Two earlier bailouts failed. Repeating what didn’t work expecting a
different result is the clearest definition of political and economic
insanity – creating even greater debt peonage impossible to resolve
without defaulting or demanding creditors take major haircuts.Even then, recovery and restoring economic growth won’t happen while trapped under Eurozone straightjacket rules – preventing Greece from controlling its own monetary and fiscal policy, as well as its currency able to devalue to stimulate exports.
Fascists running things pretending to be social democrats care only about their own self-interest – what best serves them at the expense of millions of suffering Greeks and a death sentence for its economy.
Read More @ Thesleuthjournal.com
3-Year-Old London Child Deemed "Extremist"; Placed In Government Reeducation Program
The United Kingdom has gone batshit crazy. There’s simply no other way to put it...
How A Chinese Farmer Lost More Than Everything Trading Stocks
Submitted by Tyler Durden on 07/28/2015 - 09:50 Just six weeks after one Chinese farmer invested his life savings in the Chinese market, proclaiming "it's a lot easier making money from stocks than farm work," another has lost it all... and more. "I don't know what to do... I trusted the government too much..." he exclaims, adding "I won't touch stocks again, I have ruined everyone in my family."If you think Cilantro tastes like Shit...you could be right...
by Michael Snyder, The Economic Collapse Blog:
Can you feel the panic in the air? CNN Money’s Fear & Greed Index
measures the amount of fear in the financial world on a scale from 0 to
100. The closer it is to zero, the higher the level of fear. Last
Monday, the index was sitting at a reading of 36. As I write this
article, it has fallen to 7. The financial turmoil which began last week
is threatening to turn into an avalanche. On Sunday night, we witnessed
the second largest one day stock market collapse in China ever, and
this pushed stocks all over the planet into the red. Meanwhile, the
twin blades of an emerging market currency crisis and a commodity price crash
are chewing up economies that are dependent on the export of natural
resources all over the globe. For a long time, I have been warning
about what would happen in the second half of 2015, and now it is here.
The following is a summary of the financial carnage that we have seen
over the past 24 hours…
Read More…
Can you feel the panic in the air? CNN Money’s Fear & Greed Index
measures the amount of fear in the financial world on a scale from 0 to
100. The closer it is to zero, the higher the level of fear. Last
Monday, the index was sitting at a reading of 36. As I write this
article, it has fallen to 7. The financial turmoil which began last week
is threatening to turn into an avalanche. On Sunday night, we witnessed
the second largest one day stock market collapse in China ever, and
this pushed stocks all over the planet into the red. Meanwhile, the
twin blades of an emerging market currency crisis and a commodity price crash
are chewing up economies that are dependent on the export of natural
resources all over the globe. For a long time, I have been warning
about what would happen in the second half of 2015, and now it is here.
The following is a summary of the financial carnage that we have seen
over the past 24 hours…Read More…
US Homeownership Drops To 48 Year Low As Median Asking Rent Soars To All Time High
Submitted by Tyler Durden on 07/28/2015 - 11:17 Earlier today, the US Census released its latest homeownership data, which confirmed that for what is left of America's middle class, owning a home has become virtually impossible, with the homeownership rate plunging from the lowest level since 1986, or 63.7%, to just 63.4% the lowest reading since the first quarter of 1967. And the punchline, which should come as no surprise to anyone: with housing no longer affordable to most, the median monthly asking rent just rose to a record $803 across the US.
Sometimes They Do Ring The Bell At The Top
Submitted by Tyler Durden on 07/28/2015 - 10:49 "Look at the data, and you’ll realize that our present concerns are not hyperbole or exaggeration. We simply have not observed the market conditions we observe today except in a handful of instances in market history, and they have typically ended quite badly..."One Economic Datapoint, Two Vastly Different Interpretations
Submitted by Tyler Durden on 07/28/2015 - 10:31
US Economic & Consumer Confidence Plunges To 10-Month Lows As "Hope" Crashes
Submitted by Tyler Durden on 07/28/2015 - 10:07 The Conference Board just reported that US Consumer Confidence, having bounced in June, has collapsed in July (and saw the bounce revised drastically lower). At 90.9, this is the lowest since September 2014 and is below the lowest economist estimate. More worrying is the crash in "hope" - as consumer expectations plunge from 92.8 to 79.9 (lowest since Feb 2014). This should not be a surprise since Gallup has been indicating fading confidence in its weekly survey for a while. 57% of Americans believe the US economy is "getting worse," which has left Gallup's Economic Confidence Index tumbling to its lowest in 10 months.
Biotech Slide Sends Nasdaq, Small Caps Reeling
Submitted by Tyler Durden on 07/28/2015 - 09:56 It all looked so awesome in the pre-open... thanks to the overnight PPT. But as soon as US equity markets opened, the selling began as Biotechs were hammered lower sending Small Caps plunging and Nasdaq into the red...
Obama: "I Think I’m A Pretty Good President. I Think If I Ran Again, I Could Win"
Submitted by Tyler Durden on 07/28/2015 - 09:29 "Now, let me be honest with you," Obama said. "I am in my second term. It has been an extraordinary privilege for me to serve as the President of the United States. I cannot imagine a greater honor or a more interesting job. I love my work. But under our Constitution, I cannot run again." He then added: "I actually think I’m a pretty good president. I think if I ran, I could win. But I can’t. So there’s a lot that I’d like to do to keep America moving, but the law is the law."
Housing Recovery? Case Shiller Home Prices Tumble Most In 10 Months
Submitted by Tyler Durden on 07/28/2015 - 09:10 The 0.18% month-over-month decline in Case Shiller home price index is the biggest since July 2014 which confirms the David Blitzer's view that "over the next two years or so, the rate of home price increases is more likely to slow than to accelerate." His biggest fear is that "first time homebuyers are the weak spot in the market," adding that prices are increasing about twice as fast as inflation or wages. Moreover, other housing measures are less robust - housing starts are only at about 1.2 million units annually, and only about half of total starts are single family homes. Sales of new homes are low compared to sales of existing homes.
China's "Manipulated" Market To Plunge Another 14%, DeMark Predicts
Submitted by Tyler Durden on 07/28/2015 - 08:54 Anyone tempted to gamble on buying the proverbial dip in Chinese equities after Monday’s dramatic 8.5% sell-off probably shouldn’t, says Tom DeMark, who called a top and shortly thereafter, a bottom, in the SHCOMP back in 2013. "The die has been cast. You just cannot manipulate the market."
According To One Veteran FX Trader, "Greece Is Playing It Correctly"
Submitted by Tyler Durden on 07/28/2015 - 08:26 "Greece is playing it correctly. Agree to everything. Give Germany no excuse to do what they want. Get the money. This is why France, among others, want this all agreed as quickly as possible, because they know this deal is not how it will end, but an end that keeps the EUR together must be found. The Germans know it too. They also know that they have been had and it is their own fault."
Has The E&P Industry Lost Touch With Reality?
Submitted by Tyler Durden on 07/28/2015 - 08:08 The U.S. E&P industry is really good at spending other people’s money to increase production. It doesn’t matter if there is a market for the oil and gas. As long as the capital keeps flowing, they will do what they do best. Don’t be distracted by the noisy chatter about savings through efficiency or re-fracking. Just look at the income statements and balance sheets from first quarter and it’s pretty clear that most companies are hemorrhaging cash at these prices. The U.S. rig count increased by 19 this week as oil prices dropped below $48 per barrel – the latest sign that the E&P industry is out of touch with reality.
German Economic Council Backs Exit For "Uncooperative" Eurozone Members
Submitted by Tyler Durden on 07/28/2015 - 07:43 The German Council of Economic Experts is out with a new report on euro area crisis management which backs state bankruptcies and euro exits for governments deemed "uncooperative." "A permanently uncooperative member state should not be able to threaten the existence of the euro. In view of this, the Council of Economic Experts recommends that the withdrawal of a member state from the currency union must be possible as an utterly last resort," the council says.
Futures Soar On Hope Central Planners Are Back In Control, China Rollercoaster Ends In The Red
Submitted by Tyler Durden on 07/28/2015 - 06:49 For the first half an hour after China opened, things looked bleak: after opening down 5%, the Shanghai Composite staged a quick relief rally, then tumbled again. And then, just around 10pm Eastern, we saw a coordinated central bank intervention stepping in to give the flailing PBOC a helping hand, driven by the BOJ but also involving NY Fed members, that sent the USDJPY soaring which in turn dragged ES and most risk assets up with it. And while Shanghai did end up closing down -1.7%, with Shenzhen 2.2% lower at the close, the final outcome was far better than what could have been, with the result being that S&P futures have gone back to doing their thing, and have wiped out all of yesterday's losses in the levitating, zero volume, overnight session which has long become a favorite setting for central banks buying E-Minis.
The British Empire system is continuing to collapse under the weight of the implosion of its financial system. Now it is time to put together a new system that is free of deductive mathematics.
We have been living in a world of folly, of believing in the dollar, in monetary values, instead of the creative, productive values, Lyndon LaRouche told a gathering in Manhattan on Saturday. LaRouche told the participants, the future of Mankind depends on rejecting these mathematical approaches and getting back to some principled standards which are human physical standards. Not mathematical standards, human standards. The increase of the productive powers of labor as represented by the applications of physical principles of development, which can be applied by the practice of human beings.
To do this, the British monarchy and its stooge Obama must be swept away and a new presidency must be brought into existence that will collaborate with Russia, China, and the rest of the BRICS nations.
Read More @ LaRouchePAC.com
from Ron Paul, via minnesotachris:
from Western Journalism:
Social media can be a pathway to political advantage or a slippery
slope into mockery and ridicule. Case in point: Hillary Clinton’s Iowa
visit to a roadside lemonade stand on Saturday.
Here’s the original tweet the Clinton campaign sent out with a photo of the pants-suited candidate holding a red cup, presumably filled with the delicious drink the enamored girls have just sold, or given, to her.
It didn’t take long for a few Hillary supporters to say how cute and adorable they thought the picture was. But of course there were the snarky responses that show just how clever and caustic some Twitter users can be at the expense of a politician whose authenticity as a fighter for the American middle class is often questioned.
Read More @ WesternJournalism.com
Social media can be a pathway to political advantage or a slippery
slope into mockery and ridicule. Case in point: Hillary Clinton’s Iowa
visit to a roadside lemonade stand on Saturday.Here’s the original tweet the Clinton campaign sent out with a photo of the pants-suited candidate holding a red cup, presumably filled with the delicious drink the enamored girls have just sold, or given, to her.
It didn’t take long for a few Hillary supporters to say how cute and adorable they thought the picture was. But of course there were the snarky responses that show just how clever and caustic some Twitter users can be at the expense of a politician whose authenticity as a fighter for the American middle class is often questioned.
Read More @ WesternJournalism.com
from Waking Times:
How to end a century of lies and mass mind manipulation ushered in by one man…
America has been plagued by a powerful mind control tactic which was suggested, experimented with, and fully implemented over a century ago by a man named Edward Bernays. The time has come for Americans to come to grips with the content and theories that Bernays used to influence American history. It’s time to call out the legacy of deceit and manipulation that this man brought to American history; by doing this, only then can America begin to heal from the web of psychological damage inflicted on a nation.
Read More @ WakingTimes.com
How to end a century of lies and mass mind manipulation ushered in by one man…America has been plagued by a powerful mind control tactic which was suggested, experimented with, and fully implemented over a century ago by a man named Edward Bernays. The time has come for Americans to come to grips with the content and theories that Bernays used to influence American history. It’s time to call out the legacy of deceit and manipulation that this man brought to American history; by doing this, only then can America begin to heal from the web of psychological damage inflicted on a nation.
Read More @ WakingTimes.com
by Peter Cooper, Arabian Money:
Famously controversial futurologist, economist and business cycle
expert Martin Armstrong, who forecast ‘$5,000+’ an ounce gold for 2016
on November 7th 2009 more than five years ago, now says gold touched
rock bottom last week.
His website comment last week said: ‘If we hold $1,084 for the weekly closing, then we can see a two week bounce and everyone will proclaim the low, so hurry up and buy more.’
Gold’s rising now
Gold bounced back to $1,099 at the close of last week, comfortably beating this bottom-marker and proclaiming the end of the recent sell-off.
Read More @ ArabianMoney.com
Famously controversial futurologist, economist and business cycle
expert Martin Armstrong, who forecast ‘$5,000+’ an ounce gold for 2016
on November 7th 2009 more than five years ago, now says gold touched
rock bottom last week.His website comment last week said: ‘If we hold $1,084 for the weekly closing, then we can see a two week bounce and everyone will proclaim the low, so hurry up and buy more.’
Gold’s rising now
Gold bounced back to $1,099 at the close of last week, comfortably beating this bottom-marker and proclaiming the end of the recent sell-off.
Read More @ ArabianMoney.com
by Jeff Nielson, Bullion Bulls:
Just when we all thought the Greek Crisis was “over”, for a few months, until Greece is bankrupt, again; we now hear of a new report from Greece which has (belatedly) been leaked out. The contents of this “leak” are almost as interesting as the implications of this “secret plot”.
According to the Financial Times (via Zero Hedge); the secret plot to free Greece from the economic choke-hold of “the Troika” and free the people from debt slavery was elegant in its simplicity:
Arresting the central bank’s governor. Emptying its vaults. Appealing to Moscow for help.
So far; there is little in this plan which should seem at all outrageous or controversial, to any informed readers. The “Syriza rebels” (as Zero Hedge dubs them) planned to arrest the senior representative of the banking crime syndicate in their own nation: their “central bank governor”. They planned to take back what this criminal bank was hoarding from and not holding for the Greek people. And they planned to look outside the corrupt, fascist, Western bloc – as they tried to escape from their (so-called) “allies”.
Read More BullionBullsCanada.com
Just when we all thought the Greek Crisis was “over”, for a few months, until Greece is bankrupt, again; we now hear of a new report from Greece which has (belatedly) been leaked out. The contents of this “leak” are almost as interesting as the implications of this “secret plot”.
According to the Financial Times (via Zero Hedge); the secret plot to free Greece from the economic choke-hold of “the Troika” and free the people from debt slavery was elegant in its simplicity:
Arresting the central bank’s governor. Emptying its vaults. Appealing to Moscow for help.
So far; there is little in this plan which should seem at all outrageous or controversial, to any informed readers. The “Syriza rebels” (as Zero Hedge dubs them) planned to arrest the senior representative of the banking crime syndicate in their own nation: their “central bank governor”. They planned to take back what this criminal bank was hoarding from and not holding for the Greek people. And they planned to look outside the corrupt, fascist, Western bloc – as they tried to escape from their (so-called) “allies”.
Read More BullionBullsCanada.com
from Wolf Street:
Corn plunged another 4.66% today, with September futures hitting $373
per bushel, after having already plunged nearly 7% last week. Corn has
gotten massacred. Since July 14, it has dropped 15%.
This chart shows its powerful but ephemeral breakout attempt that started in late June and collapsed on July 14.
But it’s not like corn has been in a bubble recently. Corn farmers have been lamenting the crummy price they’ve been getting for their product for a while. In July 2012, corn soared to $825 a bushel. Whatever that was – a bubble or a reasonable price – it made everyone smile, from the bankers that were financing farmland to the smallest growers. But the fun didn’t last long.
Read More @ Wolfstreet.com
Corn plunged another 4.66% today, with September futures hitting $373
per bushel, after having already plunged nearly 7% last week. Corn has
gotten massacred. Since July 14, it has dropped 15%.This chart shows its powerful but ephemeral breakout attempt that started in late June and collapsed on July 14.
But it’s not like corn has been in a bubble recently. Corn farmers have been lamenting the crummy price they’ve been getting for their product for a while. In July 2012, corn soared to $825 a bushel. Whatever that was – a bubble or a reasonable price – it made everyone smile, from the bankers that were financing farmland to the smallest growers. But the fun didn’t last long.
Read More @ Wolfstreet.com
from WhyGoldandSilver:
from BPEarthWatch :
This ground water is pouring into the Pacific Ocean, it is becoming a Dead Zone http://www.Enenews.Com
This ground water is pouring into the Pacific Ocean, it is becoming a Dead Zone http://www.Enenews.Com
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