A Full-Blown Depression Will Soon Force Radical Change
With continued volatility in global markets, today one of the top economists in the world sent King World News an incredibly powerful piece warning that a full-blown depression will force radical changes.
On December 16th, 1773 the Sons of Liberty in Boston, in protest of the Tea Act, destroyed an entire shipment of tea sent by the East India Company, in a political protest referred to as the Boston Tea Party.
Following the Wall Street bail-outs in 2009, a political movement also protesting their lack of representation in government sought a reduction of the U.S. national debt and deficits by reducing government spending and lowering taxes. They were referred to as The Tea Party, named from the aforementioned Boston variety…
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The 'Problem' With Bernie Sanders
Bernie Sanders’s entry into the presidential race has sparked a nationwide conversation about socialism and its potential to remedy the real and perceived pathologies suffered by Americans. The underlying problem with socialists like Bernie Sanders is that they do not actually believe (or understand) in economics at all. As Ludwig von Mises himself has pointed out, socialism is not an economic theory — it is a theory of redistribution.Global Debt And GDP: Spot The Odd One Out
Submitted by Tyler Durden on 10/18/2015 - 17:25Getting History Right - Saving Capitalism From Monetary Mismanagement
Submitted by Tyler Durden on 10/18/2015 - 17:00 Capitalism isn’t – wasn’t – the problem. The culprit instead was unsound finance and deeply flawed monetary management. In short, Capitalism cannot function effectively within a backdrop of unfettered cheap finance. Things appear miraculous during the boom, and then the bust discombobulates. Contemporary central bank rate administration essentially abandoned the self-adjusting and regulating market system for determining the price of finance – so fundamental to Capitalism.America's "Inevitable" Revolution & The Redistribution Fallacy
Submitted by Tyler Durden on 10/18/2015 - 15:15 "There are so many fault lines that the nation seems consumed by a conflict of all against all... there is an inevitable “revolution” coming because our politics, culture, education, economics and even philanthropy are so polarized that the country can no longer resolve its differences."Goldman Mocks "Constitutionally Dovish" Fed, Sees December Rate Hike Odds At 60% To Offset "Credibility Problem"
Submitted by Tyler Durden on 10/18/2015 - 14:52 Q: Why do you still expect the FOMC to hike rates in December?A: Because the FOMC leadership has said that a rate hike by the end of the year is likely if the economy and markets evolve broadly as expected. Our near-term forecast is similar to theirs, so our baseline is also that they hike.
Malaysian Lawmakers Call For No Confidence Vote Against PM Amid Goldman Slush Fund Probe
Submitted by Tyler Durden on 10/18/2015 - 15:50 "Najib has tarnished the country’s image in the world and caused investors to lose faith in the government. Malaysians do not believe in this prime minister."Undersize Me? McDonald's Franchise Owners Admit Fast Food Giant "Facing Its Final Days"
Submitted by Tyler Durden on 10/18/2015 - 12:00 “We are in the throes of a deep depression, and nothing is changing,” a franchise owner wrote in response to a financial survey by Nomura Group that warned "probably 30% of operators are insolvent." One owner went as far as to speculate that McDonald’s is literally “facing its final days.”Dear Friend of GATA and Gold:
While there doesn’t seem to be anything in it about direct intervention and trading in the gold market by central banks, Tocqueville Gold Fund manager John Hathaway’s third-quarter letter is compelling reading and cites developments called to your attention by GATA.
Hathaway writes: “On a technical level, the well-documented shift of physical gold ownership from Western investment hands to Asian will in our opinion threaten the highly levered institutions that intermediate financial and physical gold markets. The intermediaries include Comex, LBMA, the over-the-counter market, and bullion banks.
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from The Burning Platform:
As you walk in you survey your intended victims.
And here the story diverges into two scenarios.
In one you note on the way in a sign that says GUN FREE ZONE. You know this is backed up by a law. The place might be a school, a playground or some other public place. You’re reasonably sure there are no weapons there — other than yours, of course.
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You’re a psychotic mass-murderer about to commit your horrific crime.
You walk into a place intending to shoot it up. Maybe it’s a
school, maybe it’s a shopping mall, who cares. The important thing is
that you’re intent on mass-murder and you are armed to the teeth.As you walk in you survey your intended victims.
And here the story diverges into two scenarios.
In one you note on the way in a sign that says GUN FREE ZONE. You know this is backed up by a law. The place might be a school, a playground or some other public place. You’re reasonably sure there are no weapons there — other than yours, of course.
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from Outsider Club:
“What’s good for General Motors is good for America.”
I thought of that famous quote mid-week when Wal-Mart issued a downwardly-revised forecast for fiscal 2016 sales. WMT shares were hammered, suffering their largest one-day decline in 15 years.
So, can we surmise that what’s bad for Wal-Mart is bad for America?
Yes, and it’s just another brick in the wall of worry that currently occupies my mind. Wal-Mart is a bellwether for the performance of the U.S. economy, and bad news out of Bentonville only strengthens my bearish convictions.
Before we jump to conclusions based on a few headlines — I’ll let the folks on CNBC do that — let’s establish a few facts.
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“What’s good for General Motors is good for America.”
I thought of that famous quote mid-week when Wal-Mart issued a downwardly-revised forecast for fiscal 2016 sales. WMT shares were hammered, suffering their largest one-day decline in 15 years.
So, can we surmise that what’s bad for Wal-Mart is bad for America?
Yes, and it’s just another brick in the wall of worry that currently occupies my mind. Wal-Mart is a bellwether for the performance of the U.S. economy, and bad news out of Bentonville only strengthens my bearish convictions.
Before we jump to conclusions based on a few headlines — I’ll let the folks on CNBC do that — let’s establish a few facts.
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According to most precious metal investors, a day of reckoning is rapidly approaching for the silver market. The numbers just don’t seem to add up. Government mints all across the planet are running low on silver as investors snap up as many coins as they can. The US Mint alone managed to sell nearly 15 million ounces of silver last quarter, which is the most they’ve ever sold since they started keeping track in 1986. At one point they even had to ration their Silver Eagles.
Meanwhile, the price of silver is still hovering at around $16 per ounce. At first glance it doesn’t really make sense. There seems to be plenty of demand, supply is looking low, and yet the price hasn’t really changed a whole lot. What gives?
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Gold price suppression!
The amount of ink spilled on this topic could fill a supertanker. Goldbugs the world over believe in the suppression story as an article of faith, and indeed, the evidence that “something is happening” appears incontrovertible.
Given how important the subject is to Peak Prosperity and the bullion-owning community, and the volume of energy we expend talking (and talking, and talking, and talking) about it, how much information do we really have about what is actually going on? Has anyone quantified suppression? Do we know how, when, and how frequently it occurs? Once a month? Once a day? What does it even look like? For many of us it might be like that old Supreme Court Justice’s definition of obscenity: I can’t define it, but I know it when I see it.
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