Krugman Doesn't Understand Why "Darkness Is Spreading Over Part Of Our Society"
"...middle-aged whites have lost the narrative of their lives. ... while universal health care, higher minimum wages, aid to education, and so on would do a lot to help Americans in trouble, I’m not sure whether they’re enough to cure existential despair."
The re-enserfment of Western peoples is taking place on several levels. One about which I have been writing for more than a decade comes from the offshoring of jobs. Americans, for example, have a shrinking participation in the production of the goods and services that are marketed to them.
On another level we are experiencing the financialization of the Western economy about which Michael Hudson is the leading expert (Killing The Host). Financialization is the process of removing any public presence in the economy and converting the economic surplus into interest payments to the financial sector.
These two developments deprive people of economic prospects. A third development deprives them of political rights. The Trans-Pacific and Trans-Atlantic Partnerships eliminate political sovereignty and turn governance over to global corporations.
Read More
Canadian Dick Pound says... Ban Russian Track And Field Athletes From 2016 Olympics...
An "independent" commission of the World Anti-Doping Agency has found that Russia engaged in state-sponsored doping and more importantly, recommended that Russia’s track and field athletes be suspended from Olympic competition in 2016. The "Independent" commission was led by Canadian Dick Pound. Joining him on the commission was Richard McLaren, another Canadian lawyer and a long-standing member of the Court of Arbitration for Sport, as well as Günter Younger, head of department of cybercrime with Bavarian Landeskriminalamt. So two Canadians and a German made up an "independent" commission that now wants to bar Russia from the marquee event of the upcoming olympics.
US Equity Plunge Erases November Gains
It appears that hawkishness and rate-hikes are once again not-so-bullish for stocks... either that or the algos read the details of the jobs report and realized just how ugly it all is under the surface...
Automation Doesn't Just Destroy Jobs - It Destroys Profits, Too
Automation is upending the global order by eliminating human labor on an unprecedented scale - and the status quo has no reality-based solution to this wholesale loss of jobs. The idea that taxing the owners of robots and software will fund guaranteed incomes for all is not anchored in reality.
A Fifth Of Spain's GDP Just Voted To Secede - What Now?
Rajoy's warning: “Catalonia isn’t separating from anywhere."
Paul Craig Roberts Rages At "Another Phony Jobs Number"
If the US economy were actually in economic recovery, would half of the 25-year-old population be living with parents? The real job situation is so poor that young people are unable to form households.
"Grieving" Mother Of Murdered 9-Year-Old Spends Online Donations On New Car
Having very recently pointed out the growing epidemic of "online begging," seeing a mother use an online donation platform to raise funds to "lay her son to rest" seems like a laudible and donation-worthy cause. However, as ABC7 reports, the 'grieving' mother of murdered Chicago 9-year-old Tysham Lee used the funds to purchase a 2015 Chrysler 200 and after facing a torrent of abuse attempted to defend her seemingly callous act - "Y'all don't know nothing about me."
WTI Crude Crushed To $43 Handle "Flash-Crash" Lows After Genscape Data
Oil was already weak this morning but the release of Genscape estimates of yet another siazable inventory build (1.8 million barrels) appears to have kicked the down-leg a notch lower. The overnight flash-crash lows are now in sight at WTI Crude trades with a $43 handle once again (and Dow Transports converge lower).
Dow Plunges Into Red Year-To-Date - Friday's Miracle Post-Payrolls Bounce Has Been Erased
But rate-hikes are bullish, right?IBM Tumbles To New 5 Year Lows After Buffett Admits Huge Loss
We're gonna need a bigger buyback... As if "old tech" IBM was not in enough trouble, the worrying admission from Buffett's Berkshire Hathaway's earnings of around $2 billion (though careful to note he is not about to sell) has seemingly prompted further weakness. IBM is down almost 2% to fresh May 2010 lows...
Bond Blood-Bath Continues - 5Y Yield Nears Key Technical Resistance
The carnage in Treasuries continues as this morning's chatter from 'sources' about moar NIRP in Europe has seemingly sparked a sudden exodus from US bonds (even with stocks lower). Across the curve yields are up 4-5bps very suddenly - all testing (if not already broken) 2015 highs. Perhaps most critically for now is the 5Y yield which is surging towards 1.80% - a crucial level of resistance over the past few years.Is The Political Climate Shifting Against The Oil And Gas Industry?
Based on last week’s developments, which included the launch of an investigation into the world’s largest oil company and the rejection of the most politicized energy project to date, the “above ground” problems for the energy industry are growing much worse. That could complicate the future fortunes of oil and gas companies.
Crude Crashes, Silver Slammed After Dollar Surge On More ECB Jawboning
Commodity pices are crumbling this morning as more jawboning of a "big cut" from The ECB has sparked further EUR weakness and thus USD strength (EURUSD 1.0740). WTI's morning bounce (after flash-crashing at the Asia open) has been erased and new lows are looming. Silver is back at a $14 handle and Gold is holding below $1100.
John Paulson Slammed (Again) After Citron Goes After Mallinckrodt Next, Stock Plummets
It has not been a good year for former Bear trader "right person at the right time" with his subprime short, John Paulson who after getting slammed on Valeant, if not quite as badly as Ackman, moments ago saw a quarter of his investment in Mallinckrodt - where he is a top3 holder - wiped out, when Citron tweeted that "MNK has significantly more downside than Valeant" and is a far worse offender of the reimbursement system.
Dow Transports Jump On Canadian Pacific-Norfolk Southern Merger 'News'
Having dramatically converged to the tumbling price of WTI Crude, Trannies are jumping dramatically after Bloomberg runs the following flashing-red headline: *CANADIAN PACIFIC SAID TO EXPLORE TAKEOVER OF NORFOLK SOUTHERN. Amid crashing railcar loadings (down over 23% YoY - worst since the financial crisis), this 'syngery' may make some sense but will likely only mean moar layoffs as "two wrongs do not make a right."
The Recessionary Signals Of A 5% Unemployment Rate
"Historically, the statistical or mathematical properties of the financial markets have shifted as the economic recovery nears full employment (i.e., at about the 5% unemployment rate the contemporary recovery has reached). Traditionally, at this point in the recovery, the stock market suffers more frequent declines, bond yields rise more often, average annualized returns from both asset classes are lower, diversification benefits tend to diminish, and recession risk is enhanced."
Third Freight Train Derails (Second Owned By Buffett) Days After Obama Kills Keystone Pipeline
Submitted by Tyler Durden on 11/09/2015 - 13:42 Moments ago in what we initially thought was a joke, abc9 reported that close to two dozen train cars derailed after a crash Monday morning. Lt. Brett Grimshaw of the Des Moines County Sheriff’s Office said the crash happened a little after 8 a.m. when a coal train hit a road grader that had been backed up onto the tracks. And before you ask, yes, this train, too, belongs to BNSF, which in turn belongs to Warren Buffett,
What Rising Wages: Fed Itself Just Admitted "Household Income Expectations Are Falling Sharply"
Having noted the plunge in consumer spending expectations to record lows last month, The Fed faces an even bigger problem this month. Despite the apparent wage growth in Friday's magical BLS data, The New York Fed admits "public expectations of future income took a big hit," as the index suffered its biggest one-month decline on record. But the news gets even worse, as 3-year-ahead inflation expectations plunged to record lows (confirming the record low inflation expectations from UMich's) and entirely discounting Stan Fischer's inflation excuses last week. Fianlly, as stocks have stagnated this year as wealth creator for The Fed, consumer expectations of housing price gains have tumbled to series lows. It appears a desperate-to-hike-rates fed is cornered by, as UMIch previously noted, "a disinflationary mindset is taking hold."Why Are Stocks Tumbling? The Mainstream Media Explains
US To Send "Thousands" Of Troops, Attack Helicopters, Artillery, To Europe To "Deter Russia"
“Nobody wants to go back to the days of the Cold War ... but the concept of contingency forces … that is exactly what we should be doing.”
by Dave Hodges, The Common Sense Show:
The events in California are bizarre, very bizarre. We are seeing wide swaths of airspace being closed to the public. We are also seeing the launch of a Trident missile without an adequate explanation being given to the public. As I dug deeper into these events, I am left wondering, was this missile launch about World War III preparations, or the coming civil war?
Strange Event #1
KABC Los Angeles is reporting that the military is currently performing highly secretive exercises over the Pacific Ocean. All airspace over the Pacific has been closed to incoming flights, forcing Los Angeles international airport to re-route landings late at night. Why at night? What are they hiding? What are they bringing in? And I have come to believe that the Stramge Event #1 has no direct relationship to Strange Event #2.
Read More
The events in California are bizarre, very bizarre. We are seeing wide swaths of airspace being closed to the public. We are also seeing the launch of a Trident missile without an adequate explanation being given to the public. As I dug deeper into these events, I am left wondering, was this missile launch about World War III preparations, or the coming civil war?
Strange Event #1
KABC Los Angeles is reporting that the military is currently performing highly secretive exercises over the Pacific Ocean. All airspace over the Pacific has been closed to incoming flights, forcing Los Angeles international airport to re-route landings late at night. Why at night? What are they hiding? What are they bringing in? And I have come to believe that the Stramge Event #1 has no direct relationship to Strange Event #2.
Read More
from The Daily Coin:
When I wrote Never, Ever Use the Word Inflation, it was very clear the mainstream media had their marching orders on how to placate the public regarding the astronomical price increases on everything from food, to healthcare to housing. Blame it on anything but inflation. You are allowed to attack a companies manufacturing process, by shrinking the size of the container/products, just don’t call it inflation.
This morning I ran across another fine example of CIA Operation Mockingbird nonsense. Bloomberg produced a piece about food costs “surging”.
Read More
When I wrote Never, Ever Use the Word Inflation, it was very clear the mainstream media had their marching orders on how to placate the public regarding the astronomical price increases on everything from food, to healthcare to housing. Blame it on anything but inflation. You are allowed to attack a companies manufacturing process, by shrinking the size of the container/products, just don’t call it inflation.
This morning I ran across another fine example of CIA Operation Mockingbird nonsense. Bloomberg produced a piece about food costs “surging”.
Read More
from, The News Doctors:
The CIA was vastly different back then from the agency that emerged in the days after the 9/11 attacks. And it was a far cry from the flawed and confused organization it is today.
One reason for those flaws — and for the convulsions the agency has experienced over the past decade and a half — is its utter lack of ethics in intelligence operations.
It’s no secret that the CIA has gone through periods where violating U.S. law and basic ethics were standard operating procedure. During the Cold War, the agency assassinated foreign leaders,toppled governments, spied on American citizens, and conducted operations with no legal authority to do so. That’s an historical fact.
Read More
The CIA was vastly different back then from the agency that emerged in the days after the 9/11 attacks. And it was a far cry from the flawed and confused organization it is today.
One reason for those flaws — and for the convulsions the agency has experienced over the past decade and a half — is its utter lack of ethics in intelligence operations.
It’s no secret that the CIA has gone through periods where violating U.S. law and basic ethics were standard operating procedure. During the Cold War, the agency assassinated foreign leaders,toppled governments, spied on American citizens, and conducted operations with no legal authority to do so. That’s an historical fact.
Read More
from The Sleuth Journal:
The most dramatic contrast in the rule of law against the architects of financial theft can be seen in the way America protects their banksters and the accountability that Iceland imposed on their financial crooks. The fact that the orthodox financial press refuses to cover the incarceration of Iceland’s Bankers Face 74 Years in Prison While US Banks Profit After Your Bailout, is clear proof who really controls the political and economic institutions in the United States. As for the courts, America has long ago shredded the rule of law in this country.
“Five top bankers from Iceland’s two largest banks — Landsbankinn and Kaupþing — were found guilty of embezzlement, market manipulation, and breach of fiduciary duties. Though the country’s maximum penalty for financial crimes currently stands at six years, the Supreme Court is currently hearing arguments to extend the limit. Most of those convicted have so far been sentenced to between two and five years.”
Read More
The most dramatic contrast in the rule of law against the architects of financial theft can be seen in the way America protects their banksters and the accountability that Iceland imposed on their financial crooks. The fact that the orthodox financial press refuses to cover the incarceration of Iceland’s Bankers Face 74 Years in Prison While US Banks Profit After Your Bailout, is clear proof who really controls the political and economic institutions in the United States. As for the courts, America has long ago shredded the rule of law in this country.
“Five top bankers from Iceland’s two largest banks — Landsbankinn and Kaupþing — were found guilty of embezzlement, market manipulation, and breach of fiduciary duties. Though the country’s maximum penalty for financial crimes currently stands at six years, the Supreme Court is currently hearing arguments to extend the limit. Most of those convicted have so far been sentenced to between two and five years.”
Read More
from Washington’s Blog:
13-minute interview of Dr. Udo Ulfkatte, German journalist, editor, and whistleblower on CIA contracts to foreign journalists to lie/propagandize to sell US/UK/Israel wars:
The US Senate just reported our tax money is being diverted to professional sports teams in contracts to sell US wars to sports fans. The .01% Pentagon “leadership” did not cooperate with the Senate to disclose the “nature and extent” of these contracts.
.01% corporate media is again exposed for hiring weapons manufacturers’ employees to sell unlawful war on Syria to television viewers: 22 different men claimed as “experts” without disclosing they work for businesses that sell the very weapons that would be used on Syria.
Read More
13-minute interview of Dr. Udo Ulfkatte, German journalist, editor, and whistleblower on CIA contracts to foreign journalists to lie/propagandize to sell US/UK/Israel wars:
The US Senate just reported our tax money is being diverted to professional sports teams in contracts to sell US wars to sports fans. The .01% Pentagon “leadership” did not cooperate with the Senate to disclose the “nature and extent” of these contracts.
.01% corporate media is again exposed for hiring weapons manufacturers’ employees to sell unlawful war on Syria to television viewers: 22 different men claimed as “experts” without disclosing they work for businesses that sell the very weapons that would be used on Syria.
Read More
from Western Journalism:
Kentucky Gov.-elect Matt Bevin made a promise when he campaigned for office that when the Environmental Protection Agency bureaucrats came calling to interfere with Kentucky’s coal economy, he’d tell them to keep on going or face a fight.
Winning election Tuesday has not changed his plans one bit. On Friday, Bevin appeared on The Glenn Beck Radio Program.
“President Obama has said that he’s going to destroy the coal industry,” Beck said. “Kentucky is a coal state. What are you going to be doing, specifically, to push back on that?”
Read More
Kentucky Gov.-elect Matt Bevin made a promise when he campaigned for office that when the Environmental Protection Agency bureaucrats came calling to interfere with Kentucky’s coal economy, he’d tell them to keep on going or face a fight.
Winning election Tuesday has not changed his plans one bit. On Friday, Bevin appeared on The Glenn Beck Radio Program.
“President Obama has said that he’s going to destroy the coal industry,” Beck said. “Kentucky is a coal state. What are you going to be doing, specifically, to push back on that?”
Read More
from Gold Core:
China’s central bank likely added another 14 tonnes of gold to its reserves in October as the People’s Bank of China (PBOC) continues to allocate to gold bullion as part of a plan to diversify its massive $3.53 trillion in foreign-exchange reserves and position the yuan as a global trading and reserve currency.
Gold prices rose 2.5 % in October but fell nearly 5% last week on continuing speculation of a possible Fed interest rate rise. Despite much poor U.S. economic data in recent weeks, the positive jobs number on Friday saw safe haven gold fall.
Read More
China’s central bank likely added another 14 tonnes of gold to its reserves in October as the People’s Bank of China (PBOC) continues to allocate to gold bullion as part of a plan to diversify its massive $3.53 trillion in foreign-exchange reserves and position the yuan as a global trading and reserve currency.
Gold prices rose 2.5 % in October but fell nearly 5% last week on continuing speculation of a possible Fed interest rate rise. Despite much poor U.S. economic data in recent weeks, the positive jobs number on Friday saw safe haven gold fall.
Read More
by Michael Snyder, The Economic Collapse Blog:
Have you noticed that seismic activity along the Ring of Fire appears to be dramatically increasing? According to Volcano Discovery, 39 volcanoes around the world have recently erupted, and 32 of them are associated with the Ring of Fire. This includes Mt. Popocatepetl which sits only about 50 miles away from Mexico City’s 18 million inhabitants. If you are not familiar with the Ring of Fire, it is an area roughly shaped like a horseshoe that runs along the outer perimeter of the Pacific Ocean. Approximately 90 percent of all earthquakes and approximately 75 percent of all volcanic eruptions occur along the Ring of Fire. Just within the last 24 hours, we have witnessed a 4.4, a 5.4 and a 5.7 earthquake in Alaska, a 6.8 earthquake in Chile and 20 earthquakes in Indonesia of at least magnitude 4.3. And as you will see below, this violent shaking along the Ring of Fire seems to continue a progression of major disasters that began back during the month of September.
Read More…
Have you noticed that seismic activity along the Ring of Fire appears to be dramatically increasing? According to Volcano Discovery, 39 volcanoes around the world have recently erupted, and 32 of them are associated with the Ring of Fire. This includes Mt. Popocatepetl which sits only about 50 miles away from Mexico City’s 18 million inhabitants. If you are not familiar with the Ring of Fire, it is an area roughly shaped like a horseshoe that runs along the outer perimeter of the Pacific Ocean. Approximately 90 percent of all earthquakes and approximately 75 percent of all volcanic eruptions occur along the Ring of Fire. Just within the last 24 hours, we have witnessed a 4.4, a 5.4 and a 5.7 earthquake in Alaska, a 6.8 earthquake in Chile and 20 earthquakes in Indonesia of at least magnitude 4.3. And as you will see below, this violent shaking along the Ring of Fire seems to continue a progression of major disasters that began back during the month of September.
Read More…
/
![[Most Recent Quotes from www.kitco.com]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sNton7Q26UxXfjke8q74BgeKDhquqZLD_Luii5RvuHfR6trM9bysi5llnwYIKLHTiKVaQhNdeN-tq513HShSPu_RoSiPPZige_WCybgqrOo84bm0n5LUlXs7PjFQYHCz7fKA=s0-d)
![[Most Recent Quotes from www.kitco.com]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sG46VWcotQlU36Kyh-kPFZiexvAisnZXhcdZJdDV7JgNqugRMHQ2lK1pMsuKdbK1pQhkPeDix9eNf-XJ38oIMAwSOqDWQklOXyTy5RmvyH1HureflK0u71PCzczaRall6E8qbr=s0-d)
No comments:
Post a Comment