BaNZaI7
ReVieWS TaPeR BaSiCS... Posted by:
williambanzai7
Post date:
09/17/2013 - BANZAI7 FOOD AND BEVERAGE WARNING LEVEL
8
BaNZaI7 ReVieWS TaPeR BaSiCS...
Submitted by williambanzai7 on
09/17/2013 15:14 -0400
.
.
.
.
Bernanke's big nipples are sore
Jamie's been sucking them more
Jamie's so rough
And Ben's had enough
He's starting to feel like a whore
The Limerick King
.
.
The people are starting to feel
An end to the FED's QE deal
If tapers begin
Like staples on skin
The pain from the FED could be
real
The Limerick King
.
.
.
.
.
.
.
WilliamBanzai7 Fine Art Prints
Inquiries: [email protected]
Our operatives are waiting to
assist you...
Fed
downgrades outlook for economy...
STOCKS
ROCK: HIT ALL TIME HIGH...
POLL:
Only 27% know QE...
FBI:
Chicago now nation's murder capital...
Cory
Booker's Abandoned House -- Violated Law He Passed... { Typical
hypocritical gay nigger! }
Supporters
heckle white opponent: 'Go back where you came from'... { Actually, the salutary effects of sending
the niggers back to Sub-Saharan Africa would more than offset the costs of same
(less crime, less welfare, productive/rational citizenry remain, etc.) }
NYC
Heckler Calls Mayor Candidate 'Republican Slavemaster'... { Typical nigger racism and hypocrisy! }
Median
Household Income Has Fallen For FIVE YEARS IN A ROW
If the economy is getting better,
then why do incomes keep falling? According to a shocking new report that
was just released by the U.S. Census Bureau,
median household income (adjusted for inflation) has declined for five years in
a row. This has happened even though the federal government has been borrowing
and spending money at an unprecedented rate and the Federal Reserve has been on
the most reckless money printing spree in U.S. history. Despite all of
the "emergency measures" that have been taken to "stimulate the
economy", things just continue to get worse for average
American families. Americans are working harder than ever, but their
paychecks are not reflecting that. Meanwhile, the cost of everything just
keeps going up. The Federal Reserve insists that inflation is
"low", but anyone that goes grocery shopping or that stops at a gas
station knows that is a lie. In fact, if inflation was calculated the
exact same way that it was
calculated back in 1980, the inflation rate would be somewhere between 8
and 10 percent right now. Paychecks are being stretched more than ever
before, and that is probably the reason why about three-fourths of the entire
country is living paycheck to paycheck at this point. (Read More....)
Obamacare Subsidies Show Huge Rift Between Congress, Citizens
‘Nothing angers United States Senators more than having their perks taken
away. And chief among those perks is top-of-the-line healthcare at little or no
cost.
But due to Obamacare’s sloppy drafting, the congressional healthcare perk
is suddenly vulnerable. And Congress isn’t happy.
So Barack Obama – who’s spent much of the summer making adjustments to Obamacare that
aren’t legal – is tweaking the law yet again. He’s taken the aggressive
position that his staff can rewrite Obamacare at will. No congressional action
is required to change the law, according to their logic.
First the business mandate vanished. Originally, businesses with over 50
employees were supposed to provide insurance as of January 1. Obama
unilaterally delayed this mandate for at least another year.
Next, the online marketplaces that sell the healthcare plans have been
all but forgotten. They were supposed to automatically calculate subsidies
based on income, but the programmers don’t have the systems ready. Not to worry
– Obama said that all you have to do if you want a subsidy is claim one.
There’s currently no way to verify whether your claim for a subsidy is
legitimate…and there may never be.
And finally, in his most outrageous move yet, Obama has tweaked the
healthcare law to make sure congressmen and their staffs can collect big
subsidies for their coverage. Obama ordered the Office of Personnel Management
(OPM) to reinterpret the law, and with the revisions in place, millionaire
members of Congress will once again get their full subsidy.
Until Obamacare was passed, congressmen, along with all other Federal
employees, participated in the Federal Employees Health Benefits Program
(FEHBP), and they routinely receive subsidies of $5,000 to $15,000 per year.
But when Obamacare was drafted, Senator Chuck Grassley, of Iowa, inserted
a provision that all members of Congress and their staffs must buy insurance
through the Obamacare health exchanges.
“The more that Congress experiences the laws it passes, the better,”
Grassley said at the time. Since it’s difficult for Congress to argue that they
be exempt from their own laws, they caved to Grassley’s demand.
Obama to the Rescue
Everyone thought the Grassley language would end federal healthcare
subsidies. But the squeals in D.C. became so loud this summer that Obama
rewrote the bill again. This time, he made sure Congress and their staffs would
still get the subsidies they so desperately craved.
But one congressman, Senator David Vitter, of Louisiana, doesn’t think
this is right. He’s called for a vote to end the congressional exemption from
paying full freight for health insurance.
Vitter’s bill would stop the rewrite and once again subject congressmen
and their staffs to the same problems faced by Americans who are paying more
money for less care under the “Affordable Care Act.” In reality, the act is
neither affordable nor fair, as millions of Americans are about to lose
employer-based healthcare.
Meanwhile, on Capitol Hill, Harry Reid was actually forced to shut down
the Senate to keep any debate of the Vitter bill from taking place. Reid and
the other leaders of the Senate don’t want Americans to know what’s going on.
They’re worried that all Americans will begin demanding discounted
healthcare.
After being pushed around, Vitter was so mad he actually made a complaint
to the Senate Ethics Committee about Reid and Senator Barbara Boxer. The
language used is rarely on display in the Senate, a body that prides itself as
the home of honest and fair discussion.
The Vitter language is so strong, I want to quote it exactly: “Harry Reid
is acting like an old-time Vegas mafia thug, and a desperate one at that…
Threatening to take away their colleagues’ health care coverage subsidy if they
do not vote a certain way at worst constitutes bribery and a quid pro quo
arrangement, and at best amounts to improper conduct,” he said.
Unfortunately, in spite of Vitter’s best efforts, the outcome here is
pre-determined. Senators and staffers will get their subsidies. But it’s
refreshing to see someone on Capitol Hill actually working to end a perk.
Way to go Senator Vitter.’
Your eyes on the Hill,
Floyd Brown
Janet
Yellen: What A Horrifying Choice For Fed Chairman She Would Be
Are
you ready for Janet Yellen? Wall Street wants her, the mainstream media
wants her and it appears that her confirmation would be a slam dunk. She
would be the first woman ever to chair the Federal Reserve, and her philosophy
is that a little bit of inflation is actually good for an
economy. She was reportedly the architect for many of the
unprecedented monetary decisions that Ben Bernanke made during his tenure, and
that has many on Wall Street and in the media very excited. Noting that
we "already know that Yellen is on board with Bernanke's easy money
policies", CNN recently even went so far as to publish a rabidly
pro-Yellen article with this stunning headline: "Dear Mr.
President: Name Yellen now!" But after watching what a disaster
Bernanke has been, do we really want more of the same? It doesn't really
matter whether she is a woman, a man, a giant lizard or a robot, the question is
whether or not she is going to continue to take us down the path to ruin that
Bernanke has taken us. As I have written about so many times, the Federal
Reserve is at the very heart of our
economic problems, and under Bernanke the Fed has created a mammoth
financial bubble unlike anything that we have ever seen before. If Yellen
keeps us going down that road, financial disaster is inevitable. (Read More....)
More
Warnings: "This Time Is Different" { We all know this time’s not different; that their policy of
evermore worthless fiat currency printing/creating and debasement thereby has
been a dismal failure for all but the paper pushers/frauds on wall street et
als; that things remain so bad that the failed policy by default continues for
lack of a competent plan in the alternative; yes, the failed policy of
obfuscating failure in the short term in favor of the visible 1% and their
inflated paper/bubble barometers continues unabated as the ineluctable path to
perdition. }
Submitted by Tyler Durden on
09/18/2013 - 19:01
The
equity market’s reactions to monetary policy inflection points, when (or if)
the Fed takes the first step to normalize monetary policy following easing in
response to recession, have been reasonably similar. As Barclays' Barry Knapp
notes, irrespective of the pace of policy accommodation removal – the
average policy normalization-related correction during the prior six business
cycles is 8.9%. While our memories of an extremely volatile September
– five years ago – remain fresh, the last four have been exceptionally tame.
However, while another period of fiscal uncertainty seems likely, Knapp fears there
is a key difference between this September and the surprisingly low volatility
Septembers in 2009-12. In those periods, the Fed was either buying
assets or had pre-announced a new program; this year, it is preparing to weaken
the portfolio balance effect.
63
High Government Debt Episodes And What They Tell Us About Our Options Today
Submitted by Tyler Durden on
09/18/2013 - 18:34
Do
you wonder what to make of America’s soaring government debt and what it means
for the future? Or, if you already have it figured out, are you
interested in research that might challenge your position? Either way, you
might like to see the results of this exercise:
1... Take each historic instance of
government borrowing rising above America’s current debt of 105% of GDP.
2... Eliminate those instances in which creditors
received a lower return than originally promised, due to defaults, bond
conversions, service moratoriums and/or debt cancellations.
3... Of the remaining instances, consider whether
and how the debt-to-GDP ratio was reduced.
In other words, let’s see what history tells us about today’s
debt levels and what comes next. You may find the answer
surprising.
The
Greatest Debt Crisis The World Has Ever Seen Is Coming
The largest mountain of debt in the history of the world just continues
to grow even larger, and everyone knows that this colossal debt spiral is not
going to end well. But we all keep playing along because nobody wants the
party to end. Right now, there is an unprecedented ocean of red ink
covering the planet. Globally, governments have never been in so much
debt, corporations have never been in so much debt and consumers have never
been in so much debt. But every time someone suggests that this is a
problem and that we should at least try to get debt levels to settle down a
bit, people start screaming that “austerity” will hurt the global
economy. And of course it will. But we can’t continue to live way,
way above our means indefinitely. Well, we can try, but at some point
this entire house of cards is going to come crashing down and we are going to
be facing the greatest economic crisis the world has ever seen.
It is kind of like watching a slow-motion train wreck that you have no
chance of possibly stopping that you know will end up killing lots of innocent
people. This debt crisis is going to end up destroying the global
financial system, but there is not a thing (Read More....)
Goldman
Flip-Flops: Sees Near-Term Upside In Gold
Submitted by Tyler Durden on
09/18/2013 - 17:56
It was
only Monday that Goldman's Damien Couravlin was pounding the table and gold
right under it. A quick, and historic, $70 move higher in gold in one day
following Bernanke's most recent confirmation he really has no clue what he is
doing in terms of monetary policy (if knowing quite well what he is doing for
the S&P and its 1950 year end price target), was all that it took for
Goldman to flip flop and now suggest that there is "risk to gold
prices as skewed to the upside in the near-term, in our view."
Near-Record
Treasury Shorts Pummeled By Bernanke Announcement
Submitted by Tyler Durden on
09/18/2013 - 17:18
Whether it was momentum traders doing what they do best, or just a market
expecting Bernanke's "communication strategy" to pan out as expected,
and follow through with more easing in demand for duration assets, is unclear
and largely irrelevant, but as the following chart by JPM shows, net spec
positions in UST futures are at their most short since May 2010 and are close
to two standard deviations below their average since 2006. The chart shows a
duration weighted composite of the net spec positions on the 10YR, 5YR, 2YR,
the T-bond, the Ultra long bond and the Eurodollar futures - it is these specs
that goes hurt the most by today's FOMC announcement. The question now is: will
the scramble to cover shorts lead to a fresh push lower in yields (ending any
talk of a rotation, great or otherwise), or following today's shock and awe
move in the curve, will the move wider in rates continue.
Syrian
Rebels To Christian Woman After Slitting Her Fiance’s Throat: “Jesus Didn’t
Come To Save Him”
In Syria, Christians, Jews and Muslims of all types have been living
fairly peacefully with one another for centuries, but the Syrian “rebels” want
to change all that. The truth is that the “rebels” have no interest in
“freedom” or “democracy” whatsoever. Rather, they are hardcore Sunni
jihadists that intend to set up a government that will force the entire nation
to go under sharia law. Christians and Jews will be forced to convert to
Sunni Islam, flee for their lives, or be killed. A large percentage of
the “Syrian rebels” are actually foreigners,
and Islamic leaders all over the Middle East are urging fighting men to go to
Syria and “wage jihad” against the Assad regime. In fact, Saudi Arabia
has been so desperate to overthrow Assad that they have been actually releasing death
row inmates from prison and paying them to go fight in Syria.
Unfortunately, we (Read More....)
It
is undeniable that America is thoroughly addicted to fiat stimulus. Every
aspect of our economy, from stocks, to bonds, to banks, and by indirect
extension main street, is now utterly dependent on the continued 24/7 currency
creation bonanza. The stock market no longer rallies to the tune of increased
retail sales, growing export markets or improved employment expectations.
In fact, “good” economic news today is met with panic and market sell-offs! Why?
Because investors and banks still playing equities understand full well that
any sign of fiscal improvement might mean the end of the private Federal
Reserve’s QE pajama party. They know that without the Fed’s opiate-laced
lifeline, the economy dies a fast and painful death. All mainstream economic
news currently revolves around the Fed, as pundits clamor to divine whether the
latest signals mean the free money will 
13th
'up' day of last 15 for the S&P... Quite a day (considering
Bernanke said they "were avoiding sharp shocks"):
We
hope everyone is enjpying the spoils of war from reading the FOMC statement and
buying appropriately. Of course, as Nanex shows, unless your trigger
finger hit that big green button within a millisecond or so, you missed the
entire move...
Beginning
3 minutes before the release of the FOMC Statement, gold spot and futures
prices began to rise notably. Bonds did not. Stocks did not. FX
did not. Around 4300 contracts changed hands in the Dec Futures -
massively more than average volume - before the statement came out and drove
prices further up. In those 3 minutes Gold prices jumped $11... so the question
is - lucky guess... or which big bullion bank got the nod?
Deflation
- A derangement of money or credit, a symptom of which is falling
prices. Not to be confused with a benign, i.e., downward shift in the composite
supply curve, a symptom of which is also falling prices. In a genuine
deflation, banks stop lending. Prices tumble because overextended businesses
and consumers confront the necessity of selling assets in order to raise cash. When
prices fall because efficient producers are competing to deliver lower-priced
goods and services to the marketplace, that is called “progress.”
In 2013, central bankers the world over define deflation as a fall in prices,
no matter what the cause. Nowadays, to forestall what is popularly called
deflation, the world’s monetary authorities are seemingly prepared to pull out
every radical policy stop. Where it all ends is one of the great
questions of contemporary finance. 
Will
the history books record these past couple of weeks as the point when the tide
finally turned against our interventionist foreign policy? The
American people have spoken out against war. Many more are now asking what we
have been asking for quite some time: why is it always our business when there
is civil strife somewhere overseas? Why do we always have to be the ones to
solve the world's problems?
Gold
prices just legged down $15 as Japan opened, breaking bad
below $1,300 for the first time in 6 weeks. No news (obviously). It
seems the 'early' gold price rally when Summers stepped away was too much to
bear... Equities and bonds rally because moar of the same dovish idiocy will
remain at the Fed... and gold falls out of bed? It would appear Mikael has been
a busy boy once again (in early we note by his Bloomberg status)
The
Euro area is no longer the centre of all the stress... EM countries are!
Despite their significant correction in recent months, SocGen notes that
valuations remain far more extreme (or cheap) and outflows are dominating (despite
a 24% discount on a price-to-book basis across EM stocks, they reain rich
historically). Significant structural issues like balance of payments,
deficit or inflation may lead to further turmoil in emerging markets,
potentially destabilising the underlying economies. Simply put, SocGen warns,
valuations have further to fall; do not catch the falling knife (yet).
"Exceptional..."
In a
long and proud tradition started by Solyndra and A123, and going through such
Tesla ancestors as the Fisker Karma and Coda, the US government continues to
demonstrate that when it comes to misallocating capital, albeit in (or due to)
the pursuit of noble "green" causes, it has no peer. Fast forward to
today, when we find that the latest casualty of a world in which ridiculous
business models and lack of cash flows does not result in an Amazon-esque happy
ending, is Eco(
The
Federal Reserve is in a classic double-bind: as its policies to boost
growth bear fruit, interest rates rise, threatening the very recovery the Fed
has lavished trillions of dollars of quantitative easing (QE) to generate. Put
another way: if growth is needed to boost corporate sales and profits, but
growth leads to higher interest rates and reduced central-bank suppport of
markets, this is a double-bind with no exit. 
Over
the past year, India has unleashed the most unprecedented series of gold
"capital controls" ever seen in a modern nation, shy of confiscation
(and even 
Today's
TIC data showed something disturbing: for the fourth month in a row, foreigners
were net sellers of US Treasury paper in July , as total foreign holdings
declined from $5.600 trillion to $5.590 trillion which represents 49% of total
marketable debt (including the debt owned by the Fed of course). In other
words, since peaking at $5.724 trillion in March, foreign-held debt has
declined by $134 billion, at a time when yields have surged on fears the Fed's
tapering of its own purchases of bonds will mean less Fed frontrunning
opportunities. However, it is only when broken down by gross purchaser, that we
see just who is to thank for this surge in buying of Treasury paper in the
month of July. One look at the chart below should explain it...
With
spending habits waning amid soaring interestrates and rising gas prices, it is
perhaps useful to note the trends in the stickiest of spending habits -
tobacco, alcohol, and fast food...
Volume
is worst (pro rata) than yesterday in equities; AAPL is up though (but gold is
down oddly). In fact US equities are on their own heading into tomorrow's
angst... the USD is lower, Treasuries are flat, oil, gold, and silver are all
down, VIX is staying signficantly higher and HY credit spreads are
notably wider...
While
the issue of whether they will or won't taper is certainly still not clear, the
A
very soon tomorrow will bring the decision of the Fed concerning tapering into
focus. Ok, a kind of fuzzy, hard to see and wispy focus. The one thing
that we can assure you of is that whatever is to come our way it will not be a
singular event. You will hear from the imbibers of Cool Aid and other
mischievous reality altering drinks that it could be a one-off event. Tomorrow
a process will be started, it will probably go in fits and starts but
do not blind yourself; it will be the beginning of the journey to cut back
on the propping up of the markets by the Fed.
The
U.S. Census Bureau announced today that in 2012, real median household income
and the poverty rate were not statistically different from the previous
year. The 88-page report (
A
snapshot of the top Bloomberg news from five years ago shows something very
unusual - an entire screen of negative headlines. Of course,
back then, bad news was indeed bad news... in our new normal, a smorgasbord of
cataclysmic event, terrorism, and systemic risk possibilities would likely be
reason to BTFATH as it guarantees the Fed will come to the
rescue... (just as they did eventually last time).
The
number whispered on Wall Street is $10 billion (
Amid
the 100 year anniversary of the creation of the Federal Reserve, it is
absolutely imperative that the American people understand that the Fed
is at the very heart of our economic problems. It is a system of
money that was created by the bankers and that operates for the benefit of the
bankers. The American people like to think that we have a "democratic
system", but there is nothing "democratic" about the Federal
Reserve. Unelected, unaccountable central planners from a private central
bank run our financial system and manage our economy. There is a reason
why financial markets respond with a yawn when Barack Obama says something
about the economy, but they swing wildly whenever Federal Reserve Chairman Ben
Bernanke opens his mouth. The Federal Reserve has far more power over the
U.S. economy than anyone else does by a huge margin. The Fed is 
Like
many Americans since the recession hit, you have likely wondered if relocating
to another state would be a good financial move. In this expansive interactive
infographic below, we compare just how well each state is fairing in these
challenging times. How does your state rank?