FRiDaY BioLoGY: KeYNeSiAN MoNKeY BuSiNeSS...

williambanzai7's picture

 

CORRUPTOBERNANPITHICUS POMOMIENSUS 2.0
.

 

 

Alert Zero Hedge readers will recall that about this time last year a new species of monkey was discovered: CORRUPTOBERNANPITHICUS POMOMIENSUS.

Known by locals in remote parts of Keynesia as kleptula, the monkey apparently drinks ink, eats savings accounts and shits greenbacks.The species had been discovered just as it was being

threatened with being hunted and eaten into extinction by hungry banksters.

This week, scientists announced a startling new new discovery, a new heretofraud undiscovered species of Keynesian kleptovore...

 

 

Oyellinquito (Newly Discovered Keynesian Carnivore)
.

 

 

Although Oyellinquito is a member of the PhD racoon lodge, scientists believe Oyellinquito has similar eating, drinking and shitting habits as the Kleptula.

But even more startling, scientists now believe that Oyellinquito may be a kind of missing fiat link to an even bigger and better known creature.

One that has the same eating, drinking and shitting habits as the other two, only much much much much much much bigger....

 

 

 

 

 

 

BaRRaCK THe RoDeO CLoWN... Posted by : williambanzai7 Post date: 08/12/2013 - That's right, we said Rodeo Clown!!!




OBOZO IN A BARREL
.

Obozo's a rodeo clown

He sports an insidious frown

His arrogant charm

Protects him from harm

While his lies bring a whole nation down

The Limerick King

 

 

 

 

 

Biting Our Tongues Doesn’t Keep Us Safe … It Only INCREASES Danger In the Long Run Posted by : George Washington Post date: 08/19/2013 - First They Came …

 

Move Over Obama Posted by: Pivotfarm Post date: 08/19/2013 - The daily presidential-tracking poll shows that on Sunday August 18th 51% of US citizens disapprove of what President Obama is doing in the country.

 

 

FRaNKeNDoDD CaBaReT... Posted by: williambanzai7 Post date: 08/19/2013 - Life is is a f*cking cabaret my friends...

 

FRaNKeNDoDD CaBaReT...

williambanzai7's picture




FRANKENDODD CABARET

 

 

Tritium Measurement In Fukushima Bay Highest Ever As TEPCO Admits 40 Trillion Becquerels Have Spilled Into Pacific

Over the weekend we posted an in-depth narrative of what may happen in a theoretical worst case scenario in Fukushima, one in which the government continues to do nothing and pretends all is well, and where the end casualties are millions of innocent Japanese (and other) citizens, whose only crime is believing their government. Sadly, with every passing day the theoretical is becoming all too real, and moments ago reality struck again, when the Nikkei newspaper reported that readings of tritium in seawater taken from the bay near the crippled Fukushima nuclear plant has shown 4700 becquerels per liter. This was the highest tritium level in the measurement history. It gets better: Earlier, Tepco admitted that an estimated 20 to 40 trillion becquerels of tritium may have flowed into the Pacific Ocean since the nuclear disaster.

 

 

DOJ Picks Up Where FERC Left Off: Begins Investigation Of JPMorgan's "Enronesque" Energy Market Manipulation

On July 30, when FERC announced that it had agreed to resolve it allegations of JPMorgan manipulation of the energy market for a $410 million fine, with the bank neither admitting nor denying guilt, we posited that the only question on Jamie Dimon's mind was whether to pay the fine from petty cash or just to charge it on his corporate Amex. Three weeks later he may have some other questions swirling in his head, such as "whose Christmas lobbying stocking did I not fill with campaign donations?" after the WSJ reported that it is no longer FERC, but the DOJ itself, led by Preet Bharara, which is investigating whether JPM manipulated energy markets. Ironically, this is a deja vu of the SAC take down by the same Bharara, when a few months after SAC settled with the SEC it was shocked to be crushed by the Department of Justice which pulled an "Arthur Anderson" on it and for all intents and purposes shut it down (although with nobody sent to prison). It remains to be seen if Bharara will have the balls to take this prosecution to the next level and whether after he made SAC into Arthur Anderson, he will make JPMorgan into the New Normal's Enron and whether Jamie Dimon or Blythe Masters will be the next Lay and/or Skilling. One can hope.

 

 

Europe's Next Crisis? Migrant Flows Are Surging

With Greek haircuts likely (or Cyprus-style bail-ins), Merkel elections (and the potential for less positive coalitions and post-election 'sternness'), and the possibility for the German court to curtail plans for OMT; there is plenty to  remove the 'magic' that is supporting Europe's market 'recovery'. However one topic not often discussed is the ongoing surge in people seeking refuge in EU countries from North Africa and the Middle East. Countries such as Greece or Italy that make up the European Union's southern border have long struggled to deal with flows of refugees from across the Mediterranean. The issue, as Stratfor notes, has been magnified by high unemployment rates in destination countries, where social security systems are strained and anti-immigrant sentiment is high. However, the combination of continued northern flows of European migrants, the increase in asylum applications and the spread of the European economic crisis appears primed to weaken some of the achievements Europe has seen in integration.

 

 

Guest Post: Why We All Lose if the Fed Wins

So let's pretend for the moment that the Federal Reserve gets everything it has stated it wants.  And even further: that Washington, D.C. gets everything it wants, too. The credit markets are repaired, and massive new loan growth flows out the door.  Loans are made to businesses that hire gobs of new people.  Consumers borrow and borrow some more to go to school and buy homes, cars, and gadgets. Inflation remains low and job growth explodes.  Tax receipts climb and the deficit falls.  The stock market goes higher and higher, gold falls and then falls some more, as confidence in the system, its masters, and its institutions grows. The Fed wins and D.C. wins. But in reality, we all lose. It's all just a matter of timing (and un-sustainability).

 

 

BlackRock Admits The Fed Is Causing "Tremendous Distortions"

BlackRock's fixed income CIO Rick Rieder is worried about the impact that higher rates will have on the stock market. In this brief interview with Bloomberg TV's Tom Keene, Rieder explains that while equities look 'cheap' given where rates are, this is a mis-pricing and warns (as we have repeatedly) that "people don't spend any time looking at cash-flow discounted by cost of financing, which is really where we think equity should be valued." In that case (as we have noted), a surge in financing costs will weigh heavily on stocks. While he is concerned about investors' general lack of awareness of the risk in bond funds - "the volatility in fixed income could actually be higher than the equity market," he fears the impact of higher rates on mortgages and other credit vehicles on the recovery. However, as Rieder notes they have been saying for a long time, "QE’s too big. You’ve got to taper down QE. It's created this tremendous distortion in interest rates," as he sees fair-value for the 10Y around 3.25%.

 

 

Hindenburg Vindicated With 9 Of 11 Red S&P Closes And Counting

Treasury bond yields have risen for 5 of the last 6 days (with the 7Y yield up 35bps in that period) adding 5bps today but since the latest cluster of Hindenburg Omens began to appear, the S&P 500 has fallen for 9 or the last 11 days (-3.6% from the 08/02 highs) and closed below its 50DMA today (on light volume). Today saw 430 new lows (the second highest since Oct 2011) and only 15 new highs. The S&P joined the Dow and the Trannies in the red for the period post-FOMC (June); and only Healthcare, Discretionary, and Industrials remain green from that 6/19 event. The USD ended the day practically unchanged but FX markets were very volatile (AUD and JPY all over the place in the majors and INR in the locals). Commodities in general slid lower by around 0.7% or so in a relativley highly correlated way with stocks. Credit markets continue to underperform, leading stocks lower. VIX was banged back above 15% to its highest close in 7 weeks. Today was the 4th negative close in a row for the S&P - the first time this year.

 

 

Phil Falcone Done: To Pay $18 Million, Admit Guilt, Agree To 5 Year Bar

SEC SAYS FALCONE CONSENTS TO BAN FROM ASSOCIATION WITH ANY BROKER, DEALER, INVESTMENT ADVISER, OTHER ENTITIES, WITH RIGHT TO REAPPLY AFTER FIVE YEARS

 

 

What Happened In 1987?

The equity rally that began in 2009 has pushed valuations higher, but has received little support from earnings. Indeed, as Morgan Stanley notes, since June 2012 the equity market rally was entirely driven by valuation and not earnings. While there have been cases when better economic conditions pushed up earnings, providing equity market support, there have also been occasions when valuation driven equity market rallies translated into weakness, as witnessed in October 1987. The equity market rally which began in 1986 and peaked in the summer of 1987 falls into this category.

 

 

Amazon Presents Its Latest Margin-Boosting Initative: Offline Website

 

 

CIA Finally Admits It Is Behind Iran's 1953 Coup

In case Ben Affleck was looking for his next Oscar-winning CIA-o-mentary, the Central Intelligence Agency (which alas in a time of NSA permasnooping has become a bit of an anachronism) may have just provided the script, with the first official admission that the flipflops on the ground orchestrated at least one Iranian coup and is ostesnibly behind all other global coups (and non-coups coughegyptcough) in the past 50 years, but until they are confirmed they will remain merely "conspiracy theories."

 

 

Fannie, Freddie Masking Billions In Losses, Watchdog Finds

As is well-known by now, one of the main reasons why the Fed's hands are tied when it comes to the future of QE, is the dramatic drop in the US budget deficit which cuts down on the amount of monetizable gross issuance (read Treasurys) and for which a big reason is that the GSEs have shifted from net uses of government cash to net sources. So in what may be the best news for Bernanke, and/or his successor, we learn that according to a report written by the Federal Housing Finance Agency (FHFA) inspector general and reviewed by Reuters, "Fannie Mae and Freddie Mac are masking billions of dollars losses because of the level of delinquent home loans they carry."

 

 

Indian Rupee Collapses - Worst Day In 20 Years

Presented with little comment (over our earlier detail) but just to note that around the world there are significant events occurring (even as the US equity market slumbers). So much for the gold coin ban - gold now trades at 4 month highs in Rupee terms.

 

 

Egypt's Next Crisis? China Dam(n)s The Nile

In East Africa, the major water resource is the Nile river, the world’s longest, at 4,130 miles, referred to by Egypt since antiquity as the country’s heart. Instability, poor governance, lack of finances and the availability of other water sources left the issue largely dormant until the 1990s, when Nilotic governments seriously started to consider using their Nile Basin waters to generate energy and irrigate crops. But now, most African countries (expecting growth), where only about 25% of the population is connected to electricity grids, are seeking any and all electric power sources; guaranteeing an ongoing and increasingly fractious source of tension for Nilotic states. With the current political turmoil roiling Egypt, Cairo’s ability to influence upstream states is currently constrained, which until the dust settles may well provide Egypt with a number of aquatic fait accomplits. If Kampala and Addis Ababa press forward with their (Chinese-sponsored) hydroelectric projects in the interim, then they will probably eventually face some “frank and candid” diplomatic discussions with Egypt, which, after all, has a 4,000 year old history of Nile concerns.  Not a happy scenario.

 

 

 

Obamacare For Dummies: The "Affordable Care Act" In One Chart

Earlier today we learned that while some executives at Forever 21 were previously confused by Obamacare, subsequently they appear to have rectified their confusion... and full-time staffing levels. Of course, there would have been no confusion had Forever 21 known what it was getting with Obamacare. So for the benefit of all their executives, and for all others who may still be confused by America's new healthcare system, here, once again, is the chart that should explain everything.

 

 

7Y Yield Jumps 30% In A Week To 25 Month Highs

For the 5th day in the last 6, US Treasuries are selling off notably. While equity volumes remain lack-luster and liquidity still thin in bonds, the weakness is most pronounced in the 7Y belly (even though selling is across the board). 10Y rates tagged 2.89% and 30Y 3.90% all pushing back to the pre-US-downgrade (debt-ceiling) levels of summer 2011. The 10Y yield has just joined the 30Y trading wider than they did when stocks hit their lows in March 2009.

 

 

 

 

Those That Are Not Preparing For The Coming Economic Depression Are Going To Bitterly Regret It

RegretThe next great economic crisis is rapidly approaching, and most people are going to be totally blindsided by it.  Even though the warning signs are glaringly obvious, most Americans continue to believe that our "leaders" know what they are doing and that everything will be just fine.  But what will happen when the next great financial crash happens and trillions of dollars of "paper wealth" disappear into thin air?  What will happen when the coming credit crunch causes economic activity to dramatically slow down and millions upon millions of people lose their jobs?  This shouldn't sound far-fetched to you.  Remember, this is exactly the kind of thing that we saw back in 2008, and the next great financial crisis is likely going to be significantly worse.  Our economy is in far worse shape than it was back in 2008, and government dependence is now at an all-time high even though most Americans are still enjoying debt-fueled false prosperity.  We are living in the largest debt bubble in the history of the planet, and when it bursts we are going to experience a crippling "adjustment" to our standard of loving.  Some people understand this and are busy preparing for what is ahead.  It has been estimated that there are approximately 3 million "preppers" in the United States, and that number is growing all the time.  Unfortunately, most Americans are not preparing for the coming economic depression and they are going to bitterly regret it. (Read More....)   So what does preparing for the coming economic depression look like?

Well, it doesn't have to be complicated.  Most of the things that you should do are just common sense.

But there are some people that take things to extremes.  For example, a new National Geographic series is featuring a family that is actually constructing a "Doomsday Castle".  The former U.S. Army officer that is building this unusual home is trying to prepare for virtually every type of disaster that he can imagine...

Meet Brent Sr., the leader of the six-person family. Brent is a former Army Infantry Training Officer who is heading up the project to build an “EMP (electromagnetic pulse)-proof medieval castle in the woods of the Carolinas.”

According to National Geographic, Brent is teaching five of his 10 children survival skills.

The unfinished, fortified castle that Brent Sr. is building — an idea he got during the Y2K prep craze — will be able to sustain an EMP-event that could wipe out a power grid, but will also survive natural disasters like hurricanes.

He even plans to train his family members to use crossbows and a catapult to defend against potential home invaders.

Not many people out there are going to take "prepping" to such extremes.

But even if you don't plan to build a "Doomsday Castle", that doesn't mean that you should be doing nothing.

Sadly, most Americans are quite ill-prepared for a major economic downturn at this point.  In fact, most Americans seem to be doing almost nothing to prepare.

Just consider the following statistics.  Most of these numbers come from one of my previous articles...

-According to a survey that was recently released, 76 percent of all Americans are living paycheck to paycheck.

-46 percent of all Americans have less than $800 in savings.

-27 percent of all Americans do not have even a single penny saved up.

-Less than one out of every four Americans has enough money stored away to cover six months of expenses.

-Each year, 12 million Americans take out high interest payday loans.

-In 1989, the debt to income ratio of the average American family was about 58 percent.  Today it is up to 154 percent.

-It is estimated that less than 10 percent of the U.S. population owns any gold or silver for investment purposes.

-44 percent of all Americans do not have first-aid kits in their homes.

-48 percent of all Americans do not have any emergency supplies stored up.

-53 percent of all Americans do not have a 3 day supply of nonperishable food and water in their homes.

-One survey asked Americans how long they thought they would survive if the electrical grid went down for an extended period of time.  Incredibly, 21 percent said that they would survive for less than a week, an additional 28 percent said that they would survive for less than two weeks, and nearly 75 percent said that they would be dead before the two month mark.

Those numbers are absolutely appalling.

When the system fails, most people are going to be completely blindsided by it and millions upon millions of people are going to absolutely freak out.

Don't let that happen to you.

So what are some basic things that you can do to get prepared for the great economic storm that is coming?

The following are a few of the things that Nicole Foss suggests...

1) Hold no debt (for most people this means renting)

2) Hold cash and cash equivalents (short term treasuries) under your own control

3) Don’t trust the banking system, deposit insurance or no deposit insurance

4) Sell equities, real estate, most bonds, commodities, collectibles (or short if you can afford to gamble)

5) Gain some control over the necessities of your own existence if you can afford it

6) Be prepared to work with others as that will give you far greater scope for resilience and security

7) If you have done all that and still have spare resources, consider precious metals as an insurance policy

8) Be worth more to your employer than he is paying you

9) Look after your health!

I think all of those are great pieces of advice.

In addition, below I have posted some of the things that I personally recommend.  The following is an excerpt from one of my previous articles entitled "25 Things That You Should Do To Get Prepared For The Coming Economic Collapse"...

#1 An Emergency Fund

Do you remember what happened when the financial system almost collapsed back in 2008?  Millions of Americans suddenly lost their jobs, and because many of them were living paycheck to paycheck, many of them also got behind on their mortgages and lost their homes.  You don't want to lose everything that you have worked for during this next major economic downturn.  It is imperative that you have an emergency fund.  It should be enough to cover all of your expenses for at least six months, but I would encourage you to have an emergency fund that is even larger than that.

#2 Don't Put All Of Your Eggs Into One Basket

If the wealth confiscation in Cyprus has taught us anything, it is that we should not put all of our eggs in one basket.  If all of your money is in one single bank account, it would be easy to wipe out.  But if you have your money scattered around a number of different places it will give you a little bit more security.

#3 Keep Some Cash At Home

This goes along with the previous point.  While it is not wise to keep all of your money at home, you do want to keep some cash on hand.  If there is an extended bank holiday or if a giant burst from the sun causes the ATM machines to go down, you want to be able to have enough cash to buy the things that your family needs.  Just ask the people of Cyprus how crippling a bank holiday can be.  One way to keep your cash secure at home is by storing it in a concealed safe.

#4 Get Out Of Debt

A lot of people seem to assume that an economic collapse would wipe out all debts, but that will probably not be the case.  In fact, if you are in a tremendous amount of debt you will be very vulnerable if the economy collapses and you are not able to find a job.  Just ask the people who were overextended and lost their jobs during the last recession.  So please get out of debt.  Many debt collectors are becoming increasingly ruthless.  In many areas of the country they are now routinely putting debtors into prison.  You do not want to be a slave to debt when the next wave of the economic collapse strikes.

#5 Gold And Silver

In the long-term, the U.S. dollar is going to lose a tremendous amount of value and inflation is going to absolutely skyrocket.  That is one reason why so many people are investing very heavily in gold, silver and other precious metals.  All over the globe, the central banks of the world are recklessly printing money.  Everyone knows that this is going to end very badly.  In fact, there is already a push in more than a dozen U.S. states to allow gold and silver coins to be used as legal tender.  Someday you will be glad that you invested in gold and silver now while their prices were still low.

#6 Reduce Your Expenses

A lot of people claim that they can't put any money toward prepping, but the truth is that we all have room to reduce our expenses.  We all spend money on things that we do not really need.  Those that are "lean and mean" will tend to do much better during the times that are coming.

#7 Start A Side Business

If you do not have much money, a great way to increase your income is by starting a side business.  And it does not take a lot of money - there are many side businesses that you can start for next to nothing.  And starting a side business will allow you to become less dependent on your job.  In this economic environment, a job could disappear at literally any time.

#8 Move Away From The Big Cities If Possible

For many people, this is simply not possible.  Many Americans are still completely and totally dependent on their jobs.  But if you are able, now is a good time to move away from the big cities.  When the next major economic downturn strikes, there will be rioting and a dramatic rise in crime in the major cities.  If you are able to move to a more rural area you will probably be in much better shape.

#9 Store Food

Global food reserves have reached their lowest level in nearly 40 years.  As the economy gets even worse and global weather patterns become even more unstable, the price of food will go much higher and global food supplies will become much tighter.  In the long run, you will be glad for the money that you put into long-term food storage now.

#10 Learn To Grow Your Own Food

This is a skill that most Americans possessed in the past, but that most Americans today have forgotten.  Growing your own food is a way to become more independent of the system, and it is a way to get prepared for what is ahead.

#11 Nobody Can Survive Without Water

Without water, you would not even make it a few days in an emergency situation.  It is imperative that you have a plan to provide clean drinking water for your family when disaster strikes.

#12 Have A Plan For When The Grid Goes Down

What would you do if the grid went down and you suddenly did not have power for an extended period of time?  Anyone that has spent more than a few hours without power knows how frustrating this can be.  You need to have a plan for how you are going to provide power to your home that is independent of the power company.

#13 Have Blankets And Warm Clothing On Hand

This is more for emergency situations or for a complete meltdown of society.  During any major crisis, blankets and warm clothing are in great demand.  They also could potentially make great barter items.

#14 Store Personal Hygiene Supplies

A lot of preppers store up huge amounts of food, but they forget all about personal hygiene supplies.  During a long crisis, these are items that you would greatly miss if you do not have them stored up.  These types of supplies would also be great for barter.

#15 Store Medicine And Medical Supplies

You will also want to store up medical supplies and any medicine that you may need.  In an emergency situation, you definitely would not want to be without bandages and a first-aid kit.  Over the course of a long crisis, you do not want to run out of any medicines that are critical for your health.

#16 Stock Up On Vitamins

A lot of preppers do not think about this either, but it is very important.  These days, it is becoming increasingly difficult to get adequate nutrition from the foods that we eat.  That is why it is very important to have an adequate store of vitamins and other supplements.

#17 Make A List Of Other Supplies That You Will Need

During any crisis, there will be a lot of other things that you will need in addition to food and water.  The following are just a few basic things that it would be wise to have on hand...

- an axe

- a can opener

- flashlights

- battery-powered radio

- extra batteries

- lighters or matches

- fire extinguisher

- sewing kit

- tools

This list could be much, much longer, but hopefully this will get you started.

#18 Don't Forget The Special Needs Of Your Babies And Your Pets

Young children and pets have special needs.  As you store supplies, don't forget about the things that they will need as well.

#19 Entertainment

This may sound trivial, but the truth is that our entertainment-addicted society would become very bored and very frustrated if the grid suddenly went down for an extended period of time.  Card games and other basic forms of entertainment can make enduring a crisis much easier.

#20 Self-Defense

In the years ahead, being able to defend your home and your family is going to become increasingly important.  When the economy crashes, people are going to start to become very desperate.  And desperate people do desperate things.

#21 Get Your Ammunition While You Still Can

Your firearms will not do you much good if you do not have ammunition for them.  Already there are widespread reports of huge ammunition shortages.  The following is from a recent CNS News article...

"The run on ammunition has manufacturers scrambling to accommodate demand and reassure customers, as many new and seasoned gun owners stock up over fears of new firearms regulations at both the state and federal levels."

Don't just assume that you will always be able to purchase large amounts of ammunition whenever you want.  Get it now while you still can.

#22 If You Have To Go...

Have a plan for what you and your family will do if you are forced to leave your home.  If you do have to go, the following are some items that you will want to have on hand...

- a map of the area

- a compass

- backpacks for every member of the family

- sleeping bags

- warm clothing

- comfortable shoes or hiking boots

#23 Community

One of the most important assets in any crisis situation is community.  If you have friends or neighbors that you can depend upon, that is invaluable.  The time spent building those bonds now will pay off greatly during a major crisis.

#24 Have A Back-Up Plan And Be Flexible

Mike Tyson once said the following...

"Everyone has a plan until they get punched in the mouth."

No plan ever unfolds perfectly.  When your plan is disrupted, what will you do?

It will be imperative for all of us to have a back-up plan and to be flexible during the years ahead.

#25 Keep Your Prepping To Yourself

Do not go around and tell everyone in the area where you live about your prepping.  If you do, then you may find yourself overwhelmed with "visitors" when everything falls apart.

And please do not go on television and brag about your prepping to a national audience.

Prepping is something that you want to keep to yourself, unless you want hordes of desperate people banging on your door in the future.

*****

For much more on prepping, I would encourage you to check out the dozens of excellent websites out there that teach people advanced prepping techniques for free.

So what do you think about all of this?

Are you getting prepared for the coming economic depression?

Please feel free to share your perspective on prepping by posting a comment below...

Be Sociable, Share!

 

 

 

Obama Administration Makes Secret Deal With Mexico To Help Illegal Immigrants In The Workplace

Illegal Immigration March - Photo by Jonathan McIntoshInstead of making sure that U.S. employers are not hiring illegal immigrants, the Obama administration has actually signed a secret deal with Mexico to protect “the rights” of illegal immigrants in the workplace.  According to this “memorandum of understanding”, the Equal Employment Opportunity Commission will spend U.S. taxpayer dollars to educate illegal immigrants about their civil rights, workplace safety, and minimum wage laws.  This is yet another example of how the Obama administration is openly flouting the law and doing all that it can to promote even more illegal immigration.  We are rapidly becoming a lawless nation that has absolutely no regard for the rule of law, and it all starts with the horrendous example that is being set at the very top. (Read More.....)

 

 

 

 

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/a3e35152-08a6-11e3-ad07-00144feabdc0.html#ixzz2cSeXq9IP


NOW IT'S PERSONAL! ‘…Mr Rusbridger was writing after the partner of Glenn Greenwald, the reporter who interviewed Edward Snowden, the former contractor for the National Security Agency who exposed the programme, was detained at Heathrow for nine hours under the Terrorism Act…’




White House Had Advance Notice on Heathrow Detention...
British security seized encrypted computer files...
'They said I would be put in jail if I didn't cooperate'...
Agents asked 'about my entire life'...
GUARDIAN: 'A betrayal of trust and principle'...
Britain forced newspaper to destroy copy of Snowden material...

 

Obama administration asks Supreme Court to allow warrantless cellphone searches...

 

1 in 4 adults in NJ moving back in with parents...

 

CHICAGO TRIB ON OBAMACARE: 'Let's delay, rewrite this ill-conceived law'...

Admin Has Missed Half of Legally Imposed Deadlines...

FOREVER 21 to do away with full-time employees...

 

Fed Ownership of U.S. Debt Breaks $2 Trillion...

 

 

Ex NSA head insults Bloggers As Privacy Violations Mount...

New Utah spy center requires 1.7M gallons of water daily to operate...

 

 

 

Kucinich: “Everybody Lies To Congress; Abolish NSA, Celebrate Snowden”

Steve Watson | There should be a ‘death penalty’ for government agencies that betray the American people.

 

TSA to Purchase 3.5 Million Rounds of Ammunition

Paul Joseph Watson | Enough for its agents to fire 9,400 bullets a day, every day of the year.

 

CIA Confirms Role in 1953 Iran Coup

Malcolm Byrne | American and British involvement in Mosaddeq’s ouster has long been public knowledge.

 

Forced Mass Drugging of US Troops an Underreported Scandal

Alex Jones & Paul Joseph Watson | Soldiers being forced to pop pills by exempt officer class.

 

Glenn Danzig Condemns Obama’s Drone Policies

Adan Salazar | Legendary rocker says Democrats are “fascists disguised as liberals.”

 

Time Reporter Who Advocated Drone Strike on Assange Loves Big Brother

Paul Joseph Watson | ‘Big government helps protect our rights’.

 

Video: The New Common Core Obama Math Standard: “3 x 4 = 11″

Mac Slavo | Earlier this year President Obama detailed his new educational initiatives aimed at “closing America’s school readiness gap.”

 

Why The 2,776 NSA Violations Are No Big Deal

Ron Paul | They are routinely breaking their own rules and covering it up.

 

 

Those That Are Not Preparing For The Coming Economic Depression Are Going To Bitterly Regret It

Economic Collapse | The next great economic crisis is rapidly approaching, and most people are going to be totally blindsided by it.

 

Krugman Admits Keynesian “Economics” Is About Empowering the State

LewRockwell.com | The essence of Keynesian “economics” is giving the Political Classes more power.

 

What Is Going To Happen If Interest Rates Continue To Rise Rapidly?

Michael Snyder | If you want to track how close we are to the next financial collapse, there is one number that you need to be watching above all others.

U.K. government thought destroying Guardian hard drives would stop Snowden stories

Washington Post | The British government raided the Guardian’s offices in order to destroy hard drives containing information provided by Snowden.

 

Kucinich: “Everybody Lies To Congress; Abolish NSA, Celebrate Snowden”

Steve Watson | There should be a ‘death penalty’ for government agencies that betray the American people.

 

The Transgender Bathroom-Locker Room Question

Media Research Center | You are now permitted to shower and change in the girls’ locker room despite the fact that you may have male…ahem….parts.

 

TSA to Purchase 3.5 Million Rounds of Ammunition

Paul Joseph Watson | Enough for its agents to fire 9,4000 bullets a day, every day of the year.

 

Greenwald Partner Was Questioned SOLELY About What Guardian Was Publishing Next

Paul Joseph Watson | Despite being detained under the Terrorism Act, Miranda was not asked anything about terrorism.

 

Mass Drugging of US Troops an Underreported Scandal

Alex Jones & Paul Joseph Watson | Soldiers being forced to pop pills by exempt officer class.

 

Cholera Strain Introduced to Haiti by UN Still Killing People

The Atlantic | It is time for the organization to apologize and take responsibility for the consequences of its actions and its inaction.

 

BREMMER: The UK And US Are Likely Preparing To Indict Journalist Glenn Greenwald Over Snowden Leaks

Business Insider | Geo-political expert Ian Bremmer of the Eurasia Group has suggested that the motive is far more serious than intimidation.

 

Time Reporter Who Advocated Drone Strike on Assange Loves Big Brother

Paul Joseph Watson | ‘Big government helps protect our rights’.

 

Why The 2,776 NSA Violations Are No Big Deal

Ron Paul | They are routinely breaking their own rules and covering it up.

It’s Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama’s 1st Term

CNS News | The Congressional Budget Office last week released updated historical budget data for the federal government, reporting a deficit of $1.087 trillion in fiscal 2012.

 

Commodities: Egyptian bloodbath threatens crucial routes for oil and gas supplies

London Telegraph | Egypt is a key bottleneck in the global oil industry. Should the current turmoil in the North African country get any worse, a potential oil spike could damage any nascent economic recovery.

 

Germany recognizes Bitcoin as ‘private money’

RT | Bitcoin has been recognized for legal and tax purposes in Germany, making it the first country to take an official stance on the status of using the online currency as money.

 

JPMorgan Is Selling The Building That Houses Its Gold Vault

Zero Hedge | On the surface, there is nothing spectacular about the weekend news that JPMorgan is seeking to sell its 1 Chase Manhattan Plaza office building.

JPMorgan Is Selling The Building That Houses Its Gold Vault  Zero Hedge
August 19, 2013

On the surface, there is nothing spectacular about the weekend news that JPMorgan is seeking to sell its 1 Chase Manhattan Plaza office building. After all, the former headquarters of Chase Manhattan Bank, located deep in the heart of the financial district and which was built by its then chairman David Rockefeller, is a remnant to another time – a time when banking was about providing loans, not about managing and trading assets which has become the realm of Midtown New York, and since JPM already has extensive Midtown exposure with its offices at 270, 270 and 245 Park, the 1 CMP building always stood out as a bit of a sore thumb. Of course, as Zero Hedge readers first learned, the big surprise is literally below the surfacesome 90 feet below street level to be exact, where the formerly secret JPM gold vault is located, which also happens to be the biggest commercial gold vault in the world.

It was only a month ago when we learned that JPM was planning to exit the physical commodity business, and today we know that the firm is set on disposing of its one crowning asset in the commercial gold vaulting industry. This begs the question: is JPM set to fully and completely exit the precious metals vertical which it inherited when it was handed Bear Stearns on a $10 platter (together with the now defunct firm’s legacy short positions)? If so, is it also in the process of unwinding any and all legacy precious metals exposure including rumored “whale-sized” shorts in the paper silver and/or gold axes, and what happens to the price of silver and gold when a massive stock position becomes “flow” in the other direction (i.e., short covering)?

Finally, if indeed JPM is getting out dodge, is there some hope that a semblance of normalcy will return to a market best known for the AM-PM closing fix arbitrage, as well as the occasional bid stack take out slam and close (and open) banging? Or, will the buyer of the building, and vault, be none other than the Federal Reserve, which will merely take this opportunity to merge its own, and the world’s largest commercial gold vaults, which just happen to be located next to each other and connected by tunnel deep below the ironically named Liberty Street?

Inquiring minds certainly want to know.

More from Bloomberg on the sale process:

JPMorgan Chase & Co. (JPM) is seeking to sell 1 Chase Manhattan Plaza, the lower Manhattan tower built by David Rockefeller in the late 1950s, as the company reduces its office space in the city.

The bank would relocate about 4,000 employees, most of the people who work in the 60-story skyscraper, to other New York locations, said Brian Marchiony, a spokesman. JPMorgan occupies about half of the space in 2.2 million-square-foot (204,000-square-meter) building, according to CoStar Group Inc. (CSGP), a Washington-based firm that follows office leasing.

The building may fetch at least $600 million, according to a person with knowledge of the offering. The cost to buyers would be higher because they would assume any conversion expenses, said the person, who asked not to be identified because the discussions are private.

An offering of the tower, a city landmark designed by architect Gordon Bunshaft, would test the downtown office market. Shrinking financial companies have left lower Manhattan landlords with at least 6.3 million square feet of space to fill, according to data from brokerage Newmark Knight Frank Grubb. The tower may achieve its highest value as a mixed-use property, with a hotel, additional retail or apartments added, said Dan Fasulo, managing director of Real Capital Analytics Inc., a New York-based research firm that tracks commercial real estate sales.

“You could do a department store in the base,” he said. “It’s a very exciting potential mixed-use opportunity, in my mind. I think the market will receive it very well.”

And the vault in the basement, “longer than a football field,” would become a restaurant or a paintball arena?

* * *

For those who missed it, here is the excerpt from the exclusive Zero Hedge expose shining some light on the world’s biggest and now supposedly almost empty, commercial gold vault.

From: Why Is JPMorgan’s Gold Vault, The Largest In The World, Located Next To The New York Fed’s?

Curiously (or perhaps not at all), when the CME on behalf of JPM submitted the certification filing alongside the comparable such supplements as filed by Brinks above, it requested a FOIA (Freedom of Information Act) confidential treatment. As a reminder, to be eligible for FOIA exemption status the protected information must be of vital importance to the nation’s safety. This is precisely what JPM thought the details surrounding its New York vault are. To wit:

Pursuant to Sections 8 and 8(a) of the Commodity Exchange Act (“CEA”), as amended, and Commission Regulation 145.9(d), NYMEX and COMEX request confidential treatment of Appendix A, Appendix B, and this letter on the grounds that disclosure of Appendix A and/or Appendix B would reveal confidential commercial information of the submitters (NYMEX and COMEX) and of other persons. Pursuant to Commission Regulation 145.9(d)(5), NYMEX and COMEX request that confidential treatment be maintained for Appendix A and Appendix B until further notice from the Exchanges. We also request that the Commission notify the undersigned immediately after receiving any FOIA request for said Appendix A, Appendix B or any other court order, subpoena or summons for same. Finally, we request that we be notified in the event the Commission intends to disclose such Appendix A and/or Appendix B to Congress or to any other governmental agency or unit pursuant to Section 8 of the CEA. NYMEX and COMEX do not waive their notification rights under Section 8(f) of the CEA with respect to any subpoena or summons for such Appendix A or Appendix B.

Please contact the undersigned at (212) 299-2207 should you have any questions concerning this letter.

Sincerely, /s/ Felix Khalatnikov

Yet oddly enough, the FOIA request letter itself, while also being filed with a request for Confidential Treatment, never got it. As a result it was posted at this address. Ooops.

But a far bigger oops, is that on the first page of said declassified confidential FOIA app, in black ink, we get the missing piece:

In addition, the Exchanges are providing the Commission with the application summary of requirements for the JP Morgan Chase Bank N.A. facility located at 1 Chase Manhattan Plaza, New York, NY.

And so, despite the extended attempts at secrecy, we finally hit the proverbial goldmine vault.

So what do we know about 1 Chase Manhattan Plaza. Well, aside from the fact that the 60-story structure, built in the 1950s, was the headquarters of the once-legendary Chase Manhattan corporation, and which when it was built was the world’s sixth tallest building, not much.

So we set off to learn more.

JPMorgan Is Selling The Building That Houses Its Gold Vault 1%20CMP 0

To learn more, we first went to the motherlode: the Landmarks Preservation Commission, whose report on 1 CMP describes everyone one wants to know about this building and then much more, such as that:

One Chase Manhattan Plaza combines three main components: a 60-story tower, a 2½ acre plaza, and a 6-story base, of which 5 floors are beneath grade.

So the old Chase HQ, once the stomping grounds of one David Rockefeller, and soon to be the other half of JPMorgan Chase, has 5 sub-basements, just like the NY Fed…

Reading on:

Excavations, said to be the largest in New York City history, reached a depth of 90 feet

Or, about the same depth as the bottom-most sub-basement under the NY Fed…

But then we hit the jackpot:

Originally constructed with white marble terrazzo paving and enclosed by a solid parapet of white marble travertine that was personally selected by Bunshaft in Tivoli, Italy, the L-shaped plaza levels the sloping site and conceals six floors of operations that would have been difficult to fit into a single floor of the tower, including an auditorium seating 800 [and] the world’s largest bank vault.

And there you have it: the JPM vault, recommissioned to become a commercial vault, just happens to also be the “world’s largest bank vault.”

Digging some more into the curious nature of this biggest bank vault in the world, we learn the following, courtesy of a freely available book written by one of the architects:

On the lowest level was the vault, which rested directly on the rock – the “largest bank vault in the world, longer than a football field.” It was anchored to the bedrock with steel rods. This was to prevent the watertight, concrete structure from floating to the surface like a huge bubble in the event that an atomic bomb falling in the bay would blow away the building and flood the area.

In other words, the world’s biggest bank vault, that belonging to the private Chase Manhattan empire, and then, to JPMorgan, was so safe, the creators even had a plan of action should it sustain a near-direct hit from a nuclear bomb, and suffer epic flooding (such as that from Hurricane Sandy).

It is no surprise, then, that the street entrance to this world’s biggest vault located under 1 Chase Manhattan Plaza makes the entrance to any medieval impregnable fortress seem like child’s play in comparison. Courtesy of Google StreetView:

JPMorgan Is Selling The Building That Houses Its Gold Vault 1%20CMP%20entrance 0

Yet it is not what is on this side of the street, which just happens to be known as Liberty Street, that is what is the most interesting part of this whole story. It is what is on the other:

JPMorgan Is Selling The Building That Houses Its Gold Vault

Or, shown another way…

JPMorgan Is Selling The Building That Houses Its Gold Vault CMP%20NYFed%20map 0

That’s right, ladies and gentlemen, as a result of our cursory examination, we have learned that the world’s largest private, and commercial, gold vault, that belonging once upon a time to Chase Manhattan, and now to JPMorgan Chase, is located, right across the street, and at the same level underground, resting just on top of the Manhattan bedrock, as the vault belonging to the New York Federal Reserve, which according to folklore is the official location of the biggest collection of sovereign, public gold in the world.

At this point we would hate to be self-referential, and point out what one of our own commentators noted on the topic of the Fed’s vault a year ago, namely that:

Chase Plaza (now the Property of JPM) is linked to the facility via tunnel… I have seen it.  The elevators on the Chase side are incredible. They could lift a tank.

… but we won’t, and instead we will let readers make up their own mind why the the thousands of tons of sovereign gold in the possession of the New York Fed, have to be literally inches across, if not directly connected, to the largest private gold vault in the world.

We think readers can do a good enough job on their own.

Related posts:

  1. Why Is JPMorgan’s Gold Vault, The Largest In The World, Located Next To The New York Fed?
  2. JPMorgan Reopens New York Gold Vault, Concurrently Launches Vaulting Facility In Asia (In Desperate Bid For Physical?)
  3. JPMorgan’s Eligible Gold Plummets 65% In 24 Hours To All Time Low
  4. The Latest Gold Fraud Bombshell: Canada’s Only Bullion Bank Gold Vault Is Practically Empty
  5. “Hello HSBC, This Is JPMorgan – We Urgently Need Some Of Your Gold”

This article was posted: Monday, August 19, 2013 at 4:46 am

 

 

 

 

You Won’t BELIEVE What’s Going On with Government Spying on Americans Posted by : George Washington Post date: 08/17/2013 - New Revelations Are Breaking Every Day

Revelations about the breathtaking scope of government spying are coming so fast that it’s time for an updated roundup:

*   Just weeks after NSA boss Alexander said that a review of NSA spying found not even one violation, the Washington Post published an internal NSA audit showing that the agency has broken its own rules thousands of times each year

*   2 Senators on the intelligence committee said the violations revealed in the Post article were just the “tip of the iceberg”

*   Glenn Greenwald notes:  “One key to the WashPost story: the reports are internal, NSA audits, which means high likelihood of both under-counting & white-washing”.(Even so, the White House tried to do damage control by retroactively changing on-the-record quotes)

*   The government is spying on essentially everything we do. It is not just “metadata” … although that is enough to destroy your privacy

*   The government has adopted a secret interpretation of the Patriot Act which allows it to pretend that “everything” is relevant … so it spies on everyone

*   NSA whistleblowers say that the NSA collects all of our conversations word-for-word

*   It’s not just the NSA … Many other agencies, like the FBI and IRS – concerned only with domestic issues – spy on Americans as well

*   The information gained through spying is shared with federal, state and local agencies, and they are using that information to prosecute petty crimes such as drugs and taxes.  The agencies are instructed to intentionally “launder” the information gained through spying, i.e. to pretend that they got the information in a more legitimate way … and to hide that from defense attorneys and judges

*   Top counter-terror experts say that the government’s mass spying doesn’t keep us safe 

*   Indeed, they say that mass spying actually hurts U.S. counter-terror efforts.

*   They say we can, instead, keep everyone safe without violating the Constitutionmore cheaply and efficiently than the current system

*   There is no real oversight by Congress, the courts, or the executive branch of government. And see this and this.

*   Indeed, most Congress members have no idea what the NSA is doing.  Even staunch defenders of the NSA now say they’ve been kept in the dark

*   A Federal judge who was on the secret spying court for 3 years says that it’s a kangaroo court

*   Even the current judges on the secret spying court now admit that they’re out of the loop and powerless to exercise real oversight

*   A former U.S. president says that the spying program shows that we no longer have a functioning democracy

*   The chairs of the 9/11 Commission say that NSA spying has gone way too far

*   Top constitutional experts say that Obama and Bush are worse than Nixon … and the Stasi East Germans

*   While the government initially claimed that mass surveillance on Americans prevented more than 50 terror attacks, the NSA’s deputy director John Inglis walked that position back all the way to saying that – at the mostone (1) plot might have been disrupted by the bulk phone records collection alone.  In other words, the NSA can’t prove that stopped any terror attacks. The government greatly exaggerated an alleged recent terror plot for political purposes (and promoted the fearmongering of serial liars).  The argument that recent terror warnings show that NSA spying is necessary is so weak that American counter-terrorism experts have slammed it as “crazy pants”

*   Even President Obama admits that you’re much less likely to be killed by terrorists than a car accident.  So the government has resorted to lamer and lamer excuses to try to justify mass surveillance

*   Experts say that the spying program is illegal, and is exactly the kind of thing which King George imposed on the American colonists … which led to the Revolutionary War

*   The top counter-terrorism Czar under Clinton and Bush says that revealing NSA spying programs does not harm national security

*   The feds are considering prosecuting the owner of a private email company – who shut down his business rather than turning over records to the NSA – for refusing to fork over the information and keep quiet.  This is a little like trying to throw someone in jail because he’s died and is no longer paying taxes

*   Whistleblowers on illegal spying have no “legal” way to get the information out

*   There are indications that the government isn’t just passively gathering the information … but is actively using it for mischievous purposes

*   Spying started before 9/11 … and various excuses have been used to spy on Americans over the years

*   Governments and big corporations are doing everything they can to destroy anonymity

*   Mass spying creates an easy mark for hackers. Indeed, the Pentagon now sees the collection of “big data” as a “national security threat” … but the NSA is the biggest data collector on the planet, and thus provides a tempting mother lode of information for foreign hackers

*   Mass surveillance by the NSA directly harms internet companies, Silicon Valley, California … and the entire U.S. economy. And see these reports from Boingboing and the Guardian

*   IT and security professionals are quite concerned about government spying

*   Some people make a lot of money off of mass spying.  But the government isn’t using the spying program to stop the worst types of lawlessness

*   Polls show that the public doesn’t believe the NSA … and thinks that the government has gone way too far in the name of terrorism

*   While leaker Edward Snowden is treated as a traitor by the fatcats and elites, he is considered a hero by the American public

*   Congress members are getting an earful from their constituents about mass surveillance

*   The heads of the intelligence services have repeatedly been caught lying  about spying.  And even liberal publications are starting to say that Obama has been intentionally lying about spying

*   Only 11% of Americans trust Obama to actually do anything to rein in spying

*   A huge majority of Americans wants the director of intelligence – Clapper – prosecuted for perjury

*   While the Obama administration is spying on everyone in the country – it is at the same time the most secretive administration ever (background). That’s despite Obama saying he’s running the most transparent administration ever

*   A Congressman noted that – even if a mass surveillance program is started for good purposes – it will inevitably turn into a witch hunt

*   Surveillance can be used to frame you if someone in government happens to take a dislike to you

*   Government spying has always focused on crushing dissent … not on keeping us safe

*   An NSA whistleblower says that the NSA is spying on – and blackmailing – top government officials and military officers (and see this)

*   High-level US government officials have warned for 40 years that mass surveillance would lead to tyranny in America

*   A top NSA whistleblower says that the only way to fix things is to fire all of the corrupt government officials who let it happen.  As the polls above show, the American public is starting to wake up to that fact

 

 

NSA BouNDLeSS INFoRMaNT... Posted by: williambanzai7 Post date: 08/17/2013 - Customer Service Hotline...

NSA BouNDLeSS INFoRMaNT...




 

.

 

.

 

 

.

.

 

 

Regarding our tyranny trend

Elites have a message to send

The rights we hold dear

May soon disappear

Our lives are a means to an end

The Limerick King

 

 

.

 

 

.

 

 

 

.

 

By:@blumaberlin

 

On Civil Disobedience and Whistleblowing

.

Dana Boyd: http://www.zephoria.org/thoughts/archives/2013/07/19/edward-snowden-whis...

 

.

 

WB7: Vichy Congress...What does an institution that can't even balance it's own fucking checkbook know about checks and balances?

 

 

Stock Market Crash Just Ahead?

Lew Rockwell.com | Central bank manipulation are fueling recessions.

New Evidence Princess Diana Was “Killed by a Member of the British Military” Being Investigated

Sky News | It was passed to the police by the parents-in-law of a former soldier.

 

NSA revelations of privacy breaches ‘the tip of the iceberg’ – Senate duo

London Guardian | Leading critics of NSA Ron Wyden and Mark Udall say ‘public deserves to know more about violations of secret court orders’.

 

Egyptian protester cut down in hail of gunfire after standing ground in front of enemy tank

NY Daily News | It was a scene straight out of Tiananmen Square.

 

 

 

VIDEO: 2 Men Rob Priests at Gunpoint in Front of Church... { Niggers, of course! ‘…BSO describes the suspects as two black males. One suspect is about 5’7” tall and approximately in his late 20s or early 30s. His accomplice is about 6’ tall, heavy-set and was wearing a black shirt with a white stripe…’ }

NSA broke privacy rules 'thousands of times'...

Funds New 'Top Secret' Data Lab...

NOONAN: What We Lose if We Give Up Privacy...

Dems Angry...

 

Scotland Yard examines new information on death of Princess Diana...

 

 

Scotland Yard examines new information on death of Diana, Princess of Wales

Scotland Yard has launched an investigation into new claims that Diana, Princess of Wales was murdered by a member of the British military.

 

Princess Diana, Nigeria, 1990. Photo: REX FEATURES

By David Barrett, Home Affairs Correspondent

6:10PM BST 17 Aug 2013

It said last night that it had asked specialist detectives to examine new allegations and evidence passed to it “recently”. The move was approved by Sir Bernard Hogan-Howe, its most senior officer.

The claims were given to the force by the Royal Military Police, after surfacing during the trial of Sgt Danny Nightingale, the SAS sniper convicted of illegal weapons possession.

The dossier is said to include a claim that the SAS “was behind Princess Diana’s death”. Scotland Yard declined to confirm the content or origin of the material.

Officers from the specialist crime and operations command will carry out a “scoping” exercise to assess if a full-scale investigation is justified into whether the Princess, her boyfriend Dodi Fayed and driver Henri Paul were murdered.

Last night’s disclosure comes in spite of the inquest into the death of the Princess and Mr Fayed dismissing any claims of murder made by Mohammed Fayed, Dodi’s father, and conspiracy theorists.

Related Articles

*   BBC man calls for answers over Diana's death

16 Aug 2013

*   Naomi Watts: 'I was very nervous about Princess Diana's accent'

13 Aug 2013

*   Mohamed Fayed will not challenge Princess Diana inquest verdict

09 Apr 2008

*   Key events surrounding deaths Diana, Princess of Wales and Dodi Fayed

17 Aug 2013

Since then murder claims have continued to be made but have never been looked into by British police – making last night’s move unprecedented.

The decision to examine the new claims suggests that officers believe they must be looked at by detectives to assess whether they have any weight.

However they come from the estranged parents-in-law of “Soldier N”, an SAS soldier who was a key witness in the successful prosecution of Sgt Nightingale. He was himself convicted of illegal weapons possession.

His estranged wife’s parents wrote to the SAS’s commanding officer claiming the soldier had told his wife that the unit had “arranged” the Princess’s death and that this had been “covered up”.

The source of the claims will inevitably raise questions over their credibility, and why Scotland Yard acted.

Scotland Yard emphasised last night that it was not reopening the previous investigation into the deaths, Operation Paget, and highlighted the verdict of the inquest held after that inquiry was completed.

Officers will have to assess whether the information has not been investigated previously and can potentially shed new light on the deaths.

The development comes ahead of next week’s 16th anniversary of the Princess’s death as a result of injuries she suffered when the Mercedes in which she was travelling crashed in a tunnel in Paris.

A spokesman said: “The Metropolitan Police Service is scoping information that has recently been received in relation to the deaths and assessing its relevance and credibility.

"The assessment will be carried out by officers from the specialist crime and operations command. This is not a reinvestigation and does not come under Operation Paget.

“On April 7, 2008, the [inquest] jury concluded their verdict as 'unlawful killing, grossly negligent driving of the following vehicles and of the Mercedes’.”

Detectives are understood to have contacted the former soldier’s estranged wife.

A royal spokesman said there would be no comment from the Duke of Cambridge, Prince Harry or Clarence House.

A spokesman for Mr Fayed said he would be “interested in seeing the outcome”.

The jury at the inquest returned a majority verdict in April 2008, which indicated that paparazzi photographers who pursued the Princess were to blame for her “unlawful killing”.

Mr Paul was also culpable for her death due to his “gross negligence” in driving while three times over the drink-drive limit, the jury found.

An earlier French police investigation cleared the photographers of being directly linked to the tragedy.

 

 

19 Shocking Examples Of How Political Correctness Is Destroying America

If you say the “wrong thing” in America today, you could be penalized, fired or even taken to court.  Political correctness is running rampant, and it is absolutely destroying this nation.  In his novel 1984, George Orwell imagined a future world where speech was greatly restricted.  He called that the language that the totalitarian state in his novel created “Newspeak”, and it bears a striking resemblance to the political correctness that we see in America right now.  According to Wikipedia, Newspeak is “a reduced language created by the totalitarian state as a tool to limit free thought, and concepts that pose a threat to the regime such as freedom, self-expression, individuality, peace, etc. Any form of thought alternative to the party’s construct is classified as ‘thoughtcrime.’”  Yes, people are not usually being hauled off to prison for what they are saying just yet, but we are heading down that path.  Every single day, the mainstream media in the United States bombards us with subtle messages about what we should believe and what “appropriate speech” consists of.  Most of the time, most Americans quietly fall in line with this unwritten speech code.  In fact, most of the time we enforce this unwritten speech code among each other.  Those that would dare to buck the system are finding out that the consequences can be rather severe.  The following are 19 shocking examples of how political correctness is destroying America… (Read More.....)  #1 The Missouri State Fair has permanently banned a rodeo clown from performing just because he wore an Obama mask, and now all of the other rodeo clowns are being required to take “sensitivity training“…

But the state commission went further, saying it will require that before the Rodeo Cowboy Association can take part in any future state fair, “they must provide evidence to the director of the Missouri State Fair that they have proof that all officials and subcontractors of the MRCA have successfully participated in sensitivity training.”

#2 Government workers in Seattle have been told that they should no longer use the words “citizen” and “brown bag” because they are potentially offensive.

#3 A Florida police officer recently lost his job for calling Trayvon Martin a “thug” on Facebook.

#4 “Climate change deniers” are definitely not wanted at the U.S. Department of the Interior.  Interior Secretary Sally Jewell was recently quoted as making the following statement: “I hope there are no climate-change deniers in the Department of Interior”.

#5 A professor at Ball State University was recently banned from even mentioning the concept of intelligent design because it would supposedly “violate the academic integrity” of the course that he was teaching.

#6 The mayor of Washington D.C. recently asked singer Donnie McClurkin not to attend his own concert because of his views on homosexuality.

#7 U.S. Senator Chuck Schumer is calling on athletes marching in the opening ceremonies at the Winter Olympics in Sochi next year to “embarrass” Russian President Vladimir Putin by protesting for gay rights.

#8 Chaplains in the U.S. military are being forced to perform gay marriages, even if it goes against their personal religious beliefs.  The few chaplains that have refused to follow orders know that it means the end of their careers.

#9 The governor of California has signed a bill into law which will allow transgendered students to use whatever bathrooms and gym facilities that they would like…

Transgendered students in California will now have the right to use whichever bathrooms they prefer and join either the boys’ or girls’ sports teams, thanks to landmark legislation signed by Democratic Gov. Jerry Brown on Monday.

The law amends the state’s education code, and stipulates that each student will have access to facilities, sports teams, and programs that are “consistent with his or her gender identity,” rather than the student’s actual biological composition. A male student who self-identifies as female could therefore use the girls’ bathroom, even if he is anatomically male.

#10 In San Francisco, authorities have installed small plastic “privacy screens” on library computers so that perverts can continue to exercise their “right” to watch pornography at the library without children being directly exposed to it.

#11 In America today, there are many groups that are absolutely obsessed with eradicating every mention of God out of the public sphere.  For example, an elementary school in North Carolina ordered a little six-year-old girl to remove the word “God” from a poem that she wrote to honor her two grandfathers that had served in the Vietnam War.

#12 A high school track team was disqualified earlier this year because one of the runners “made a gesture thanking God” once he had crossed the finish line.

#13 Earlier this year, a Florida Atlantic University student that refused to stomp on the name of Jesus was banned from class.

#14 A student at Sonoma State University was ordered to take off a cross that she was wearing because someone “could be offended“.

#15 A teacher in New Jersey was fired for giving his own Bible to a student that did not own one.

#16 Volunteer chaplains for the Charlotte-Mecklenburg Police Department have been banned from using the name of Jesus on government property.

#17 According to a new Army manual, U.S. soldiers will now be instructed to avoid “any criticism of pedophilia” and to avoid criticizing “anything related to Islam”.  The following is from a Judicial Watch article

The draft leaked to the newspaper offers a list of “taboo conversation topics” that soldiers should avoid, including “making derogatory comments about the Taliban,” “advocating women’s rights,” “any criticism of pedophilia,” “directing any criticism towards Afghans,” “mentioning homosexuality and homosexual conduct” or “anything related to Islam.”

#18 The Obama administration has banned all U.S. government agencies from producing any training materials that link Islam with terrorism.  In fact, the FBI has gone back and purged references to Islam and terrorism from hundreds of old documents.

#19 According to the Equal Employment Opportunity Commission, it is illegal for employers to discriminate against criminals because it has a “disproportionate” impact on minorities.

It would be hard to overstate the power that all of this relentless “thought training” has on all of us.  And young people are particularly susceptible to the power of suggestion.  If you doubt this, just check out this video of a little boy praying to Barack Obama as if he was a deity

It would be a huge mistake to underestimate the power of the mainstream media in America today.  As I mentioned the other day, Americans watch an average of about 153 hours of television a month.  When Americans go to work or go to school, the conversations that they have with others are mostly based on content that the media feeds them.  And about 90 percent of what we watch on television is controlled by just six gigantic corporations.

But the media is not the only source that is telling us what to think.  The truth is that the messaging that comes from all of our major institutions (the government, the media, the education system, etc.) is remarkably consistent.  The establishment wants to control what we say and how we think, and they have a relentless propaganda machine that never stops working.

The way that we all see the world has been greatly shaped by the thousands of hours of  “thought training” that we have all received over the years.  Understanding what is being done to us is the first step toward breaking free.

 

 

FRiDaY BioLoGY: KeYNeSiAN MoNKeY BuSiNeSS... Posted by: williambanzai7 Post date: 08/16/2013 - One that has the same eating, drinking and shitting habits as the other two, only much much much bigger...

 

Cisco CEO Chambers' Warning: Record Sales And “Lumpy” Demand (Just Like In November 2007, A Month Before Stocks Began To Crash) Posted by : testosteronepit Post date: 08/16/2013 - But this time it’s different

 

Snowden Revelations and NSA Posted by: Pivotfarm Post date: 08/16/2013 - Obama must be fuming like a pile of something in the pristine Oval Office today as he hears of the latest Edward-Snowden revelations. Follow ZeroHedge in Real-Time on FinancialJuice

Obama must be fuming like a pile of something in the pristine Oval Office today as he hears of the latest Edward-Snowden revelations. You can just imagine him sitting there saying to an imaginary spy behind the door of Russia something that would go like: “Come out and take it, you dirty, yellow-bellied rat, or I'll give it to you through the door!", a true Cagney tough guy (although the line is misquoted half the time by poor rate actors and imitators). No offence Mr. President. But anyhow, the scene would be perfect Hollywood action, and I’m sure a movie will hit the screens before the year is out. Maybe we could turn the whole world on its head and rather than having an actor that turns President of the US, we could have a President turn actor in Hollywood: “…and starring B. Obama in his very own role”.

The Snowden affair looks as if it will be keeping us interested for months to come as new revelations are made that he actually started downloading secret documents while he was working at Dell Inc. as far back as April 2012, which is a year prior to the date that he had officially announced. Although, one might well question the truth that comes from anyone these days. Is it true? Is it a lie? Is it what he did or is it what some would like to make us believe? Will the fact that he lied discredit him? Will the fact that he downloaded secret documents while working for Dell discredit the good that he might have been seen to do blowing the whistle on the state surveillance? There are too many subsidiary parameters and not enough calculations being made and the result is an unknown equation that even the best couldn’t fathom out right now.

It was in 2009 that Edward Snowden began working for Dell Inc. His contract ran until earlier this year, when he was transferred and assigned to the National Security Agency as a contractor in March, in the United States and also in Japan.

The information was revealed by an anonymous source that only spoke on that proviso. It was stated that while working at Dell Inc. Snowden downloaded information regarding the National Security Agency, the eavesdroppingand surveillance programs that they were running and left an electronic footprint after having accessed the files. He also downloaded information regarding fiber-optic cables, transoceanic cables and statistics regarding internet traffic and also related to communication over the internet.

The US government has announced ‘special measures’ that will be taken to stop unauthorized people from downloading documents to which they would normally have no access. What? You mean, Mr. President that that wasn’t done before? There seem to have been a whole string of events that have enabled Snowden to end up where he is today. But, they seem far too unlikely for them all to have happened in a chain that went off in reaction. Imagine the scenario: Snowden is employed by Dell, downloads documents, gets hired by the contractor to the NSA and accesses top-secret material without any vetting having taken place and no surveillance. Nice, but unlikely; or revealing of the failings of the NSA.

According to Reuters, Snowden seems to have written in 2010 on an internet forum called Ars Technica under the name ‘The True HooHA’. He wrote: “It really concerns me how little this sort of corporate behavior bothers those outside of technology circles” (regarding the technology companies and IT firms that provided the US government with information and allowed departments to access private data of individuals). He went on to state: “Society really seems to have developed an unquestioning obedience towards spooky types”.

Apparently, few have delved into Snowden’s stint at Dell Inc. and most concentration and focus has been on the contractor for whom Snowden was working while he was at the NSA: Booz Allen Hamilton Holding Corp. Although, perhaps if the NSA were spending less time listening into our own boring and anecdotal communications via Skype,Google and Facebook, they might be able to concentrate on the really good stuff. I think we should all sit down and apply the Tinkerbell Effect. Things only exist if we believe that they do, like the Fiat system and the value of money. It only has a value because we allow it to have, because we believe that it is valuable. If we all stop believing that the NSA is powerful, then they won’t exist anymore. Fairy magic! I can see the pixies running from the NSA right now.

 

NSA

We commonly call Snowden a whistleblower. But, was he really one? It seems doubtful since legally the definition of a whistleblower is one that reveals actions that are illegal by a body or a state and that are provided to the public. What Snowden did was reveal what was legally made possible by the US state in the name of security and in the fight against terrorism. He revealed nothing that was being done illegally by the country, only what was unknown by the public, but legal. Whistleblowing reveals corruption, wrong-doing, mismanagement and illegality. Snowden is no whistleblower.

But in the light of revelations also about the fact that the NSA kept hold of telephone conversations of 3, 000 US citizens from February 2012 (despite being ordered to destroy them) means that we have more information still to come on the NSA. Information that has been released shows today that the NSA audit mentions that there were 2, 776 violations of the code of conduct of the NSA. For example, if you dialed 020 for the US area code the computer system picked it up as +20 or the international dialing code for Egypt and your calls became immediately logged and recorded.

What was the objective of the revelation and what will be the effect on people today with regard to Edward Snowden? Does this mean that we shall see Snowden as a scheming ‘dirty rat’? Did he plan this long before and get taken on at the NSA in that objective? Or is that what some would have us believe? If it were true for one moment, then the first question that springs to mind is: why did the National Security Agency not manage to carry out adequate surveillance on Edward Snowden? The Prism program was listening in to everyone in the world and his wife. One thing is certain Edward Snowden has created a ‘true HooHA’.

But, was it impossible for the eavesdroppers to get hold of what Snowden was looking for? Rather dubious? Unquestioning obedience to spooky types!

 

 

Radioactive Water Leaking From Fukushima: Why Millions Of Lives Are At Stake

In lieu of the Japanese government doing the right thing and finally coming clean about the epic environmental catastrophe that is Fukushima, which it hopes to simply dig under the rug even as the inconvenient reality gets worse and thousands of tons of radioactive water make their way into the ocean, one is forced to rely on third-party sources for information on this tragedy. We present a useful primer from Scientific American on Fukushima "water retention" problem and "what you need to know about the radioactive water leaking from Japan’s Fukushima nuclear plant into the Pacific Ocean."

 

 

Internet Traffic Plunges By 40% As Google Goes Dark For Five Minutes

Want to throw the world into sheer panic and outright chaos? Then just take out Google. At least that is what a brief five minute outage of the world's favorite search engine on Friday night shows, when after all of Google's services were hit with unprecedented downtime from 3:52 pm until 3:57 pm Pacific Dauylight Time, some 40% of global internet traffic was lobbed off. According to Topsy analytics, tweets per minute skyrocketed around the point that Google went black, from an average of 200 tweets per minute about Google to more than 1,000. "For five freakin' minutes!" one Twitter user complained. Another wrote, "Google was down for five minutes… Is it a sign that the END OF THE WORLD has started?"

 

 

Hyperwhoops: California's "Other" Bullet Train Project On Verge Of Crashing And Burning

There was so much excitement generated last week over Elon Musk's hyperloop idea, that the world almost forgot that California already has a high-speed rail project in place. A very, very expensive project. And the problem with that particular $68 billion project, which is just as unrealistic, just as unprofitable, and just as hyper-pipedreamy, is that as the SacBee reports, is that it is on the verge of being shut down now that over 5 years since its launch someone actually did the math and found out that, oops, there is no money!

 

 

Michael Pettis On China's Urbanization Fallacy

The latest default bull argument supporting higher levels of growth in China than I believe possible is the urbanization argument. Beijing is planning another major urbanization push, and according to this argument China can resolve the problem of wasted investment by investing in the urbanization process, that is it can engage in a massive investment program related to the need to build infrastructure for all the newly urbanized. Like so many of the earlier bull arguments, however, this new belief that urbanization is the answer to China’s growth slowdown is based on at least one fallacy and probably more - urbanization accommodates, it doesn‘t cause, growth. It is not the act of building all this stuff that creates wealth or real, long-term growth. It is only if building the stuff caused overall productivity to rise by more than the cost of capital and labor employed in building it that a society gets richer.

 

 

What Corporations Spend Their Cash On

While bullish talking heads are quick to point out that corporate earnings have never been higher, they tend to get very quiet the second corporate cash flow generation is mentioned. The reason is simple: where non-GAAP earnings, much of which are vaporware such as exclusions and other adjustment involving addbacks for "non-recurring" events such as Cisco's now annual mass termination announcement are indeed at nosebleed levels, actual corporate cash generation is a shadow if its former self which peaked in 2007 and has never been retraced. The problem is that since corporations generate less cash, they also spend less cash. As the following chart confirms, corporate capital use which peaked at a little over $1.8 trillion in 2007 has yet to be surpassed.

 

 

Why Stock Prices Are More Stretched Than You Think: A Tale Of 3 P/E Multiples

 

The price-to-trend-earnings multiples also raise questions about the Federal Reserve’s long campaign to prop up asset prices through unconventional policies. The “wealth effects” sought by the Fed are mostly bringing forward gains that would have otherwise occurred in the future. They’re weakening tomorrow’s growth in return for a shot in the arm today. Of course, policymakers would like you to believe their actions are stabilizing. But the last two decades suggest otherwise. And the chart above reinforces the risk that we’re stuck in a Groundhog Day-like loop of living through the same boom-bust cycle over and over. It shows that the next policy-induced bust may be gradually coming into view.

 

 

Egypt Security Forces Fire On Mosque To End Siege

 

Overnight the (pre) civil war in Egypt took a turn for the worse when the local military conducted the political and religious equivalent of shooting inside a hornets' nest, or rather at the al-Fatah mosque off Ramses square, where up to a 1000 Muslim Brotherhood supporters of the deposed president had been barricaded. Subsequently,  security forces rounded up protesters inside and forcefully dragged them out. As the Telegraph videos below suggest, the sound of gunfire could be heard in the background. Egypt's official news agency MENA reported that gunmen opened fire on security forces from the mosque's minaret. Local television stations broadcast live footage of soldiers firing assault rifles at the minaret. It goes without saying that firing on religious protesters inside a sanctum of a mosque will hardly derail the country's flaming train ride straight into civil war, but it also begs the question: why is Egypt so intent on culminating with a civil war, split along religious lines, that will be the bloodiest in decades, involve over 80 million people and is sure to lead to unprecedented death and destruction. Cui bono, aside from the Fed's balance sheet, of course?

 

 

Gold Or Tungsten? Here's How To Know

We hope the Bundesbank, and certainly the German people, will be using one of these in the near-term (up to and including 2020) future.

 

 

 

The Only 'Chart' That Main Street Cares About

Presented with little comment aside to note that while every night we are told by how much the Dow closed green, many await the day the chart below flashes anything but red.

 

 

Friday Humor: The New Normal Miranda Rights

We can waste readers' time with the latest revelations about the NSA's espionage activities against Americans, highlighted fully in the following WaPo article "NSA broke privacy rules thousands of times per year, audit finds" whose title is sufficiently self-explanatory about how seriously the administration takes individual privacy, or we can just showcase the following cartoon which shows how the Miranda rights have been 'adjusted' for the New Normal...

 

 

Mursi Supporters Jump Off Bridge To Avoid Being Shot

 

Real or fake, you decide (and there are ample reasons to consider doctored imagery). For Reuters it was definitive enough to go straight to the front page.

 

 

China's "Childish" Bond Market Crosses Tipping Point

That China faces a number of serious economic (and potentially social) problems is no surprise and as Guggenheim's Scott Minerd notes, trying to predict when persistent structural problems will lead to a shock for markets is extremely difficult (as we noted here). However, from a symbiotic collapse in the previously 'virtuous' bond-market-to-banking-system relationship, to the drying up of easy credit for all but the largest (and least over-capacity) firms, it appears that China's private sector leverage has crossed the tipping point that signalled crises in the US, UK, Japan and South Korea. Although the recent data (believe it or not) show signs of a stabilization in the Chinese economy, the elevated debt burden should continue to cast doubt over its growth sustainability and the "childish" and non-transparent nature of China's bond market offers little or no hope for a free market solution.

 

 

Why Isn't There A Demonstrably Correct Economic Theory?

After 2000 years, why do we not know which economic theory is correct: Keynesian, Marxism, or Hayek-Friedman? Surely, there is a demonstrably, statistically correct answer. It appears not. Then why do we have cargo-cult faiths (Keynesianism) instead of demonstrably correct models of economic behavior.

 

 

No Joy In Hilsenratville: Stocks Have Worst Week Of 2013 With Bonds Massacred; Precious Metals Soar

The Hilsenrumor turned out to be a Hilsenstocktease, and with a closing that will leave many wondering "why hast he forsaken us" and ES going into the weekend at the lows, stocks end their worst week since November.

 

 

Hilsenrumor Strikes To Offset Damage From Gross Tweet

Just in case there is still some confusion about what passes for a "catalyst" in this market, moments ago just as the 10 Year was threatening to run away on its unmerry way to 3.00% and higher in the aftermath of the fatalistic tweet by Bill Gross, there promptly emerged, since it is 3pm on a Friday after all, a rumor that Hilsenrath was about to hit public on the latest NYFed plant handed to him in order to stabilize the market. Not in itself surprising: we have seen it a million times in the past, the only difference is that this time the target of the WSJ "intervention" would be the bond market, not stocks. Which is the saddest thing: while idiot stocks traditionally move on the dumbest of triggers, at least bonds had been immune from such stupidity. To see even the bond market succumb to the lowest of rumormonerging, is indeed a slap in the face.

 

Video Shows Fake Muslim Brotherhood “Protesters” Staging Deaths & Injuries

Infowars | A video shows Muslim Brotherhood protesters posing for a staged photo-op in which deaths and injuries are hoaxed.

 

New Evidence Princess Diana Was “Killed by a Member of the British Military” Being Investigated

Sky News | It was passed to the police by the parents-in-law of a former soldier.

 

Nanny Bloomberg Wants to Fingerprint More Than a Half Million New Yorkers

Kurt Nimmo | Many residents ready to send legendary control freak packing.

 

You Won’t BELIEVE What’s Going On with Government Spying on Americans

Washington’s Blog | New revelations are breaking every day.

 

NSA revelations of privacy breaches ‘the tip of the iceberg’ – Senate duo

London Guardian | Leading critics of NSA Ron Wyden and Mark Udall say ‘public deserves to know more about violations of secret court orders’.

 

Egyptian protester cut down in hail of gunfire after standing ground in front of enemy tank

NY Daily News | It was a scene straight out of Tiananmen Square.

 

Mursi Supporters Jump Off Bridge To Avoid Being Shot

Zero Hedge | Real or fake, you decide (and there are ample reasons to consider doctored imagery).

 

What Is Going To Happen If Interest Rates Continue To Rise Rapidly?

Michael Snyder | If you want to track how close we are to the next financial collapse, there is one number that you need to be watching above all others.

 

 

What Is Going To Happen If Interest Rates Continue To Rise Rapidly?

If you want to track how close we are to the next financial collapse, there is one number that you need to be watching above all others.  The number that I am talking about is the yield on 10 year U.S. Treasuries, because it affects thousands of other interest rates in our financial system.  When the yield on 10 year U.S. Treasuries goes up, that is bad for the U.S. economy because it pushes long-term interest rates up.  When interest rates rise, it constricts the flow of credit, and a healthy flow of credit is absolutely essential to the debt-based system that we live in.  Just imagine someone squeezing a tube that has water flowing through it.  The higher interest rates go, the more economic activity will be squeezed.  If interest rates continue to rise rapidly, it will be more expensive for the U.S. government to borrow money, it will be more expensive for state and local governments to borrow money, the housing market may crash again, consumer debt will become more expensive, junk bond investors will be in for a world of hurt, the stock market will experience a tremendous amount of pain and there is a good chance that we could see the 441 trillion dollar interest rate derivatives bubble implode.  And that is just for starters. (Read More....)

 

 

Egypt Is Descending Into Civil War, But Don’t Expect Obama To Cancel His Golf Vacation

The largest Islamic nation in the Middle East is on the verge of descending into civil war, the Syrian civil war is starting to spill over into Lebanon, and the worst violence in five years has just hit Iraq, but Barack Obama is way too busy to be bothered with any of that.  Right now, Obama is enjoying one of the true loves of his life - golf.  According to the Washington Post, Obama has "played 18 holes of golf every day but one this week", and without a doubt he appears to really be enjoying his time up in Martha's Vineyard.  I hear that it is absolutely beautiful up there this time of the year.  And apparently he needs the rest.  After all, prior to this vacation he has only had time to play 133 rounds of golf since becoming president.  Between snubbing world leaders and getting the U.S. economy going again, it must be really tough for Obama to find enough time to sharpen his game. (Read More....)

 

Christie Will Ease Kids' Access to Pot With Doctor Notes...
Armed vigilantes and police clash with Muslim Brotherhood in Cairo...

'Urban Warfare'...
At least 60 dead in new clashes...
Tourism faces meltdown...
Saudi king calls on Arabs to stand with Egypt...
Military promises to rebuild churches...

NSA broke privacy rules 'thousands of times'...
... Funds New 'Top Secret' Data Lab
NOONAN: What We Lose if We Give Up Privacy...

Head of MO NAACP Calls Clown Mask 'Hate Crime'...
FLASHBACK: Obama wore Obama mask on 'Saturday Night Live'...
NAACP ripped for demanding federal probe...

NAACP attacks Dartmouth students for throwing 'Crips and Bloods' frat party...

 

 

The Dartmouth College chapter of the National Association for the Advancement of Colored People (NAACP) harshly criticized a “Bloods and Crips” themed-party, despite apologies from the sorority and fraternity that hosted the event earlier this summer.

 

A fraternity and sorority at Dartmouth College have come under fire for hosting a Bloods-Crips themed party.

The strongly worded letter, penned by the NAACP chapter on campus, and signed by the Afro-American Society and the Dartmouth Chapter of the and Women of Color Collective, accuses the mostly white students of hosting a “racist” event thinly veiled by the South Los Angeles gangland theme.

“Our peers mingled for hours while dressed as bloods or Crips while using racialized language,” accused the letter, circulated on campus. “It then turned into a ‘ghetto party’ with racialized language, speech and dress. Over 200 individuals attended this racist and classist event.”

The letter went on to urge students to report the event to the Dartmouth administration “as a bias incident” using an included hyperlink.

"We are asking everyone to flood the bias incident account with our call for justice, right now,” reads the email. “[O]rganizations across campus will be mobilizing for further steps. Reporting with the above link is our first step toward meaningful changes.”

That link leads to the college’s bias incident reporting page which promises to direct all complaints to the the Office of Pluralism and Leadership, and the office of Safety and Security.

According to a popular Dartmouth blog, the Dartblog, however, the NAACP’s letter came after apology letters from both the sorority and fraternity that hosted the event.

“The idea was never meant to be derogatory to any group, and was intended to introduce a costume theme to the party,” wrote the fraternity, Alpha Delta. We “now realize that it was insensitive and thoughtless to make light of a very serious issue.”

The Tri Delta sorority also emailed an apology to Dartblog pledging to “continue to educate our members regarding cultural sensitivity and awareness.”

The NAACP did not not acknowledge either apology in its letter, but demanded that Dartmouth administrators take action against those who had planned the party.

“The College has yet to deliver consequences to the aforementioned organizations, so we have to declare their lack of response as not only unacceptable but as disregard for our experiences,” read the letter.

Neither Dartmouth College, the NAACP, or Alpha Delta returned Campus Reform’s requests for comment.

Administrators at the school, however, released a statement suggesting an investigation has been launched into the incident.

“Dartmouth is continuing to gather information about the scope and nature of the event and will follow its standard process to review and determine whether any violations of College policy have occurred,” it said, according to the Huffington Post.

Follow the author of this article on Twitter: @kctimpf

 

 

 

 

The Only 'Chart' That Main Street Cares About

Presented with little comment aside to note that while every night we are told by how much the Dow closed green, many await the day the chart below flashes anything but red.

 

 

Mursi Supporters Jump From Bridge To Avoid Being Shot

 

Real or fake, you decide (and there are ample reasons to consider doctored imagery). For Reuters it was definitive enough to go straight to the front page.

 

 

China's "Childish" Bond Market Crosses Tipping Point

That China faces a number of serious economic (and potentially social) problems is no surprise and as Guggenheim's Scott Minerd notes, trying to predict when persistent structural problems will lead to a shock for markets is extremely difficult (as we noted here). However, from a symbiotic collapse in the previously 'virtuous' bond-market-to-banking-system relationship, to the drying up of easy credit for all but the largest (and least over-capacity) firms, it appears that China's private sector leverage has crossed the tipping point that signalled crises in the US, UK, Japan and South Korea. Although the recent data (believe it or not) show signs of a stabilization in the Chinese economy, the elevated debt burden should continue to cast doubt over its growth sustainability and the "childish" and non-transparent nature of China's bond market offers little or no hope for a free market solution.

 

 

Why Isn't There A Demonstrably Correct Economic Theory?

After 2000 years, why do we not know which economic theory is correct: Keynesian, Marxism, or Hayek-Friedman? Surely, there is a demonstrably, statistically correct answer. It appears not. Then why do we have cargo-cult faiths (Keynesianism) instead of demonstrably correct models of economic behavior.

 

 

No Joy In Hilsenratville: Stocks Have Worst Week Of 2013 With Bonds Massacred; Precious Metals Soar

The Hilsenrumor turned out to be a Hilsenstocktease, and with a closing that will leave many wondering "why hast he forsaken us" and ES going into the weekend at the lows, stocks end their worst week since November.

 

 

Friday Humor: The New Normal Miranda Rights

We can waste readers' time with the latest revelations about the NSA's espionage activities against Americans, highlighted fully in the following WaPo article "NSA broke privacy rules thousands of times per year, audit finds" whose title is sufficiently self-explanatory about how seriously the administration takes individual privacy, or we can just showcase the following cartoon which shows how the Miranda rights have been 'adjusted' for the New Normal...

 

 

Hilsenrumor Strikes To Offset Damage From Gross Tweet

Just in case there is still some confusion about what passes for a "catalyst" in this market, moments ago just as the 10 Year was threatening to run away on its unmerry way to 3.00% and higher in the aftermath of the fatalistic tweet by Bill Gross, there promptly emerged, since it is 3pm on a Friday after all, a rumor that Hilsenrath was about to hit public on the latest NYFed plant handed to him in order to stabilize the market. Not in itself surprising: we have seen it a million times in the past, the only difference is that this time the target of the WSJ "intervention" would be the bond market, not stocks. Which is the saddest thing: while idiot stocks traditionally move on the dumbest of triggers, at least bonds had been immune from such stupidity. To see even the bond market succumb to the lowest of rumormonerging, is indeed a slap in the face.

 

 

"It’s The Law"

John Adams famously described the American government as being “of laws and not men.” The managerial state has wiped clean that wisdom in favor of countless and arbitrary dictates enforced by worthless bodies. The narcolepsy-inducing USA Today recently reported the Federal Bureau of Investigation granted informants immunity to break government law in certain circumstances. Newly disclosed documents reveal that thousands of so-dubbed “crimes” were committed in 2011 by the FBI’s pet players. The misdeeds include drug trafficking, plotting robberies, and bribery. Last year, the New York Times published a damning report on how the good-natured agents of Washington’s infamous law investigator work tirelessly at foiling terrorist plots they go to great lengths at concocting. These faux plots of destruction are used to beef up the reputation of the agency so as to solidify its monopoly of police power.  The selective enforcement of law negates the very purpose of social order. How can there be a universally recognized limits to mankind’s behavior if a minority are permitted to disregard governing laws? The result is a contradiction – either the law applies everywhere or it does not.

 

 

What A Difference A Decade Makes

 

With the latest hope-mongering rumor du jour that the beleaguered handheld device maker Blackberry will be LBO'd (or seek 'strategic partnerships'), we couldn't help but recall the proceedings of the previous decades' best known handheld device maker - Palm. As Needham's Charlie Wolf warns, "I saw what happened with Palm 3 years ago [HP's take-under] - the stories are very similar," as it appears the patents are what counts for BBRY.

 

 

Larry Summers' Fed Chair Odds Surge Again, Cross 70%; Yellen In The Dust

Guess what comes next in the numbered sequence: 30.0%, 60.0%, 66.666%? If you said 71.4%, or 2/5, which just happens to be Larry Summers' latest Fed Chairmanship odds according to Paddy Power, you are correct. Janet Yellen, who was once a 1/3 favorite has now plunged to just 7/4 or about 30% odds. And while Bill Gross' tweet certainly moved the market, perhaps a far greater concern to longs everywhere (of both bonds and stocks) is the realization that with every passing day Larry Summers gets closer to becoming the next Fed chairman.

 

 

The Real Tapir Tantrum

Bonds are being sold off as concerns about the Fed's taper (aka the Zero Hedge-penned in May "Taper Tantrum") propagate through the bond market, and as Bill Gross reminds everyone of what a non-centrally planned, and Fed-backstopped, market may one day look like (nothing good). But today's action is nothing compared to what a real tapir tantrum looks like as one unluckly child and its mother were forced to find out.

 

 

Bill Gross Tweets: "Without Central Bank Check Writing, We Only Have Ourselves To Sell To" Sends Yields Soaring

 

 

Selling Spurt Takes 10 Year Treasury Yield To Fresh Two Year High

 

There is one problem with the Fed's plan that bond yields will progress ever higher in calm, cool and collected fashion from here to 3%, 4%, 5% and onward: it assumes that those who don't sell today, will patiently await turn to sell (with much bigger) losses tomorrow. Of course, what happens instead is that everyone will try to sell today, to avoid any losses tomorrow. What results, are spikes such as the one seen on the chart below, which just took the 10 Year yield to a fresh 2 year high of 2.8269% and rising. But perhaps most important, there are now just under 70 bps until the 3.50% "disorderly rotation" threshold beyond which bad things start happening.

 

 

Compare And Contrast: Public Vs Private Retiree Underfunding In One Chart

The chart below explains, in the simplest possible terms, why there are many more "Detroits" on deck. It shows the underfunded status of public vs private retiree healthcare plans. It needs no commentary, although it may deserve one question: what happens when all those public servants who have been promised over a trillion in healthcare benefits upon retirement, realize it was all a lie? And then come... the pensions.

 

 

Saudi King Voices Supports For Egyptian Coup

Somehow it is not very surprising that the person who should be most concerned should the Egyptian (non) coup spread, namely the head of the House of Saud, is the one to condemn the previous US-supported regime, and to voice his praises for the current US-supported regime.

 

 

Wis. Police Arrest Journalist, Teen and Three Grannies During Capitol Sing Along

Julie Wilson | Arrested 14-year old says, “I have a right to peacefully protest my government.”

 

FBI Admits It Has Documents On Michael Hastings

Paul Joseph Watson | Federal agency initially denied it had investigated Rolling Stone journalist.

 

U.S. Army Buys Nearly 600,000 Soviet AK-47 Magazines

Kit Daniels | Each fully loaded, magazines combined hold almost 18,000,000 rounds.

 

Houston Deputy Sues Woman Who Dialed 9-1-1

Julie Wilson | Houston deputy sues 9-1-1 caller for $200,000.

 

Ron Paul Dismantles Corporate Boondoggle Known as Obamacare

Kurt Nimmo | Brainchild of the insurance and pharmaceutical industries.

 

Assange: Rand Paul Libertarians “Only Hope” For Future of America

Paul Joseph Watson | Wikileaks founder also praises Matt Drudge for ‘breaking media censorship’.

 

NSA Funds New “Top Secret” $60 Million Dollar Data Lab

Paul Joseph Watson | Center will analyze information from private emails, cell phone calls, Google searches.

 

Egypt Is Descending Into Civil War, But Don’t Expect Obama To Cancel His Golf Vacation

Michael Snyder | The largest Islamic nation in the Middle East is on the verge of descending into civil war.

 

Larry Summers’ Fed Chair Odds Surge Again, Cross 70%; Yellen In The Dust

zerohedge.com | Larry Summers’ latest Fed Chairmanship odds.

 

Stock Market Crash Just Ahead?

Lew Rockwell.com | Central bank manipulation are fueling recessions.

 

Ron Paul Dismantles Corporate Boondoggle Known as Obamacare

Kurt Nimmo | Brainchild of the insurance and pharmaceutical industries.

Record High Demand For Physical Gold Threatens To Break The Back Of The Paper Gold Market

The demand for physical gold is exploding all over the world, and bullion banks are now experiencing a supply crunch that is absolutely unprecedented.  As physical demand continues to rise, the massive Ponzi scheme that the bullion banks have been engaged in is going to become increasingly obvious, and at some point the lack of physical gold is going to break the back of the paper gold market and we are going to see the price of gold go to levels that we have never seen before.  You see, the truth is that the central banks of the world and the bullion banks have made “paper promises” that vastly exceed the amount of actual physical gold in existence.  This kind of scheme works fine if everyone does not come asking for their gold at the same time.  Unfortunately for the ones running this scheme, people are now starting to ask for their gold back and it is causing huge problems. (Read More.....)

 

 

 

 

 

 

AS THE NYT TURNS


PAPER TAKES DOWN CLINTON FOUNDATION...
'Ran multimillion-dollar deficits, despite vast amounts of money flowing in'...
Rife with Cronyism...


DC Obamacare Exchange Awards $375K Grant to PLANNED PARENTHOOD...
NBCNEWS: Businesses, Unions, Colleges all say employee hours being cut...

 

JESSE JACKSON JR, WIFE OFF TO JAIL...

 

 

 

Alex Jones Responds to MSNBC’s Defamation

Kurt Nimmo | Segment aired on Wednesday, August 14, 2013, and carried a number of unsubstantiated claims.

‘…Following MSNBC’s propaganda piece, Alex issued the following statement:

“No one should feel safe in this climate. The establishment media can put out whatever lie they want and the Republican Party, represented on Wagner’s show by Michael Steele, will just agree with it because it shows the establishment itself is threatened by the awakening that is happening. They’ve identified Infowars.com and the journalistic system we’re building as a major threat. That’s what the MSNBC segment is — a premeditated attack. Anyone who supports freedom of the press needs to get behind Infowars.com and other alternative media under attack, like investigative journalist Glenn Greenwald, whistleblower Edward Snowden, and so many others. This is exactly how countries fall to authoritarianism, because if they can intimidate us, shut us down and defame us, they can defame anybody. If you care about freedom, remember this quote from German pastor Martin Niemöller, who resisted the Nazis:

First they came for the communists,
and I didn’t speak out because I wasn’t a communist.

Then they came for the socialists,
and I didn’t speak out because I wasn’t a socialist.

Then they came for the trade unionists,
and I didn’t speak out because I wasn’t a trade unionist.

Then they came for the Jews,
and I didn’t speak out because I wasn’t a Jew.

Then they came for the Catholics,
and I didn’t speak out because I wasn’t a Catholic.

Then they came for me,
and there was no one left to speak for me.”

Alex then addressed defamation of character:

“This meets the precise definition of willful, conscious defamation with malice of forethought with intent to do harm. I have sued people before for defamation successfully. I don’t like to do this, but clearly, if I don’t respond to this they will make up even more outrageous stuff… will I be a child molester tomorrow? Will they say I’m the bomber? They’re already saying I made people bomb stuff and I’m deeply racist without showing a shred of proof. This is outrageous authoritarianism. So, I am putting them on notice. I want massive retractions right now. This is your tort warning. You are now on notice. Do you guys think you’re invincible because you have the White House behind you? Richard Nixon thought he was invincible, too. The American people are going to stand up against this intimidation against the press.”

 

 

 

MSNBC Blames Boston Bombing on “Deeply Racist” Alex Jones

Paul Joseph Watson | Claims Tsarnaev brothers inspired by talk show host, who is “getting paid to be racist”.

 

US Sends Warship to Bahrain In Response to Protests

Paul Joseph Watson | Washington will not tolerate “Arab Spring” that threatens puppet dictatorship.

 

Rubio: Obama May Sign Executive Order Legalizing Illegals

Kurt Nimmo | “I believe that this president will be tempted, if nothing happens in Congress,” said Florida senator.

 

Rand Paul: Obama’s Actions On Healthcare Legislation Are “Illegal And Unconstitutional”

Steve Watson | “He’s creating an economic incentive for people to actually drop their insurance.”

 

Teenager Denied Heart Transplant Over History of “Non-Compliance,” Added to Wait List

Julie Wilson | “Low grades in school” and “brushes with the law” initially kept teenager off heart transplant list.

 

NAACP Attacks Rodeo Stunt and Political Satire

Kurt Nimmo | Rodeo clown furor tyrannical attack as NAACP calls to criminalize free speech.

 

MIT: Future Smartphones Will ‘Listen to Everything All the Time’

Paul Joseph Watson | Ubiquitous surveillance to “detect your moods,” “pinpoint the sources of your stress,” and “present relevant information”.

 

Blunder at the Money Factory: Feds misprint $3 billion in $100 bills, Taypayers Foot Bill To Replace

New Yorker | Disposing of the bad bills? That’s on taxpayers… as are the additional hours spent making up for the mistake.

 

This Is The Biggest Cluster Of Hindenburg Omens Since The Last Stock Market Crash

Economic Collapse | Are we heading for a major stock market decline?

 

They Are Systematically Destroying Our Independence And Making Us All Serfs Of The State

Economic Collapse | The percentage of Americans that are economically independent has dropped to a stunningly low level.

 

 

Intelligence committee urged to explain if they withheld crucial NSA document

London Guardian | Critics demands answers from chairman Mike Rogers after claims that committee failed to share document before key vote

 

John Kerry: ‘This Little Thing Called the Internet … Makes It Much Harder to Govern’

CNS News | He also said that “ever since the end of the Cold War, forces have been unleashed that were tamped down for centuries by dictators.”

 

Black Citizens Group Files ‘Articles of Impeachment’ Against Obama

Paul Joseph Watson | Calls for removal of President over NSA spying, prosecution of whistleblowers, Benghazi cover-up.

 

 

 

 

I've Got Nothing to Hide Posted by : Capitalist Exploits Post date: 08/13/2013 - Regardless of what I (or you) do throughout the day we're tracked, logged, profiled and otherwise "identified" in a hundred different ways.

Obama: Worst President in History of the USA? Posted by: Pivotfarm Post date: 08/13/2013 - So is President Obama the worst President in history?

 

 

Letting Tepco "Clean Up" Fukushima Is Like Letting a Murderer Do Brain Surgery On a VIP Posted by : George Washington Post date: 08/14/2013 - In 3 Months, Do We Want to Entrust  U.S. "National Security" and Perhaps Even "Human Survival” In the Northern Hemisphere to THESE Guys?

GoOGLe PoRN... Posted by: williambanzai7 Post date: 08/14/2013 - Just think of the Goldfish who wanted to die...

GoOGLe PoRN...

 

 

 

.


.

h/t @blumaberlin

 

 

 

WTF!

.

 

Can I rape you?

.

 

All Search with no Porn, makes Jack a dull boy...

.

 

Pitiful Net Serflings...

.

 

I would be concerned too if I weren't in the government...

.

.

 

Is it safe?

 

Bwahahahahahahaha!

.

 

Honey, you'll have to sleep in the Wookie House tonight...

.

 

Boom Booooooom!

.

.

 

 

 

 

Four More Years?

Presented with no comment...

 

 

The "Obamacare Part-Time Jobs" Effect Goes Mainstream

 

While many Wall Street economists and strategists shrugged in the face of tin-foil-hat-wearing bloggers who suggested the disaster that is the part-time jobs receovery was due to The Affordable Care Act - of 953,000 jobs created In 2013, 77%, or 731,000 are part-time - epitomized best by Larry Kudlow and Deutsche Bank's ever-smiling Joe Lavorgna; it seems the drag on employers' hiring has now hit the mainstream media. As NBC Nightly News reports in this succinct clip, things are not going according to plan for the President's better bargain even as Fed's Bullard proclaims "clear improvement in labor markets." Perhaps he should watch TV this evening?

 

 

 

 

 

Housing Bubble Bungle Posted by : Pivotfarm Post date: 08/15/2013 - The housing market. It would be the done-thing normally to imagine that one might learn from mistakes that have been made in the past; and not only learn from them, but make sure that they don’t...

Physical Gold Demand Surges 53% In Q2, Total Supply Down 6% - Price Falls 35% Posted by: GoldCore Post date: 08/15/2013 - The latest World Gold Council Gold Demand Trends report, which covers the period April-June 2013, confirms again how recent falls in the gold price were due to speculators selling paper gold...

RoDeO CLoWN GuLaG? Posted by: williambanzai7 Post date: 08/15/2013 - Who woulda' thought? I know who...

 

RoDeO CLoWN GuLaG?




 

Rodeo Clown Gulag?

Who woulda' thought?

I know who...

Read George Orwell's letter on why he wrote 1984 via the Daily Beast: http://www.thedailybeast.com/articles/2013/08/12/george-orwell-s-letter-...

 

 

 

Two Down, One To Go

We have the equity market surging to new highs. We now have the surge in yields. As Citi's FX Technicals group warn, that's "2 down and 1 to go"… A push above the 2011-2012 peaks in Brent crude ($127-128.40) would be the “straw” that breaks the proverbial camel’s back with the elevated likelihood of a negative feedback loop... knocking the third leg of consumer confidence out.

 

 

A Stunning 60% Of All Home Purchases Are "Cash Only" - A 200% Jump In Five Years

Remember when housing was the primary aspirational asset for a still existent US middle class, to be purchased with some equity down by your average 30 year-old hoping to start a family in his or her brand new home, and, as the name implies, aspire to reach the American dream? Those days are long gone. Back in those days the interest rate on the 10 Year bond mattered as it determined the prevailing marginal affordability of leveraged real estate. That is no longer the case, at least not for about 90% of Americans, because as Goldman shows, while before the great crisis only 20% of home purchases were "all cash", since then the number has soared threefold, and currently the estimated percentage of cash transactions (by count and amount) has hit a record 60%. In other words, less than half of all home purchases are debt-funded, and thus less than half of all home purchases are actually representative of what middle-class America is doing.

 

 

Equity Bulls, Look Away

It seems to us that the corporate bond market (now absent the underpinning of a dominating retail technical flow) has reverted back to the macro background reality.... the question is - what happens when the equity market 'admits' that perhaps things are not so rosy...

 

 

Stocks, Dollar Plunge While Precious Metals Surge

 

Equity markets saw their highest volume in 7 weeks as the major indices plunged the most since June 20th, falling back to their lowest level in 5 weeks. 380 new 52-week lows dominated the meager 18 new 52-week highs. The early snap higher in Treasury yields (following the claims data) sparked the 'disorderly rotation' out of stocks that we have warned of and as stocks saw no significant BTFD mentality so Treasuries went modestly bid (ending the day only 5bps higher in yield) with the belly (7Y) 8bps off its intraday high yields. The USD was smashed lower as JPY and EUR strength dominated flow (and carry-unwind) which further helped push the story of the day - gold and silver - up large on the day (+2.1% and 5.6% respectively on the day). VIX surged to 14.5%, credit underperformed, as the Dow broke its 50DMA (15,280) closing near its 100DMA (15,097). Nikkei futures are -530 From yesterday's highs

 

 

 

Reaching For Yield... In Treasuries?

 

For the last 18 months we have been inundated with asset-gatherers explaining that stocks are cheap and investors should by them for they yield advantage over Treasuries. However, that 'meme', like most others once it disagrees with the "Always Be Buying Stocks" thesis, has been ignored recently. At current levels, 10Y US Treasuries offer a 70bps yield advantage over the S&P 500 - the highest in 2 years (that is a 32% yield advantage over 'the most levered equity market ever'). Tapering 'rock' meet 'leverage-unwind' hard place...

 

 

US Naval Update: There's A Party In The Middle-East And All The Sailors Are Invited

The last time there were two aircraft carriers and one more more amphibious groups in the 5th Fleet Area of Responsibility (i.e., the Middle East), an Israeli invasion of Iran seemed imminent. This time, Iran is deeply on the backburner, however Egypt, Syria, Lebanon and others certainly are front and center. So how are key US naval assets positioned this time around? As the Stratfor graphic below shows, the US is currently fully prepared for any "surprises" that may happen in the immediate and not so immediate future.

 

 

Gold - You Are Here

It would seem the demand for physical gold and the apparent limit on paper-gold decompression (given recent musical chairs in COMEX and Gold ETF holdings rising) are hitting at an inopportune time for the confidence-inspiring central banks of the world... Seasonally (for 30 years), August has marked the cylical low.

 

 

Thursday Humor: President Obama In Action

Earlier today, while looking for a certain picture of president Obama, we used the Google Images function searching for Obama Golfing Pics. We had no idea what Pandora's box we were about to unleash...

 

 

Spot The "Low Volume" Sell-off Day

 

Unlike the supposed reality that is being broadcast on mainstream media TV, today's volume is considerably above average. In fact, S&P 500 futures have traded 1.8 million contracts against a recent average of 1.125 million for this time of day. The S&P 500 has already traded its highest volume in 7 weeks (and there remains 90 minutes until the cash close). So - where is the low volume that CNBC seems to be seeing?

 

 

14 Dead In Blast Near Pro-Syria Hezbollah HQ In Beirut, Syrian Rebels Take Responsibility

Just in case the borderline civil war in Egypt isn't enough to inflame hostilities in the middle east region sufficiently so the US finally gets involved, the US-funded, Al-Qaeda backed Syrian rebels decided to launch a second escalation offensive, this time near the very headquarters of the pro-Damascus Shiite group Hezbollah when a powerful car bomb killed at least 14 people and wounded about 200 others, national news agency NNA said. AFP reports that a previously unknown group believed to be a Syrian rebel cell said it carried out the attack. The bombing, reminiscent of the frequent attacks during Lebanon's 1975-1990 civil war, caused enormous damage to buildings. Whether this provocation (US funded or not) will be sufficient to force a Lebanon escalation in the Syrian conflict is unknown, but there is only so much more that the region, already at its breaking point, can take.

 

 

Guest Post: Rising Inequality and Poverty: Can They Be Fixed?

Conventional Left-Right ideologies shed little light on the structural causes of inequality or systemic solutions to poverty.

 

 

Gold Soars Above $1350 As Silver Crosses 100 DMA

The reason why gold just did an upward spike move of the type not seen since the summer of 2011, when it exploded higher by $20 in seconds, is clear - as we noted yesterday, JPM is now actively buying up gold in the market to meet delivery demands. That, and countless stops getting hit, helps. But the most important factor: Paulson, Soros et al finally got out of the yellow metal. That meant there is only upside as the latent selling overhand is gone. As for silver: why not...

 

 

Fidelity Asks How Long Can Draghi's Bond-Buying Bluff Hold?

Draghi is a clever man in charge of a pretend central bank (for it’s only equipped to fight inflation, not a banking-turned-sovereign-debt-and-unemployment crisis). He must guess that bond investors will soon figure out that a stateless central bank defending a stateless currency is so hamstrung politically that it carries far less firepower than, say, the Federal Reserve has over the US economy and US dollar. If his outright-monetary-transactions bluff collapses, he may well have other tricks ready to suppress yields on struggling sovereign debt and save the euro (without which there is no need for the ECB). If Draghi is out of surprises, he can be thanked for buying time for politicians to come up with durable solutions to the eurozone’s woes. Oh, that’s another flaw with Draghi’s scheme; it removed the pressure for politicians to act. So they haven’t.

 

 

Icahn Twitter Shots Fired (At Ackman, Of Course)

 

 

As Goes Wal-Mart; So Goes America...?

 

While the 'people of Wal-Mart' may reflect the people of America, we hope - based on the chart below - that the growth in Wal-Mart does not reflect the growth of America...

 

 

DEATH TOLL SURPASSES 600
Islamic group vows to bring down 'military coup' in Egypt...
Anger 'is beyond control now'...
Supporters storm gov't buildings, set on fire...
Military authorizes use of live fire on protesters...
'Scores' of Christian churches, homes torched...
Warning issued to tourists...

WIRE: Snowden downloaded NSA secrets while working for DELL...

LEVIN: FEDS MUST BE STOPPED BEFORE AMERICA IS LOST!

FBI raids Philadelphia Sheriff's Office...

 

 

 

If This Guy Is What The Future Of America Looks Like, We Are In BIG Trouble

Should taxpayer dollars be used to buy sushi and lobster for a young man whose future plans consist entirely of surfing and partying as much as he possibly can?  When I first saw the video that I am about to share with you, I was absolutely floored.  Recently, Fox News interviewed a self-described beach bum named Jason Greenslate who was very open about the fact that he has no problem sponging off of all the rest of us.  When he was asked if he ever had any interest in actually getting a job, his response was "not whatsoever".  Instead, he says that his job is to "make sure the sun's up and the girls are out" and he would rather spend his days partying.  Of course every American should be free to live their own lives as they see fit, but the problem is that Jason Greenslate is using food stamps to help support his lifestyle.  In fact, he took Fox News into the gourmet section of a local supermarket where he purchased sushi and lobster with his EBT card.  Sadly, he is just like millions of other young men in America today that seemingly have had the drive to succeed and to be independent totally sucked out of them.  But what is the future of America going to look like if we continue to produce millions upon millions of young men that have absolutely no desire to make a living, get married and start a family? (Read More....)

 

Cyber Attack Against Establishment Media Next Phase in Never Ending War On Terror

Kurt Nimmo | Ramped up propaganda effort to get you to love NSA surveillance.

 

SWAT Ties Up Students, Blows Out Tires During Bus Hijacking Drill

Julie Wilson | “Then he started tying everybody down and it just got really scary.”

 

Google Submits Patent For Minority Report Style Eye Tracking Device

Steve Watson | “Head mounted” technology will relay “emotional analytics” to advertisers.

 

Video: Obama Backed Militants Execute Teenage Boys

Paul Joseph Watson | Another grisly reminder that the White House is supporting jihadist extremists in Syria.

 

MSNBC Blames Boston Bombing on “Deeply Racist” Alex Jones

Paul Joseph Watson | Claims Tsarnaev brothers inspired by talk show host, who is “getting paid to be racist”.

 

Marine Corps Colonel: Homeland Security Building “Domestic Army”

Paul Joseph Watson | Fallujah veteran says government is afraid of its own citizens.

 

Alex Jones Responds to MSNBC’s Defamation

Kurt Nimmo | Segment aired on Wednesday, August 14, 2013, and carried a number of unsubstantiated claims.

 

MSNBC Attempts to Connect Hate Groups to Alex Jones

Julie Wilson | Hate groups rise because whites are no longer “geographically dominating.”

 

Obama’s Economic Approval Slips to 35%

Gallup | Approval slips even further from 42% from June.

 

Stocks and Bonds Are Plunging

Wall Street Journal | Dow Jones sheds 205 points.

 

If This Guy Is What The Future Of America Looks Like, We Are In BIG Trouble

Economic Collapse | Should taxpayer dollars be used to buy sushi and lobster for a young man whose future plans consist entirely of surfing and partying as much as he possibly can?

 

Ex-bosses at JPMorgan unlikely to face charges in ‘Whale’ scandal

Reuters | The JPMorgan Chase & Co executives who supervised the traders at the center of the “London Whale” scandal are unlikely to face any charges.



US oil reserves reach highest level in 28 years

Washington Examiner | The highest level since 1985.



The “Obamacare Part-Time Jobs” Effect Goes Mainstream

Zero Hedge | Of 953,000 jobs created In 2013, 77%, or 731,000 are part-time.



Beck Warns Of Mass Chaos: “The Likes of Which the Globe Has Never Seen”

Mac Slavo | There will come a time this decade when everything that we have come to believe about the stability of our socio-economics system will be revealed for the underlying disaster that it really is.

 

 

NBC’s ‘Meet the Press’ Sees Lowest Ratings in 21 years

Huffington Post | The New York Post promptly reported that Gregory could be dropped from the show.

 

SWAT Ties Up Students, Blows Out Tires During Bus Hijacking Drill

Julie Wilson | “Then he started tying everybody down and it just got really scary.”

 

Google Submits Patent For Minority Report Style Eye Tracking Device

Steve Watson | “Head mounted” technology will relay “emotional analytics” to advertisers.

 

Marine Corps Colonel: Homeland Security Building “Domestic Army”

Paul Joseph Watson | Fallujah veteran says government is afraid of its own citizens.

 

Video: Obama Backed Militants Execute Teenage Boys

Paul Joseph Watson | Another grisly reminder that the White House is supporting jihadist extremists in Syria.

 

MSNBC Attempts to Connect Hate Groups to Alex Jones

Julie Wilson | Hate groups rise because whites are no longer “geographically dominating.”

 

NSA Targets T-Shirt Makers Over Parody Designs

Paul Joseph Watson | Federal agency launches aggressive copyright claims to shut down free speech.

 

Citizens Alarmed as Militarized Cops Invade Missouri Neighborhood

Kurt Nimmo | “The army’s here,” frantic woman tells her husband.

 

As Egypt Burns, Obama “Strongly Condemns” Violence From Martha’s Vineyard Vacation House

Zero Hedge | Those damn Egyptians are so inconsiderate, breaking out in civil war just as Obama is on vacation.

 

City Reduces Police Force By Placing Public Under Constant Surveillance

Kit Daniels | In 40-foot high watch towers, police officers are practically prison guards over population.

 

 

Pictures From A Warzone (In Denial)

With the US denouncing actions left, right, and center, it is tough to know what they stand for (or against) as the coup-less coup appears to have turned into a bloody civil war. Casualty reports vary; from 278 people dead (health ministry) to 2,000 dead (Muslim Brotherhood) including 43 policemen and from 2,001 injured (health ministry) to 10,000 (Muslim Brotherhood). As the dreadful images below suggest, the Egyptian people have grown divided beyond the point of no return, and despite the jingoist platitudes and rhetoric of John Kerry describing the "deplorable" situation on the ground, the reality of a civil war now seem inevitable. So with the US still stuck in denial (and for the CIA - phonetically so), pro-Mursi protesters clash with police, military, and one another as all hell breaks loose.

 

 

What Will Future Historians Think Of Our Time?

Today, we believe, we are a bit more enlightened that those in the past. Humanity has progressed, and we can look back on those days with utter incredulity wondering how anyone could have possibly believed such nonsense... how anyone could pass off such ridiculous assertions as real science. Well guess what... in the future, they’ll probably look back and say the same thing about us. Only this time, our ‘faux science’ is economics.

 

 

Wednesday Humor: Kevin Henry, Moonlighter?

 

 

Citi's Silver (Lining) Playbook

With Silver's strong recent run, Citi FX Technicals suggest the present technical set up is now starting to look very constructive. At the same time, they add, Gold is also starting to move higher; and trending moves in the precious metals (up or down) tend to be led by the Silver price and the Gold/Silver ratio remains supportive of that view again. Given that they remain cautious near term about the fortunes of the US Dollar, all of the above would suggest, Citi concludes, that the "playbook" is to be long Silver against the USD.

 

 

CSCO Crashes 10% After-Hours, Laying Off 4000 Staff, Sees Weak Q4

 

It seems like it was just yesterday when CSCO announced it would fire 10,000 people. And then another 1,300. And then another 500. Fast forward to today when the "one-time, non-recurring" termination charges are back, as the "recovery", now in its 5th year, progresses a little differently than expected, this time with another 4,000 FTE told to pack their bags.

CISCO TO CUT 4,000 JOBS OR 5% OF WORKFORCE
CISCO SAYS IT REMAINS 'VERY MUCH A COMPANY ON THE OFFENSIVE'

Nobody can blame the company, however: why keep full-time workers, when switching over to part-timers will do just as fine, and generate significant benefits to the bottom line and shareholders.

 

 

US Consumer Bankruptcies Jump By Most In Three Years; Third-Party Collections At All Time High

Something funny happened on the road to the epic consumer balance sheet cleansing and subsequent releveraging (without which there can be no actual non-Fed sugar high fueled recovery): the second quarter. And specifically, as the Fed just disclosed in its quarterly Household Debt and Credit Report, the number of consumer bankruptcies during the second quarter, just jumped by 71K, to 380K from 309K in Q1, the biggest quarterly jump in precisely three years - on both an absolute and relative basis - and the most since the 158K jump recorded in Q2 2010. It appears that when the "releveraging" US consumer isn't busy buying stuff on credit, they are just as busy filing for bankruptcy. Healthy consumer-led recovery and all that.

 

 

 

 

Follow ZeroHedge in Real-Time on FinancialJuice

There’s an Obama Page on Facebook that has over 131, 000 likes from people, Americans or not. There are more than double that number of people that are ‘talking about’ the page by posting it on their own walls. A fan page (of sorts) dedicated to the President of the United States. But, not your normal fan page. It’s the ‘Obama is the Worst President Ever’ page.

By the time President Obama steps down from office, the USA will more than likely not be anything more than a shadow of its former self. That won’t be all due to the doing of President Obama, but the Chinese rise to glory as thefirst country in the world economically-speaking by the year 2016, amongst other things of course (it’s not all the fault of the Chinese either, is it?).

So is President Obama the worst President in history? Does he really live up to his fan (?) page on Facebook? How do you measure whether or not he is the worst, at any rate?

 

Obama: Worst US President?

Obama said in 2009 ‘the recession is over’, but few believed him. Anyhow, when he said that the US was doing ‘better’ at the time than ‘the worst of the recession’, that couldn’t have been hard, could it? By definition, recoveries are always better than the worst of the recessions that we have gone through in history. Isn’t that the way they always work? But, it’s not the recovery in comparison with the recession that should be compared, it’s the recovery and the boom-times after those historical recessions that need comparison to see just where we stand today and if the US has got back on track with President Obama’s policies.

Unemployment

*   According to the records of the Federal Reserve Bank of Minneapolis, it took an average of just over two years (25 months, to be exact) to regain the level of employment prior to every one of the last ten recessions that the country has gone through.

*   When the Great Recession officially began in December 2007, there was an unemployment rate of 4.9%.

*   Some analysts say that the US won’t reach that sort of level until at least 2023.

*   Obama will be long gone by then, somewhere probably with Ben Bernanke in a hide-out.

*   The latest figures for unemployment stand at 7.4%, although admittedly if we look at real unemployment figures, then we are talking at least 14% since many of those that are classed as U6 (who are seeking full-time employment) are not counted in the figures if they are marginally employed (working for as little as just one hour a week perhaps).

*   U3 people (but doesn’t include anyone who has not been looking for work for the previous four weeks) are the most used for figures to express US unemployment rates.

*   It’s not about the numbers; it’s all about what you actually do with them that counts. It’s a bit like a game of poker. Get the cards and it’s what you do with them that’s going to make you come up a winner when the chips get thrown on the table. Obama has thrown his cards in already.

*   It’s been 5 and a half years down the line now since the Great Recession began. It’s been over for over 3 years now that the Great Recession has officially been declared behind the US and part of history only to be remembered.

*   We are still waiting to see a return to the job level of pre-2007. Time’s up, Mr. Obama.

*   The six levels of unemployment are all published by the Bureau of Labor Statistics, but only one gets any coverage, and that’s not the real one.

*   The US is still trying to make up for a shortfall of at least 2% on the pre-Great Recession unemployment figures. The US has 2.5 million fewer jobs today (but that’s not the real unemployment).

*   The US has experienced the second longest period of unemployment above 8% ever between 1948 and 2013(the worst period being in 1981-1982).

*   Unemployment may well fall to around 6% in 2015 as estimated, but that might well be only due to the fact that people who are discouraged fall out of the figures.

Growth

*   In the past ten recessions before the Great Recession took place, Gross Domestic Product returned to levels seen prior to the recession within a period on average of 4-5 quarters.

*   The Obama recovery took 16 quarters.

*   GDP reached 1.1% in the first quarter of 2013 and then rose to 1.7% in the second quarter.

*   It managed to reach just 2.8% in 2012.

*   According to statisticians, if you were to take the real GDP growth under Obama and then double it (just for fun), Obama would still come out of it all as the worst president for the last 60 years.

Household Income

*   Real median household income in the USA fell by $4, 500 under Obama’s first mandate, which is the average monthly salary.

*   US middle-class households have lost a month’s salary, therefore; or about 8%.

*   In comparison with 2009, real median household income has declined under Obama by 6% today.

*   The decline in real median househould income during the official dates of the recession (2007 until 2009) only fell by 2.6%.

*   Under Obama it has doubled.

Poverty

*   Since 2009, the USA has seen the number of poor in the country increase by 31%.

*   There are now nearly 50 million that are classed as ‘poor’ in the country.

*   The Federal poverty threshold is an annual income of $23, 550 for four people in a family (subtracting or adding$4, 020 per person for additional or fewer people in the family).

*   A single poor person has an annual income of $11, 490.

*   The Census Bureau calculates in a different way, but the poverty threshold stands at $23, 283 (family of four).

*   The levels of poverty and the number of people living in poor conditions have never been higher for the past 50 years.

 

Is Obama the Worst President Really?

Yes, granted the Great Recession has been the worst possible recession experienced in history by its speed and by its knock-on effects, so the past might not be a useful tool to equate the new-style of slumps that we will possibly experience from now on. But, the Great Recession officially only lasted a short while. Maybe they were too quick at getting out the flags and the bunting to announce that it was over. At any rate, the Great Recession has had no Great Recovery. Not, yet, anyhow.

But why have all of these points been the failures of a man elected on a promise to rush in a new era in the US? Obama increased spending when he got into office and brought it to record levels.

*   The deficit was already nearly at $1 trillion when he arrived, to which he added the $830 billion stimulus program, plus the $1.7-trillion Obamacare, with the bailouts and the financial reforms to boot.

*   The second reason why Obama has not managed to reduce unemployment is because the economy has not been relaunched. The tax proposal issued in April this year would increase taxation for 98% of those on incomes over $200, 000 a year in the USA. Increasing taxation will not bring about a revamping of the economy.

*   Regulations have also increased under Obama and made doing business more difficult. The Code of Federal Regulations increased under Obama by more than 11 thousand pages. That means that businesses have to spend more money on complying with the regulations, at a time when they just don’t have it. Annual compliance has been estimated at roughly $1.7 trillion per year (all federal regulations).

Is Obama the worst President of the United States of all time? Who would you put forward as your worst candidate?

Follow ZeroHedge in Real-Time on FinancialJuice

You might also enjoy: New Revelations: NSA and XKeyscore Program | Obama's Corporate Grand Bargain Death of the Dollar | Joseph Stiglitz was Right: Suicide | China Injects Cash in Bid to Improve Liquidity

Technical Analysis: Bear Expanding Triangle | Bull Expanding Triangle | Bull Falling Wedge Bear Rising Wedge High & Tight Flag

 

‘…He’s nothing today but that actor, simply because the US has lost all notion of democracy.

Obama just acts for the shop-front window-dressing game that is played out on television and in the mainstream media. It’s the others that are running the country. They are the ones that are mightily more powerful than any president will ever manage to be in the future, unless a dictator pops out of the wings and runs on stage to pull the final curtain. The spy-agencies, the National Security Agency, the private interest groups and the lobbies run the United States of America today, not Obama, not anyone else. Throw in a little bit of Wall Street and the BanksterGangsters and hey presto we have a Republic. But, it’s a republic in which bananas have been replaced by other such commodities as gold, or steel or gas and petrol, but the government employees are no less  influenced to illegitimately exploit their positions to further their own personal gains, while the workers of the country actually pay back the sums that are siphoned off, embezzled and fraudulently obtained.

Media

The media no longer reports on what is going wrong in the puppet-show as they have already suffered the consequences of an embittered NSA that has wrapped them over the knuckles in a stance that would liken them to patriots turned bad. Edward Snowden has just made a statement that accuses the National Security Agency of drawing up a list of journalists that were critical of the US state in the wake of 9/11.

In an interview to the New York Times Magazine he declared: “After 9/11, many of the most important news outlets in American abdicated their role as a check to power – the journalistic responsibility to challenge the excesses of government – for fear of being seen as unpatriotic and punished in the market during a period of heightened nationalism”.

Heightened nationalism and extended patriotism in the USA is the order of the day. Fall into line, or the guys that pull the strings on the puppet will target you.

Paul Craig Roberts, economist and former Assistant secretary of the Treasury under the Reagan Administration, believes that the US is a ‘lawless’ state in which ‘humanity is drowning in Washington’s criminality’.

James Risen, the New York Times national security reporter risks being jailed for refusing to provide the name of a source. A court of appeal in Virginia has just ordered that a journalist must provide a source upon request from the state and that puts journalism on a bad footing for the future. Risen says he’ll stand by his convictions and go to prison if it comes down to that. The US administration has turned into a ministry of propaganda and a mouthpiece for the organs that stand behind the President.

Security

The US administration has closed down embassies around the world and shipped the diplomats out, packing up and fleeing. The attack on the United States is so imminent that for the first time in history the US has fled? Really?

But, hang on, Al-Qaeda was done and dusted ages ago we were told when the government of the United States andPresident Obama announced that Bin Laden was dead, back in 2011. But, now the National Security Agency is justified in listening in on us. Without them, millions of Americans might have suffered around the world. I’m with you, now! The imminently ‘strategically-significant’ attacks caused 21 embassies to be closed. Then 9 reopened the following day.

NIA NSA

 

James Clapper NIA - USA

James R. Clapper, the Director of the National Intelligence Agency itself, apologized not so long ago for lying to Congress about the activities of the NSA. When asked if the NSA collected data on millions of Americans he replied that “no, Sir” it did not. Clapper is still in his position at the head of the National Intelligence Agency, but it’s hardly likely to change. Who would boot him out? It’s one of the agencies running the show.

Finance

 

Ben Bernanke : USA - Federal Reserve Governor

We should have realized long ago when Ben Bernanke said to Senator (when asked to whom $2.2 trillion had been lent in the bail-out program) just one short, sharp word: “No”. Back then in2009, it was Congress that had lost the battle and the Federal Reserve that had thrown down the gauntlet at the feet of the American people.

The Federal Reserve was no longer accountable to anybody, let alone those that had been elected by the people, for the people. But the Gettysburg Address is only history, isn’t it? Impotency comes with old age, so we are told and Congress was getting on a bit, wasn’t it?

Conclusion?

The Americans are immensely proud of their country. Their nation was constructed on an idea of unity in diversity. Being diverse meant that they had to hold on to one thing. That one thing was incarnated in the body of the imaginary Presidential ideal. But, that’s long gone. Although the pride exists and lingers on still today, but the only unity is that of repaying the national debt of close to $17 trillion. Although, Professor Lawrence Kotlikoff of the University of Boston has estimated that this figure too is pure wool-over-our-eyes fantasy. The real national debt, when we have included the full cost of unfunded liabilities such as Medicare and the Social Security programs, then we reach about $222 trillion in national debt.

 

USA: President Obama

Obama the worst President? Probably not in the light of the fact that he isn’t President and nobody will be unless the system is modified. But, we love a scapegoat. We defend the underdog. How many of us have stood our ground and defended the banksters that were sent down for billions, the guys that have brought down the banks? How many of us have said that it was unfairly contemptible to condemn one single man as the lone wolf, the agitator of the banks’ crimes? How many of us have seen the Kerviel-ing of bankers brought to justice for what they were told to do by the guys at the top lapping up the cream? Yet, we criticize one sole man that stands as a window-dressed statue in the shop front of the Oval Office in some big White House that stood for something once and bring him down like a crashing monument after the revolution has long moved on?

It’s not Obama that is the worst President of the USA, it’s the USA that is itself the worst for letting the Wall Street guys, the banksters, the lobbies, the private enterprises, the security agencies, the others, the unknown run the country for them in the name of the President.
Is Obama the worst President of the United States of all time? Who would you put forward as your worst candidate?

Originally posted Obama NOT Worst President in reply to Obama: Worst President in US History?

Follow ZeroHedge in Real-Time on FinancialJuice

You might also enjoy: New Revelations: NSA and XKeyscore Program | Obama's Corporate Grand Bargain Death of the Dollar | Joseph Stiglitz was Right: Suicide | China Injects Cash in Bid to Improve Liquidity

Technical Analysis: Bear Expanding Triangle | Bull Expanding Triangle | Bull Falling Wedge Bear Rising Wedge High & Tight Flag

 

 

Santelli Slams Liesman: "There's A Difference Between Real-Life Inflation And The Government's"

We have not been shy of sharing our opinion on the hedonics-adjusted, constantly recalibrated-basket-based idiocy that is the government's measures of inflation. However, this morning's Liesman-led cognitive dissonance at the PPI was smashed from the government's Matrix by Rick Santelli's frustration spilling over... Santelli barks, "Listen, I don't believe the government's calculations. There, I said it... I don't have better numbers; I have common sense;" adding that (just as we noted here with energy and real expenses) that "there's a difference between real life and the government."

 

 

Citi's Silver (Lining) Playbook

With Silver's strong recent run, Citi FX Technicals suggest the present technical set up is now starting to look very constructive. At the same time, they add, Gold is also starting to move higher; and trending moves in the precious metals (up or down) tend to be led by the Silver price and the Gold/Silver ratio remains supportive of that view again. Given that they remain cautious near term about the fortunes of the US Dollar, all of the above would suggest, Citi concludes, that the "playbook" is to be long Silver against the USD.

 

 

CSCO Crashes 10% After-Hours, Laying Off 4000 Staff, Sees Weak Q4

 

It seems like it was just yesterday when CSCO announced it would fire 10,000 people. And then another 1,300. And then another 500. Fast forward to today when the "one-time, non-recurring" termination charges are back, as the "recovery", now in its 5th year, progresses a little differently than expected, this time with another 4,000 FTE told to pack their bags.

CISCO TO CUT 4,000 JOBS OR 5% OF WORKFORCE
CISCO SAYS IT REMAINS 'VERY MUCH A COMPANY ON THE OFFENSIVE'

Nobody can blame the company, however: why keep full-time workers, when switching over to part-timers will do just as fine, and generate significant benefits to the bottom line and shareholders.

 

 

US Consumer Bankruptcies Jump By Most In Three Years; Third-Party Collections At All Time High

Something funny happened on the road to the epic consumer balance sheet cleansing and subsequent releveraging (without which there can be no actual non-Fed sugar high fueled recovery): the second quarter. And specifically, as the Fed just disclosed in its quarterly Household Debt and Credit Report, the number of consumer bankruptcies during the second quarter, just jumped by 71K, to 380K from 309K in Q1, the biggest quarterly jump in precisely three years - on both an absolute and relative basis - and the most since the 158K jump recorded in Q2 2010. It appears that when the "releveraging" US consumer isn't busy buying stuff on credit, they are just as busy filing for bankruptcy. Healthy consumer-led recovery and all that.

 

 

Stocks Slump Most In 7 Weeks As Silver Surges

The cluster of Hindenburgs is indicating a very worried market (for example 99 New Highs and 231 New Lows) and for a change a Fed speaker was unable to provide the headline-reading BTFD ammo to save us from the drop in stocks. The 6th down day in the last 8 in stocks and red on the month-to-date screens is not something we are used to seeing. The USD was flat to slightly lower on the day (even as AUD surged and JPY leaked higher) as were Treasury yields (which took a pause after 2 days of being smashed higher). While bonds were flatish, homebuilders and utilities stocks were jammed lower once again (as AAPL pulled Tech and the Nasdaq to outperform again). Copper and oil were also flat on the day but gold saw some improvement (over $1330) and Silver surged 2% (up over 6% on the week now - biggest week since Oct 2011). Yesterday's near-record steepness in VIX's term structure that we warned about seems to have been followed by the usual short-end rip as VIX broke back above 13%.

 

 

Guest Post: How Bad Can Things Get?

How Bad Can Things Get? Nobody knows the answer, so we have to consider our responses to a spectrum of possibilities. President Calvin Coolidge famously remarked, "If you see ten troubles coming down the road, you can be sure that nine will run into the ditch before they reach you." While there is certainly much wisdom in this reassurance, that still leaves us the task of preparing for the one that doesn't run harmlessly into the ditch.

 

 

Record Student Loan Debt Crushes American Enterpreneurial Spirit

Freshly-minuted MBAs "are willing to sleep on a couch for a year or two, but they can't do it with the burden of student loans," is how on senior lecturer describes the entrepreneurial-spirit-sucking debt loads that college-leavers face in the new normal. Faced with mounting monthly payments, the WSJ reports that would-be-Bezos have little choice but to look for the steady paychecks that accompany a regular job. Recent surveys find that "the single largest inhibitor to entrepreneurship is the student loan" burden and it seems states are beginning to realize this growth-inhibiting reality. In order to tamp down ambition-busters such as "I would be a serial entrepreneur if it weren't for my student loans," California (and Rhode Island) are enacting legislation to reduce college costs and looking at the feasibility of temporary forbearance. While some see their student-loans as a motivator, it seems many more are forced down a different path due to the "real responsibilities."

 

 

John Kerry Chimes In, Calls Egypt Situation "Deplorable"

It appears John Kerry has once more disembarked from the "Isabel" and was kind enough to share his latest incisive thoughts on the borderline civil war in non-coup'y, democratic Egypt.

 

 

When Inflation Doves Cry

The Wall Street Journal recently ran a front-page article reporting that the monetary-policy “doves,” who had forecast low inflation in the United States, have gotten the better of the “hawks,” who argued that the Fed’s monthly purchases of long-term securities, or so-called quantitative easing (QE), would unleash faster price growth. The report was correct but misleading, for it failed to mention why there is so little inflation in the US today. Those who believe that inflation will remain low should look more thoroughly and think more clearly. There are plenty of good textbooks that explain what too many policymakers and financial-market participants would rather forget.

 

 

JPM Scapewhaling Conference: Live Webcast

Nothing like kicking a beached scapewhale when it's down.

 

 

Binary Bulls Betting On Bullard Brief, Bounced

It seems the headline-reading algos are in charge once again... as Fed's Bullard held an informal discussion this lunchtime, Bloomberg headlines sent the S&P 500 (the index that represents 500 major US corporations economic viability) up and down rapidly...

*BULLARD SAYS FED DOING 'WHAT IT CAN DO' TO AID U.S. RECOVERY (not so hopeful)
*BULLARD SEES 'A LOT OF RISK GOING FORWARD' OF HIGHER INFLATION (uh oh, Sell!)
*BULLARD: FED NEEDS TO MAINTAIN CRED. ON 2% INFLATION GOAL (oh wait, Buy!)
*BULLARD SAYS U.S. SHOULD MAKE BIGGEST BANKS SMALLER (umm, Sell!)

And so the game goes on...

 

 

Time To Rotate Into This Best YTD Performing Stock Market

Taper worries got you down? Then forget Europe, don't mess with China, and run from Emerging markets and instead do what all other professional traders do and chase the momentum in this best performing in 2013 stock market.

 

 

Janet Yellen On The Financial Crisis: "I Didn’t See Any Of That Coming Until It Happened"

“For my own part I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.” - Janet Yellen, 2010

 

 

This Video Clip From Egypt Is Likely Not Produced

Unlike the previously 'staged' Muslim Brotherhood demonstrations, we suspect this 'real' clip of the escalating and deadly situation in Egypt will open a few eyes to how close the nation is to civil war.

 

 

NYTimes Website Offline Following Cyberattack

 

Http/1.1 Service Unavailable

 

 

SH*T You WoN'T See IN NYC... Posted by: williambanzai7 Post date: 08/13/2013 - Frisk and Sink...

 



 

.

 

This Is The Biggest Cluster Of Hindenburg Omens Since The Last Stock Market Crash

Are we heading for a major stock market decline?  Warnings about a crash of the financial markets are quite common these days, and usually they don't materialize.  But this time may be different.  A number of top analysts are pointing out the fact that the biggest cluster of "Hindenburg Omens" has appeared since the last stock market crash.  And those that have studied this insist that the more "Hindenburg Omens" there are in a cluster, the stronger the signal is.  Meanwhile, another very disturbing sign is the fact that the yield on 10 year U.S. Treasuries is starting to soar again.  On Tuesday it shot up from 2.62% to 2.727%.  As I have written about previously, the yield on 10 year U.S. Treasuries is the most important number in the U.S. economy right now.  If that number continues to rise, it is going to be very, very bad news for the financial system. (Read More....)

 

 

 

US Treasury Finally Admits The Truth: It's All POMO (And "No One Dares Fight The Fed")

Back in 2010, when few still dared to question that the entire move in the market is predicated on the Fed's daily POMO (then still on QE2), we laid out, in a way so easy even a caveman could grasp it, how every tiny move in the stock market is nothing but a function of the Fed's daily POMO on those days in which Bernanke would be directly injecting liquidity into the capital markets using his Primary Dealer frontmen. Since then nearly three years have passed, and thousands of POMO days. All of which brings us to this quarter's Treasury refunding presentation, and specifically the section "Effects of policy and market structure" from the Presentation to the Treasury Borrowing Advisory Committee, in which we learn that we had in fact been right all along, and that perhaps for the first time ever, the Treasury admitted that not only "no one dares fight the Fed" but that, as expected, it is "all POMO."

 

 

Deutsche Bank Hopes "Not All Margin Calls Come At Once In Case Of A Sell-Off"

A recent survey of asset managers globally, managing USD 27.4 trillion between them, found that 78% of defined-benefit plans would need annual returns of at least 5% per year to meet their commitments, while 19% required more than 8%, "a target of 5% per year can be reached but only by using leverage, shorting, and derivavtives." And sure enough, as Deutsche Bank (DB) reports, in short, investors have rarely been more levered than today! According to DB, a MoM change in NYSE margin debt >10% has to be taken as a critical warning signal as there are astonishing similarities in the sequence of events among all crises. As the S&P 500 just hit a new all-time high, investors might want to ask themselves when it is a good time to become more cautious – yesterday, in our view. Simply put, the higher margin debt levels rise, the more fragile the underlying basis on which prices trade; with even a less severe sell-off in equities capable of triggering a collapse.

 

 

21 Facts About America's Surging Government Dependence

The percentage of Americans that are economically independent has dropped to a stunningly low level. What we have in America today is a situation where economic independence is being systematically eradicated and the government is increasingly being expected to provide our daily bread and to take care of all of us from the cradle to the grave. And once you become a serf of the state, it is very hard to resist anything the government is doing in a meaningful way.  After all, the money that you are getting from the government is enabling you to survive.  In essence, your allegiance has been at least partially purchased and you may not even realize it. At this point, the number of Americans that are financially dependent on the government is absolutely staggering, and it gets worse with each passing year.  Just consider the following statistics...

 

 

The Other Chinese Interest Rate Nobody Is Talking About

 

While all the attention of the world's investing public - focused on the short-term repo markets in China - has been ameliorated by the PBOC's 'fold' thanks to ~CNY600bn in liquidity provision (or an equivalent 65bp RRR cut), liquidity concerns remain high (and not so hidden if one knows where to look). Not only has there been a surge in copper imports - based on the cash-for-copper deals replacing short-term funding but concerns raised by investors and the PBOC over duration mismatches (exposed by the recent crisis) has forced Chinese banks to seek longer-term funding. Banks are now raising longer-term deposit rates in order to attract stickier term-deposits and this is causing medium-term Chinese bond yields to surge.

 

 

A Golden Opportunity Perhaps

"Preservation of Capital" is much more important than any other strategy in the marketplace and this has been demonstrated time and time again over the centuries. Gold, since ancient times, has served four functions. The first is for jewelry and this is a subject for lunch at the Four Seasons. This is not where we are dining today. The three other functions of gold are a replacement for a currency, an asset that rises in value in times of inflation and an asset that becomes more valuable when Fear is hard upon the market place. It is then a matter of viewpoint where you think we are now but given the sell-off in gold, the possibility of a dark horse or two beginning to trot after the German elections or the fantasy numbers pumped out of China becoming unmasked; gold is an interesting option these days. But there is potentially another 'trade'...

 

 

Guest Post: British PM Calls On Communities To Support Fracking

British Prime Minister David Cameron has written an article in the Daily Telegraph in which he has called for all UK communities to show support for the fracking industry, and welcome the coming shale gas boom, stating that such a boom will lower energy bills and create jobs. Despite his demand for Brits to do the patriotic thing, "experts from Ofgem to Deutsche Bank to drilling company Cuadrilla itself argue that UK shale will not bring down bills, because, unlike the US, the UK is part of a huge European gas market.”

 

 

Ignore These Six 'Events' At Your Own Risk

With European stocks at multi-month highs, European bond risk at multi-year lows, US equities near all-time highs, US equity volatility expectations near post-crisis lows, and credit risk volatility fading, one could be forgiven for believing it's all gonna be ok. Of course, that assumes we get through the next six weeks unscathed...

 

 

Corn-Holed, Bonds Sold, Equity Bears Fold

 

Intraday volatility remains extreme in almost every asset class. Today it was bonds and corn's turn as the former saw 7Y yields jump over 10bps (for the worst 2 days in 6 weeks on moar Taper talk) and the latter dropped 4% on the day to 3-year lows (on record crop expectations). Equity markets performed the now-ubiquitous intraday reversal as early shorting was squeezed back quickly to a green close. short-term VIX was smashed lower soon after the US open but faded back higher into the close to end around 12.5% (but the VIX term structure is now at 4 months steeps). FX markets were very active (JPY -2% and AUD -1% on the week) pulling the USD +0.75% but Treasuries have been battered (10Y near 2 year high yields) with 7Y adding 15bps this week (and Utility and homebuilder stocks have suffered the most). Gold dropped a little on the USD strength, silver stayed green and copper and oil were flat. Oh and Carl Icahn tweeted and pulled Tech and the Nasdaq to outperform.

 

 

Hindenburg Omen Strikes Again - Biggest Cluster On Record

 

For the 5th time in the last 7 days, equity market internals have triggered an anxiety-implying Hindenburg Omen. Based on our data, this is the most concentrated cluster of new highs, new lows, advancing/declining based confusion on record. The last few occurrences have not ended well (though obviously not disastrously) but as the creator of the 'Omen' notes, the more occurrences that cluster, the stronger the signal.

 

 

 

China's $1 Trillion GDP Lie

From goal-seeked GDP, manipulated inflation, liquidity-flow-exaggerated trade data, and hidden (and divergent) PMI details, the question of the unreliability of Chinese data is not a new one. However, anecdotes aside, a new study from Peking University finds, conservatively, correcting for housing price inflation in the Chinese CPI data adds approximately 1% to annual consumer price inflation in China, reducing real GDP by 8-12% or more than $1 trillion.

 

 

About iCahn's AAPL Activism, And Those AAPL Bonds

 

While we congratulate Carl Icahn (or is that iCahn) for once again taking over the spotlight in what has otherwise been a newsflow empty summer doldrum week, and like everyone else, are surprised by his most recent activist target, the country's on-again, off-again most valuable by market cap company, Apple, we do, as we did before when David Einhorn proposed virtually the same activist play, have some questions. Chief among them: how will AAPL fund any proposed expanded buyback or increased dividend using domestic cash?

 

 

Guest Post: That Which Is Incapable Of Reforming Itself Disappears

Every failing organization, from empires to school districts, responds to its embarrassingly visible failure by proclaiming one reform after another. To take but a few from a long list, China is "reforming" its hopelessly corrupt, debt-based central-planning economy, President Obama is "reforming" the Global Surveillance State (into a presumably kinder, gentler machine gun hand?), The European Union is "reforming" its banking sector and the overly complex U.S. Sickcare system is being reformed with 2,300 pages of additional complexity under the Orwellian title of Affordable Care Act (ACA), a.k.a. ObamaCare. The one dynamic that matters is of course left unsaid: the inability of the Status Quo to reform itself, i.e. undertake fundamental, systemic reforms. This inability has many facets but only one root: political sclerosis caused by entrenched, vested interests seeking to protect their perquisites and power. This is as true of local school districts as it is of entire states.

 

 

OBAMA CLOWN BANNED FROM FAIR

BANNED FOR LIFE!


Clowns ordered to 'sensitivity training'...
Announcer, Rodeo President Resign...
'I know I'm a clown, Obama just running around acting like one, doesn't know he is one'...
MO CONTROVERSY SPIRALING OUT OF CONTROL...
'It's entertainment'...
NAACP: DOJ, Secret Service Should Investigate...

 

Obama Feasts on Fried Shrimp, Fried Oysters, Onion Rings...


Teen unemployment rate in CA: 33%...

 

 

Snowden: NSA targeted journalists critical of government after 9/11...

Secret Service monitored REDDIT co-founder before suicide...

Michael Hastings Was Investigating CIA Director John Brennan...

 

NC guv signs extensive voter ID law...

POLITICO: 'The coming war'...

 

Missouri Fair clown draws criticism for Obama mask...

'Shameful' and 'unacceptable'...

Hooting and hollering from the stands...

DEMS BLAST RODEO CLOWN...

 

DOG DAYS: BO AIRLIFTED TO OBAMA HOLIDAY HOME...

 

Quadruple amputee has wheelchair stolen while on vacation...

 

AMERICANS RENOUNCING CITIZENSHIP AT RECORD LEVELS...

 

WEINER OFFERS SUPPORTERS 'SNEAK PEEK'...

POLL: Sets new record with 80% disapproval...

Two-thirds of NYC say Weiner, Spitzer 'embarrassing'...

 

Why Are So Many People Choosing To Leave The United States Permanently?

Have things gotten so bad that it is time to leave the United States for good?  That is a question that a lot of Americans are dealing with these days, and an increasing number of them are choosing to leave the country of their birth permanently.  Some are doing it for tax reasons, some are doing it because they believe the future is brighter elsewhere, and others are doing it because they are very distressed about the direction that America is heading and they don't see any hope for a turnaround any time soon.  Personally, I have several friends and contacts that regard themselves as "preppers" that have decided that the United States is too far gone to recover.  They have moved their families out of the country and they never plan to return.  As this nation continues to head down the very troubled road that it is currently on, this trend is probably only going to accelerate even more. (Read More....)

 

 

 

 

They Are Systematically Destroying Our Independence And Making Us All Serfs Of The State

The percentage of Americans that are economically independent has dropped to a stunningly low level.  In order to be economically independent, you have got to be able to take care of yourself without any assistance from anyone else.  Unless you are independently wealthy, that means that you either have your own business or you have a full-time job.  Unfortunately, as you will see below, the percentage of Americans that are self-employed is at an all-time record low and the percentage of Americans with a full-time job has declined to a level not seen in about 30 years.  As a result, more Americans than ever find themselves forced to turn to the government for assistance.  When you add it all up, about half of all Americans get money from the government each month these days.  And yes, there will always be poor people that cannot take care of themselves that need help, but when you have more than half of the population dependent on the government that is a major problem.  You see, the truth is that our independence is systematically being taken away from us and we are steadily being made serfs of the state.  And once you become a serf of the state, it is very hard to resist anything the government is doing in a meaningful way.  After all, the money that you are getting from the government is enabling you to survive.  In essence, your allegiance has been at least partially purchased and you may not even realize it. (Read More....)

 

 

 

 

 

 

Are These The Last Days Of The U.S. Marine Corps?

Are the current personnel cuts the beginning of the end for the U.S. Marines?  Could these actually be the last days of the U.S. Marine Corps?  A decade ago, such a notion would have been absolutely unthinkable, but times have changed.  The Marine Corps was already in the process of drawing down from a peak of 202,100 Marines to 182,100, and now Defense Secretary Chuck Hagel is warning that the sequester cuts may force the Army to be cut down to a size of 380,000 and the Marine Corps to be cut down to a size of 150,000.  Unfortunately for the Marines, even larger cuts may eventually be coming.  Many in the Obama administration and in the Pentagon are now openly questioning whether there will be an important role for the Marines to play in the future.  After all, the U.S. military has not conducted a major amphibious landing since the Korean War.  As our politicians look for even more ways to cut military expenses in the years ahead, the Marines may end up being very tempting "low hanging fruit" that the bureaucrats can't resist.  And unless another major conflict erupts, it seems clear that more cuts are probably coming.  In fact, even the New York Times admits that "deep reductions" to the U.S. military have long been an important goal for Barack Obama. (Read More....)

 

A Quadrillion Yen And Counting – The Japanese Debt Bomb Could Set Off Global Panic At Any Moment

How much is 1,000,000,000,000,000 yen worth?  Well, a quadrillion yen is worth approximately 10.5 trillion dollars.  It is an amount of money that is larger than the "the economies of Germany, France and the U.K. combined".  It is such an astounding amount of debt that it is hard to even get your mind around it.  The government debt to GDP ratio in Japan will reach 247 percent this year, and the Japanese currently spend about 50 percent of all central government tax revenue on debt service.  Realistically, there are only two ways out of this overwhelming debt trap for the Japanese.  Either they default or they try to inflate the debt away.  At this point, the Japanese have chosen to try to inflate the debt away.  They have initiated the greatest quantitative easing experiment that a major industrialized nation has attempted since the days of the Weimar Republic.  Over the next two years, the Bank of Japan plans to zap 60 trillion yen into existence out of thin air and use it to buy government bonds.  By the time this program is over, the monetary base in Japan will have approximately doubled.  But authorities in Japan are desperate.  They know that the Japanese debt bomb could set off global panic at any time, and they are trying to find a way out that will not cause too much pain. (Read More....)

 

 

Newly Discovered Eighth Grade Exam From 1912 Shows How Dumbed Down America Has Become

Have you ever seen the movie “Idiocracy”?  It is a movie about an “average American” that wakes up 500 years in the future only to discover that he is the most intelligent person by far in the “dumbed down” society that is surrounding him.  Unfortunately, that film is a very accurate metaphor for what has happened to American society today.  We have become so “dumbed down” that we don’t even realize what has happened to us.  But once in a while something comes along that reminds us of how far we have fallen.  In Kentucky, an eighth grade exam from 1912 was recently donated to the Bullitt County History Museum.  When I read this exam over, I was shocked at how difficult it was.  Could most eighth grade students pass such an exam today?  Of course not.  In fact, I don’t even think that I could pass it.  Sadly, this is even more evidence of “the deliberate dumbing down of America” that former Department of Education official Charlotte Iserbyt is constantly warning us about.  The American people are not nearly as mentally sharp as they once were, and with each passing generation it gets even worse. (Read More.....)

Just check out some of the questions from the eighth grade exam that was discovered.  Do you think that you could correctly answer these?…

-Through which waters would a vessel pass in going from England through the Suez Canal to Manila?

-How does the liver compare in size with other glands in the human body?

-How long of a rope is required to reach from the top of a building 40 feet high to the ground 30 feet from the base of a building?

-Compare arteries and veins as to function. Where is the blood carried to be purified?

-During which wars were the following battles fought: Brandywine, Great Meadows, Lundy’s Lane, Antietam, Buena Vista?

A copy of the exam is posted below.  Today, it would be a real challenge for many college students to correctly answer most of these questions correctly…

If you would like to know what the correct answers to these questions are, you can find them right here.

One of the areas that Americans are horribly deficient in today is geography.  If you give them a blank world map, most Americans can only identify a very limited number of countries.  In fact, according to a survey that was conducted by the National Geographic Society several years ago, only 37 percent of all Americans between the ages of 18 and 24 could find the nation of Iraq on a map of the world even though the United States was actively fighting a war there at the time.

Our young people are also horribly deficient when it comes to math and science.  At this point, 15-year-olds in the United States do not even rank in the top half of all industrialized nations when it comes to math and science literacy.

How do we expect to thrive as a nation with these kinds of results?

In a previous article entitled “Dumb As A Rock: You Will Be Absolutely Amazed At The Things That U.S. High School Students Do Not Know“, I discussed some more survey results that show how dumb our high school students have become…

*Only 43 percent of all U.S. high school students knew that the Civil War was fought some time between 1850 and 1900.

*More than a quarter of all U.S. high school students thought that Christopher Columbus made his famous voyage across the Atlantic Ocean after the year 1750.

*Approximately a third of all U.S. high school students did not know that the Bill of Rights guarantees freedom of speech and freedom of religion.

*Only 60 percent of all U.S. students knew that World War I was fought some time between 1900 and 1950.

Even more shocking were the results of a survey of Oklahoma high school students conducted back in 2009.  The following is a list of the questions that were asked and the percentage of students that answered correctly….

What is the supreme law of the land? 28 percent

What do we call the first ten amendments to the Constitution? 26 percent

What are the two parts of the U.S. Congress? 27 percent

How many justices are there on the Supreme Court? 10 percent

Who wrote the Declaration of Independence? 14 percent

What ocean is on the east coast of the United States? 61 percent

What are the two major political parties in the United States? 43 percent

We elect a U.S. senator for how many years? 11 percent

Who was the first President of the United States? 23 percent

Who is in charge of the executive branch? 29 percent

So why is this happening?

Well, for one thing, our system of public education is a complete and total joke.  We have millions of kids “graduating from high school” that can barely read, that have almost no ability to speak in public, that cannot write a decent essay and that cannot balance a checkbook.

It also doesn’t help that Americans (especially young Americans) are absolutely addicted to entertainment.  Americans spend an average of 153 hours watching television each month, and when we aren’t watching television we are watching movies, playing video games, surfing the Internet, etc.

When is the last time that you saw a young person actually reading a book that was not required for school?  Yes, it does happen once in a while, but it is so rare that it is kind of startling when you spot it happening.

But it is not just our young people that have been “dumbed down”.  Even our presidents have been “dumbed down”.  If you doubt this, just check out this amazing graphic which shows how the reading level of State of the Union addresses has steadily declined since the beginning of our nation.

Personally, I have an awareness that I should be able to think much more clearly than I am able to right now.  I can feel the effect that our society has had on my own mental abilities, and it frustrates me.

A lot has been written about the decline of our health here in America, but very little gets written about our mental decline.  That is a shame, because our ability to think clearly and rationally is so very critical to our future.

So what do you think about all of this?

Do you agree that America has been “dumbed down”?

Please feel free to share your opinion by posting a comment below…

 

The state of our union is … dumber:

How the linguistic standard of the presidential address has declined

Using the Flesch-Kincaid readability test the Guardian has tracked the reading level of every state of the union

Year of address18001820184018601880190019201940196019802000Flesch–Kincaid Reading Level8101214161820222426Number of words3000030,00030003,000

Presidents in order of reading level

2 December 1823
James Monroe delivers an address that would later become
known as the Monroe Doctrine, a key tenet of US foreign
policy for almost two centuries

2 December 1913
Woodrow Wilson’s speech follows more than
100 years of the address being delivered to
Congress as a written submission. His precedent
is (mostly) followed to this day

3 January 1934
Franklin D Roosevelt changes
the name of the address from
the President’s Annual Message
to Congress to State of the Union

16 January 1981
Jimmy Carter's final address, delivered as a written message, is the longest ever state of the union

1. George H.W. Bush

 

Avg. reading level

8.6

1989199019911992


Average sentence

Education is the one investment that means more for our future, because it means the most for our children.

2. Barack Obama

 

Avg. reading level

9.2

20092010201120122013


Average sentence

And if there's one thing that has unified Democrats and Republicans, it's that we all hated the bank bailout.

3. William J. Clinton

 

Avg. reading level

9.8

19931994199519961997199819992000


Average sentence

I noticed the announcement of the leadership today that Congress is taking similar steps to cut its costs.

4. Lyndon B. Johnson

 

Avg. reading level

10

196419651966196719681969


Average sentence

We have built a strong economy that has put almost 3 million more Americans on the payrolls in the last year alone.

5. George W. Bush

 

Avg. reading level

10

200120012002200320042005200620072008


Average sentence

And we will address the concerns of those who have health coverage yet worry their insurance company does not care and will not pay.

6. Ronald Reagan

 

Avg. reading level

10.4

1982198319841985198619871988


Average sentence

But from this podium, Winston Churchill asked the free world to stand together against the onslaught of aggression.

7. Harry S. Truman

 

Avg. reading level

10.9

19461947194819491950195119521953


Average sentence

In this connection, the Congress will wish to consider legislation to take the place of the 1937 Sugar Act which expires at the end of this year.

8. Gerald R. Ford

 

Avg. reading level

11.2

197519761977


Average sentence

We must strike a reasonable compromise on environmental concerns with coal.

9. Jimmy Carter

 

Avg. reading level

11.6

1978197919801981


Average sentence

While the budget deficits during my term are higher than I would have liked, their size is determined for the most part by economic conditions.

10. Richard Nixon

 

Avg. reading level

11.8

19701971197219731974


Average sentence

Ours has become--as it continues to be, and should remain--a society of large expectations.

11. Calvin Coolidge

 

Avg. reading level

12.1

192319241925192619271928


Average sentence

It is exceedingly gratifying to observe this progress, both in its method and in its result promises so much that is beneficial to the world.

12. John F. Kennedy

 

Avg. reading level

12.3

196119621963


Average sentence

Concessions, in this bargaining, must of course be reciprocal, not unilateral.

13. Franklin D. Roosevelt

 

Avg. reading level

12.4

193419351936193719381939194019411942194319441945


Average sentence

We know what might happen to us of the United States if the new philosophies of force were to encompass the other continents and invade our own.

14. Dwight D. Eisenhower

 

Avg. reading level

12.6

195319541955195619571958195919601961


Average sentence

So dedicated, and with faith in the Almighty, humanity shall one day achieve the unity in freedom to which all men have aspired from the dawn of time.

15. Herbert Hoover

 

Avg. reading level

13.2

1929193019311932


Average sentence

In a large sense these undertakings have been adhered to and we have not witnessed the usual reductions of wages which have always heretofore marked depressions.

16. Chester A. Arthur

 

Avg. reading level

13.8

1881188218831884


Average sentence

The organization and conduct of this relief expedition reflects great credit upon all who contributed to its success.

17. Warren Harding

 

Avg. reading level

14.5

19211922


Average sentence

In the three decades ending in 1920 the country's freight by rail increased from 631,000,000 tons to 2,234,000,000 tons; that is to say, while our population was increasing, less than 70 per cent, the freight movement increased over 250 per cent.

18. Abraham Lincoln

 

Avg. reading level

14.6

1861186218631864


Average sentence

In the exercise of my best discretion I have adhered to the blockade of the ports held by the insurgents, instead of putting in force by proclamation the law of Congress enacted .

19. Theodore Roosevelt

 

Avg. reading level

15.5

19011902190319041905190619071908


Average sentence

Not merely would this be wholly ineffective, but the diversion of our efforts in such a direction would mean the abandonment of all intelligent attempt to do away with these evils.

20. Woodrow Wilson

 

Avg. reading level

15.6

19131914191519161917191819191920


Average sentence

It makes little difference what minority it is; whether capital or labor, or any other class; no sort of privilege will ever be permitted to dominate this country.

21. James Buchanan

 

Avg. reading level

15.9

1857185818591860


Average sentence

They accordingly inserted an article in the constitution for this purpose similar in form to those which had been adopted by other Territorial conventions.

22. Benjamin Harrison

 

Avg. reading level

15.9

1889189018911892


Average sentence

This has not, however, been done, and the Federal officers and courts have no power in such cases to intervene, either for the protection of a foreign citizen or for the punishment of his slayers.

23. Ulysses S. Grant

 

Avg. reading level

16.6

18691870187118721873187418751876


Average sentence

From my own experience upon the frontiers and in Indian countries, I do not hold either legislation or the conduct of the whites who come most in contact with the Indian blameless for these hostilities.

24. Andrew Johnson

 

Avg. reading level

16.9

1865186618671868


Average sentence

These questions are of such moment that they must have commanded the attention of the great powers, and are so interwoven with the peace and interests of every one of them as to have insured an impartial decision.

25. William McKinley

 

Avg. reading level

16.9

1897189818991900


Average sentence

Frear, of Hawaii, as commissioners to confer and recommend to Congress such legislation concerning the Hawaiian Islands as they should deem necessary or proper.

26. William H. Taft

 

Avg. reading level

17.3

1909191019111912


Average sentence

The treaty annexing Korea to the Empire of Japan, promulgated August 29, 1910, marks the final step in a process of control of the ancient empire by her powerful neighbor that has been in progress for several years past.

27. James Polk

 

Avg. reading level

17.7

1845184618471848


Average sentence

Until that result is known I forbear to recommend to Congress such ulterior measures of redress for the wrongs and injuries we have so long borne as it would have been proper to make had no such negotiation been instituted.

28. Millard Fillmore

 

Avg. reading level

17.7

185018511852


Average sentence

Our commerce spreads over every sea and visits every clime, and our ministers and consuls are appointed to protect the interests of that commerce as well as to guard the peace of the country and maintain the honor of its flag.

29. Rutherford B. Hayes

 

Avg. reading level

17.8

1877187818791880


Average sentence

My purpose in this respect has been to return to the system established by the fundamental law, and to do this with the heartiest cooperation and most cordial understanding with the Senate and House of Representatives.

30. George Washington

 

Avg. reading level

17.9

17901790179117921793179417951796


Average sentence

In pursuing this course, however, I can not forget what is due to the character of our Government and nation, or to a full and entire confidence in the good sense, patriotism, self-respect, and fortitude of my country-men.

31. James Monroe

 

Avg. reading level

17.9

18171818181918201821182218231824


Average sentence

Several new States have been admitted into our Union to the west and south, and Territorial governments, happily organized, established over every other portion in which there is vacant land for sale.

32. John Adams

 

Avg. reading level

18.2

1797179817991800


Average sentence

It is with you, gentlemen, to consider whether the local powers over the District of Columbia vested by the Constitution in the Congress of the United States shall be immediately exercised.

33. Zachary Taylor

 

Avg. reading level

18.3

1849


Average sentence

The United States did not at any time interfere in the contest, but the feelings of the nation were strongly enlisted in the cause, and by the sufferings of a brave people, who had made a gallant, though unsuccessful, effort to be free.

34. Grover Cleveland

 

Avg. reading level

18.3

18851886188718881893189418951896


Average sentence

This important field of control and regulation having been thus left entirely unoccupied, the expediency of Federal action upon the subject is worthy of consideration.

35. Thomas Jefferson

 

Avg. reading level

18.5

18011802180318041805180618071808


Average sentence

The love of peace so much cherished in the bosoms of our citizens, which has so long guided the proceedings of their public councils and induced forbearance under so many wrongs, may not insure our continuance in the quiet pursuits of industry.

36. John Tyler

 

Avg. reading level

19.1

1841184218431844


Average sentence

While just confidence is felt in the judiciary of the States, yet this Government ought to be competent in itself for the fulfillment of the high duties which have been devolved upon it under the organic law by the States themselves.

37. Andrew Jackson

 

Avg. reading level

19.7

18291830183118321833183418351836


Average sentence

With the nation that was our earliest friend and ally in the infancy of our political existence the most friendly relations have subsisted through the late revolutions of its Government, and, from the events of the last, promise a permanent duration.

38. John Quincy Adams

 

Avg. reading level

19.9

1825182618271828


Average sentence

The public faith no less than the just rights of individuals and the interest of the community itself appears to require further provision for the speedy settlement of those claims, which I therefore recommend to the care and attention of the Legislature.

39. Franklin Pierce

 

Avg. reading level

20

1853185418551856


Average sentence

The aggregate amount of public land sold during the last fiscal year, located with military scrip or land warrants, taken up under grants for roads, and selected as swamp lands by States is 24,557,409 acres, of which the portion sold was 15,729,524 acres, yielding in receipts the sum of $11,485,380.

40. Martin van Buren

 

Avg. reading level

20.7

1837183818391840


Average sentence

The erection of a national foundry and gunpowder manufactory, and one for making small arms, the latter to be situated at some point west of the Allegany Mountains, all appear to be of sufficient importance to be again urged upon your attention.

41. James Madison

 

Avg. reading level

21.6

18091810181118121813181418151816


Average sentence

In reviewing the scenes through which it has been attained we can rejoice in the proofs given that our political institutions, founded in human rights and framed for their preservation, are equal to the severest trials of war, as well adapted to the ordinary periods of repose.

Presidents James A. Garfield (1881) and William Henry Harrison (1841) did not deliver a State of the Union address.

Sources: Gerhard Peters and Brad Borevitz

 

 

Dumb As A Rock: You Will Be Absolutely Amazed At The Things That U.S. High School Students Do Not Know

By Michael Snyder, on January 10th, 2012

 

 

Are we raising the stupidest generation in American history?  The statistics that you are about to read below are incredibly shocking.  They indicate that U.S. high school students are basically as dumb as a rock.  As you read the rest of this article, you will be absolutely amazed at the things that U.S. high school students do not know.  At this point, it is really hard to argue that the U.S. education system is a success.  Our children are spoiled and lazy, our schools do not challenge them and students in Europe and in Asia routinely outperform our students very badly on standardized tests.  In particular, schools in America do an incredibly poor job of teaching our students subjects such as history, economics and geography that are necessary for understanding the things that are taking place in our world today.  For example, according to a survey conducted by the National Geographic Society, only 37 percent of Americans between the ages of 18 and 24 can find Iraq on a map of the world.  According to that same survey, 50 percent of Americans between the ages of 18 and 24 can’t even find the state of New York on a map.  If our students cannot even find Iraq and New York on a map, what hope is there that they will be able to think critically about the important world events of our day?

Sadly, almost every survey or study about high school students that gets done shows that most of our students are not even receiving a basic education.

For example, the following comes from an article posted on MSNBC….

Just 13 percent of high school seniors who took the 2010 National Assessment of Educational Progress — called the Nation’s Report Card — showed solid academic performance in American history.

So only 13 percent of our high school seniors are proficient in history?

That doesn’t sound good.

So what does that mean exactly?

Well, there have been some other surveys and studies that have quizzed U.S. high school students about specific historical facts.

The following are some of the absolutely amazing results of a study conducted a few years ago by Common Core….

*Only 43 percent of all U.S. high school students knew that the Civil War was fought some time between 1850 and 1900.

*More than a quarter of all U.S. high school students thought that Christopher Columbus made his famous voyage across the Atlantic Ocean after the year 1750.

*Approximately a third of all U.S. high school students did not know that the Bill of Rights guarantees freedom of speech and freedom of religion.  (This is a topic that I touched on yesterday).

*Only 60 percent of all U.S. students knew that World War I was fought some time between 1900 and 1950.

Even more shocking were the results of a survey of Oklahoma high school students conducted back in 2009.  The following is a list of the questions that were asked and the percentage of students that answered correctly….

What is the supreme law of the land? 28 percent

What do we call the first ten amendments to the Constitution? 26 percent

What are the two parts of the U.S. Congress? 27 percent

How many justices are there on the Supreme Court? 10 percent

Who wrote the Declaration of Independence? 14 percent

What ocean is on the east coast of the United States? 61 percent

What are the two major political parties in the United States? 43 percent

We elect a U.S. senator for how many years? 11 percent

Who was the first President of the United States? 23 percent

Who is in charge of the executive branch? 29 percent

Some have criticized the survey results above because they came from a telephone survey, but the truth is that they are not some sort of an anomaly.  Many other surveys have produced similar results.  It doesn’t take a genius to realize that a large percentage of our high school students are as dumb as a rock.

The following is from an article written by reporter Mark Morford in which he described his conversations with a longtime Oakland high school teacher that was nearing retirement….

It’s gotten so bad that, as my friend nears retirement, he says he is very seriously considering moving out of the country so as to escape what he sees will be the surefire collapse of functioning American society in the next handful of years due to the absolutely irrefutable destruction, the shocking — and nearly hopeless — dumb-ification of the American brain. It is just that bad.

Now, you may think he’s merely a curmudgeon, a tired old teacher who stopped caring long ago. Not true. Teaching is his life. He says he loves his students, loves education and learning and watching young minds awaken. Problem is, he is seeing much less of it.

Later on in that same article, Morford tells us that the high school teacher even admitted that very few of his students even know how to put a sentence together….

It gets worse. My friend cites the fact that, of the 6,000 high school students he estimates he’s taught over the span of his career, only a small fraction now make it to his grade with a functioning understanding of written English. They do not know how to form a sentence. They cannot write an intelligible paragraph. Recently, after giving an assignment that required drawing lines, he realized that not a single student actually knew how to use a ruler.

It is not that our students do not have the capacity to be great.

It is just that they have learned to be incredibly lazy and our schools do not challenge them at all.

One study found that 55 percent of all U.S. high school students spend 3 hours or less per week preparing for class.

Other nations require their students to work far longer and far harder.

And they get much better results.

Today, American 15-year-olds do not even rank in the top half of all advanced nations when it comes to math or science literacy.

So how do we expect to compete if this continues?

If we would just challenge our students and require more out of them we could do so much better.  What most public schools are doing right now simply does not work.  The following is from a report that John Stossel did a few years ago entitled “Stupid In America“….

I talked with 18-year-old Dorian Cain in South Carolina, who was still struggling to read a single sentence in a first-grade level book when I met him. Although his public schools had spent nearly $100,000 on him over 12 years, he still couldn’t read.

So “20/20″ sent Dorian to a private learning center, Sylvan, to see if teachers there could teach Dorian to read when the South Carolina public schools failed to.

Using computers and workbooks, Dorian’s reading went up two grade levels — after just 72 hours of instruction.

His mother, Gena Cain, is thrilled with Dorian’s progress but disappointed with his public schools. “With Sylvan, it’s a huge improvement. And they’re doing what they’re supposed to do. They’re on point. But I can’t say the same for the public schools,” she said.

It absolutely amazes me how millions upon millions of our students can get all the way through high school without ever learning how to read, write or speak at a functional level.

Instead of producing the leaders of tomorrow, our education system is producing a bunch of sheep that are trained to take orders and that are pretty good at taking multiple choice tests.

If you want to get really depressed about the future of America, just watch some of the Jaywalking segments that Jay Leno does.  Yes, it is funny to watch as he demonstrates how little Americans actually know about world events.  But it is also a sign of how far our education system has fallen.

If Americans cannot even answer basic factual questions about our own government, then how in the world will anyone ever be able to persuade them to think critically about the Federal Reserve, the economic crisis or about our corrupt political system?

Our children are the future of this nation, and right now that future is looking quite bleak.

So what do all of you think about the U.S. education system?  Do any of you have any education horror stories to share?  Do you believe that our schools have rapidly gone downhill?  Feel free to leave a comment with your thoughts below….

 

 

REVEALED: NSA'S SECRET ORG CHART...

More Fast and Furious guns surface at crime scenes in Mexico...

MYSTERY: Nation's Debt Unchanged - for 87th Straight Day?!

 

9 red flags to be aware of in this market

By John Nyaradi

Multiple fundamental and technical red flags warn investors of potentially stormy seas as we travel through the dog days of summer.

1. Price/earnings ratios for the S&P 500 range from just above fair value to seriously overpriced.

A key indicator as to whether stocks are overvalued is the price/earnings ratio for the S&P 500. On a forward-earnings-estimate basis, the S&P 500 P/E is just over 15, slightly higher than its long-term medium of 14.5.

Many analysts prefer Yale Professor Robert Shiller's system of comparing earnings per share (EPS) with price performance. Using Shiller's formula of averaging earnings over a 10-year time frame, the CAPE (also known as the "P/E 10") is currently 24, roughly 45% above its long-term median of approximately 16, which tells us that stocks are about as expensive as a reasonable investor should be willing to pay.

2. Retail investors, who are traditionally wrong, have been pouring money into the stock market.

As major U.S. indexes stall just below recent all-time highs, retail investors seem convinced that the party will continue forever. They have invested more than $90 billion into the stock market in 2013, which is comparable to levels seen in 2007, just before the last financial crash. This action is a contrarian indicator, as retail investors have historically demonstrated a penchant for buying high and selling low.

3. Margin debt is at near-record levels

Record levels of margin debt often times precede market meltdowns, and today's situation again finds near-record levels of margin debt. High levels of margin debt also preceded previous stock-market crashes in 2000 and 2008.

4. Hindenburg Omens everywhere

Last week saw Hindenburg Omen sightings on four out of five days, and clusters like this tend to add credence to the indicator's reliability. The most recent cluster follows a previous group of sightings that occurred on April 15, May 29, June 4 and June 10.

Hindenburg Omens are wildly controversial; however, confirmed Hindenburg Omen clusters also occurred in July 2007 and October 2007. Those sightings were followed by a greater than 10% decline on the S&P 500 following the July event, and the big waterfall descent in the S&P 500 of more than 55% that began in October 2007.

Going further back in history, we see a Hindenburg Omen preceding the tech-wreck crash in October 2000 when the October Hindenburg Omen came just in front of the 50% S&P 500 and Dow Jones Industrial Average declines that started that same month. A Hindenburg Omen also preceded a 30-percent-plus drop in the S&P 500 in 1987. Furthermore, every stock-market crash going back to 1985 was preceded by a Hindenburg Omen. Only 8% of Hindenburg Omens have not resulted in at least mild declines in the Dow Jones Industrial Average and S&P 500.

5. "Dr. Doom," Marc Faber, adds his warning

Well-known bear Marc Faber added to the warnings last week when he went on CNBC to predict the potential for a 1987-style crash in coming months. Like the Hindenburg Omen, Dr. Faber says that even though the S&P 500 is near all-time highs, there are also a growing number of stocks hitting 52-week lows and fewer stocks reaching 52-week highs which indicates a lack of underlying strength in the market. His overall bottom line is a downturn on the order of 20% in the stock market between now and the end of the year.

6. Tobin's Q, a measurement of long-term value, indicates that the S&P 500 is 53% overvalued

While not a market-timing indicator since markets can stay overvalued for a long time, Tobin's Q indicates that stocks are overpriced on a long-term historical basis

7. Stocks appear to be overbought and overextended on a technical basis

Eighty-eight percent of S&P 500 stocks are currently above their 200-day moving average. Similar levels in the 75%-85% range were also seen in 2007 (85%) before the plunge that took the percentage of stocks above their 200-day moving average down into the one-percet range.

The S&P 500 is currently nearly 10% above its 200-day moving average. This is a level comparable to those preceding previous significant corrections, and many analysts point out that the farther the rubber band is stretched, the more violently it snaps back to mean.

 

9. The dreaded taper and uncertainty at the Federal Reserve

Stock prices have been riding the wave of quantitative easing for nearly half a decade. With the Fed apparently about to taper its bond-buying program, fundamentals will likely again be the determining measure of stock prices, rather than market mania. Just "taper talk" makes markets nervous and so when/if it actually happens, we can expect significant turbulence in global financial markets.

Furthermore, a public battle between hawks and doves at the Federal Reserve is breaking out, and this ambiguity can only add further insecurity to global markets. The "Fed Chairman Guessing Game" is also now well underway, with Larry Summers and Janet Yellen apparently the two top contenders. As the entertainment unfolds, we can expect markets to handicap which candidate will win as they have significantly divergent views regarding the effectiveness of quantitative easing and whether or not it should be continued.

Red flags fly everywhere as global financial markets travel through the dog days of summer. As always, danger arrives hand in hand with opportunity, and the current environment will generate both peril and the potential for profits. Wall Street Sector Selector stands in “red-flag status,”expecting rough water ahead.

 

 

BiG TRouBLe, LiTTLe TaPeR... Posted by : williambanzai7 Post date: 08/13/2013 - BANZAI7 BEVERAGE WARNING!

BiG TRouBLe, LiTTLe TaPeR...




 

.

 

 

.

 

 

The Incredible Shrinking COMEX Gold Warehouse Inventories Posted by: smartknowledgeu Post date: 08/13/2013 - Since the end of last April, registered gold held at the COMEX depositories has collapsed from a total of 2,147,398 ounces to just 852,930 ounces. That is a collapse of 60% of the registered gold...

 

Demise of the USA Posted by: Pivotfarm Post date: 08/13/2013 - For the first time in 2016 according to estimates, the US will not be the most economically-powerful country in the world, but the second since World War II.

 

Michelle Obama releasing rap album...

OBAMA CLOWN BANNED FROM FAIR...

'Shameful' and 'unacceptable'...

Hooting, hollering from stands...

DEMS AGHAST...

 

Benghazi Whistleblower Lawyer: “Stolen” Libyan Missiles Will Be Used to Shoot Down Aircraft

Kurt Nimmo | More evidence CIA is arming its al-Qaeda proxy in Syria with deadly munitions.

 

Snowden: After 9/11, Media Abdicated Its Role as a Check to Power

Paul Joseph Watson | Whistleblower slams establishment press.

 

Report: Michael Hastings Was Investigating CIA Director John Brennan

Paul Joseph Watson | Brennan named as being “behind the witch hunts of investigative journalists”.

 

U.S. Army Conducts Military Occupation Drill in Small Town Wisconsin

Kit Daniels | Operation Tiger emulates military control of local, elected officials.

 

Obama Appoints Fox to Investigate Spying In the Henhouse

Washington’s Blog | Spymaster Clapper to lead investigation into spying

 

Newly Discovered Eighth Grade Exam From 1912 Shows How Dumbed Down America Has Become

American Dream | We have become so “dumbed down” that we don’t even realize what has happened to us.

 

We Are Legion: Anonymous’ Presence in the U.S. Military

Liberty Blitzkrieg | Are we going to see more leaks?

 

They Are Systematically Destroying Our Independence And Making Us All Serfs Of The State

Economic Collapse | The percentage of Americans that are economically independent has dropped to a stunningly low level.

 

They Are Systematically Destroying Our Independence And Making Us All Serfs Of The State

Economic Collapse | The percentage of Americans that are economically independent has dropped to a stunningly low level.

 

How much data the NSA really gets

London Guardian | The NSA claims it ‘touches’ only 1.6% of internet traffic – doesn’t sound a lot. In fact, that’s practically everything that matters.

 

‘Run and hide’ is Obama administration’s clever plan for next school shooting

Daily Caller | The U.S. Department of Education’s “live-shooter” section doesn’t recommend that schools arm teachers or employ armed guards. It doesn’t even advise schools to add door locks for classrooms.

 

Al-Qaeda expands in Syria via Islamic State

Washington Post | A rebranded version of Iraq’s al-Qaeda affiliate is surging onto the front lines of the war in neighboring Syria.

 

Benghazi Whistleblower Lawyer: “Stolen” Libyan Missiles Will Be Used to Shoot Down Aircraft

Kurt Nimmo | More evidence CIA is arming its al-Qaeda proxy in Syria with deadly munitions.

 

Report: Michael Hastings Was Investigating CIA Director John Brennan

Paul Joseph Watson | Brennan named as being “behind the witch hunts of investigative journalists”.

 

U.S. Army Conducts Military Occupation Drill in Small Town Wisconsin

Kit Daniels | Operation Tiger emulates military control of local, elected officials.

 

They Are Systematically Destroying Our Independence And Making Us All Serfs Of The State

Economic Collapse | The percentage of Americans that are economically independent has dropped to a stunningly low level.

 

We Are Legion: Anonymous’ Presence in the U.S. Military

Liberty Blitzkrieg | Are we going to see more leaks?

 

Newly Discovered Eighth Grade Exam From 1912 Shows How Dumbed Down America Has Become

American Dream | We have become so “dumbed down” that we don’t even realize what has happened to us.

 

Republican: House has votes to impeach Obama, but not sure of charges

CNN | Rep. Blake Farenthold said the House could impeach the president.  { Well, don’t just talk about it … Just do it! It’s the best thing to do for GOD and country!  }

 

Bloomberg: ‘There’s a huge run on physical gold right now.’

Bloomberg | Co-founder of commodity trading firm Grafite Capital, remarks that his company bought physical gold eight weeks ago but still hasn’t gotten delivery yet.

 

Crypto-currency for NSA leaker: Snowden fund accepts Bitcoin

RT | US fugitive Edward Snowden’s defense fund, launched recently by WikiLeaks to raise money for the legal protection of the NSA leaker, has announced it now accepts donations in virtual currency Bitcoin.

 

University of California Study: National Debt Is Really $70 Trillion

New American | James Hamilton, an economics professor at the University of California, San Diego, just published his best estimate of the federal government’s “off-balance-sheet” liabilities.

 

Gold Shorts Cover At Fastest Pace In 13 Years

Zero Hedge | Gold shorts covered an enormous 23,518 futures contracts last week – the equivalent of 2,351,800 ounces of gold.

 

 

Goldman: "Without The Boost From Housing, Real GDP Growth Would Fall Below 1% This Year"

Wonder why the Fed and the banks are so desperate to reflate the second housing bubble, to the delight of flippers and taxpayer consequences (deja vu) be damned? Simple: as Goldman points out in a note released last night, "without the boost from housing, real GDP growth would fall below 1% this year." That's the revised GDP by the way, the one that now includes iTunes song sales and underfunded pension plans in the sumtotal. Which in reality means that ex housing, GDP would almost certainly be negative. So the bigger question is what happens to housing which has already seen a shock to the system following the surge in interest rates in the past month and which hobbled both homebuilders and mortgage applications? This is what Goldman sees there: "On house prices, we have started to see the first signs of deceleration and expect a slowdown from the 10%+ pace observed over the past year. Our bottom-up house price model projects 4-5% annual growth rate in the next two years." Alas, since prices moves from top and bottom inflection point never happen in a straight line as everyone rushes to buy, or sell as the case may be, resulting in a skewed and pronounced move, once the reality seeps in that the artificial housing 'recovery' is over, watch what happens when everyone rushes for the door. That goes for GDP as well.

 

 

18 Little-Known Gun Facts That Prove That Guns Make Us Safer

The American people deserve to know the truth about gun control.  Passing strict gun control laws will not make us all safer.  In fact, as you will read about below, even a study conducted at Harvard found that the more guns a nation has the less crime it tends to have.  In other words, there is a very strong positive correlation between more guns and less crime.  This is the exact opposite of what the mainstream media would have us believe, but it makes sense.  You see, the reality is that criminals really, really, really don’t want to get shot.  When you pass strict gun control laws, you take the fear of getting shot away and criminals tend to flourish.  Just look at what is going on in America today.  The places with the highest crime rates are the major cities where strict gun control laws have been passed.  In some of those cities the police are so overwhelmed that they have announced that they simply won’t even bother responding to certain kinds of crime anymore.  The truth is that the government cannot protect us adequately, and that is one reason why millions of preppers are arming themselves and gun sales have been setting new records year after year.  Unfortunately, the mainstream media and many of our politicians seem absolutely obsessed with trying to restrict our constitutional right to own guns.  They are waging a relentless campaign to try to convince the American people that guns are bad.  But is that actually the case?  Of course not.  The following are 18 little-known gun facts that prove that guns make us safer… (Read More.....)

 

Why Are Millions Of Fish Suddenly Dying In Mass Death Events All Over The Planet?

Millions upon millions of fish are suddenly dying in mass death events all over the world, and nobody seems to know why it is happening.  In many of the news reports that are linked to below, locals are quoted as saying that they have never seen anything like this before.  So is there a connection between all of the fish deaths that are now occurring all over the planet?  If there is a connection, is there anything that we can do to stop the fish die-off?  Sadly, because the big mainstream news networks in the United States have been virtually silent about this phenomenon, most Americans have absolutely no idea that it is happening.  Millions of fish are dying in mass death events every single month and most of the public is totally clueless.

Please share the list posted below with as many people as you can.  This list was originally started by Frank DiMora, but I have edited it and expanded it.  If there were just three or four items on this list, you could dismiss these news stories as coincidences, but taken together this list really is quite startling…

-(Read More....)

 

 

Bernanke Just Felt a Chill Down His Spine Posted by: Phoenix Capital... Post date: 08/12/2013 - The “QE generates economic growth” story is officially dead. This will have severe repercussions throughout the financial system.

The Secret GOOD NEWS from Fukushima Posted by: George Washington Post date: 08/12/2013 - 1Nuclear Regulatory Commission Is Using Obviously Faulty Models to Pretend Crumbling Nuclear Reactors Are Safe

 

 

The Color-Coded Comex Crunch: Behind The JPMorgan Golden "Musical Chairs" Scramble

First, it was JPM asking HSBC for assistance and getting a handout of over 6k ounces of gold.

The next day, following a shut out by HSBC, JPM had no choice but to go to the second largest vault, that of Scotia Mocatta and get more than triple times that, or just over 20k ounces.

Today, the Comex gold crunch has gotten so confusing, nothing short of a color-coded schematic can do it justice.

 

 

When It Comes To Internet Porn, The US Is Firmly Ahead Of Everyone

While there are a fair-share of descriptive statistics that show the USA is no longer the "Number 1" that so many believe it to be; Pando Daily put together the following infographic that reveals the Top Ten nations and Top Twenty states that serve up the most illicit content... and the winner is U-S-A! 66% of the pron hosted in the US comes from California and interestingly only 0.62% of all porn sites use the ".xxx" domain name. Of course, hard numbers are tough to come by, but as ExtremeTech illustrates, Xvideos - the largest porn site on the web - gets a stunning 4.4 billion page-views per month - 3x the size of CNN or ESPN. Ironically, the biggest difference is 'duration' - typical news sites are visited for 3 to 6 minutes; while the average time spent on a porn site is between 15 and 20 minutes... Overall, porn websites are estimated to receive a whopping 30% of total internet traffic around the world.

 

 

Presenting Elon Musk's Latest Idea

 

One of these things is an imaginary (but certainly money-losing) idea from a larger-than-life character who appears to live in an alternate fictional universe... the other is The Simpsons' take on 'The Monorail'.

 

 

Why Larry Summers' Ego Matters

'Larry Summers for Fed Chair' proponents are working hard to reverse his generally poor reputation and seem to have gained some ground. They’ve tempted even Fed skeptics with reports that Summers doesn’t believe much in quantitative easing. But his supporters are also making claims that don’t stand up to the facts. Call us old-fashioned, but we think we should be wary of power-hungry egotists whose personal philosophy is to obscure the truth.

 

 

Silver Soars; Stock Bores; Bond Bulls Heading For The Doors

Aside from an opening short-squeeze that saw 'most-shorted' stocks surge 0.8% in the first 15 minutes of the day, stocks did very little for the rest of the day. Ranges were extremely narrow with whatever lift stocks got based on small AUDJPY (carry) sparks but the Dow and S&P end the day red (Nasdaq and Russell 2000 green). Nasdaq was driven by AAPL exuberance (what no a new iPhone model??) which grabbed the Tech sector to the best peformance on the day. Utes were the biggest losers as rates reversed early gains and Treasury yields (especially 30Y) surged 6-7 bps from their per-open low yields. The big story was precious metals as Silver and Gold surged on the day. Silver is now up over 9% in the last 3 days - its best run in 22 months. Interestingly, VIX was pushed notably lower on the day (but it appears investors are moving hedges further out in time - to September). Credit notably underperformed. Today was all about pre- and post-Europe (as normal).

 

 

Mark Spitznagel Warns Of Investors' Grave Risk To Themselves

The U.S. stock market’s return to nominal all-time highs amid artificial zero interest rates is sending yield-hungry investors down a dangerous path, one they hope will continue to lead to quick and easy returns. Such pursuits ignore a reality grounded in some of the oldest human wisdom, dating back 25 centuries to the Daoist sages of ancient China, who eschewed the direct in favor of the indirect - the roundabout that leads to better strategic advantage. No matter how appealing the direct path, it will likely not best take us where we want to go. Most often it leads only to loss - the hare ultimately loses to the accelerating, roundabout tortoise.

 

 

Phantom Markets Part 1: Why The TBAC Is Suddenly Very Worried About Market Liquidity

Perhaps the best source of real, actionable financial information, at least as sourced by Wall Street itself, comes in the form of the appendix to the quarterly Treasury Borrowing Advisory Committee (TBAC, aka the Goldman-JPM chaired supercommittee that really runs the world) presentation published as part of the Treasury's refunding data dump. These have informed us in the past about Goldman's view on floaters, as well as Credit Suisse's view on the massive and deteriorating shortage across "high quality collateral." This quarter was no different, only this time the indirect author of  the TBAC's section on fixed-income market liquidity was none other than Citi's Matt King, whose style is well known to all who frequent these pages simply because we cover his reports consistently. The topic: liquidity. Or rather the absolute lack thereof, despite what the HFT lobby would like.

 

 

Cristina Fernandez Wants You To Have An Erection

This one is too ridiculous to not pass along. I’ve long written that desperate governments try to ‘control’ everything as they slide into insolvency. They impose capital controls, exchange controls, wage and price controls, gun controls, border controls, and more. But the government of Argentina has really taken this to another level. Their latest stunt? Manufacturing Viagra at a state-owned pharmaceuticals company... and giving it out for free to the people.  It’s the ultimate reminder of how absurd government control can be when things get really desperate. They reach a certain point where, after capital controls, gun controls, wage and price controls, etc., the only controls left to implement are people controls.

 

 

Five Years Later, Fed Finds QE Has "At Best, Moderate Effects On Economic Growth"

In a somewhat stunning revelation from the masters-of-money-printing, the SF Fed (whose former head is none other than alleged Fed chairwoman frontrunner Janet Yellen) has found that "asset purchase programs like QE appear to have, at best, moderate effects on economic growth and inflation." One has to wonder why this sudden change of heart? Perhaps to pave the way for the less-than-enamored-with-QE Larry Summers' arrival... as we noted previously his views that “QE is less efficacious for the real economy than most people suppose."  Or maybe this is a way for Ms. Yellen, to ingratiate herself with the president by indirecly toning down expectations she would go "feral hog" on the CTRL-P button? In any case, markets appear a little concerned at this rising Fed canon of removing the liquidity spigot despiet the all-time-highs in stocks.

 

 

Guest Post: The New, Improved 1984

George Orwell's prescient book 1984 envisioned a technologically-enabled authoritarian state of ubiquitous surveillance, propaganda and fear that constantly rewrote history to suit the needs of the present regime. Welcome to the new, improved 1984, America 2013. Ubiquitous surveillance: check. Ubiquitous propaganda extolling the state and central bank: check. Perpetual fear-mongering: check. Perpetual war against an unseen enemy who can never be defeated: check. Police state with essentially unlimited powers to suppress "enemies of the state": check. Continual revision of history to support the current party line: check. However, Orwell underestimated the power of complicity; once you get a check from the state, you begin loving your servitude.

 

 

Breaking Ben

 

 

Monday Humor: The Gappiest Place On Earth

"Mommy, we're on vacation. We're here to have fun. This is not what we expected," was the comments from kids after luxury resort condos crumbled into a massive sinkhole a few miles from of Disney World. About 30% of the three-story structure collapsed into the sinkhole - which is about 50 feet in diameter and 15 feet deep. Luckily among the 24 units, only 20 people were present (perhaps an nsight into the real economy on its own), and with only 10 to 15 minutes to escape the cracking, collapsing building, it is good fortune that no one was injured.

 

 

Don't Tell Ackman, But Market Sees 13% Chance JCP Doesn't Make It Past Christmas

The last few days have seen JCPenney's saga take a decided turn for the worse - if that's possible. With the stock price EKG-ing on every utterance from a CNBC mouthpiece, a desperate hedge fund manager, or a board looking to remain relevant; it seems - as usual - that credit markets not only saw through the news but remained stoic in their cash-flow-discounting reality check. Critically, the last few days have seen the short-end of the JCP CDS curve surge and the term structure has inverted. At current levels, the credit market assigns a 13% probability that JCP will default by March 2014. Not good... It is extremely unusual (though not unprecedented) for a credit to 'recover' from an inversion such as this.

 

 

Is The Bank Of England The Worst Central Bank In Europe?

The Bank of England has missed its inflation target more than any other major European central banks in the past five years. As Bloomberg Brief notes, while BOE Governor Mark Carney linked monetary policy to unemployment last week, the BOE has failed to meet its CPI goal 90 percent of the time. Hungary is the second-worst performing, having missed its target 88 percent of the time. The best performers have been the Swiss and Norwegian central banks, which have a 5 percent and 20 percent miss rate, respectively. To rub further salt into the open wound of hope in the UK, it has also had the largest average deviation from its target inflation rate overall.

 

 

Zimbabwe's Mugabe Tells Critics To 'Go Hang'

When it comes to political rhetoric, no one can top the un-filtered awesomeness of 89-year-old Robert "we are delivering democracy on a platter" Mugabe. Following his 61% of the vote winning election at the end of July, Sky News reports that Mugabe's first public speech was full of his typically defiant pith. He dismissed his defeated "western-sponsored stooge" rivals as "pathetic puppets" that can "go hang," adding a particularly downbeat assessment that "if they die, not even dogs will sniff them." Mr. Tsangviri - the dog-despised opposition - is challenging the poll vowing to expose "glaring evidence of the stolen vote," as the renewed leader celebrates Heroes Day - the end of white minority rule (pledging that Zimbabwe will never be a colony of Britain) and ironically for the hyperinflater, Mugabe stated that he will " Never give thieves the power to rule."

 

 

 

 

BlackBerry, Vical, Steinway, Alliance One, Zoltek

online.wsj.com | U.S. stocks traded mixed Monday as the Dow Jones Industrial Average recently lost 18 points to 15407.



University of California Study: National Debt Is Really $70 Trillion

Bob Adelmann | Enormous sacrifices from future taxpayers. ‘…According to the ITF, the real national debt is, at the moment, $74.3 trillion, and counting.

Even that number may be too small to reflect accurately the promises made versus the revenues expected to fund them. Boston University professor Laurence Kotlikoff was interviewed in February and was asked by his host:

You’re the one who stated that America is rogue and in even worse shape than Greece and Ireland. How so? What exactly do you mean by that?

Kotlikoff: We economists look at all the bills the government has to pay, and in the US case we have enormous bills that have been kept off the books….

Host: You said the amount of the fiscal gap in the United States is, in your estimation, $222 trillion. This is an astonishing number, which is like three times the world’s GDP. This is more than what the world makes!

Kotlikoff: If you add all the spending obligations into the distant future and you compare them with all the taxes, and you include in the spending all the interest payments … you have $222 trillion of present value….

This is why we are in worse shape that Greece….

Host: So are they intentionally hiding the enormity of it?

Kotlikoff: They’re intentionally hiding this. They’ve been spending in our country [for] six decades, running a massive Ponzi scheme, taking from young people, giving to old people, and then telling the young people, “Don’t worry, you’ll get yours when you’re old,” promising pensions, promising healthcare benefits.

The study by Professor Hamilton from the University of California, San Diego, serves as a reminder that, as the debt ceiling draws ever closer, the discussion bound to take place will have little do with the reality of what the federal government actually owes. That discussion, expected to begin when Congress reconvenes after Labor Day, will be a sideshow, distracting attention from the real issue: The U.S. government is broke and its promises won’t be kept.

A graduate of Cornell University and a former investment advisor, Bob is a regular contributor to The New American magazine and blogs frequently at www.LightFromTheRight.com, primarily on economics and politics. He can be reached at badelmann@thenewamerican.com  …’



Teens Face Worst Labor Market

The Wall Street Journal | Teenagers have had the hardest time out of all age groups.

 

Amash: NSA Docs Were Withheld From Congress By Higher Ups

Steve Watson | Intelligence Committee has repeatedly failed to share key information; “oversight” justification for spy program legality is now laughable.

 

Obama Supporters Sign Petition Calling For Killing Newborn Babies Under Obamacare

Paul Joseph Watson | Infanticide is now being seriously proposed by some in medical establishment.

 

Official: Embassy Attack Threat “Had No Basis in Fact”

Paul Joseph Watson | Terror plot manufactured to dampen opposition to drone strikes.

 

Former NSA boss: Government will continue surveillance, so get used to it

Kurt Nimmo | Terror war supporters take Obama to the woodshed over his promise to “reform” pervasive NSA abuse.

 

 

‘Stop and frisk’ police tactic violated constitutional rights, federal judge says

NBC News | The NYPD’s “stop and frisk” tactic has violated constitutional rights, a federal judge ruled Monday.

 

Political leaders condemn state fair event featuring ‘Obama’ chased by a bull

STL Beacon | A clown wearing a mask of President Barack Obama was chased by a bull at the Missouri State Fair’s rodeo, prompting an apology Sunday by fair officials.

 

Worse than Bush: Obama fills key government positions in agriculture and trade with biotech execs

Natural News | Anyone who still supports the usurper-and-cheat Obama based on his agriculture “policies” has apparently not been paying any attention whatsoever to reality.

 

Forget Apology: Eric Holder Owes The American People A Resignation

Zero Hedge | What he really owes is at least a resignation, and frankly much more.  { Aw … come on … he’s just a typical nigger … and as such, you can’t apply rational civilized standards of behavior, especially those that comport with law … after all, the niggers among other american criminals are all in it together, typical obama/nigger bull s***/rhetoric aside … shhhh…don’t say a word … everyone’s afraid to offend the archaic neanderthalic niggers … }

 

Zero Hedge
August 12, 2013

Bloomberg’s Jon Weil, who has compiled the following stunning array of lies regarding the DOJ’s enforcement activity disclosed by none other than its head, Eric Holder, is far too kind when he says that the “fast and furious” Holder owes the American people an apology. What he really owes is at least a resignation (and frankly much more, but it is too early on Monday to become too politically incorrect). And considering that the DOJ in its now former employee Lanny Brauer’s words refused to prosecute those banks which were deemed “too big to prosecute”, the lying here has now became a meta phenomenon, as the DOJ is effectively caught lying about lying. How many more meta levels of higher up fraud “inception” can Holder take this, before the American people finally demand his head, metaphorically-speaking of course? Sadly, judging by the response to unprecedented scandals coming out of this administration so far, the answer is… more.

From BBG’s Jonathan Weil:

Eric Holder Owes the American People an Apology

The Justice Department made a long-overdue disclosure late Friday: Last year when U.S. Attorney General Eric Holder boasted about the successes that a high-profile task force racked up pursuing mortgage fraud, the numbers he trumpeted were grossly overstated.

We’re not talking small differences here. Originally the Justice Department said 530 people were charged criminally as part of a year-long initiative by the multi-agency Mortgage Fraud Working Group. It now says the actual figure was 107 — or 80 percent less. Holder originally said the defendants had victimized more than 73,000 American homeowners. That number was revised to 17,185, while estimates of homeowner losses associated with the frauds dropped to $95 million from $1 billion.

The government restated the statistics because it got caught red-handed by a couple of nosy reporters. Last October, two days after Holder first publicized the numbers, Phil Mattingly and Tom Schoenberg of Bloomberg News broke the story that some of the cases included in the Justice Department’s tally occurred before the initiative began in October 2011. At least one was filed more than two years before President Barack Obama took office.

After their initial story, I asked a Justice Department spokeswoman, Adora Andy, several times over the course of a month for a list of the people charged and their case details so I could look them up myself. She promised repeatedly to provide one, until she finally stopped responding to my requests.

Her e-mails to me were priceless. On Oct. 19, Andy said: “We’ll have a list to you — it will take some time to pull it together.” On Oct. 26, she said: “You will get a list,” explaining that “this is a labor-intensive process.” On Nov. 5, she said: “It looks like we should have the list to you by the end of the week if not sooner.” On Nov. 13: “Hold tight. Finalizing things on this end. Should have something to you tonight.” Again, no list. “I assure you I’m working as hard as I can to get this to you along with the lead agency on this matter, FBI,” she said later that same day. “It’s just very laborious with so much going on and so little staff.”

My column about the Justice Department’s refusal to come clean ran a few days later last fall. And it seems obvious now why I wasn’t given the list. The government would have been handing me the proof that the numbers it was touting were wrong.

In an updated press release Friday, which corrected its initial release of last October, the Justice Department said a review of the cases found that the inflated figures included defendants who had been sentenced or convicted in fiscal year 2012 — not just people who had been criminally charged, as originally reported. Its original, lofty tally also included cases in which the victims weren’t distressed homeowners.

As a result, the announcement overstated the number of defendants that should have been included as part of the Distressed Homeowner Initiative, as well as the corresponding estimated loss amount and number of victims,” the Justice Department said.

When Holder first trotted out these figures last October, he bragged during a press conference about the results of the government’s “Distressed Homeowner Initiative,” which he called “a groundbreaking, yearlong mortgage-fraud enforcement effort” and “the first ever to focus exclusively on crimes targeting homeowners.” Secretary of Housing and Urban Development Shaun Donovan joined him at the press conference.

What a charade. No wonder the government found it so difficult to bring a meaningful number of accounting-fraud cases against bank executives after the financial crisis. Its own books were cooked.

* * *

This was the second time, mind you, that Holder’s Justice Department had pulled a stunt like this. In December 2010, Holder held a press conference to tout a supposed sweep by the president’s Financial Fraud Enforcement Task Force called “Operation Broken Trust.” (The mortgage-fraud program was part of the same task force.) As with the mortgage-fraud initiative, Broken Trust wasn’t actually a sweep. All the Justice Department did was lump together a bunch of small-fry, penny-ante fraud cases that had nothing to do with one another. Then it held a press gathering.

Read on here

Related posts:

  1. Eric Holder perjured himself in lie about AP – DOJ intimidation scheme
  2. Eric Holder to testify on Fast and Furious
  3. Rush Limbaugh: Eric Holder invested in George Zimmerman trial being seen as racism
  4. Two more congressmen hit Holder for Fast and Furious, 120 now want resignation
  5. Huffington Post: Time for Eric Holder to go

This article was posted: Monday, August 12, 2013 at 11:20 am

 

 

 

Gold Shorts Cover At Fastest Pace In 13 Years

Zero Hedge | Gold shorts covered an enormous 23,518 futures contracts last week – the equivalent of 2,351,800 ounces of gold.

 

First dog Bo is airlifted to Obama holiday home

London Telegraph | When President Barack Obama goes on holiday to the seaside things can get complicated.

 

NSA Spying Costing US Companies Billions and American Job Loss

Daniel G. J. | The massive surveillance efforts being conducted by agencies like the NSA are not just illegal, immoral, and unconstitutional; they could be seriously damaging our economy.

 

With all the extreme government corruption these days, why are people still supporting the system with money?

Natural News | Will Americans ever wake up and actually resist the powers that are enslaving them?

 

IRS Refuses to Answer Congressman on AR-15s for ‘Standoff Capability’

Paul Joseph Watson | “Do they need a SWAT team to make sure you’ve paid your taxes?”

 

Official: Embassy Attack Threat “Had No Basis in Fact”

Paul Joseph Watson | Terror plot manufactured to dampen opposition to drone strikes.

 

Amash: NSA Docs Were Withheld From Congress By Higher Ups

Steve Watson | Intelligence Committee has repeatedly failed to share key information; “oversight” justification for spy program legality is now laughable.

 

Obama Supporters Sign Petition Calling For Killing Newborn Babies Under Obamacare

Paul Joseph Watson | Infanticide is now being seriously proposed by some in medical establishment.

 

DPS Trooper Who Performed Roadside Cavity Search Gets Her Job Back

Julie Wilson | DPS director plans to “re-familiarize” his officers with the department’s policy on roadside cavity and strip searches.

 

Former NSA boss: Government will continue surveillance, so get used to it

Kurt Nimmo | Terror war supporters take Obama to the woodshed over his promise to “reform” pervasive NSA abuse.

 

Man says off-duty cops beat him up, left him for dead

Adan Salazar | Man says he was “on the verge of death.”

 

IRS Refuses to Answer Congressman on AR-15s for ‘Standoff Capability’

Paul Joseph Watson | “Do they need a SWAT team to make sure you’ve paid your taxes?”

 

Why Are So Many People Choosing To Leave The United States Permanently?

Economic Collapse | Have things gotten so bad that it is time to leave the United States for good?

 

Billionaire Issues Chilling Warning About Interest Rate Derivatives

Will rapidly rising interest rates rip through the U.S. financial system like a giant lawnmower blade?  Yes, the U.S. economy survived much higher interest rates in the past, but at that time there were not hundreds of trillions of dollars worth of interest rate derivatives hanging over our financial system like a Sword of Damocles.  This is something that I have been talking about for quite some time, and now a Mexican billionaire has come forward with a similar warning.  Hugo Salinas Price was the founder of the Elektra retail chain down in Mexico, and he is extremely concerned that rising interest rates could burst the derivatives bubble and cause "massive bankruptcies around the globe".  Of course there are a whole lot of people out there that would be quite glad to see the "too big to fail" banks go bankrupt, but the truth is that if they go down our entire economy will go down with them.  Our situation is similar to a patient with a very advanced stage of cancer.  You can try to kill the cancer with drugs, but you will almost certainly kill the patient at the same time.  Well, that is essentially what our relationship with the big banks is like.  Our entire economic system is based on credit, and just like we saw back in 2008, if the big banks start failing credit freezes up and suddenly nobody can get any money for anything.  When the next great credit crunch comes, every important number in our economy will rapidly start getting much worse.
(Read More....)

The big banks are going to play a starring role in the next financial crash just like they did in the last one.  Only this next crash may be quite a bit worse.  Just check out what billionaire Hugo Salinas Price told King World News recently...

I think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis. This is going to bring down the derivatives system (and the financial system).

There are (over) one quadrillion dollars of derivatives and most of them are related to interest rates. The spiking of interest rates in the United States may set that off. What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe.

What is going to be left after the dust settles is gold, and some people are going to have it and some people are not. Then the problem is going to be to hold on to what you’ve got because it’s not going to be a very pleasant world.

Right now, there are about 441 trillion dollars of interest rate derivatives sitting out there.  If interest rates stay about where they are right now and they don't go much higher, we will be fine.  But if they start going much higher, all bets will be off and we could see financial carnage on a scale that we have never seen before.

And at the moment the big banks have got to behave themselves because the government is investigating allegations that they have been cheating pension funds and other investors out of millions of dollars by manipulating the trading of interest rate derivatives.  The following is from an article that the Telegraph posted on Friday...

The Commodity Futures Trading Commission (CFTC) is probing 15 banks over allegations that they instructed brokers to carry out trades that would move ISDAfix, the leading benchmark rate for interest rate swaps.

Pension funds and companies who invest in interest rate derivatives often deal with banks to insure against big movements in the ISDAfix rate or to speculate on changes to interest rate swaps

ISDAfix is published each morning after banks submit bids for swaps via Icap, the inter-dealer broker, in a number of currencies. The CFTC has been investigating suggestions that the banks deliberately moved the rate in order to profit on these deals.

Given the hundreds of trillions of dollars worth of interest rate derivatives trades that occur annually, even the slightest manipulation can have a substantial effect. The CFTC, which started to investigate ISDAfix after last summer’s Libor scandal has now been handed emails and phone call recordings that show the rate was deliberately moved, according to Bloomberg.

Essentially they got their hands caught in the cookie jar and so they have got to play it straight (at least for now).

Meanwhile, it looks like the Fed may not be able to keep long-term interest rates down for much longer.

The Federal Reserve has been using quantitative easing to try to keep long-term interest rates low, but now some officials over at the Fed are becoming extremely alarmed about how bloated the Fed balance sheet has become.  For example, the following was recently written by the head of the Dallas Fed, Richard Fisher...

This later program is referred to as quantitative easing, or QE, by the public and as large-scale asset purchases, or LSAPs, internally at the Fed. As a result of LSAPs conducted over three stages of QE, the Fed’s System Open Market Account now holds $2 trillion of Treasury securities and $1.3 trillion of agency and mortgage-backed securities (MBS). Since last fall, when we initiated the third stage of QE, we have regularly been purchasing $45 billion a month of Treasuries and $40 billion a month in MBS, meanwhile reinvesting the proceeds from the paydowns of our mortgage-based investments. The result is that our balance sheet has ballooned to more than $3.5 trillion. That’s $3.5 trillion, or $11,300 for every man, woman and child residing in the United States.

Fisher has compared the current Fed balance sheet to a "Gordian Knot", and he hopes that the Fed will be able to unwind this knot without creating "market havoc"...

The point is: We own a significant slice of these critical markets. This is, indeed, something of a Gordian Knot.

Those of you familiar with the Gordian legend know there were two versions to it: One holds that Alexander the Great simply dispatched with the problem by slicing the intractable knot in half with his sword; the other posits that Alexander pulled the knot out of its pole pin, exposed the two ends of the cord and proceeded to untie it. According to the myth, the oracles then divined that he would go on to conquer the world.

There is no Alexander to simply slice the complex knot that we have created with our rounds of QE. Instead, when the right time comes, we must carefully remove the program's pole pin and gingerly unwind it so as not to prompt market havoc. For starters though, we need to stop building upon the knot. For this reason, I have advocated that we socialize the idea of the inevitability of our dialing back and eventually ending our LSAPs. In June, I argued for the Chairman to signal this possibility at his last press conference and at last week’s meeting suggested that we should gird our loins to make our first move this fall. We shall see if that recommendation obtains with the majority of the Committee.

But of course it should be obvious to everyone that the Fed is not going to be able to reduce the size of its balance sheet without causing huge distress in the financial markets.  A few weeks ago, just the suggestion that the Fed may eventually begin to slow down the pace of quantitative easing caused the markets to throw an epic temper tantrum.

Unfortunately, the Fed may not be able to keep control of long-term interest rates even if they continue quantitative easing indefinitely.  Over the past several weeks long-term interest rates have been rising steadily, and the yield on 10 year U.S. Treasuries crept a bit higher on Monday.

At this point, many on Wall Street are convinced that the bull market for bonds is over and that rates will eventually go much, much higher than they are right now no matter what the Fed does.  The following is an excerpt from a recent CNBC article...

The Federal Reserve will lose control of interest rates as the "great rotation" out of bonds into equities takes off in full force, according to one market watcher, who sees U.S. 10-year Treasury yields hitting 5-6 percent in the next 18-24 months.

"It is our opinion that interest rates have begun their assent, that the Fed will eventually lose control of interest rates. The yield curve will first steepen and then will shift, moving rates significantly higher," said Mike Crofton, President and CEO, Philadelphia Trust Company told CNBC on Wednesday.

If the yield on 10 year U.S. Treasuries does hit 6 percent, we are going to have a major disaster on our hands.

Hugo Salinas Price is exactly right - the derivatives bubble is the number one threat that our financial system is facing, and it could potentially bring down a whole bunch of our big banks.

But for the moment, Wall Street is still in a euphoric mood.  The Dow is near a record high and many investors are hoping that this rally will last for the rest of the year.

Unfortunately, I wouldn't count on that happening.  The truth is that the stock market has become completely divorced from economic reality.

Since March 2009, the size of the U.S. economy has grown by approximately $1.3 trillion, but stock market wealth has grown by an astounding $12 trillion.

And the stock market has just kept on rising even though GDP growth forecasts have been steadily falling.

It doesn't make any sense.

But Obama, Bernanke and the wizards on Wall Street assure us that there is no end to the party in sight.

Believe them at your own peril.

The people at the controls are completely and totally clueless and we are rapidly careening toward disaster.

Perhaps we should do what one little town in Minnesota did and put a 4-year-old kid in charge.

That kid certainly could not be much worse than our current leadership, don't you think?

 

 

During The Best Period Of Economic Growth In U.S. History There Was No Income Tax And No Federal Reserve

How would America ever survive without the central planners in the Obama administration and at the Federal Reserve?  What in the world would we do if there was no income tax and no IRS?  Could the U.S. economy possibly keep from collapsing under such circumstances?  The mainstream media would have us believe that unless we have someone "to pull the levers" our economy would descend into utter chaos, but the truth is that the best period of economic growth in U.S. history occurred during a time when there was no income tax and no Federal Reserve.  Between the Civil War and 1913, the U.S. economy experienced absolutely explosive growth.  The free market system thrived and the rest of the world looked at us with envy.  The federal government was very limited in size, there was no income tax for most of that time and there was no central bank.  To many Americans, it would be absolutely unthinkable to have such a society today, but it actually worked very, very well.  Without the inventions and innovations that came out of that period, the world would be a far different place today. (Read More....)

 

 

STARED DOWN BY SNOWDEN

Number of Americans Renouncing Citizenship Surges...
EXIT TAX...

Food-Stamp Use Rises...

DEM: WE'VE GOT VOTES IN HOUSE TO PASS AMNESTY!
OBAMA: 'Absolutely certain'...
Majority of House support 'DREAM Act'...
ZUCKERBERG GROUP DEFENDS PAUL RYAN...
Illegals target GOP in town halls...
Reid: 'If we go to conference, we will win'...
Americans Sign Petition To Let Illegals Out Of Prison, No Matter What Crimes They Committed...

Russian minister tells US to behave 'like grown-ups'...

 

 

Indiana School Offers Free School Supplies in Exchange for Vaccinations

Julie Wilson | Children that get immunized receive crayons, pencils and jump drives.

 

Seattle Journalist Threatened with Arrest, Workplace Harassment for Filming Police

Adan Salazar | Cops under investigation for violating reporter’s rights.

 

Police Are Now Entering and Inspecting Homes to “Prevent Crimes”

Kit Daniels | Landlords in Texas are allegedly allowing police inside homes for “inspections.”

 

Politicians Given Invisible License Plates to Avoid Fines

Infowars.com | There are rules for the common people and rules for their “leaders.”

 

Tulsa Police Department: “No Thin Blue Line Here”

Julie Wilson | Former Tulsa cop sentenced to 35 years for robbing Hispanic motorists on duty.

 

Americans Sign Petition To Let Illegals Out Of Prison, No Matter What Crimes They Committed

Steve Watson | Public supports letting murderers, rapists and thieves back on the streets.

 

Feinstein: You’re Not a Real Journalist Unless You Draw a Salary

Kurt Nimmo | Democrat wants to exclude bloggers and alternative media from constitutional protection.

 

CIA Sued Over Whether Top Secret Info Helped Hollywood Directors Make “Pro-Obama” Film

Paul Joseph Watson | Did White House jeopardize national security while prosecuting whistleblowers?

 

"Hello HSBC, This Is JPMorgan - We Urgently Need Some Of Your Gold"

What happens when 63.5K ounces of registered gold in your warehouse (16% of total) just has their warrants detached and the vault is about to finds itself 63.5k ounces of gold emptier? If you are JPM you call the gold vault with most inventory in town, that of HSBC, and politely request that they transfer as much eligible gold as they can on short notice - in this case a tiny 6,444.936 oz to be exact. None of which changes the fact that in a few days, the inventory in JPM's gold vault will drop to another record low of only 380K ounces and the JPM "rescue" pleas from HSBC and other Comex members will become ever louder and more desperate until one day they may just go straight to voicemail.

 

 

Obama Says He’ll “Reform” NSA Spying … Should We Believe Him? Posted by : George Washington Post date: 08/09/2013 - “Who You Are Speaks So Loudly I Can’t Hear What You’re Saying”

 

Europe's Crisis Will Be Back Soon Posted by: Phoenix Capital... Post date: 08/09/2013 - Could it be coincidence that the worst Crisis in years suddenly went away right as the women with her finger on the “bailout” button needed to convince German voters that she’s doing a great...

 

 

 

TiLT: THe CHiLLiNG DeFeCT... Posted by: williambanzai7 Post date: 08/09/2013 - The constitutional legacy of Barrack Moebama (Der FUBAR).

TiLT: THe CHiLLiNG DeFeCT...

*   First Amendment

 


.

 

Full Article:  http://www.jstor.org/discover/10.2307/1121147?uid=3738176&uid=2129&uid=2...

 

.

Professor Moebama and his Neo-Fascist Zombie Corpse, in the finest tradition of Goebbels-speak, aspire to twist this constitutional term of art by asserting that the Manning case will have a chilling effect, not on the unfettered exercise of the First Amendment (for example in the form of secure email communications between journalists and whistle blowers), but on Der FUBAR's ability to conduct foreign relations.

This kind of twisted constitutional terrorism will be remembered as a cornerstone of the fascist legacy of Barrack Moebama (Heil FUBAR!)
.

 

 

I wonder what Justice Brennan would think about this...

.

 

 

And in case you are wondering what kind of delusive thinking is driving the Zombie Corpse.

Look at this...

.

And speaking of delusive thinking...

.

 

So here it is...the Banzai7

.

.

 

 

.

 

On the Nature of Creeping Fascism

“And one day, too late, your principles, if you were ever sensible of them, all rush in upon you. The burden of self-deception has grown too heavy, and some minor incident, in my case my little boy, hardly more than a baby, saying ‘Jew swine,’ collapses it all at once, and you see that everything, everything, has changed and changed completely under your nose. The world you live in – your nation, your people – is not the world you were born in at all. The forms are all there, all untouched, all reassuring, the houses, the shops, the jobs, the mealtimes, the visits, the concerts, the cinema, the holidays. But the spirit, which you never noticed because you made the lifelong mistake of identifying it with the forms, is changed. Now you live in a world of hate and fear, and the people who hate and fear do not even know it themselves; when everyone is transformed, no one is transformed.”

Excerpt from: They Thought They Were Free, Milton Mayer

 

 

Gold Collateral Situation: "It's Very Complicated"

... what has been different about the current negative GOFO episode is that while in the past GOFO spiked negative and promptly reverted to normal, short-end GOFO rates (1-3 Month) have been negative now for the longest period on record: 25 consecutive work days. And it's only getting worse: after the 6 Month GOFO rate also slid below 0% in mid-July, only to recover positive for the next two weeks, as of today it has again turned negative for the second day in a row while the short-end procurement situation has gone from bad to worse.

 

 

The Great Rotation... Into Poland?

 

Inflows into equity funds around the world have been presented as the driver of the next leg higher in this 'secular' bull market. As liquidity slooshes around the world (as David Stockman so eloquently described) there is nothing but hot money chasing what 'worked' not what will work... or, as investors have now been conditioned to do, BTFD. US asset gatherers' dissonance is high as they know the pillars of their 'just keep buying' thesis remain wobbly at best (and broken in all honesty) but flows (aside from the fact that retail appears to have just folded) are holding hope ransom for now (oh and the money-on-the-sidelines idiocy meme - buyer meet seller). So what nation saw the largest relative equity fund inflows in the world?

 

 

Video Of The Day: "Operation Everyone Talk Like A Terrorist"

The folks at Funny or Die have come up with an ingenious solution to render the NSA’s spy program useless. Operation: Everyone Talk Like a Terrorist All the Time. It makes a lot of sense, especially since the government already clearly considers everyone with the ability to think critically a potential “domestic terrorist.” Short video and really funny. Enjoy!

 

 

Visualizing The Collapse In US Job Security

Day after day we are blessed with media prognostications on the employment data. We are incessantly fed 'facts' and data that shows how great this recovery is but more still needs to be done (so please don't taper quite yet). We have been vociferous in the exposure of facts about the 'quality' versus 'quantity' of jobs in the 'recovery' but there is another sentiment-sapping angle to the employment environment in the US. As Bloomberg's Rich Yamarone notes, the number of people with a job that were not at work in June or July because they were on vacation fell to 11.2 million this year from 11.59 million a year ago, a far cry from the 13.5 million vacationers in 2008 just prior to the Great Recession. Workers may be too uneasy with their situations to take off and enjoy the summer. Perhaps the need for a living real disposable personal income has kept them at their desks longer this year.

 

 

The Week That Was: August 5th - 9th 2013

Succinctly summarizing the positive and negative news, data, and market events of the week...

 

 

Peter Schiff On The Half Full Economy

 

The marginal economic strength that was described in the most recent GDP release from Washington has caused many to double down on their belief that the Federal Reserve will begin tapering Quantitative Easing sometime later this year. While some believe that is a fantasy given our economy's extreme dependence on QE, market observers should have learned long ago that the Bureau of Economic Analysis (BEA) initial GDP estimates can't be trusted. A perusal of their subsequent GDP revisions in the last five years reveals a clear trend: They are almost twice as likely to revise initial estimates down rather than up, and the downward adjustments have been much larger on average. As a result of this phenomenon, an overall optimism has pervaded the economic discussion that has consistently been unfulfilled by actual performance. The government is continuously over promising and under delivering. Unfortunately, no one seems to care.

 

 

 

Trickle Down Hunger

 

Presented with no comment...

 

 

Fourth Hindenburg In Five Days Closes Dow Near Worst Week Of The Year

For the 4th day this week new highs, new lows, advancers and decliners flashed an angst-prone market and triggered a Hindenburg Omen. A glimpse at Treasuries close-to-close from Friday and one might think it was a quiet week (though 30Y rallied 5bps the rest of the curve ended only modestly lower in yield) but in every other asset-class, the 'Taper' talk sent levered momo running for the exits... with JPY's 2nd strongest week in 4 years the main carry-unwind driver.

 

 

Presenting The Latest In Government Oppression...

It just never stops...

 

 

Is This The Time To BTFATH?

 

At 4.4 years old, the post-March 2009 rally is already older than both the post-World War II and post-1900 bull market averages of 4.2 years and 3.5 years, respectively. In addition, the Dow's 136% rally off of the March 2009 low close now exceeds the post-World War II average of +128%, and falls just shy of the post-1900 average of +141%. As is clear from the chart below, the US equity market's post-March 2009 rally is close to being on the verge of becoming an outlier... so BTFATH?

 

 

Friday Humor: "Pastafarianism" And The Church Of The Flying Spaghetti Monster

In what some would call a victory for free speech, Lukas Novy, a follower of the Church of the Flying Spaghetti Monster, has been granted permission to wear a sieve on his head in his official ID card. As Prague Daily reports, Novy explains that the plastic kitchenware is a crucial part of his "Pastafarianism" faith. Officials, who initially denied his request, were swayed by his commitment to "His Noodliness," agreeing that this fits in with laws that allows Czech citizens to wear headgear for religious or medical reasons. Think that is 'humorous', look at a chart of TSLA... or listen to any recent 'Abe' speech...

 

 

Better Bargains, Hocking Homes, And Rancored At Russians - Obama Press Conference Live Webcast

President Obama is due to answer some supposedly unprepared questions from a press-corps not 'specifically' benefiting from his questions at 1500ET. From 'pissed-off about Putin' to flogging the American Dream once again and the wide-spread closure of US embassies... we are sure there'll be some interesting off-teleprompter comments for all...

 

 

Larry Summers' Chairman Odds Soar To 66.6%, Double Yellen's

Do you see what happens Larry when you float a strategic trial balloon or two? Your odds literally surge, at least according to Irish bookmaker Paddy Power, which in the absence of InTrade has become the only market polling venue where pundits put money where their mouth is (as opposed to countless clueless Op-Eds written by every self-proclaimed Fed expert in existence). Where two weeks ago, on July 24, Larry "the hawk" Summers was a long 20% odds challenger to Janet Yellen, who was a solid 75% favorite to become the next Fed chair, since then Yellen's odds have crumbled to just 33% currently, while Summers has exploded higher and after peaking at 60% two days ago has climbed even higher, and is a 66.6% (appropriately enough) favorite currently. Time for the perma-Doves to panic yet?

 

 

"The Rich Get Richer" Million-Dollar McMansion Sales Rise 37% YoY

"The rich are feeling better about their prospects and starting to rediscover real estate as a place to park money," notes one analyst who was seemingly not alive 7 years ago, adding, "the stock market has created a tremendous amount of wealth, and that's being put into homes." It seems we are destined to 'never' learn that too much of a good thing might just not be... a good thing. Following President Obama's homeownership is patriotic roadshow this week and his almost too ironic to be real comments that the U.S. has "got to turn the page on this kind of bubble-and-bust mentality that helped to create this mess in the first place," it appears we have gone perfectly 360 as once again home prices for the wealthiest are soaring. Homes priced at more than $1 million lost about 46% of their value during the housing crash; since then, based on Bloomberg's survey of Zillow data, their value has more than doubled.

 

 

Guest Post: Credit Outbids Cash = Resource Wars

There are real-world consequences to over-issuing credit and currency. Eventually this leads to a bidding war for trust: Whose credit/cash will be trusted to retain its purchasing power? There is a grand irony here, of course; as issuers of credit/cash attempt to debase their currency to boost their exports, their debased currency buys fewer real-world resources.

 

 

 

 

 

THe TaPeR EFFeCT DeMoNSTRaTeD... Posted by : williambanzai7 Post date: 08/07/2013 - By well known PhDs...




 

.

 

Official: Tepco Plan Could Cause Fukushima Reactor Buildings to “Topple” Posted by: George Washington Post date: 08/07/2013 - Japan’s Nuclear Accident Response Director Warns that Tepco’s Actions Might Cause Reactor BuIldings to Collapse

 

NSA Pricked The “Cloud” Bubble For US Tech Companies Posted by: testosteronepit Post date: 08/07/2013 - Foreign companies react; at the expense of already revenue-challenged US tech companies

 

 

 

 

Counter-Terror Experts: Government's Mass Surveillance Program - And Justifications - Are So Dumb They're "Crazy Pants" Posted by : George Washington Post date: 08/08/2013 - D'Oh!

FiSHiN WiTH VLaD... Posted by: williambanzai7 Post date: 08/08/2013 - Catch of the day...

FiSHiN WiTH VLaD...




Average:

 

The Fed Will Bankrupt the US Trying to "Create" Jobs Posted by: Phoenix Capital... Post date: 08/08/2013 - There is literally no evidence that printing money creates jobs. Look at Japan, they have and continue to maintain QE efforts equal to 40+% of their GDP and unemployment hasn’t budged in...

 

"Hello Scotia Mocatta, This Is JPMorgan - We Urgently Need Some Of Your Gold"

Yesterday, it was HSBC. Today, the lucky respondent to JPM's polite gold 'procurement' request, is the second "fullest" New York commercial gold vault: Scotia Mocatta.

 

 

 

 

GALLUP LOWEST: OBAMA FALLS TO 41%

REID: OBAMACARE JUST STEP TOWARDS SINGLE-PAYER...
FLASHBACK: 'Rigged to Fail'...
Insurance Co's Flee Exchanges...

Number of Americans Renouncing Citizenship Surges...
EXIT TAX...

V A C A T I O N !
Inside Obama's $7.6 million Martha's Vineyard rental...

STARED DOWN BY SNOWDEN...
Assange: Changes vindicate release of information...

In Misstep, President Discusses Sealed Indictment...

Russian minister tells US to behave 'like grown-ups'...

 

 

 

A Quadrillion Yen And Counting – The Japanese Debt Bomb Could Set Off Global Panic At Any Moment

How much is 1,000,000,000,000,000 yen worth?  Well, a quadrillion yen is worth approximately 10.5 trillion dollars.  It is an amount of money that is larger than the "the economies of Germany, France and the U.K. combined".  It is such an astounding amount of debt that it is hard to even get your mind around it.  The government debt to GDP ratio in Japan will reach 247 percent this year, and the Japanese currently spend about 50 percent of all central government tax revenue on debt service.  Realistically, there are only two ways out of this overwhelming debt trap for the Japanese.  Either they default or they try to inflate the debt away.  At this point, the Japanese have chosen to try to inflate the debt away.  They have initiated the greatest quantitative easing experiment that a major industrialized nation has attempted since the days of the Weimar Republic.  Over the next two years, the Bank of Japan plans to zap 60 trillion yen into existence out of thin air and use it to buy government bonds.  By the time this program is over, the monetary base in Japan will have approximately doubled.  But authorities in Japan are desperate.  They know that the Japanese debt bomb could set off global panic at any time, and they are trying to find a way out that will not cause too much pain. (Read More....)

 

STiLL NiGHT, AuGuST MooN... Posted by : williambanzai7 Post date: 08/10/2013 - 15:05 Zen and the art of contamination...

STiLL NiGHT, AuGuST MooN...




 


.

 

Still night, August moon

Water, water, pump, pump, pump

What strange fish to fry!

 

.

 

 

19 Very Disturbing Facts About Illegal Immigration That Every American Should Know

Should we roll out the red carpet and allow millions upon millions of thieves, rapists, gang members and drug dealers to come waltzing into this country any time they would like?  Should we broadcast a message to the rest of the world that anyone that can find a way to enter this country and somehow get to a “sanctuary city” can sign up for a plethora of welfare benefits and live a life of leisure at the expense of hard working American citizens?  Yes, those questions sound absurd, but what I have just described will essentially be official U.S. government policy if the immigration bill going through Congress becomes law.  And unfortunately, Democrats no