They Denied That We Were In A Depression In 1933 And They Are Doing It Again In 2013

Great Depression HeadlinesThe 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?

Choices become actions, actions become habits, and habits become our character. Posted by: hedgeless_horseman Post date: 09/13/2013 - One problem is that life now moves so quickly, and we make so many decisions in a day, and with such little thought, that we can easily find ourselves exhibiting actions, habits, and character that...

NiKKei THe 13TH... Posted by: williambanzai7 Post date: 09/13/2013 - If he were a flavor of ice cream, what flavor would it be?

NiKKei THe 13TH...

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Tea Party Founder Responds To Putin Op-Ed

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?



Why Banks Failed

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...


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

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?


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?



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 ."

- Ben Bernanke, Deflation: Making Sure "It" Doesn't Happen Here, November 21, 2002



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"

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."



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

Kit Daniels | Further evidence that the Aug. 21 chemical attack was a false flag to frame Assad.


Real Media Blocks Obama’s Attempt at Plunging Nations Into WW3

Anthony Gucciardi | Real, authentic media destroys Obama administration lies designed to launch nations into WW3.


DHS to Test Face Scanning Cameras at Tri-City Hockey Game

Paul Joseph Watson | Long term goal is to “identify terrorists and criminals in public areas.”


Leader of Syrian Rebel Group Calls For Attacks Inside US

Paul Joseph Watson | …And he also just happens to be the head of Al-Qaeda.


Wife of Man Executed by FBI Demands Justice

Kurt Nimmo | Ibragim Todashev executed after eight hours of FBI interrogation following Boston bombing.


Kill a Family Member to Join the Illuminati!

Paul Joseph Watson | Young people around the world are becoming increasingly mindless, amoral and desperate.


CNN Propagandist Amanpour Demands “Moral” Intervention in Syria

Kurt Nimmo | CNN is a valuable propaganda asset for wars of globalist intervention.



War Is Coming: 10 Reasons Why A Diplomatic Solution To The Syria Crisis Is Extremely Unlikely

U.S. Military War With SyriaOver 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.....)




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...

'Don’t Worry' About What I Just Said...