They
Denied That We Were In A Depression In 1933 And They Are Doing It Again In 2013
The
more things change, the more things stay the same. The Great Depression
actually started in 1929, but as you will see below, as late as 1933 the
Associated Press was still pumping out lots of news stories with optimistic
economic headlines and many Americans still did not believe that we were
actually in a depression. And of course we are experiencing a very
similar thing today. The United States is in the worst financial shape that it has
ever been in, our economic infrastructure is being systematically gutted, and poverty is absolutely exploding. Since the stock
market crash of 2008, the Federal Reserve has been wildly printing money and
the federal government has been running trillion dollar deficits in a desperate
attempt to stabilize things, but in the process they have made our long-term
economic problems far worse. It would be hard to overstate how dire our
situation is, and yet the mainstream media continues to assure us that
everything is just fine and that happy days are here again. (Read More....)
Head
of Syrian Rebels Calls for Terrorist Attacks On America Posted by :
George Washington Post date:
09/13/2013 - Why Are We Supporting Guys Who Want to
Blow Us Up?
Submitted by williambanzai7 on 09/13/2013 Q:
IF HE WERE A FLAVOR OF ICE CREAM, WHAT FLAVOR WOULD IT BE? A:
PONZI ROAD Submitted
by Tyler Durden on 09/13/2013 - 18:02 While we await Obama's response to
the Putin
NYT op-ed from Wednesday night, the "pen-pal by proxy"
pissing contest just got a new contender: the Tea Party's own, and current
Heritage foundation president, Jim DeMint. And while DeMint's thesis is
certainly admirable, namely that America is exceptional, his argument is that this is
due to the... limited power of government!? Jim, and the NSA
probably had the same question ahead of us when it was intercepting this letter
as it was being transmitted in TCP/IP space and then saved among a plethora of
cloud servers, we wonder: wasn't the point to refute Putin, not admit
he is correct? Submitted
by Tyler Durden on 09/13/2013 - 20:17 Despite Hank Paulson's recent
re-emergence basking in the glory of his miracle, the 'too-big-to-fail' problem
is bigger and more prone to fail than ever before (M&A dominance, capital
cost advantages, major AFS loss potential and huge reliance on repo funding).
The following excellent infographic from The FT succinctly summarises the reasons why banks failed last time... and
what lessons - if any - we have learnt... Submitted
by Tyler Durden on 09/13/2013 - 19:48 Submitted
by Tyler Durden on 09/13/2013 - 19:14 Still believe in humans buying and
selling stocks, influencing the machinations of broad-based equity valuations
based on their aggregate (rational, frictionless, technical, fundamental, and
infinitely liquid) beliefs... then what the f**k is this? Submitted
by Tyler Durden on 09/13/2013 - 18:42 Submitted
by Tyler Durden on 09/13/2013 - 17:29 Submitted
by Tyler Durden on 09/13/2013 - 16:48 Submitted
by Tyler Durden on 09/13/2013 - 16:17 - Ben Bernanke, Deflation:
Making Sure "It" Doesn't Happen Here, November 21, 2002 Submitted
by Tyler Durden on 09/13/2013 - 16:08 Submitted
by Tyler Durden on 09/13/2013 - 15:46 The American public is
"just too darn stupid to get it." That is the message that CNBC's Rick Santelli hears from the
mainstream media when discussing polls that suggest US citizens are against a
rise in the debt ceiling. Perhaps, as he exclaims, "we should only poll
the Harvard and Princeton professors," since they have such a good grasp
of reality. But, it is the "giant
leap of faith" that the Fed can really move unemployment and keep the
economy humming along to support the level of equities that has the Chicagoan
irate. Congress - listen up - he explodes, "70% of
Americans oppose raising the debt ceiling, and 55% oppose it even if it means
default." With the mid-terms not so far away, Santelli warns, "Americans know exactly what they want and
they are not getting it from the current Congress." Submitted
by Tyler Durden on 09/13/2013 - 15:18 Submitted
by Tyler Durden on 09/13/2013 - 14:52 Submitted
by Tyler Durden on 09/13/2013 - 14:27 Submitted
by Tyler Durden on 09/13/2013 - 14:01 Submitted
by Tyler Durden on 09/13/2013 - 13:34 Kit Daniels | Further evidence that the Aug. 21
chemical attack was a false flag to frame Assad. Anthony Gucciardi | Real, authentic media destroys Obama
administration lies designed to launch nations into WW3. Paul Joseph Watson | Long term goal is to “identify
terrorists and criminals in public areas.” Paul Joseph Watson | …And he also just happens to be the head
of Al-Qaeda. Kurt Nimmo | Ibragim Todashev executed after eight
hours of FBI interrogation following Boston bombing. Paul Joseph Watson | Young people around the world are
becoming increasingly mindless, amoral and desperate. Kurt Nimmo | CNN is a valuable propaganda asset for
wars of globalist intervention. Al-Qaeda
chief calls for attacks on USA... POLL:
Americans' trust in government falls to all-time low... Kerry's
Russian counterpart mocks him for talking too much...NiKKei
THe 13TH...
Tea
Party Founder Responds To Putin Op-Ed
Why Banks
Failed
Marc
Faber On Protecting Wealth In The Coming Collapse
Faber
begins by noting that "a deflationary bust, whenever it may happen
(tomorrow or 10 years), is inevitable; and is the opposite of an increase in
prices from inflation." Of course, it is the central banks'
response to even the fears of that bust (e.g. whether it washes around the
world - from EM to DM) that will turn an asset-deflationary bust into a
hyperinflationary collapse in fiat currencies; and focused on the long-term,
'Gloom, Boom, & Doom Report's' Marc Faber looks at how to preserve wealth through
this as he ranges from the obsolescence risk of equities to the political risk
of real estate and banking risks of cash and deposits. Faber reflects on
various lessons from the past (hyperinflations, wars, banking crises) and
geographies as he moves from asset class to asset class highlighting the pros
and cons of each. Preferring a mix of gold and diversified real estate (and not
government bonds), Faber
warns investors to be highly skeptical of anyone who believes they can forecast
what is going to happen over the next 5-10 years.Spot The
Lack Of Difference
Guest
Post: Did Capitalism Fail?
Until
six days before Lehman Brothers collapsed five years ago, the ratings agency
Standard & Poor’s maintained the firm’s investment-grade rating of “A.”
Moody’s waited even longer, downgrading Lehman one business day before it
collapsed. How could reputable ratings agencies – and investment banks –
misjudge things so badly? Regulators, bankers, and ratings agencies bear much
of the blame for the crisis. But the near-meltdown was not so much a failure of capitalism as it
was a failure of contemporary economic models’ understanding of the role and
functioning of financial markets – and, more broadly,
instability – in capitalist economies. Yet the mainstream of the economics
profession insists that such mechanistic models retain validity.UK
Realtors Ask Central Bank To Halt Housing Bubble
"The Bank of England now has the ability to
take the froth out of future housing market booms, without
having to resort to interest rate increases," is the way the UK's realtor
association explains their demand
that the BoE limit national house price growth to 5% a year.
While they would benefit from short-term gains, it seems the Royal Institution
of Chartered Surveyors (RICS) sees the dangers of another unsustainable housing
boom outweigh them. As The
FT reports, RICS adds, "this cap would send a clear and simple
statement to the public and the banking sector, managing expectations as to how
much future house prices are going to rise. We believe firmly anchored
house price expectations would limit excessive risk taking and, as a result,
limit an unsustainable rise in debt." Or will it merely lead to
further financial engineering and leverage?VIX WTF Deja Vu
On a
day when the CBOE was struggling to disseminate data, exchanges proclaiming
self-help against one another, weekly expirations and an AAPL share price well
below early week pin-risk levels, it makes perfect sense that it would be a VIX-sparked momentum ignition algo that
would lift a super-low-volume day in US stocks from perfectly at VWAP to close
at their highs (banging them 0.25% higher in the last 3 minutes
of the day)... all we can say is WTF...Bernanke's
Helicopter Is Warming Up: Larry Summers - First Pilot
"A
broad-based tax cut, for example, accommodated by a program of open-market
purchases to alleviate any tendency for interest rates to increase, would
almost certainly be an effective stimulant to consumption and hence to prices.
Even if households decided not to increase consumption but instead re-balanced
their portfolios by using their extra cash to acquire real and financial
assets, the resulting increase in asset values would lower the cost of capital
and improve the balance sheet positions of potential borrowers. A money-financed tax cut is essentially
equivalent to Milton Friedman's famous "helicopter drop" of money ."Dow's
Best Week In 8 Months (Ahead of Taper, Elections, Debt Ceiling, & Syria)
What
do you do when there are some of the biggest and most catalyzing events in
recent years waiting just around the corner? Why you buy stocks of course with
both hands and feet... The
Dow gained around 3% on the week - its best since the first week of January
- outperforming its higher-beta peers (as AAPL lost over 6% for its 3rd worst
week of the year). This was the lowest non-holiday week volume of the year.
It seems weak retail sales and a collapse in confidence also spurred buying
(and yet more short-covering: Shorts
+0.5%, RUT +0.17%) and the opposite-world of QE rules the
day/week (until next week perhaps). Bonds rallied (best week in 4 months), the USD dropped its most in a month,
and VIX had its biggest weekly drop in 6 weeks. Gold and Silver were
clubbed like baby-seals this week until lunchtime today - when they started to
surge green on the day.Santelli
Rants Against The Intellectual Arrogance Of The "Intellectuals"
Are
Your Great-Grandchildren Prepared For $212 Condoms?
Just
how will your great-grandchildren preserve their wealth - or are they
stockpiling condoms and gasoline now?"Nobody
Knows What The F**k Is Going On..."
Financial
circles in Hong Kong are buzzing today on the new Goldman Sachs projection that
gold may drop below $1,000 an ounce. The central thess: since the US economy is out of the woods,
there’s no longer a need for gold as a risk hedge. But as one
senior-level manager at a major investment bank noted, "Nobody knows
what the f**k is going on..." However, this mentality entirely misses
the point of precious metals. When
the hopes and dreams of the entire global financial system rest on the lies of
politicians, the whims of central bankers, and the mountains of debt they have
all accumulated, things could turn on a dime... tomorrow. Gold
is an insurance policy. It’s a form of money that you might never need to use.
But should that need ever arise, you’ll be so much better off for owning it.Larry
Summers Fed Chair Odds Soar Further, Now Undisputed Favorite
It
seems this morning's trial balloon has set the gamblers off as PaddyPower shows
that the probability of Larry
Summers becoming the next Fed Chair has soared to over 85%.
Just six short weeks ago Summers was a long-shot 20% probability and Yellen the
shoe-in at 75%. In the meantime, despite over 300 economists putting pen to
paper to demand more of the same monetary policy that has not worked; Summers
is now more probable that Yellen was at the start. Of course, given today's
reaction, traders may start to position for the seemingly inevitable though we
suspect that - as usual - we will be told that stocks near their highs are
already discounting this and any other potential change.CEOs
Confess: Consumption, That 70% Component Of US GDP, Just Isn't There
Following
this morning's miss
on retail sales and plunge
in consumer confidence, Bloomberg's Rich Yamarone points out that retailers
remain anxious about the outlook as they see consumers cautious and expect a spending slowdown. The
following quotes from some of the largest and most belwether names may help
shed some light on the reality of the hope that is priced into markets about
consumption relative to actual business expectations... perhaps best summed by
Sealed Air's CEO, "we are in the fourth year of the recovery and it
doesn’t feel like a recovery. Because it’s the first time ever that things, four years within a recovery, are
feeling so iffy."What
A Difference A Decade Makes
Even
as the popular press if focused on the 5 year anniversary of Lehman, we decided
to go back double that period, and take a look at what happened to the
developed world economy in the past decade, starting with 2003. What we found
was interesting.U.S. Military: Al-Qaeda Rebels
Produced Sarin Gas For Chemical Attacks In Syria
Real Media Blocks Obama’s Attempt at
Plunging Nations Into WW3
DHS to Test Face Scanning Cameras at
Tri-City Hockey Game
Leader of Syrian Rebel Group Calls For
Attacks Inside US
Wife of Man Executed by FBI Demands
Justice
Kill a Family Member to Join the
Illuminati!
CNN Propagandist Amanpour Demands
“Moral” Intervention in Syria
War
Is Coming: 10 Reasons Why A Diplomatic Solution To The Syria Crisis Is
Extremely Unlikely
Over
the past few days, there has been a tremendous wave of optimism that it may be
possible for war with Syria to be averted. Unfortunately, it appears that
a diplomatic solution to the crisis in Syria is extremely unlikely. Assad
is certainly willing to give up his chemical weapons, but he wants the U.S. to
accept a bunch of concessions that it will never agree to. And it
certainly sounds like the Obama administration has already decided that
“diplomacy” is going to fail, and they continue to position military assets for
the upcoming conflict with Syria. Meanwhile, Saudi Arabia, Qatar and Turkey
are all going to continue to heavily pressure the Obama administration.
They have invested a huge amount of time and resources into the conflict in
Syria, and they desperately want the U.S. military to intervene.
Fortunately, overwhelming domestic and global opposition to an attack on Syria
has slowed down the march toward war for the moment, but unfortunately that
probably will not be enough to stop it completely. The following are ten
reasons why war is almost certainly coming… (Read More.....)
'Don’t
Worry' About What I Just Said...