After Public Outcry Over $125 Million Tolstedt Bonus, Wells Fargo Will End Sales Goals For Retail Bankers
"The Financial Crisis Has Morphed Into A Growth Crisis" - Rogoff Warns "Cash Is Not Forever, It's A Curse"
Hillary Breaks Silence; Says Whole Pneumonia, 'Stumble' Thing "Wasn't That Big A Deal", Admits Happened Before
European and Asian stock markets were firmly in the red overnight as Friday’s 394 rout in the Dow Jones Industrial Average fueled global concerns.
The chart above shows how the Standard and Poor’s 500 Index of the biggest companies in America has, over the past five years, traded relatively in sync with Goldman Sachs (frequently called Government Sachs for the number of its partners it has placed in top money slots in both Democrat and Republican administrations). When there has been divergences in the chart above, the relationship has gravitated back to a converged path after a time. Inevitably, the health of the country’s banks plays a critical role in the health of the overall economy. If one ever doubted that, the Wall Street bank crash in 2008 and cataclysmic economic aftermath ended that debate. (And, yes, Goldman Sachs is now a deposit-taking bank thanks to the repeal of the Glass-Steagall Act.)
What was once unthinkable has now become a very real possibility. We have all seen the video which shows Hillary Clinton fainting and collapsing into the arms of Secret Service agents as she waited to get into her van following an abrupt exit from a ceremony commemorating the 15th anniversary of the 9/11 terrorist attacks. What has been obvious to many of us for quite a while is now being talked about on every political talk show in America. Not too long ago, you were called a “conspiracy theorist” if you dared to question Clinton’s health, but today it is the central issue of the presidential campaign. With less than two months to go until election day, all of a sudden we are facing some unprecedented scenarios. Last month, I openly pondered if Clinton’s rapidly declining health would allow her to make it to election day, and today it is being reported that Democratic operatives are scrambling to figure out who would replace her if she does decide to drop out. This has already been the craziest election season in modern times, and I have a feeling that it is about to get even crazier.
We need inflation. Just listen to any of the central bank inflation-creators, the puppet politicians, the charlatan economists, or the mindless parrots in the mainstream media. The perverse irony, of course, is that while these liars and idiots lament that we need more inflation, high inflation is already raging around us.
Why do we supposedly need inflation? The answer from these liars/idiots would be funny if it weren’t so tragic – because people actually believe it. We supposedly need inflation to help our economies grow, which (if it were actually true) would lead to a rising standard of living. With a bigger “pie”, everyone gets a larger slice.
Last week we discussed how the Fed engages in what is officially called Open Market Operations. This week, another less official Fed policy tool was on full display: Open Mouth Operations. The playbook this week was to trot out a handful of Federal Reserve officials to talk about how the economy is strong and that a rate hike is plausible at the meeting on September 21st. It’s a sorry state of affairs when a small cadre of consistently wrong academics can influence markets around the world with a few carefully crafted statements. While anything is possible, logic dictates that a September rate hike is unlikely for all of the reasons mentioned in previous weeks.
by Liz Crokin, Town Hall:
Donald Trump is a racist, bigot, sexist, xenophobe, anti-Semitic and Islamophobe — did I miss anything? The left and the media launch these hideous kinds of attacks at Trump everyday; yet, nothing could be further from the truth about the real estate mogul. As an entertainment journalist, I’ve had the opportunity to cover Trump for over a decade, and in all my years covering him I’ve never heard anything negative about the man until he announced he was running for president. Keep in mind, I got paid a lot of money to dig up dirt on celebrities like Trump for a living so a scandalous story on the famous billionaire could’ve potentially sold a lot of magazines and would’ve been a “yuge” feather in my cap. Instead, I found that he doesn’t drink alcohol or do drugs, he’s a hardworking businessman and totally devoted to his beloved wife and children. On top of that, he’s one of the most generous celebrities in the world with a heart filled with more gold than his $100 million New York penthouse.
What is happening today, as these words are typed, the G20 meeting is going on and the world monetary “leaders” are discussing the next step(s) to be put into place to move the system in one direction or the other. We have two very different camps – Eastern and Western. Very distinct differences, with very different thoughts about the next step(s). Whenever I comment about what could happen I do my level best to use the words on public record to support my comments and support the reasons I take my particular position. It is very clear China and Russia have an agenda and the U.S./U.K are going to do everything they can to keep the current system in place as it is the absolute source of their immense power. The bad news for these criminals is the people the world over are getting wise to how the system works. People are becoming aware of the fact the Federal Reserve Note (FRN) should be used in one location and one location only – the U.S.. The U.S. Treasuries are becoming more hated everyday. Mexico has offloaded billions of dollars in U.S. Treasuries in the past 14 months. When your closet neighbor no longer supports your actions you have a serious problem. The FRN has a serious problem. The bonds/treasuries tied to the FRN have a serious problem – Federal Reserve Notes take another step towards terminal illness every. single. day.