by Michael Snyder, The Economic Collapse Blog:
The parallels between the false prosperity of 2007 and the false
prosperity of 2014 are rather striking. If we go back and look at the
numbers in the fall of 2007, we find that the Dow set an all-time high
in October, margin debt on Wall Street had spiked to record levels, the
unemployment rate was below 5 percent and Americans were getting ready
to spend a record amount of money that Christmas season. But then the
very next year the worst economic crisis since the Great Depression
shook the entire planet and everyone wondered why most people never saw
it coming. Well, now a similar pattern is unfolding right before our
eyes. The Dow and the S&P 500 both hit record highs
on Monday, margin debt on Wall Street is hovering near record levels,
the unemployment rate has ticked down a little bit and Americans are
getting ready to spend more than 600 billion dollars this Christmas season. The truth is that the economy seems pretty stable for the moment, and most people cannot even imagine that an economic collapse is coming. So why are so many really smart people forecasting economic disaster in the near future?
Read More…
The parallels between the false prosperity of 2007 and the false
prosperity of 2014 are rather striking. If we go back and look at the
numbers in the fall of 2007, we find that the Dow set an all-time high
in October, margin debt on Wall Street had spiked to record levels, the
unemployment rate was below 5 percent and Americans were getting ready
to spend a record amount of money that Christmas season. But then the
very next year the worst economic crisis since the Great Depression
shook the entire planet and everyone wondered why most people never saw
it coming. Well, now a similar pattern is unfolding right before our
eyes. The Dow and the S&P 500 both hit record highs
on Monday, margin debt on Wall Street is hovering near record levels,
the unemployment rate has ticked down a little bit and Americans are
getting ready to spend more than 600 billion dollars this Christmas season. The truth is that the economy seems pretty stable for the moment, and most people cannot even imagine that an economic collapse is coming. So why are so many really smart people forecasting economic disaster in the near future?Read More…
by Pam Martens, Wall Street on Parade:
Apparently, not one of the global regulators pushing the latest plan to
prevent another taxpayer bailout of the over-leveraged, globe-trotting
banking behemoths that crashed the financial system in 2008 ever worked a
day on Wall Street or sat behind a trading terminal during the crisis.
If one had, he would have exposed this plan immediately as an exercise
in illusory thinking – effectively, the same framework on which global
banking currently exists.
Yesterday, the Financial Stability Board, established in 2009 to coordinate financial regulatory proposals on behalf of the Group of 20 major economies (G-20), released a proposal that is being promoted as a means of ending taxpayer bailouts of too-big-to-fail banks. These 30 banks are known as G-SIBs, or Global Systemically Important Banks. But the proposal does nothing to address the “systemic” danger of these banks, thus the proposal is nothing more than captured regulators floating another useless trial balloon for reform because they lack the political courage to admit the only solution is to break up these bloated financial institutions that regularly function variously as crime syndicates and institutionalized wealth transfer systems.
Read More @ WallStreetonParade.com
Apparently, not one of the global regulators pushing the latest plan to
prevent another taxpayer bailout of the over-leveraged, globe-trotting
banking behemoths that crashed the financial system in 2008 ever worked a
day on Wall Street or sat behind a trading terminal during the crisis.
If one had, he would have exposed this plan immediately as an exercise
in illusory thinking – effectively, the same framework on which global
banking currently exists.Yesterday, the Financial Stability Board, established in 2009 to coordinate financial regulatory proposals on behalf of the Group of 20 major economies (G-20), released a proposal that is being promoted as a means of ending taxpayer bailouts of too-big-to-fail banks. These 30 banks are known as G-SIBs, or Global Systemically Important Banks. But the proposal does nothing to address the “systemic” danger of these banks, thus the proposal is nothing more than captured regulators floating another useless trial balloon for reform because they lack the political courage to admit the only solution is to break up these bloated financial institutions that regularly function variously as crime syndicates and institutionalized wealth transfer systems.
Read More @ WallStreetonParade.com
from KingWorldNews:
On this day in 1918, Pvt Henry Gunther of Baltimore, Maryland thought
he saw a suspicious movement in the German trenches across the way.
Fearing that the “Huns” were using the mid-morning sun to get some
territorial advantage while the peace talks dragged on, Gunther decided
to rush the suspicious area. Henry was fast but, unfortunately, not
invisible. A single shot from a German rifle struck him in the heart
and killed him instantly. The time was 11:01 a.m. just 1 minute after
the war officially ended, making Put Henry Gunther the final casualty of
World War I.
Thus, he joined nearly 8.4 million other victims who died in that conflict alone (113,000 Americans). But Gunther was in a distinct minority – he died of a wound. More than half of the rest died of the flu or other illnesses. But, as noted, at 11:01 a.m., Harry Gunther became the last military casualty of World War I. If only he had known that world leaders had already agreed upon on a cease-fire (about four days before). But with a nod to symmetry, history and-yes-even numerology, they had decided to implement the Armistice on the Eleventh hour of the Eleventh day of the Eleventh month.
Art Cashin continues @ KingWorldNews.com
On this day in 1918, Pvt Henry Gunther of Baltimore, Maryland thought
he saw a suspicious movement in the German trenches across the way.
Fearing that the “Huns” were using the mid-morning sun to get some
territorial advantage while the peace talks dragged on, Gunther decided
to rush the suspicious area. Henry was fast but, unfortunately, not
invisible. A single shot from a German rifle struck him in the heart
and killed him instantly. The time was 11:01 a.m. just 1 minute after
the war officially ended, making Put Henry Gunther the final casualty of
World War I. Thus, he joined nearly 8.4 million other victims who died in that conflict alone (113,000 Americans). But Gunther was in a distinct minority – he died of a wound. More than half of the rest died of the flu or other illnesses. But, as noted, at 11:01 a.m., Harry Gunther became the last military casualty of World War I. If only he had known that world leaders had already agreed upon on a cease-fire (about four days before). But with a nod to symmetry, history and-yes-even numerology, they had decided to implement the Armistice on the Eleventh hour of the Eleventh day of the Eleventh month.
Art Cashin continues @ KingWorldNews.com
from Nomi Prins:
A funny thing happened on the way to the ‘end’ of the multi-trillion
dollar bond buying program known as QE – the Fed chronicles. Aside from
the shift to a globalization of QE via the European Central Bank (ECB)
and Bank of Japan (BOJ) as I wrote about earlier, what lingers in the
air of “post-taper” time is an absence of absence. For QE is not over.
Instead, in the United States, the process has simply morphed from being
predominantly executed by the Federal Reserve (Fed) to being executed
by its major private bank members. Fed Chair, Janet Yellen, has failed
to point this out in any of her speeches about the labor force,
inflation, or inequality.
The financial system has failed and remains a threat to us all. Only cheap money and the artificial inflation of asset values can make it appear temporarily healthy. Yet, the Fed (and the Obama Administration) continue to perpetuate the illusion that making the cost of (printed) money zero by any means has had a positive effect on the population at large, when in fact, all that has occurred is a pass-the-debt-ponzi-scheme co-engineered by the Fed and big US bank beneficiaries. That debt, caught in the crossfires of this central-private bank arrangement, is still doing nothing for American citizens or the broader national or global economy.
Read More @ NomiPrins.com
A funny thing happened on the way to the ‘end’ of the multi-trillion
dollar bond buying program known as QE – the Fed chronicles. Aside from
the shift to a globalization of QE via the European Central Bank (ECB)
and Bank of Japan (BOJ) as I wrote about earlier, what lingers in the
air of “post-taper” time is an absence of absence. For QE is not over.
Instead, in the United States, the process has simply morphed from being
predominantly executed by the Federal Reserve (Fed) to being executed
by its major private bank members. Fed Chair, Janet Yellen, has failed
to point this out in any of her speeches about the labor force,
inflation, or inequality. The financial system has failed and remains a threat to us all. Only cheap money and the artificial inflation of asset values can make it appear temporarily healthy. Yet, the Fed (and the Obama Administration) continue to perpetuate the illusion that making the cost of (printed) money zero by any means has had a positive effect on the population at large, when in fact, all that has occurred is a pass-the-debt-ponzi-scheme co-engineered by the Fed and big US bank beneficiaries. That debt, caught in the crossfires of this central-private bank arrangement, is still doing nothing for American citizens or the broader national or global economy.
Read More @ NomiPrins.com
by Nomi Prins, NomiPrins.com, via ZeroHedge:
Our political-financial system has gone from the dysfunctional to the failed to the surreal.
Speculation, once left to individuals and investors, is now federally
sponsored, subsidized and institutionalized. When this sham finally
buckles and the next shoe falls and rates do eventually rise, the stock
market will tank, liquidity will die, and the broader economy will
plunge into a worse Depression than before. We are not there yet because
of these coordinated moves and the political force behind them. But we are on a precarious path to that inevitability.
Read More @ ZeroHedge.com
A Change of Plans
from The Wealth Watchman:
I was going to write on a different topic today, but I had someone ask me a question, prompted by an exchange he’d read from a certain guru, Mr. Martin Armstrong. The exchange was about whether or not gold and silver were being actively suppressed by banks and governments.
Armstrong continues to come against the argument of long-term suppression, but this shield brother’s question is so crucial, that once I read it, I knew I had to write on this topic immediately. It is becoming more and more important every day, for everyone possible to understand why the manipulation is prosecuted and ongoing, even more than who is doing it or how.
Read More…
from Jesse’s Café Américain:
“The problem of the last three decades is not the ‘vicissitudes of the marketplace,’ but rather deliberate actions by the government to redistribute income from the rest of us to the one percent. This pattern of government action shows up in all areas of government policy.”
Dean Baker
“Most of them became wealthy by being well connected and crooked. And they are creating a society in which they can commit hugely damaging economic crimes with impunity, and in which only children of the wealthy have the opportunity to become successful. That’s what I have a problem with. And I think most people agree with me.”
Charles Ferguson, Predator Nation
“No lie can live forever.”
Thomas Carlyle
There is a currency war ongoing. It’s objective is the subjugation of whole peoples, including the domestic public. In a very real sense it is nationless.
Read More @ Jessescrossroadscafe.blogspot.ca
by Bill Sardi, Lew Rockwell:
Only for those persons who want or need to understand what is going on in the world financially.
Here is what is happening:
1. The US is involved in a financial war against Syria, Iran and Russia, by reducing the price of oil to below break even. This frees-up billions in the consumer economy.
2. China is buying cheap oil by the boat loads and is switching its primary source from Iran to Nigeria.
3. Japan (read below) is switching from investing US dollars it earns by selling cars and cameras from US Treasury Bonds (which are earning less than 2%) to investing in the stock market. Japan now holds $1.2 trillion of US Treasury bonds that are almost worthless now as they will likely never be repaid. This is a monumental change. Japanese companies have been buying each other’s stocks to prop up prices. This will create a crisis for the US which is living on borrowed money to pay for military, Medicare and Social Security.
Read More @ LewRockwell.com
Our political-financial system has gone from the dysfunctional to the failed to the surreal.
Speculation, once left to individuals and investors, is now federally
sponsored, subsidized and institutionalized. When this sham finally
buckles and the next shoe falls and rates do eventually rise, the stock
market will tank, liquidity will die, and the broader economy will
plunge into a worse Depression than before. We are not there yet because
of these coordinated moves and the political force behind them. But we are on a precarious path to that inevitability.Read More @ ZeroHedge.com
from The Wealth Watchman:
I was going to write on a different topic today, but I had someone ask me a question, prompted by an exchange he’d read from a certain guru, Mr. Martin Armstrong. The exchange was about whether or not gold and silver were being actively suppressed by banks and governments.
Armstrong continues to come against the argument of long-term suppression, but this shield brother’s question is so crucial, that once I read it, I knew I had to write on this topic immediately. It is becoming more and more important every day, for everyone possible to understand why the manipulation is prosecuted and ongoing, even more than who is doing it or how.
Read More…
“The problem of the last three decades is not the ‘vicissitudes of the marketplace,’ but rather deliberate actions by the government to redistribute income from the rest of us to the one percent. This pattern of government action shows up in all areas of government policy.”
Dean Baker
“Most of them became wealthy by being well connected and crooked. And they are creating a society in which they can commit hugely damaging economic crimes with impunity, and in which only children of the wealthy have the opportunity to become successful. That’s what I have a problem with. And I think most people agree with me.”
Charles Ferguson, Predator Nation
“No lie can live forever.”
Thomas Carlyle
There is a currency war ongoing. It’s objective is the subjugation of whole peoples, including the domestic public. In a very real sense it is nationless.
Read More @ Jessescrossroadscafe.blogspot.ca
Only for those persons who want or need to understand what is going on in the world financially.Here is what is happening:
1. The US is involved in a financial war against Syria, Iran and Russia, by reducing the price of oil to below break even. This frees-up billions in the consumer economy.
2. China is buying cheap oil by the boat loads and is switching its primary source from Iran to Nigeria.
3. Japan (read below) is switching from investing US dollars it earns by selling cars and cameras from US Treasury Bonds (which are earning less than 2%) to investing in the stock market. Japan now holds $1.2 trillion of US Treasury bonds that are almost worthless now as they will likely never be repaid. This is a monumental change. Japanese companies have been buying each other’s stocks to prop up prices. This will create a crisis for the US which is living on borrowed money to pay for military, Medicare and Social Security.
Read More @ LewRockwell.com
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