Why won’t the American people listen to the warnings? David Stockman was a member of the U.S. House of Representatives from 1977 to 1981, and he served as the Director of the Office of Management and Budget under President Ronald Reagan from 1981 to 1985. These days, he is running a website called “Contra Corner” which I highly recommend that you check out. Stockman believes that a global “debt super-cycle” that has been building for decades is now bursting, and he is convinced that the consequences for the U.S. and for the rest of the planet will be absolutely catastrophic. His findings are very consistent with what I have been writing about on The Economic Collapse Blog, and if Stockman is correct the times ahead of us are going to be exceedingly painful.
Read More…
How One Retailer Is Preparing For The Apocalypse
Zero Hedge first revealed the contingency plans that libertarian online retailer Overstock has implemented "in preparation for the next collapse" ten days ago. Today, the strategy outlined by Overstock Chairman Jonathan Johnson has resonated across the Atlantic and this morning as the Financial Times catches up to the story of an "online retailer hoarding gold as crisis defense" in which it calls the retailer a "redoubt of doomsday conservatism" adding its policy to prepare for the loss of central-planning control is "redolent of the small band of US survivalists preparing for the end of civilization."
2.1 Million Greeks Face Blackout As Public Power Company Unpaid Bills Soars
from Wolf Street:
The US Gross National Debt, that monster that keeps ballooning so much faster than our infamously slo-mo economy, just jumped by $340 billion in one day.
The debt ceiling was hit in March, and from that point forward, the Gross National Debt was stuck at about $18.15 trillion, give or take a couple of billion. But the government continued spending the money that Congress had told it to spend, though Congress also told the government not to issue more debt to pay for this spending. If this sort of debt-ceiling fight looks like a Congressional charade to the world outside the Beltway, it’s because it is a charade.
Read More
The US Gross National Debt, that monster that keeps ballooning so much faster than our infamously slo-mo economy, just jumped by $340 billion in one day.
The debt ceiling was hit in March, and from that point forward, the Gross National Debt was stuck at about $18.15 trillion, give or take a couple of billion. But the government continued spending the money that Congress had told it to spend, though Congress also told the government not to issue more debt to pay for this spending. If this sort of debt-ceiling fight looks like a Congressional charade to the world outside the Beltway, it’s because it is a charade.
Read More
By select...they mean everybody get one...but remember only one each...Absolutely NO seconds allowed...your on the honor system...
CIA, Saudis To Give "Select" Syrian Militants Weapons Capable Of Downing Commercial Airliners
A "Zero Tolerance" Police State
We’ve almost become numb to horrendous videos like these.. It seems like a new shocking police abuse video sweeps the nation almost every week. These viral videos help bring a small dose of accountability to government employees. And they don’t like it one bit. It’s all part of a long trend. The government will always try to shield itself from the fallout from its behavior. Another favorite tactic is to simply declare troublesome information “classified” or to withhold it because of “national security,” a vague and misused term. It’s an upside down situation. The government can monitor almost any aspect of the average citizen’s life whenever it wants. But it’s difficult to impossible for the average citizen to monitor the government. In a free society, the opposite would be true.
What Rate Hike: US Economic Output Worst Since Q1 2014 With Jobs Now Rolling Over
"Real Output" is perhaps an even more accurate indication of the true state of the US domestic economy considering all the complaints by the Fed over the state of the global economy and eliminate the "noise" from trade which has been depressing GDP for quarters. Unfortunately, what the real output data reveals is not pretty. Rising by 2.3% Y/Y in Q3, this was not only down substantially from 3.4% in Q3 and 3.5% in Q1, but this was the weakest increase since Q1 2014! And then there are jobs...
Unit Labor Costs Miss For 3rd Quarter In A Row (For The First Time In 12 Years)
A modest 1.4% rise in unit labor costs in Q3 was dramatically below the expected (and hope-strewn) 2.5% growth and means unit labor costs have missed expectations for the 3rd quarter in a row for the first time since 2003. Perhaps just as bad, historical (weak) data was revised notably lower but of course, as Yellen and Fisher have made clear - none of this matters for the data-un-dependent Fed's December decision.
Initial Jobless Claims Jump Most In 8 Months As Energy Sector Layoffs Spike Back To 6-Month Highs
Just when you thought (for the 10th time this year) that the worst was over in the US energy space, Challenger Grey reports a massive spike in Energy sector layoffs - to six-month highs. For context, energy sector layoffs are 9 times higher in 2015 than 2014 and Texas - with 103,422 layoffs - is the worst state for job cuts (despite Dallas Fed Fisher's previous insistence that the state is 'diversified'). Despite the ongoing side in initial jobless claims, employers have announced 543,935 job cuts in 2015 so far, 31% higher than 2014.
Don't Be Fooled By The Level Of The Stock Market
Other asset-classes are screaming that deflationary headwinds are very much still in play...
S&P Futures Spike Back Over 2100 On Central Banks, Yen Carry Levitation, China Bull Market
Submitted by Tyler Durden on 11/05/2015 - 06:57 For those eager to cut to the chase and curious if overnight we have had another standard USDJPY ramp levitating US equity futures on low volume, the answer is yes. And since the USDJPY carry was patient enough, it managed to trigger the 2100 ES stops and as of this moment the futures were comfortably on the politically-correct side of 2100.
Muslim Man Warns Germans: "We Will Marry Your Daughters And Conquer You With Births"
Submitted by Tyler Durden on 11/04/2015 - 22:30 A week ago, we showed a video of what we hoped was not representative of the general sentiment among Germans towards the refugee crisis as two ladies suggested, "Every year 2-3 million arrive...it’s generally about foreign infiltration." Now we have the other side as the following video shows a muslim man threatening a German that "his daughter will wear a headscarf and marry a Muslim and that Germans stand no chance with their low birth rate," adding that muslims will will "conquer Europe not with weapons, but with birth rates."
The Tools Collectivists Use To Gain Power
Submitted by Tyler Durden on 11/04/2015 - 22:30 Collectivism requires the homogenization of society, to the point that individualism is frowned upon and success is treated as negligible. The nightmare of collectivism is the defining battle of our age. It is in this era that we will decide whether or not individual liberty and freedom of thought are more important than the illusory security and “harmony” of the collective. Collectivism and individualism cannot coexist; confrontation is inevitable. Recognizing this, and preparing for it, is our duty as free human beings.
US Officials: ISIS "Likely" Had Bomb On Russian Plane
Russia set to retaliate "heavily and militarily"...Visualizing Where The Money's Made In America
Mission Accomplished? Chinese Stocks Re-Enter "Bull Market" - Up 24% From August Lows
Submitted by Tyler Durden on 11/04/2015 - 21:24 For the 3rd time since the crash in June, Chinese stocks have staged a magnificent recovery. Amid the selling bans, arrests, deaths, manipulation, massive direct government buying, and general happy-talk propoganda, Chinese stocks are now up 24% from the August lows... Of course, we are sure every one of the grandmas and farmers - fully levered - clung on through the dips.. and are now still 32% down from the June highs...
Forget about the 1%. The men and women who are featured on Forbes’ annual ranking of the World’s Most Powerful People are the 0.00000001% –the global elite whose actions move the planet. These heads of state, financiers, philanthropists and entrepreneurs truly run the world.
To compile the list, we considered hundreds of candidates from various walks of life all around the globe, and measured their power along four dimensions. First, we asked whether the candidate has power over lots of people. Pope Francis, ranked #4 on our list, is the spiritual leader of more than a billion Catholics. Doug McMillon (#32), CEO of Wal-Mart Stores WMT +0.00%, employs 2.2 million workers.
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Gold Drainage Ratchets Up
from The Wealth Watchman:
This week we take a gander at how time is running out for the banksters’ price rigging scheme, despite what the price action is saying. We discuss:
The moment that the bankers’ rules & stratagem for gold suppression all changed…
The reason the banks won’t allow gold or silver’s prices to escape right now…
The brand-spanking, new record amount of leverage placed upon gold in the Comex vaults…
Read More…
from The Wealth Watchman:
This week we take a gander at how time is running out for the banksters’ price rigging scheme, despite what the price action is saying. We discuss:
The moment that the bankers’ rules & stratagem for gold suppression all changed…
The reason the banks won’t allow gold or silver’s prices to escape right now…
The brand-spanking, new record amount of leverage placed upon gold in the Comex vaults…
Read More…
from Ben Swann:
by Ethan A. Huff, Natural News:
The immense influence that corporations and special interests hold over
government policy-making was on full display recently after billionaire
oil tycoon Harold Hamm, CEO of Continental Resources, arrogantly
demanded that certain researchers from the University of Oklahoma (UO)
be fired simply because he doesn’t like the truths they’re uncovering
about natural gas hydraulic fracturing, or “fracking.”
The researchers Hamm wants to see axed didn’t engage in any misconduct or wrongdoing that would justify their dismissal; they merely conducted research showing that natural gas fracking is contributing to the recent rise in earthquakes in Oklahoma and other typically seismically inactive areas. Revealing this truth threatens Hamm’s ill-gotten fortune, thus his pathetic hissy fit petitioning for their removal from the university.
An email obtained by Bloomberg reveals that the overweight Hamm, who is a major donor to UO, believes himself to be a “very approachable” person who’s not “intimidating.” “I don’t try to push anybody around,” he stated, obviously oblivious to his own gushing self-importance in demanding that credible scientists be fired simply for conducing, well, credible science.
Read More
The immense influence that corporations and special interests hold over
government policy-making was on full display recently after billionaire
oil tycoon Harold Hamm, CEO of Continental Resources, arrogantly
demanded that certain researchers from the University of Oklahoma (UO)
be fired simply because he doesn’t like the truths they’re uncovering
about natural gas hydraulic fracturing, or “fracking.”The researchers Hamm wants to see axed didn’t engage in any misconduct or wrongdoing that would justify their dismissal; they merely conducted research showing that natural gas fracking is contributing to the recent rise in earthquakes in Oklahoma and other typically seismically inactive areas. Revealing this truth threatens Hamm’s ill-gotten fortune, thus his pathetic hissy fit petitioning for their removal from the university.
An email obtained by Bloomberg reveals that the overweight Hamm, who is a major donor to UO, believes himself to be a “very approachable” person who’s not “intimidating.” “I don’t try to push anybody around,” he stated, obviously oblivious to his own gushing self-importance in demanding that credible scientists be fired simply for conducing, well, credible science.
Read More
from Peter Schiff:
by Kit Daniels, Infowars:
Gloria Steinem claimed the current backlash against Planned Parenthood
is an attempt to restore a “long-term racist system,” despite the estimated 16 million African-Americans that have been aborted since 1973.
“[The attack] is part of an ultra right-wing attempt to restore the basis of patriarchy or a male-dominant system and the necessity of a long-term racist system which is controlling reproduction,” the CIA-connected feminist activist told PBS’ Tavis Smiley on Tuesday. “And to control reproduction, you have to control the bodies of women.”
That’s quite a few buzzwords Steinem used there while ignoring the fact that a lot of the organization’s critics are not “ultra right-wing” but simply have a problem with harvesting aborted baby organs for profit.
And considering that abortion kills 19 times as many African-Americans as murder, how can she possibly suggest that attacking Planned Parenthood is racist? What kind of inverted reality is she living in?
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Gloria Steinem claimed the current backlash against Planned Parenthood
is an attempt to restore a “long-term racist system,” despite the estimated 16 million African-Americans that have been aborted since 1973.“[The attack] is part of an ultra right-wing attempt to restore the basis of patriarchy or a male-dominant system and the necessity of a long-term racist system which is controlling reproduction,” the CIA-connected feminist activist told PBS’ Tavis Smiley on Tuesday. “And to control reproduction, you have to control the bodies of women.”
That’s quite a few buzzwords Steinem used there while ignoring the fact that a lot of the organization’s critics are not “ultra right-wing” but simply have a problem with harvesting aborted baby organs for profit.
And considering that abortion kills 19 times as many African-Americans as murder, how can she possibly suggest that attacking Planned Parenthood is racist? What kind of inverted reality is she living in?
Read More…
by Michael W. Chapman, CNSnews:
As for President Barack Obama’s claim that his presidency has helped
“mobilize America on behalf of issues of racial disparity,” Milwaukee
County Sheriff David A. Clarke Jr. said the opposite is true and Obama
is “hallucinating if he thinks he has improved race relations in
Ameirca.”
On Hannity on Tuesday, part of the discussion focused on race relations in America under Obama. The host, Sean Hannity, and guests Sheriff Clarke and Geraldo Rivera agreed that race relations had become worse under the current administration.
Read More
As for President Barack Obama’s claim that his presidency has helped
“mobilize America on behalf of issues of racial disparity,” Milwaukee
County Sheriff David A. Clarke Jr. said the opposite is true and Obama
is “hallucinating if he thinks he has improved race relations in
Ameirca.”On Hannity on Tuesday, part of the discussion focused on race relations in America under Obama. The host, Sean Hannity, and guests Sheriff Clarke and Geraldo Rivera agreed that race relations had become worse under the current administration.
Read More
by Claire Bernish, Activist Post:
The Land of the Free —
America has just been stripped of its favorite longstanding
self-designation — the official title of ‘Land of the Free’ now belongs
to its neighbor to the north, Canada.
In fact, the Legatum Institute’s 2015 Prosperity Index found Canadians experience the greatest personal freedom and general social tolerance of all 142 nations in the report — while the U.S. trailed behind in ninth place. But that’s only part of the story.
Regarding the feeling of safety and security, America fell two spots from last year’s embarrassing rank to 33rd on the list — landing literally just ahead of the United Arab Emirates and Kuwait.
Read More
The Land of the Free —
America has just been stripped of its favorite longstanding
self-designation — the official title of ‘Land of the Free’ now belongs
to its neighbor to the north, Canada.In fact, the Legatum Institute’s 2015 Prosperity Index found Canadians experience the greatest personal freedom and general social tolerance of all 142 nations in the report — while the U.S. trailed behind in ninth place. But that’s only part of the story.
Regarding the feeling of safety and security, America fell two spots from last year’s embarrassing rank to 33rd on the list — landing literally just ahead of the United Arab Emirates and Kuwait.
Read More
filed under (unt
The real interesting part of the latest Quinnipiac University National
Poll, is not the fact that 60% of Americans think Hillary Clinton is
dishonest, but that 40% of Americans don’t.You’d truly have to be a certified zombie, or living your life entirely under a rock, to not recognize how completely shady and corrupt this woman is. Fear not, I’ll provide a plethora of links at the end of this post, but here’s a recent example that went completely under the radar.
In a desperate attempt to appear populist, Clinton tweeted the following last week:
Read More
by Pam Martens, Wall Street on Parade:
The New York Times has just completed a three-part investigative series
on the evisceration across America of the U.S. Constitution’s guarantee
of a right to a jury trial under the Seventh Amendment, which mandates:
“In suits at common law, where the value in controversy shall exceed
twenty dollars, the right of trial by jury shall be preserved, and no
fact tried by a jury, shall be otherwise reexamined in any court of the
United States, than according to the rules of the common law.”
Just as corporate prisons and corporate charter schools are proliferating across the American landscape with attendant horror stories, the doors to the Nation’s taxpayer funded courts have been largely closed to the average citizen. Consumers of everything from credit cards to phone service to nursing homes cannot obtain the product or service without surrendering their access to the U.S. court system through fine print buried in the corporate contract. The privatized system is referred to as pre-dispute arbitration or mandatory arbitration or forced arbitration. Many corporations impose it as a condition of employment as well.
Read More…
The New York Times has just completed a three-part investigative series
on the evisceration across America of the U.S. Constitution’s guarantee
of a right to a jury trial under the Seventh Amendment, which mandates:
“In suits at common law, where the value in controversy shall exceed
twenty dollars, the right of trial by jury shall be preserved, and no
fact tried by a jury, shall be otherwise reexamined in any court of the
United States, than according to the rules of the common law.”Just as corporate prisons and corporate charter schools are proliferating across the American landscape with attendant horror stories, the doors to the Nation’s taxpayer funded courts have been largely closed to the average citizen. Consumers of everything from credit cards to phone service to nursing homes cannot obtain the product or service without surrendering their access to the U.S. court system through fine print buried in the corporate contract. The privatized system is referred to as pre-dispute arbitration or mandatory arbitration or forced arbitration. Many corporations impose it as a condition of employment as well.
Read More…
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