying. This can eventually result in the devaluation of all currencies against real assets such as gold, high inflation or even outright defaults (as was the case in Greece). If such a trend develops in one of the large economies, it could have far-reaching consequences.” Read More
Why The US Output Gap Means The 10 Year Is Going Below 1%
Submitted by Tyler Durden on 04/28/2016 - 21:58 In an asset management context, US Treasury interest rates tend to trend lower when there is an output gap and trend higher when there is an output surplus. This simple, yet overlooked rule has helped to guide us to stay correctly long US Treasuries over the last several years while the Wall Street community came up with any reason why they were a losing asset class. We continue to think that US Treasury interest rates have significant appreciation ahead of them. As we have stated before, we think the 10yr US Treasury yield will fall to 1.00% or below.Your Future...
Just three weeks ago, the Venezuela socialist paradise gifted local
workers with one extra day of rest each week when, as a result of the
crippling economic crisis and collapsing power grid, president Maduro
designated every Friday in the months of April and May as a non-working
holiday in his desperate bid to save electricity as a prolonged drought
pushes water levels to a critical threshold at hydro-generation plants.
Never without a scapegoat, Maduro immediately blamed El-Nino for
implementing the three-day weekend.“This plan for 60 days, for two months, will allow the country to get through the most difficult period with the most risk,” Maduro said on state television in early April. “I call on families, on the youth, to join this plan with discipline, with conscience and extreme collaboration to confront this extreme situation” of the drought blamed on the El Nino weather system.
Read More
"It's Hard To Believe" - Establishment Stunned As Trump Gains 'Wealthy, Well-Educated' Voters
Submitted by Tyler Durden on 04/28/2016 - 16:10 Not only is Donald Trump likely to gather the most votes of any GOP Presidential nominee ever, having swept the East Coast and crushed the anti-Trump alliance between Kasich and Cruz even before it made the news cycle; but now, as Reuters reports, the GOP establishment faces an ever bigger problem. Wealthy, well-educated voters helped carry the Republican front-runner to victory this week - a demographic the famously blunt-spoken billionaire had struggled to attract in the past.
Visualizing China's Rising Dominance In Trade (In 4 Shocking Maps)
Submitted by Tyler Durden on 04/28/2016 - 21:40 The United States is the number one trading partner for 56 countries, with important relationships throughout North America, South America, and Western Europe. Meanwhile, China is the top partner for 124 countries, dominating trade in Asia, Eastern Europe, Africa, and Australia.
Junk Economics: Michael Hudson Rages "Wall Street Has Taken Over The Economy.. & Is Draining It"
Submitted by Tyler Durden on 04/28/2016 - 21:15 Everything that the classical economists saw and argued for – public investment, bringing costs in line with the actual cost of production – that’s all rejected in favor of a rentier class evolving into an oligarchy. Financiers in the 1% are going to pry away the public domain from the government and privatize it so that they get all of the revenue for themselves. It’s all sucked up to the top of the pyramid, impoverishing the 99%. “As long as you can avoid studying economics, you know what’s happened. Once you take an economics course you step into the brainwashing of an Orwellian world.”
China Bond-Sale Cancellations Soar As BofA Warns "Default Risk Is Mispriced"
Submitted by Tyler Durden on 04/28/2016 - 20:50 While BofA's base-case calls for "no crisis," the soaring levels of bond-sale cancellations hitting the non-government credit markets is starting to make Asia strategist David Cui nervous...
"Why Our Children Should Hate Us" - Read The Lance Simmens Article Banned By The Huffington Post
Submitted by Tyler Durden on 04/28/2016 - 20:25 "Vaxxed, the controversial documentary alleging a direct causal relationship between vaccines and exponential increases in autism amongst children is a deeply disturbing and hence critically important piece of work that will cause many sleepless nights for parents of infants everywhere..."
Just Released: Listen To Boehner Calling Ted Cruz A "Luciferian Son Of A Bitch"
Submitted by Tyler Durden on 04/28/2016 - 20:00 Just in case you were waiting for the "taken out of context" or "just kidding" excuse to come from the GOP establishment over John Boehner's earlier comments with regard to the 'luciferian, son of a bitch' Ted Cruz... none will be coming. Here is the full 97 seconds of truthiness from the mouth of the cryingest speaker America has ever known...
Russian Fighter Jet Flies Within 50 Feet Of US Spy Plane Over Russian Naval Base
Submitted by Tyler Durden on 04/28/2016 - 19:53 “On April 21, a U.S. Navy P-8 Maritime Patrol reconnaissance aircraft flying a routine mission in international airspace was intercepted by a MiG-31 Russian jet in the vicinity of the Kamchatka Peninsula,” Cmdr. Dave Benham, a spokesman for the Pacific Command, told the Washington Free Beacon. While Benham added that the intercept was “characterized as safe and professional" there was more to the story as another defense official familiar with the MiG-31 intercept said the jet flew within 50 feet of the P-8, a maritime patrol and anti-submarine warfare aircraft.
Jeff Gundlach's Key To Successful Investing
Submitted by Tyler Durden on 04/28/2016 - 19:45 "A succesful investor is that which makes all the same mistakes that everyone else makes... but learns from them," explains DoubleLine's Jeff Gundlach in this brief but extremely crucial to comprehend interview. If you want to know why you lost in 2008 and 2011 when you thought your 'bond' portfolio would save you... the new bond guru explains...
"Peak Oil Demand" - The Collapse Of The Old Oil Order
Submitted by Tyler Durden on 04/28/2016 - 19:20 Sunday, April 17th was the designated moment. The world’s leading oil producers were expected to bring fresh discipline to the chaotic petroleum market and spark a return to high prices. But what happens if confidence in the eventual resurgence of demand begins to wither? Then the incentives to cooperate begin to evaporate, too, and it’s every producer for itself in a mad scramble to protect market share. This new reality -- a world in which “peak oil demand,” rather than “peak oil,” will shape the consciousness of major players -- is what the Doha catastrophe foreshadowed.
Why 'Good' Jobs Matter (In 1 Recovery-Crushing Chart)
Submitted by Tyler Durden on 04/28/2016 - 18:55 Initial jobless claims continue to hover at 43 year lows, suggesting that everything is awesome in America - just ask President Obama. So why is US GDP not growing at 3.0%-plus as the 'models' would suggest? Simple - because job 'quality' matters and the chart below should slap that into the face of fiction-peddlers across the nation...
The Future Of America? – More Than Half Of All Adults Under-30 Now Reject Capitalism
Submitted by Tyler Durden on 04/28/2016 - 18:30 A shocking new survey has found that support for capitalism is dying in America. In fact, more than half of all adults in the United States under the age of 30 say that they do not support capitalism at this point. You might be tempted to dismiss them as “foolish young people”, but the truth is that they are the future of America.
This Is Where America's Runaway Inflation Is Hiding
Submitted by Tyler Durden on 04/28/2016 - 18:09 Deflation, deflation everywhere... except for those 43 million Americans who are being slammed with rent inflation soaring at just over 8% every year, the highest on record.
Denmark's "Recipe For Integration" - Segregated Swimming Hours
Submitted by Tyler Durden on 04/28/2016 - 17:40 Following the surge in sexual assaults in Swedish swimming pools, and helpful leafletting, refugee "integration" efforts across European nations have taken a turn for the worse - despite all the politically-correct jawboning. First the German town of Bornheim banned adult male asylum seekers from the public pool, but now, the Danish capital of Copenhagen has taken a leaf out of 1960s America and introduced segegrated hours for boys and girls after a huge number of immigrants suddenly took up swimming in the refugee-heavy district of Tingbjerg.
by Steve St. Angelo, SRS Rocco:
The U.S. and world economies are in serious trouble. Unfortunately, the majority of analysts continue to put out increasingly worthless forecasts as they fail to understand the true nature of the problem… or rather, the predicament we are facing.
We must remember, problems have solutions while a predicament may be too difficult to solve. According to the Cambridge definition of Predicament:
Predicament: noun[c] /prɪˈdɪk·ə·mənt/: an unpleasant or confusing situation that is difficult to get out of or solve.
With no money and no job, he found himself in a real predicament.
Read More
The U.S. and world economies are in serious trouble. Unfortunately, the majority of analysts continue to put out increasingly worthless forecasts as they fail to understand the true nature of the problem… or rather, the predicament we are facing.
We must remember, problems have solutions while a predicament may be too difficult to solve. According to the Cambridge definition of Predicament:
Predicament: noun[c] /prɪˈdɪk·ə·mənt/: an unpleasant or confusing situation that is difficult to get out of or solve.
With no money and no job, he found himself in a real predicament.
Read More
by herbymama, Natural News:
Boost immune system function with these foods and herbs.
Garlic. Garlic is a natural antibiotic. The compound allicin is what researchers believe give garlic such power. When you are chopping garlic, have you noticed that sticky substance that forms, causing the garlic to stick to your knife? That sticky stuff is allicin. To get the most benefit from the garlic you use, chop it finely and let it sit for 5 minutes. In those 5 minutes, the allicin will develop fully.
Onions. Onions are naturally anti-microbial. The sulfides in onions make them similar to garlic. Onions also contain allicin and should be chopped up finely. Letting the chopped onions rest will allow allicin to fully develop.
Read More
Boost immune system function with these foods and herbs.Garlic. Garlic is a natural antibiotic. The compound allicin is what researchers believe give garlic such power. When you are chopping garlic, have you noticed that sticky substance that forms, causing the garlic to stick to your knife? That sticky stuff is allicin. To get the most benefit from the garlic you use, chop it finely and let it sit for 5 minutes. In those 5 minutes, the allicin will develop fully.
Onions. Onions are naturally anti-microbial. The sulfides in onions make them similar to garlic. Onions also contain allicin and should be chopped up finely. Letting the chopped onions rest will allow allicin to fully develop.
Read More
by David Stockman, David Stockmans Contra Corner:
It’s all over except the shouting. That is, the primary election season
effectively ended last night and now the actual shouting match between
Hillary and The Donald begins.
This will surely be the most entertaining election in US history, and probably the most pointless, too. After all, Hillary wants to use government to make Government Great Again. And Trump promises to use government to make America Great Again.
But government doesn’t make anything great, including itself. It is a necessary evil that always and everywhere is driven toward self-aggrandizement and mission creep by the politicians and special interest lobbies which control its operations.
Read More
It’s all over except the shouting. That is, the primary election season
effectively ended last night and now the actual shouting match between
Hillary and The Donald begins.This will surely be the most entertaining election in US history, and probably the most pointless, too. After all, Hillary wants to use government to make Government Great Again. And Trump promises to use government to make America Great Again.
But government doesn’t make anything great, including itself. It is a necessary evil that always and everywhere is driven toward self-aggrandizement and mission creep by the politicians and special interest lobbies which control its operations.
Read More
from Wolf Street:
And sales crash.
Naples, Florida, a wealthy beach town on the Gulf of Mexico, known for its golf courses and high-end shopping, and a favorite hangout for Canadian snowbirds trying to escape their cold winters, has a problem:
Pending home sales in the first quarter plunged 23% from a year ago, according to the Naples Area Board of Realtors. Closed sales plunged 19%. Overall inventory soared 33%. In the two mid-price ranges from $300,000 to $1 million, inventory soared about 42%!
But sellers haven’t gotten the memo yet: even as sales crash and as unsold inventories pile up, the median closing price rose 8%.
Read More
And sales crash.
Naples, Florida, a wealthy beach town on the Gulf of Mexico, known for its golf courses and high-end shopping, and a favorite hangout for Canadian snowbirds trying to escape their cold winters, has a problem:
Pending home sales in the first quarter plunged 23% from a year ago, according to the Naples Area Board of Realtors. Closed sales plunged 19%. Overall inventory soared 33%. In the two mid-price ranges from $300,000 to $1 million, inventory soared about 42%!
But sellers haven’t gotten the memo yet: even as sales crash and as unsold inventories pile up, the median closing price rose 8%.
Read More
by Nick Barisheff, GoldSeek:
For thousands of years, gold has been used as money, a store of wealth, fought over and sought after. Over the last 45 years, Western populations have had a mixed impression of gold. A minority of the population understands that gold is a monetary asset that should be held as wealth insurance. A larger percentage of the population is confused about gold because of mainstream sources of information. Many people consider gold a risky investment when in fact gold bullion is not an investment at all, but rather money itself. Just like any fiat currency held in a vault, gold does not pay interest or dividends. Investors often look upon gold mining companies in the same light as physical gold bullion. Gold mining shares are investments, and can be good tactical investments from time to time. However, the characteristics of gold bullion and gold miners are very different. In some ways, those differences are similar to the difference between an insurance policy and shares of an insurance company.
Read More
For thousands of years, gold has been used as money, a store of wealth, fought over and sought after. Over the last 45 years, Western populations have had a mixed impression of gold. A minority of the population understands that gold is a monetary asset that should be held as wealth insurance. A larger percentage of the population is confused about gold because of mainstream sources of information. Many people consider gold a risky investment when in fact gold bullion is not an investment at all, but rather money itself. Just like any fiat currency held in a vault, gold does not pay interest or dividends. Investors often look upon gold mining companies in the same light as physical gold bullion. Gold mining shares are investments, and can be good tactical investments from time to time. However, the characteristics of gold bullion and gold miners are very different. In some ways, those differences are similar to the difference between an insurance policy and shares of an insurance company.
Read More
from Lew Rockwell:
Would all of our lives be safer if the government could break down all the doors it wishes, listen to all the conversations it could find and read whatever emails and text messages it could acquire? Perhaps. But who would want to live in such a society?
To prevent that from happening here, the Framers ratified the Fourth Amendment, which is the linchpin of privacy and was famously called by Justice Louis Brandeis “the right to be let alone — the most comprehensive of rights and the right most valued by civilized men.” He wrote those words in his dissent in the first wiretapping case to reach the Supreme Court, Olmstead v. the United States, in 1928.
Read More
Would all of our lives be safer if the government could break down all the doors it wishes, listen to all the conversations it could find and read whatever emails and text messages it could acquire? Perhaps. But who would want to live in such a society?
To prevent that from happening here, the Framers ratified the Fourth Amendment, which is the linchpin of privacy and was famously called by Justice Louis Brandeis “the right to be let alone — the most comprehensive of rights and the right most valued by civilized men.” He wrote those words in his dissent in the first wiretapping case to reach the Supreme Court, Olmstead v. the United States, in 1928.
Read More
by Charles Hugh Smith, Of Two Minds:
The endless bleating of well-paid pundits in the corporate media about “reform” is just more circus.
It’s difficult for well-meaning pundits to abandon the fantasy that meaningful reform is possible. Indeed, a critical function of the punditry and corporate media is to foster the fantasy that the status quo could be reformed if only we all got together and blah blah blah.
As I explain in my new book Why Our Status Quo Failed and Is Beyond Reform, real structural reform would trigger the collapse of the status quo. (As a reminder, the status quo benefits the few at the expense of the many.)
Read More…
The endless bleating of well-paid pundits in the corporate media about “reform” is just more circus.
It’s difficult for well-meaning pundits to abandon the fantasy that meaningful reform is possible. Indeed, a critical function of the punditry and corporate media is to foster the fantasy that the status quo could be reformed if only we all got together and blah blah blah.
As I explain in my new book Why Our Status Quo Failed and Is Beyond Reform, real structural reform would trigger the collapse of the status quo. (As a reminder, the status quo benefits the few at the expense of the many.)
Read More…
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