Some really weird things are happening in the financial world right
now. If you go back to 2008, there was lots of turmoil bubbling just
underneath the surface during the months leading up to the great stock
market crash in the second half of that year. When Lehman Brothers
finally did collapse, it was a total shock to most of the planet, but we
later learned that their problems had been growing for a long time. I
believe that we are in a similar period right now, and the second half
of this year promises to be quite chaotic. Apparently, those that run
some of the largest exchange-traded funds in the entire world agree with
me, because as you will see below they are quietly preparing for a
“liquidity crisis” and a “market meltdown”. About a month ago, I warned
of an emerging “liquidity squeeze“,
and now analysts all over the financial industry are talking about it.
Could it be possible that the next great financial crisis is right
around the corner?Read More…
Obama Becoming Global Joke? King Of Bahrain Snubs US President, Meets Horse Instead
Submitted by Tyler Durden on 05/14/2015 - 12:26 Having been 'snubbed' by the new Saudi King Salman, it appears the uneasy relationshipo with our 'allies' in The Gulf is ebbing. In what the State Department will, we are sure, just brush off, Politico reports that the king of Bahrain has apparently also snubbed President Barack Obama, preferring instead to attend a horse show with Queen Elizabeth.from Boom Bust:
Seymour Hersh Rages: "I Am Not Backing Off Anything I Said", Slams Establishment Media
Submitted by Tyler Durden on 05/14/2015 - 13:27 "...if anyone didn’t think the president was going to f##k [the Pakistani military] they are out of their mind. He was always going to f##k them.... The White House has been very clever about this. They have gone after me personally. They don’t like me boo hoo hoo.... Don’t turn this into some sort of profound anti-American statement."
In Stunning U-Turn, NBC Retracts Story That Obama Lied About bin Laden
Submitted by Tyler Durden on 05/14/2015 - 10:38 It would appear someone at NBC News got a rather large tap on the shoulder. In what is a stunning reversal of their confirmation that President Obama lied and lying about the killing of bin Laden, NBC News has updated their original story - that "two intelligence sources tell NBC News that the year before the U.S. raid that killed Osama bin Laden, a 'walk in' asset from Pakistani intelligence told the CIA where the most wanted man in the world was hiding" - to this - "Sources say that while the asset provided information vital to the hunt for bin Laden, he was not the source of his whereabouts." As Slate concludes, while NBC’s story doesn’t use the word correction or retraction, that’s what this appears to be.
by Mac Slavo, SHTFPlan:
It can be difficult to understand the repercussions that would follow a
collapse of the global economy, stocks and debt markets. While we know a
serious financial event is coming, determining how it will impact our
lives and preparing an appropriate strategic plan to mitigate the
fallout can be a confusing and stressful undertaking.
The questions being asked by concerned Americans are plenty, but the answers are not so easy to come by. Should I keep money in my retirement accounts? What publicly traded companies are recession-proof? Will gold and silver really be of value if the whole system comes crashing down? Should I have some cash? How much food should I stockpile if the regular flow of commerce is affected? Will there be riots in my city?
Read More @ SHTFPlan.com
It can be difficult to understand the repercussions that would follow a
collapse of the global economy, stocks and debt markets. While we know a
serious financial event is coming, determining how it will impact our
lives and preparing an appropriate strategic plan to mitigate the
fallout can be a confusing and stressful undertaking.The questions being asked by concerned Americans are plenty, but the answers are not so easy to come by. Should I keep money in my retirement accounts? What publicly traded companies are recession-proof? Will gold and silver really be of value if the whole system comes crashing down? Should I have some cash? How much food should I stockpile if the regular flow of commerce is affected? Will there be riots in my city?
Read More @ SHTFPlan.com
from Gold Core:
Global debt is now in the region of $200 trillion. The McKinsey Global
Institute recently published a report highlighting the bloated,
unsustainable levels of debt that have been accumulated globally and the
huge risks when interest rates begin to rise again.
McKinsey concluded that total global debt was $199 trillion and the little covered report was released in February – 3 months ago – meaning that the figure is likely over $200 trillion. With a global population of 7.3 billion this works out out at over $27,200 of debt for every man, woman and child alive in the world today.
Almost 29% of that debt – $57 trillion – has been accumulated in the relative short period since the financial crisis erupted in 2007 – just 8 years.
Read More @ GoldCore.com
Global debt is now in the region of $200 trillion. The McKinsey Global
Institute recently published a report highlighting the bloated,
unsustainable levels of debt that have been accumulated globally and the
huge risks when interest rates begin to rise again.McKinsey concluded that total global debt was $199 trillion and the little covered report was released in February – 3 months ago – meaning that the figure is likely over $200 trillion. With a global population of 7.3 billion this works out out at over $27,200 of debt for every man, woman and child alive in the world today.
Almost 29% of that debt – $57 trillion – has been accumulated in the relative short period since the financial crisis erupted in 2007 – just 8 years.
Read More @ GoldCore.com
from RT:
The White House is determined to block the rise of the key
nuclear-armed nations, Russia and China, neither of whom will join the
“world’s acceptance of Washington’s hegemony,” says head of the
Institute for Political Economy, Paul Craig Roberts.
The former US assistant secretary of the Treasury for economic policy, Dr Paul Craig Roberts, has written on his blog that Beijing is currently “confronted with the Pivot to Asia and the construction of new US naval and air bases to ensure Washington’s control of the South China Sea, now defined as an area of American National Interests.”
Read More @ RT.com
The White House is determined to block the rise of the key
nuclear-armed nations, Russia and China, neither of whom will join the
“world’s acceptance of Washington’s hegemony,” says head of the
Institute for Political Economy, Paul Craig Roberts.The former US assistant secretary of the Treasury for economic policy, Dr Paul Craig Roberts, has written on his blog that Beijing is currently “confronted with the Pivot to Asia and the construction of new US naval and air bases to ensure Washington’s control of the South China Sea, now defined as an area of American National Interests.”
Read More @ RT.com
As If 85 Million Avon Products Shares Short Suddenly Cried Out And Were Suddenly Silenced
Submitted by Tyler Durden on 05/14/2015 - 12:00 How do you make what had been a very good couple of years for tens of thousands of Avon Products shorts into an absolute nightmare of a day? By doing what PTG Partners just did when moments ago it announced that, out of the blue, it would like to purchase AVP for a price of $18.75 or nearly three times higher than the Avon stock price moments before the announcement. Because why pay double when triple would do.
No Bubble Here: $1.5 Million 750 SqFt. Flat; Rent-A-Bed $1,000/Month Or 20 Beds In 7-Bedroom House $21,000/Month
Submitted by Tyler Durden on 05/14/2015 - 11:34 The incredible luxury of having a bedroom to yourself is out of reach for all but the very well-paid. Having an apartment to yourself requires serious money.
By now, I think we all know that fast food is incredibly unhealthy,
and eating it on a regular basis is a surefire way to wreck your body
and mind. The purveyors of these foods (if you can call what they serve
“food”), are now viewed with as much disdain as the tobacco companies,
and the sales for companies like McDonald’s have been declining across the board
for the better part of a year. So not only are we all aware of the
health consequences of this food, but many of us are starting walk the
walk.However, not everyone agrees on why these foods are so bad for us. Some say it’s the sugar, some say it’s the fat, while others believe it’s due to the processed nature of these products. Maybe it’s some combination of all three. What’s more important though, is how these ingredients can wreak so much havoc on our bodily functions.
Read More @ ReadyNutrition.com
Saudis Declare Victory Over Shale Just As US Oil Production Jumps, Bakken Wells Hit Record
Submitted by Tyler Durden on 05/14/2015 - 11:13 Yesterday, the FT reported that Saudi Arabia gloated in declaring victory over US shale. “There is no doubt about it, the price fall of the last several months has deterred investors away from expensive oil including US shale, deep offshore and heavy oils,” a Saudi official told the Financial Times in Riyadh, giving a rare insight into the kingdom’s thinking on oil strategy. Which is great, but there are two problems. First, any time someone say "there is no doubt about it", or "unambiguously this or that", it is a lie. Second, Saudi Arabia is dead wrong.
Another Train Derails In Pennsylvania, 10 Cars Off Track Near Pittsburgh - Live Feed
Submitted by Tyler Durden on 05/14/2015 - 11:00 For the second time in a week, amid ongoing discussions on infrastructure spending, a train has derailed in Pennsylvania. As CBS Pittsburgh reports, emergency crews have been called to a train derailment in Hazelwood. At least 10 cars are off the track but no injuries have been reported yet.
Why There Has Been No Recovery (In One Simple Chart): A Harvest Of Corruption
Submitted by Tyler Durden on 05/14/2015 - 10:18
If the people have no money, they may buy no goods, even essentials, without falling ever more deeply into debt. That
is not so difficult to understand... unless your paycheck demands that
you not only cannot understand it, but not even see it, or talk
publicly about it.
Bund "Stable" As Put-Call Ratio Collapses To 6-Month Low
Submitted by Tyler Durden on 05/14/2015 - 09:52 Bund yields rose once again overnight, testing last week's melt-up 77bps top briefly but have 'stabilized' as US markets come online hovering 1bps lower. As bund prices have collapsed so it appears knife-catchers have been busily leveraging up with Call option open interest soaring dramatically (and put option open interest). This has smashed the put-call ratio from multi-year highs in mid-March (before the collapse began) to 6-month lows now. Whether this is a contrarian's dream is unclear (suggesting that there is further price downside as the weight of positions are skewed to the upside is unclear).Kansas City Southern Gives Disastrous Economic Update, Pulls Guidance, Announces Stock Buyback
Submitted by Tyler Durden on 05/14/2015 - 09:37
Gold Breaks Key Technical To 3-Month High, Silver Surging
Submitted by Tyler Durden on 05/14/2015 - 09:27 The last 3 days have seen precious metals surging. Silver is up over 7% - its biggest such rise since Aug 2013, and Gold up 3% - its largest in 4 months. Volume is heavy also. A specific catalyst is unclear but USD weakness is being cited, weak macro data suggesting further easing, China demand ahead of SDR-backing, and finally the realization that the Chinese shift to unconventional monetary policy (LTROs) is a slippery slope to full-blown QE from which few (if any) have ever escaped.
Amtrak Train Conductor Has "No Recollection, Explanation" For Deadly Derailment
Submitted by Tyler Durden on 05/14/2015 - 09:07 A lawyer for the conductor of Amtrak Regional 188 which derailed earlier this week killing 7 and injuring hundreds says his client has no recollection of the event and no explanation for what happened. Meanwhile, politicians rush to blame infrastructure spending.
Wholesale Deflation Strikes US Economy: April PPI Has Biggest Annual Drop In 5 Years
Submitted by Tyler Durden on 05/14/2015 - 08:46 Something funny happened on the way to the global reflation (telegraphed so loudly by the recent surge in 10Y yields to the highest level of 2015): PPI just crumbled by a sequential 0.4% in the month of April, despite expectations it would rise by 0.1% and continue the 0.2% monthly increase seen in March. This was a -1.3% drop in PPI - the fastest fall in 5 years. Worse, the annual decline in final demand goods was -5.2% Y/Y, the biggest drop in the revised series in record!Alasdair Macleod, Director of Research for Gold Money joins us to cover the sorry state of the US economy, which at this point is on death watch when measured with REAL accounting data like plummeting GDP and the downward revisions in the BLS reports.
In fact, according to John Williams from shadowstats, as the ranks of the unemployed in the United States has reached 23%, the economy is now suffering the effects of inflation, and Williams says, we are on track to hit hyperinflation of the Dollar in 2016. The problems that led to the 2008 economic crisis have not been addressed or fixed and loose monetary policy continues unabated.
With the average age of a minimum age worker in the United States 36 years old, and with 93 million Americans out of the workforce altogether, hyperinflation of the Dollar is the death knell for the Republic and for all we once held dear.
Alasdair Macleod points out that once confidence in a currency is lost, that currency is doomed. At that point, panic ensues, and we are now headed in that direction. Alasdair says, “There will be people in the west panicking because they haven’t got any physical silver or gold.” And by the time the panic is palpable, it will be too late.
While the media has been busy trying to reassure the public over the
frightening tone and scope of the Jade Helm 15 military exercises, it is
clear that many Americans are not buying it.Establishment outlets everywhere are scrambling to declare with authority that there is nothing to see here.
A cursory news search reveals a clear meme being circulated that all is quiet on the front and that Jade Helm is most certainly not martial law training:
Read More @ SHTFPlan.com
from The Daily Coin:
Chris Powell, for the past fifteen years has been in the trenches, climbing up-hill to remind governments, and everyday people, that without free markets we are enslaved by totalitarian governments. Governments that dictate our movements through heavy-handed manipulation of currencies and, more importantly, gold.
Gold is the deadly threat to all governments, including the Chinese government. Gold is a free market independent currency and puts all government currency at risk. Is China really working in the gold market for free markets and democracy and individual liberty around the world? No, I don’t think so. China, I think, is mainly working to hedge it’s stupid U.S. dollar exposure. – Chris Powell
Read More @ TheDailyCoin.org
Chris Powell, for the past fifteen years has been in the trenches, climbing up-hill to remind governments, and everyday people, that without free markets we are enslaved by totalitarian governments. Governments that dictate our movements through heavy-handed manipulation of currencies and, more importantly, gold.
Gold is the deadly threat to all governments, including the Chinese government. Gold is a free market independent currency and puts all government currency at risk. Is China really working in the gold market for free markets and democracy and individual liberty around the world? No, I don’t think so. China, I think, is mainly working to hedge it’s stupid U.S. dollar exposure. – Chris Powell
Read More @ TheDailyCoin.org
from Survival Blog:
Before we begin, note that the title is a bit of a misnomer. Digital
security is mostly nonexistent. When computers took off, security was
never a concern, so they are inherently insecure. I will do my best to
help you secure your computer as much as possible. The point isn’t to
make your computer invulnerable to attack. That’s impossible. However,
just like your survival retreat security, the goal is to make yourself
such a hard target that hackers or the government move on to lower
hanging fruit. Again, nothing in here will make you immune to the NSA.
They have an essentially unlimited budget and thousands of personnel
dedicated to cracking all the methods included herein. I will simply
guide you through the process of making yourself a hard target. You will
be immune to dragnet surveillance and most hacking attacks. Also note
that merely Googling most of this software will get your IP address
logged on an NSA database. Therefore, use https://www.duckduckgo.com/ for better security. Without further ado, let’s begin.Read More @ SurvivalBlog.com
from The Daily Sheeple:
Beginning in 1903, Congress voted to create the Civilian Marksmanship
Program, with the intention of familiarizing the public with military
firearms. It was founded at a time when the Army was switching over to
bolt action rifles, and they wanted to ensure that members of the public
would be proficient with these new weapons, should they ever be drafted
in wartime. The CMP still exists today, providing training through a
series of clubs in every state, and selling vintage military firearms.
But a new provision to this year’s National Defense Authorization Act might add new firearms to the list of weapons currently sold. As of now, the CMP is authorized to sell rifles like the M1 Garand and M1 Carbine, but should this provision pass, the military may be obligated to sell 100,000 untraceable M1911 pistols to the public. As expected, the usual suspects at the Huffington Post are hyperventilating over this possibility.
Read More @ TheDailySheeple.com
Beginning in 1903, Congress voted to create the Civilian Marksmanship
Program, with the intention of familiarizing the public with military
firearms. It was founded at a time when the Army was switching over to
bolt action rifles, and they wanted to ensure that members of the public
would be proficient with these new weapons, should they ever be drafted
in wartime. The CMP still exists today, providing training through a
series of clubs in every state, and selling vintage military firearms.But a new provision to this year’s National Defense Authorization Act might add new firearms to the list of weapons currently sold. As of now, the CMP is authorized to sell rifles like the M1 Garand and M1 Carbine, but should this provision pass, the military may be obligated to sell 100,000 untraceable M1911 pistols to the public. As expected, the usual suspects at the Huffington Post are hyperventilating over this possibility.
Read More @ TheDailySheeple.com
from The News Doctors:
If the Middle East has lived under the guise of western oligarchs
since the fall of the Ottoman Empire (WWI), held hostage to foreign
powers’ will and desire to rule and control some of the world’s most
precious natural resources: oil, gas and minerals, Washington has upped
its game of thrones in Iraq of late, as it is looking to become the
region’s new cartographer.
Just as ISIS has become a force to be reckoned with, the US Department of Defence is advocating Iraq’s partition, hoping to exploit Kurdistan’s secessionist ambitions to act an American proxy in this grand campaign for the Middle East we see raging on.
Read More @ TheNewsDoctors.com
If the Middle East has lived under the guise of western oligarchs
since the fall of the Ottoman Empire (WWI), held hostage to foreign
powers’ will and desire to rule and control some of the world’s most
precious natural resources: oil, gas and minerals, Washington has upped
its game of thrones in Iraq of late, as it is looking to become the
region’s new cartographer.Just as ISIS has become a force to be reckoned with, the US Department of Defence is advocating Iraq’s partition, hoping to exploit Kurdistan’s secessionist ambitions to act an American proxy in this grand campaign for the Middle East we see raging on.
Read More @ TheNewsDoctors.com
from TRUTHstreammedia:
Looking behind the illusions of foreign elections is much like lifting
up a rock and exposing an underworld of creeping, crawling insects.
You know that when you lift the rock you’re going to see some ugly things that you’d rather not look at but exposing the dark side of the rock to sunshine gives the rock a chance to cleanse itself as the bugs slither and scatter to find another place to hide.
Do you really think Conservative Prime Minister David Cameron won the UK elections? Actually, according to Politico, “Jim Messina Trounces David Axelrod in British Elections.”
Read More @ TruthStreamMedia.com
Looking behind the illusions of foreign elections is much like lifting
up a rock and exposing an underworld of creeping, crawling insects.You know that when you lift the rock you’re going to see some ugly things that you’d rather not look at but exposing the dark side of the rock to sunshine gives the rock a chance to cleanse itself as the bugs slither and scatter to find another place to hide.
Do you really think Conservative Prime Minister David Cameron won the UK elections? Actually, according to Politico, “Jim Messina Trounces David Axelrod in British Elections.”
Read More @ TruthStreamMedia.com
from Western Journalism:
A Special Forces unit based in Fort Bragg, North Carolina is
conducting joint exercises with a local police force in and around
Columbia, South Carolina this week.
The exercises, which involve the 3rd Special Forces Group and the Richland County Sheriff Department’s SWAT team, will be taking place during late-night and pre-dawn hours and will run until May 15.
Military and sheriff’s department vehicles will be traveling in the Lower Richland County community near Eastover and Hopkins, in Elgin near Screaming Eagle Road, and North Richland County in the Monticello Road area. The sheriff’s department says people in those areas may also hear ordinance being set off or shots being fired. They say those will be simulations or blanks and do not pose a risk to the community.
Read More @ WesternJournalism.com
A Special Forces unit based in Fort Bragg, North Carolina is
conducting joint exercises with a local police force in and around
Columbia, South Carolina this week.The exercises, which involve the 3rd Special Forces Group and the Richland County Sheriff Department’s SWAT team, will be taking place during late-night and pre-dawn hours and will run until May 15.
Military and sheriff’s department vehicles will be traveling in the Lower Richland County community near Eastover and Hopkins, in Elgin near Screaming Eagle Road, and North Richland County in the Monticello Road area. The sheriff’s department says people in those areas may also hear ordinance being set off or shots being fired. They say those will be simulations or blanks and do not pose a risk to the community.
Read More @ WesternJournalism.com
“The government is merely a servant―merely
a temporary servant; it cannot be its prerogative to determine what is
right and what is wrong, and decide who is a patriot and who isn’t. Its
function is to obey orders, not originate them.” ― Mark Twain
by John W. Whitehead, Rutherford Institute:
How many Americans have actually bothered to read the Constitution, let alone the first ten amendments to the Constitution, the Bill of Rights (a quick read at 462 words)?
Take a few minutes and read those words for yourself—rather than having some court or politician translate them for you—and you will be under no illusion about where to draw the line when it comes to speaking your mind, criticizing your government, defending what is yours, doing whatever you want on your own property, and keeping the government’s nose out of your private affairs.
In an age of overcriminalization, where the average citizen unknowingly commits three crimes a day, and even the most mundane activities such as fishing and gardening are regulated, government officials are constantly telling Americans what not to do. Yet it was not always this way. It used to be “we the people” telling the government what it could and could not do. Indeed, the three words used most frequently throughout the Bill of Rights in regards to the government are “no,” “not” and “nor.”
Read More @ Rutherford.org
by John W. Whitehead, Rutherford Institute:
How many Americans have actually bothered to read the Constitution, let alone the first ten amendments to the Constitution, the Bill of Rights (a quick read at 462 words)?Take a few minutes and read those words for yourself—rather than having some court or politician translate them for you—and you will be under no illusion about where to draw the line when it comes to speaking your mind, criticizing your government, defending what is yours, doing whatever you want on your own property, and keeping the government’s nose out of your private affairs.
In an age of overcriminalization, where the average citizen unknowingly commits three crimes a day, and even the most mundane activities such as fishing and gardening are regulated, government officials are constantly telling Americans what not to do. Yet it was not always this way. It used to be “we the people” telling the government what it could and could not do. Indeed, the three words used most frequently throughout the Bill of Rights in regards to the government are “no,” “not” and “nor.”
Read More @ Rutherford.org
from Wolf Street:
I was forewarned. On April 25, Julian the trucker posted this comment on WOLF STREET:
Have been trapped on the West Coast for the last week. Freight has slowed to a crawl, with way too much time on the loads, and the truck stops are filling up too early in the day. I had to pay for a parking place in Castaic, CA, night before last because the Pilot was full at 4:30 in the afternoon. Finally got a load to Little Rock. But it doesn’t load till late tonight and has more time on it than usual. We usually experience slowdowns before the rest of the country becomes aware of them.
Read More @ Wolfstreet.com
image/gstatic.com
Have been trapped on the West Coast for the last week. Freight has slowed to a crawl, with way too much time on the loads, and the truck stops are filling up too early in the day. I had to pay for a parking place in Castaic, CA, night before last because the Pilot was full at 4:30 in the afternoon. Finally got a load to Little Rock. But it doesn’t load till late tonight and has more time on it than usual. We usually experience slowdowns before the rest of the country becomes aware of them.
Read More @ Wolfstreet.com
image/gstatic.com
from KafkaWinstonWorld:
from KingWorldNews:
Despite the indexes still trading near record levels there was a
further contraction in advisor optimism and even some new bear
projections. While index highs could be retested medium term investors
should be cautious after the recent lofty readings for the bulls.
The index selloff to lows on 6-May caused a new contraction for the bulls to 47.5%. It was 52.5% and 57.4% the prior two weeks. That latter reading almost hit historic danger levels suggesting many advisors were near fully invested. Bulls above 50% show elevated risk and that has persisted since Nov-14 with only a few weeks of exceptions. There was a small increase for the bears at 15.8%, up from the 2015 low a week ago at 13.9%.
The spread between the bulls and bears further contracted to 31.7%, down from 38.6% a week ago. It is also down 11.8% from the 43.5% difference before that, a dangerously high reading last seen late Feb. Differences over 30% are a worry and above 40% signal major caution.
Read More @ KingWorldNews.com
Despite the indexes still trading near record levels there was a
further contraction in advisor optimism and even some new bear
projections. While index highs could be retested medium term investors
should be cautious after the recent lofty readings for the bulls. The index selloff to lows on 6-May caused a new contraction for the bulls to 47.5%. It was 52.5% and 57.4% the prior two weeks. That latter reading almost hit historic danger levels suggesting many advisors were near fully invested. Bulls above 50% show elevated risk and that has persisted since Nov-14 with only a few weeks of exceptions. There was a small increase for the bears at 15.8%, up from the 2015 low a week ago at 13.9%.
The spread between the bulls and bears further contracted to 31.7%, down from 38.6% a week ago. It is also down 11.8% from the 43.5% difference before that, a dangerously high reading last seen late Feb. Differences over 30% are a worry and above 40% signal major caution.
Read More @ KingWorldNews.com
by Susan Jones, CNS News:
President Barack Obama told a gathering at Georgetown University on
Tuesday that the problem isn’t racial segregation, it’s wealth
segregation, manifested by “elites” who “are able to live together, away
from folks who are not as wealthy.”
“Kids start going to private schools,” he said. (Just as he did and his own kids do.)
Once upon a time, the president noted, a banker lived in “reasonable proximity” to the school janitor; the janitor’s daughter may have dated the banker’s son; they may have attended the same church, rotary club, and public parks — “all the things that stitch them together…contributing to social mobility and to a sense of possiblity and opportunity for all kids in that community.”
Read More @ CNS News.com:
President Barack Obama told a gathering at Georgetown University on
Tuesday that the problem isn’t racial segregation, it’s wealth
segregation, manifested by “elites” who “are able to live together, away
from folks who are not as wealthy.”“Kids start going to private schools,” he said. (Just as he did and his own kids do.)
Once upon a time, the president noted, a banker lived in “reasonable proximity” to the school janitor; the janitor’s daughter may have dated the banker’s son; they may have attended the same church, rotary club, and public parks — “all the things that stitch them together…contributing to social mobility and to a sense of possiblity and opportunity for all kids in that community.”
Read More @ CNS News.com:
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