Because
even the road to socialist utopia is paved with capitalist intentions.
At least until the 120% excise "fairness" tax is implemented. In the
meantime, welcome back supply and demand. We missed you...from crabbydogtrix:
from Alexander Higgins:
Been waiting for FEMA all week without seeing or hearing from them but they appear in droves for the press acting like they’re helping while Christie claims they providing support in 24-48 hours.
Been waiting for FEMA all week without seeing or hearing from them but they appear in droves for the press acting like they’re helping while Christie claims they providing support in 24-48 hours.
Charles Ferguson: "Standing Behind Every Great Con Artist Is Someone Like Glenn Hubbard "
Mitt
Romney has a credibility problem. He changes his beliefs like laundry
(abortion, medical insurance, whether Bin Laden was worth killing,
attacking Iran), refuses to disclose his tax returns, and won't explain
how he could possibly pay for the tax cuts he proposes. But there is
another scandal in Romney's campaign -- namely Glenn Hubbard, Romney's
chief economic advisor, who was chairman of the Council of Economic
Advisors under George W. Bush, and is now Dean of Columbia Business
School. I interviewed Hubbard for my documentary film Inside Job, and
analyzed his record again for my book Predator Nation. The film
interview became famous because Hubbard blew his cool after I
interrogated him about his conflicts of interest: "This isn't a
deposition, sir. I was polite enough to give you time, foolishly I now
see, but you have three more minutes. Give it your best shot." But
the really important thing about Hubbard isn't his personality; it's
that as an economist and an advisor, he is a total, unmitigated
disaster.Three Days Ahead Of Election, Candidates Tied Reuters Finds; Bill Maher Jokes
With only three days to the big unveiling, the candidates are essentially tied for the Presidential election. The Reuters/Ipsos daily tracking poll
released this morning has (of likely voters) 47% backing Obama and 46%
backing Romney. The two statistics fall within the realm of statistical
noise implying there is no difference and that is why so much time is
now being spent in the battleground states; especially since the same
poll has Obama leading on electoral college votes and such a huge swathe
of 'undecideds' who remain very balanced. The closeness of the race
does raise the concern about Bush-Gore-like hanging-chad discord and as
we have discussed in the past (the 70-percent, the 3.5 class society, and the Political Black Swan). The chances of social unrest at a close decision are non-negligible in the current environment and should not be dismissed; though we are not sure that Bill Maher's 'comedic' sentiment is really helping: "If
you're thinking about voting for Mitt Romney, I would like to make
this one plea: black people know who you are and they will come after
you."Is This Why Markets Can't Catch A Bernanke Bid?
While
top-down macro headlines, anchoring-biased surveys, and
election-oriented government-aided statistics suggest a world of
unicorns and teddy bears where everyone and their pet rabbit 'Dave'
should be buying stocks with both hand and feet for the 'upside' when
the fiscal cliff is 'solved' and 'Bernanke has got your back';
why-oh-why is every rally faded? In Size? Perhaps this is the answer?
Goldman Sachs Analysts Index (GSAI) - a quantified bottom-up look at
firm-by-firm views of the current and expected economic reality
aggregated across all of the company's analysts - is bad and getting worse in a hurry. The main index slumped to 32.9 in October from 44.1 in September,
with all sub-components falling 'suggesting depressed business
activity from the bottom-up'. Perhaps worse, the employment index
remains weak and price indices suggest a deflationary future. This
index of real economic activity is its lowest since the 2008-9
recession and sends a considerably more pessimistic message than many
of the business 'surveys' from the Philly Fed or Chicago PMI.
Perhaps it is this reality on the ground that is stalling the
wealth-building stock-levitation that is so economically required by
our central planners - as it seems the broad improvement in September was transient.Trader Dan on King World News Metals Wrap
Trader Dan at Trader Dan's Market Views - 4 hours ago
Please click on the following link to the listen in to my regular weekly
radio interview with Eric King on the KWN Weekly Metals Wrap.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2012/11/3_KWN_Weekly_Metals_Wrap.html
AB Transition Not All About Sticking It To The Little Guy In Gold
Eric De Groot at Eric De Groot - 5 hours ago
AB transition is all about control: Control of the "hearts and minds" of
traders and investors Control of the trend from reportable traders, i.e.
the spec funds and the black boxes they control. Anyone that thinks this
transition is all about sticking it to the non-reportable traders, which
generally includes the gold community or little guy dabbling in gold, needs
to re-frame their...
[[ This is a content summary only. Visit my website for full links, other
content, and more! ]]
Another farce of a jobs report/Massive raid on silver and gold/
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 6 hours ago
Good
morning Ladies and Gentlemen:
Gold closed down $36.40 to $1674.40 while silver followed suit down
$1.42 to $30.84 at comex closing time. In the access market here are
the following closing prices:
gold: $1676.90
silver: $30.91.
The bankers again used the phony jobs report to orchestrate a monstrous
raid on our precious metals. They were relentless with a huge supply of
non backed paper
Video: Schifffradio Interview
Admin at Marc Faber Blog - 9 hours ago
*Marc Faber is an international investor known for his uncanny predictions
of the stock market and futures markets around the world.*Food For Thought: Why Correlation Better Not Be Causation
We can only hope that the chart below, which shows a rather disturbing linkage between consumption of chocolate (in kg/yr/capita) and Nobel prize laureates per 10 million of population, is simply a good confirmation of the old adage which everyone these days seems to forget (especially those who look at "black box" models and predict the outcome of the presidential election with 75.304% accuracy in hopes of signing even better book deals) that correlation most certainly is not causation. Of course, for the vast majority of people who have no idea where statistics ends and heuristics begins, there is nothing greater in life than a high R-squared, which is why we expect that the next generation of Americans will be even fatter (if that is even possible) for one simple reason: their proud parents will fed them intravenous chocolate in hopes of creating the next Economics Nobel prize winner.
Patrick Killelea: What Every Homebuyer (And Homeowner) Should Know Now
For
many, the collapse of the housing bubble was the trigger that began
the era of economic slowdown Americans find themselves mired in. But
recently there have been growing reports in the media of a housing
"recovery." So we've invited Patrick Killelea, founder of the popular
housing site Patrick.net and author of The Housing Trap: How Buyers Are Captured and Abused and How to Defend Yourself,
to clarify the situation. The short answer is this: While there are
some markets where home prices are back in line with both fundamental
and historic norms, buyers still need to exert caution when making a
purchase. Patrick also shares insights from his analysis of years of
national home purchases. These include: don't sell too often (the
transaction costs will kill your returns), don't upgrade too frequently
(it's more costly than you think), and it's worth it to transact
without an agent if you're able to do so.Syrian Tanks Enter Golan Heights DMZ, Israel Military Warns
With everyone's attention focused on the aftermath of hurricane Sandy, some may have forgotten that the Middle East is the proverbial powder keg, just waiting for an Archduke and a lit match, not necessarily in that order. Moments ago, Israel's military reminded us of just that when it reported that 3 Syrian tanks have entered the Golan Heights DMZ. Because it appears that the absolutely deranged and insane (or at least that's how it will be portrayed) Syrian regime is not satisfied with provoking the humanistic Western media with "offensive" measures taken against both Turkey and Lebanon, it now has decided to enter the lion's mouth, and is begging, just begging, for a UN-endorsed retaliation. How soon until Syria floats a submarine into New York harbor where it explodes but only after leaving a convenient note saying "Death to the Infidels, Love Syria." Or something just as realistic.
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Video Of The MTA In Action: How Whitehall Station Went From Flooded To Dry In 4 Days
On
October 30, the day after the worst natural disaster in New York
history struck and flooded virtually all of downtown, Governor Andrew
Cuomo tweeted the
following dramatic picture of Whitehall station, which was then
completely submerged underwater. A few days later, Whitehall station is
almost dry. Watch this MTA video to see how they did it in 3 short days.
by Ambrose Evans-Pritchard, The Telegraph:
French leader François Hollande is uncomfortably close to a collapse
in credibility. His poll rating has sunk to 36pc. The speed of decline
has been shocking.The latest broadside comes from ex-German chancellor Gerhard Schröder, supposedly his ally on the Left.
“The election promises of the French president are going to shatter on the walls of economic reality,” he said in Paris.
The backsliding in the retirement age is indefensible and “cannot be financed”. Two or three more blunders of this kind and “reality will catch up with out French friends”.
Mr Schröder knows what it takes to claw back competitiveness. He lost his chancellorship on the Hartz IV labour reforms.
This tale of political sacrifice can be exaggerated of course. The Hartz IV reforms are not the chief reason why Germany is super-competitive today within EMU. The country’s hiring and firing laws are among the least reformed in the OECD to this day.
Read More @ Telegraph.co.uk
Average Greeks are reeling under the strict austerity
measures passed in order to balance the country’s budget. Top earners,
on the other hand, continue to evade the tax man. Most of the
self-employed in Greece significantly under report their earnings,
whereas shipping magnates enjoy generous exemptions.
The principle of tax justice may be enshrined into the Greek
constitution, but it has become increasingly obvious that not all Greek
taxpayers are created equal. Currently, the government in Athens is
preparing yet another round of harsh austerity measures, severely
testing the cohesion of both the coalition and society. Already, such
measures in combination with tax hikes have slashed average household
income in Greece by half since the beginning of the crisis. Measures now
planned will see pensions sink by 25 percent.
At the same time, though, a small elite of wealthy Greek ship owners is fighting to defend its tax-free status — also, ironically enough, enshrined in the constitution. Meanwhile, other moneyed Greeks, including doctors, lawyers and engineers, continue to systematically avoid taxes. According to a recent study, seven out of 10 self employed Greeks significantly underreport their earnings. Indeed, though the crisis has been raging for five years now, many wealthy Greeks are under no more pressure to pay taxes than they were before.
Read More @ Spiegel.de
from TruthNeverTold :
The principle of tax justice may be enshrined into the Greek
constitution, but it has become increasingly obvious that not all Greek
taxpayers are created equal. Currently, the government in Athens is
preparing yet another round of harsh austerity measures, severely
testing the cohesion of both the coalition and society. Already, such
measures in combination with tax hikes have slashed average household
income in Greece by half since the beginning of the crisis. Measures now
planned will see pensions sink by 25 percent.At the same time, though, a small elite of wealthy Greek ship owners is fighting to defend its tax-free status — also, ironically enough, enshrined in the constitution. Meanwhile, other moneyed Greeks, including doctors, lawyers and engineers, continue to systematically avoid taxes. According to a recent study, seven out of 10 self employed Greeks significantly underreport their earnings. Indeed, though the crisis has been raging for five years now, many wealthy Greeks are under no more pressure to pay taxes than they were before.
Read More @ Spiegel.de
from CBS New York:
To Make Sure Inbound NYC Flights Can Return, Planes Carrying More Gas
Fears of a jet fuel shortage at New York’s airports have led some
airlines to take the unusual — and costly — step of putting extra fuel
on planes.
The worries have emerged following Superstorm Sandy, which has disrupted the flow of fuel and electricity throughout the Northeast.
US Airways, United Airlines, American Airlines and Southwest Airlines are among the carriers loading more fuel on New York-bound flights. This ensures they have enough fuel to leave the New York region.
Operations at the region’s three main airports are `”still very much in flux,” said Todd Lehmacher, a spokesman with US Airways Group Inc.
Read More @ NewYork.CBSlocal.com
To Make Sure Inbound NYC Flights Can Return, Planes Carrying More Gas
Fears of a jet fuel shortage at New York’s airports have led some
airlines to take the unusual — and costly — step of putting extra fuel
on planes.The worries have emerged following Superstorm Sandy, which has disrupted the flow of fuel and electricity throughout the Northeast.
US Airways, United Airlines, American Airlines and Southwest Airlines are among the carriers loading more fuel on New York-bound flights. This ensures they have enough fuel to leave the New York region.
Operations at the region’s three main airports are `”still very much in flux,” said Todd Lehmacher, a spokesman with US Airways Group Inc.
Read More @ NewYork.CBSlocal.com
by Bill Bonner, Daily Reckoning.com.au:
‘A government with the policy to rob Peter to pay Paul can be assured of the support of Paul.’
“Breaking Bad”, says Bill Gross, is an appropriate analogy to America’s approaching “fiscal cliff“.
The story is about a high school chemistry teacher who gets lured into
making crystal meth. Once started, it was hard to stop. From the Washington Post:
‘A government with the policy to rob Peter to pay Paul can be assured of the support of Paul.’
“Breaking Bad”, says Bill Gross, is an appropriate analogy to America’s approaching “fiscal cliff“.
The story is about a high school chemistry teacher who gets lured into
making crystal meth. Once started, it was hard to stop. From the Washington Post:‘Hooked on the temporary high of tax cuts and increased entitlements over the past several decades, the nation’s capital is approaching the end of the line travelled by most addicts: Reform, or suffer the consequences.Read More @ DailyReckoning.com.au
‘At first blush, the comparison to a meth head might seem a bit of a stretch. Despite approaching the edge of the fiscal cliff with a deficit equivalent to 8% of gross domestic product, the United States is still considered the ‘cleanest dirty shirt’ in global financial markets.
‘Whenever an authentic crisis (Lehman Brothers in 2008) or a minor aftershock occurs, investors buy US Treasury bonds, the dollar rises and this country’s reserve-currency status is reaffirmed. The United States still seems to be the first destination of global capital in search of safe (although historically low) prospective returns.
from TruthNeverTold :
from KingWorldNews:
The KWN Weekly Metals Wrap – We have added new segments to the KWN
Weekly Metals Wrap covering gold, silver, trading and a plethora of
other factors affecting the precious metals markets. I am giving King
World News listeners globally access to what has long been my secret
weapons in researching where gold and silver are headed directionally
along with the COT Report. We Cover the Commitment of Traders Report in
detail as well as a number of other factors which can influence the gold
and silver market price action.
Bill Haynes and Dan Norcini AUDIO INTERVIEW @ KingWorldNews.com
The KWN Weekly Metals Wrap – We have added new segments to the KWN
Weekly Metals Wrap covering gold, silver, trading and a plethora of
other factors affecting the precious metals markets. I am giving King
World News listeners globally access to what has long been my secret
weapons in researching where gold and silver are headed directionally
along with the COT Report. We Cover the Commitment of Traders Report in
detail as well as a number of other factors which can influence the gold
and silver market price action.Bill Haynes and Dan Norcini AUDIO INTERVIEW @ KingWorldNews.com
by Ludwig von Mises, Mises:
The opponents of liberalism assert that the necessary preconditions for
the adoption of the liberal program no longer exist in the contemporary
world. Liberalism was still practicable when many concerns of medium
size were engaged in keen competition in each industry. Nowadays, since
trusts, cartels, and other monopolistic enterprises are in complete
control of the market, liberalism is as good as done for in any case. It
is not politics that has destroyed it, but a tendency inherent in the
inexorable evolution of the system of free enterprise.
The division of labor gives a specialized function to each productive unit in the economy. This process never stops as long as economic development continues. We long ago passed the stage at which the same factory produced all types of machines. Today a machine factory that does not limit itself exclusively to the production of certain types of machinery is no longer able to meet competition. With the progress of specialization, the area served by an individual supplier must continue to widen. The market supplied by a textile mill that produces only a few kinds of fabrics must be larger than that served by a weaver who weaves every kind of cloth.
Read More @ Mises.ca
The opponents of liberalism assert that the necessary preconditions for
the adoption of the liberal program no longer exist in the contemporary
world. Liberalism was still practicable when many concerns of medium
size were engaged in keen competition in each industry. Nowadays, since
trusts, cartels, and other monopolistic enterprises are in complete
control of the market, liberalism is as good as done for in any case. It
is not politics that has destroyed it, but a tendency inherent in the
inexorable evolution of the system of free enterprise.The division of labor gives a specialized function to each productive unit in the economy. This process never stops as long as economic development continues. We long ago passed the stage at which the same factory produced all types of machines. Today a machine factory that does not limit itself exclusively to the production of certain types of machinery is no longer able to meet competition. With the progress of specialization, the area served by an individual supplier must continue to widen. The market supplied by a textile mill that produces only a few kinds of fabrics must be larger than that served by a weaver who weaves every kind of cloth.
Read More @ Mises.ca
“He who casts a vote decides nothing. He who counts the vote decides everything.”
– Joseph Stalin
by Dr. Paul Craig Roberts, Rense:
Whether or not he said it, Stalin’s quote has entered into folklore.
For a vote to mean anything, those counting the ballots must have a
greater respect for the integrity of democracy than they have lust for
power.
Since Stalin’s time, the technology has changed. With electronic voting machines, which leave no paper trail and are programmed with proprietary software, the count can be decided before the vote. Those who control the electronics can simply program voting machines to elect the candidate they want to win. Electronic voting is not transparent. When you vote electronically, you do not know for whom you are voting. Only the machine knows.
According to most polls, the race for the White House is too-close-to-call. History has shown that when an election is close and there’s no expectation of a clear winner, these are the easiest ones to steal. Even more important, the divergence between exit polls, perhaps indicating the real winner, and the stolen result, if not overdone, can be very small.
Read More @ Rense.com
Don't forget the Ammo...Your going to need it...
– Joseph Stalin
by Dr. Paul Craig Roberts, Rense:
Whether or not he said it, Stalin’s quote has entered into folklore.
For a vote to mean anything, those counting the ballots must have a
greater respect for the integrity of democracy than they have lust for
power.Since Stalin’s time, the technology has changed. With electronic voting machines, which leave no paper trail and are programmed with proprietary software, the count can be decided before the vote. Those who control the electronics can simply program voting machines to elect the candidate they want to win. Electronic voting is not transparent. When you vote electronically, you do not know for whom you are voting. Only the machine knows.
According to most polls, the race for the White House is too-close-to-call. History has shown that when an election is close and there’s no expectation of a clear winner, these are the easiest ones to steal. Even more important, the divergence between exit polls, perhaps indicating the real winner, and the stolen result, if not overdone, can be very small.
Read More @ Rense.com
Don't forget the Ammo...Your going to need it...
Firearms shop owners label Obama “the best gun salesmen we’ve had”
by Paul Joseph Watson, InfoWars:
Fears that Barack Obama would use a lame duck second term to
eviscerate gun rights are fueling record firearms sales once again, with
gun store owners labeling Obama, “the best gun salesmen we’ve had.”
Today’s Items:
Finally, please prepare now for the escalating economic and social unrest. Good Day!
by Paul Joseph Watson, InfoWars:
Fears that Barack Obama would use a lame duck second term to
eviscerate gun rights are fueling record firearms sales once again, with
gun store owners labeling Obama, “the best gun salesmen we’ve had.”
Despite a new law allowing carrying without a permit,
concealed-firearm permits in the fiercely independent state of Wyoming
in the last quarter have smashed records set in previous years.
“People are definitely scared of a president who has
voted when he was a senator against guns,” Anthony Bouchard, director of
the Wyoming Gun Owners Association in Cheyenne told the Wyoming Star Tribune. “[If Obama gets re-elected] he’s in a lame-duck session and he can do the things he wants to do. That’s what we’re afraid of.”
Read More @ InfoWarsToday’s Items:
The Fed is stonewalling the Germans and
refusing to let them even see the gold they own. So far, the 1,536
metric tons of gold, worth about $93 billion at spot prices, has only
been backed up by personal assurances. That and 10 cents will get you a
packet of cancer causing aspartame sweetener at Starbucks. The
Bundesbank has pledged to bring back and inspect 150 tons of gold from
the US over the next several years. Of course, they have a higher
chance of getting that gold than the Romanians who want their 93.4 tons of gold returned. Back a the Bundesbank, a Bundesbank official is quietly assuring the New York Fed that the gold issue will go away. Not with other nations demanding their gold back, it won’t.
Tom Fitzpatrick states that the dollar
index may move up to 84 meaning the the dollar’s perceived delusional
value will go up. Turning to the euro, it appears to be in a topping
pattern, and could see sharp down moves. Turning to gold, it appears
to be in a consolidation pattern; however, be ready for upward swings.
In the end, gold will outperform all paper currencies as it has been
doing so for quite some time now.
Producing only 171,000 new jobs in
October, the bogus unemployment rate moved higher to 7.9%. Economist,
no doubt working for Obama, predicted that unemployment would fall to
7.7%. In addition, long term unemployment, that is 27 weeks or longer, rose to 40.6%. Also, average hourly earnings dropped by one cent to $23.58. The good news is that the unemployment rate for government workers dropped again to 4.2%. Doesn’t that bring a warm feeling to your heart?
Since 2009, 194,000 new jobs have been
created while 14.7 million have been added to the food stamp rolls. To
put this into context. 75 people were added to the food stamp rolls for
every 1 new job created. In short, the U.S. is devolving into a
welfare state.
U.S. District Judge William Griesbach, nominated by George W. Bush,
ruled that it was reasonable for federal agents to enter private
property without permission and install covert digital
surveillance cameras without a warrant. Although, in this case, it was
rural property and the cameras were in open fields; it doesn’t take a
genius to believe that the next step is install these covert
“Peeping-Tom” cameras into people’s private bedrooms for the TSA err…
federal agents to monitor. Hey, maybe they will deploy camouflaged
toilet surveillance drones.
Next…
Here are a few…
1. Minimize phantom loads by unplugging items completely from the wall. 75 percent of the electrical power used in home electronics is consumed while the products are turned off.
2. Replace incandescent bulbs with low power LED, not the mercury laden CFL, light bulbs.
3. Plant shade trees and shrubs.
1. Minimize phantom loads by unplugging items completely from the wall. 75 percent of the electrical power used in home electronics is consumed while the products are turned off.
2. Replace incandescent bulbs with low power LED, not the mercury laden CFL, light bulbs.
3. Plant shade trees and shrubs.
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