$5.25 Million For Senate Hair Care And 21 Other Ways Politicians Are Living The High Life At Your Expense

If you want to live the high life, you don't have to become a rap star, a professional athlete or a Wall Street banker.  All it really takes is winning an election.  Right now, more than half of all the members of Congress are millionaires, and most of them leave "public service" far wealthier than when they entered it.  Since most of them have so much money, you would think that they would be willing to do a little "belt-tightening" for the sake of the American people.  After all, things are supposedly "extremely tight" in Washington D.C. right now.  In fact, just the other day Nancy Pelosi insisted that there were "no more cuts to make" to the federal budget.  But even as they claim that things are so tough right now, our politicians continue to live the high life at the expense of U.S. taxpayers.  The statistics that I am about to share with you are very

Cyprus-Style Wealth Confiscation Is Now Starting To Happen All Over The Globe

Now that "bail-ins" have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again.  In fact, Cyprus-style wealth confiscation is already starting to happen all around the world.  As you will read about below, private pension funds were just raided by the government in Poland, and a "bail-in" is being organized for one of the largest banks in Italy.  Unfortunately, this is just the beginning.  The precedent that was set in Cyprus is being used as a template for establishing bail-in procedures in New Zealand, Canada and all over Europe.  It is only a matter of time before we see this exact same type of thing happen in the United States as well.  From now on, anyone that keeps a large amount of money in any single bank account or retirement fund is being incredibly foolish. (Read More....)

The Ongoing Evisceration of the Middle Class... Courtesy of the Fed Posted by: Phoenix Capital... Post date: 09/23/2013 -   Finally the mainstream media is beginning to get the problems with the Federal Reserve.  

20 Ordinary Americans Talk About The Economic Despair That Is Growing Like A Cancer All Around Them

There are hundreds of formerly prosperous communities all over America that are being steadily transformed into rotting, decaying hellholes.  The good paying middle class jobs that once supported those communities are long gone, and they have been replaced with low paying service jobs if they have been replaced at all.  When you visit those communities, it is almost as if all of the hope has been sucked right out of the air.  It can be absolutely heartbreaking to look into the hollow eyes of someone that has totally given in to despair, but unfortunately the number of Americans that are giving up on the economy continues to grow.  Today, the labor participation rate is the lowest that it has been in 35 years, and more than 100 million Americans are enrolled in at least one welfare program.  It is easy to say that they should just "get a job", but as I have written about repeatedly, our economy simply is not producing enough jobs for everyone anymore.  The percentage of working age Americans with a job has remained at the same level that it was at during the worst days of the last recession, and meanwhile the quality of our jobs has continued to steadily decline.  Median household income has fallen for five years in a row, but the cost of living continues to rise rapidly.  The middle class is being systematically shredded, and poverty is growing at an alarming rate.  The U.S. economy has been in decline for a long time, and the really bad news is that it appears that this decline is about to accelerate. (Read More....)

Fed Owns More Debt Than America Amassed From Washington Through Clinton...

Women That Are Man Enough: Girls Who Run the World Posted by: Pivotfarm Post date: 09/23/2013 - Men have had their stab at making the world into what they wanted and they made a pretty poor show of it all we might say when we look at the economy.

Ted Turner: Men Should Be Barred From Political Office For 100 Years... { Indeed, Ted … but, just decades at best …  }

Summing Up The Second Dot Com Bubble In One Photo

Submitted by Tyler Durden on 09/24/2013 - 15:30

There is nothing more to say...

Goldman Goes Medieval On JCPenney: Shorts Bonds; Slams Liquidity; Expects Default Risk Surge

Submitted by Tyler Durden on 09/24/2013 - 20:51

Back in April, in a desperate scramble to raise liquidity courtesy of a hail mary Goldman syndicated term loan, we penned "Confused By What Is Going On At JCP? Here's The Pro Forma Cap Table And The Cliff Notes", where in addition to the obvious - that this is merely buying a few months for the melting icecube company which with every passing day is closer to a Chapter 11 (or 7) bankruptcy filing - we also laid out that what Goldman was doing was merely positioning itself to be at the top of the company's capital structure with a super secured and overcollateralized credit facility, through what is effectively a pre-petition DIP...  As it turns out we only had to wait for five months before the same Goldman that raised the company's emergency liquidity term loan turned around and launched a vicious attack on the same company that paid it millions in dollars in underwriting fees. Specifically, what Goldman just did is write a report (perhaps one of the best bearish cross-asset investment theses we have seen to come out of the firm in a long time) in which it laid out, in a lucid and compelling manner, why JCP is doomed. The report is titled appropriately enough: "Initiate on JCP with Underperform: Looking for cash in the name"... and not finding it.

The Other Reason The Fed Is Terrified Of A Government Shut Down

Submitted by Tyler Durden on 09/24/2013 - 20:42

While some have argued that the Fed is flying blind, given their endless efforts to convince the market that their actions (or inactions) are now all data-dependent - what happens when that data simply does not exist? As SMRA notes, the official word from the BLS is that they are working under the assumption that there will not be a government shutdown and the employment data will be released as scheduled; but what happens if the un-negotiation reaches beyond October 1st? How will our central-planners know what to do?

20 Ordinary Americans Take About Their Economic Despair

Submitted by Tyler Durden on 09/24/2013 - 20:07

Yesterday we highlighted the plight of Tom Palome and his cohorts as they face a need to work well into once-thought-retirement age. However, there are hundreds of formerly prosperous communities all over America that are being steadily transformed into rotting, decaying hellholes. The good paying middle class jobs that once supported those communities are long gone, and they have been replaced with low paying service jobs if they have been replaced at all. When you visit those communities, it is almost as if all of the hope has been sucked right out of the air. The following are 20 quotes from ordinary Americans about the economic despair that is rapidly growing around them.

THIS Will Destroy Shareholder Value Posted by : Capitalist Exploits Post date: 09/24/2013 - A corporate culture that allows wasteful spending engenders fraud, corruption and systematically destroys shareholder value.

UP ALL NIGHT WITH OBAMACARE FIGHT

HOUSE MAY DEMAND DELAY OF INDIVIDUAL MANDATE...
CRUZ: 'THIS IS LIFE AND DEATH'...
'It's time to make DC listen'...
Reads Green Eggs & Ham on Senate Floor...
Harry Reid says isn't real filibuster...
Obama: 'Unprecedented effort' to scare...
C-SPAN LIVE...

Another CA County Votes for Secession...

RECORD TAXATION AT STATE/LOCAL LEVEL...

National Guard Called In To Combat Looters Raiding Flood-Ravaged CO Homes...

Quantitative Easing Worked For The Weimar Republic For A Little While Too

There is a reason why every fiat currency in the history of the world has eventually failed.  At some point, those issuing fiat currencies always find themselves giving in to the temptation to wildly print more money.  Sometimes, the motivation for doing this is good.  When an economy is really struggling, those that have been entrusted with the management of that economy can easily fall for the lie that things would be better if people just had "more money".  Today, the Federal Reserve finds itself faced with a scenario that is very similar to what the Weimar Republic was facing nearly 100 years ago.  Like the Weimar Republic, the U.S. economy is also struggling and like the Weimar Republic, the U.S. government is absolutely drowning in debt.  Unfortunately, the Federal Reserve has decided to adopt the same solution that the Weimar Republic chose.  The Federal Reserve is recklessly printing money out of thin air, and in the short-term some positive things have come out of it.  But quantitative easing worked for the Weimar Republic for a little while too.  At first, more money caused economic activity to increase and unemployment was low.  But all of that money printing destroyed faith in German currency and in the German financial system and ultimately Germany experienced an economic meltdown that the world is still talking about today.  This is the path that the Federal Reserve is taking America down, but most Americans have absolutely no idea what is happening. (Read More....)

Druckenmiller Blasts "The Biggest Redistribution Of Wealth From The Poor To The Rich Ever"

Submitted by Tyler Durden on 09/19/2013 - 09:38

Reflecting on exactly what was said yesterday, Duquesne's Stanley Druckenmiller is initially perplexed as Bernanke explained 'financial conditions' - not interest rates - have prompted the decision to forestall any taper. His confusion is that financial conditions are actually slightly better than they were in June and "a stock market at an all-time high would suggest we don't have a problem with financial conditions." While he dismisses surveys, the big-money was betting that they were going to taper as is clear from the moves in gold, bonds, and stocks; and it appears the Fed "lost their nerve." In fact, Druck continues, the Fed "blew it... they had a freebie," they could have started the process to "get us off the dope." This action, or inaction, he warns "is going to make it so much harder for the next Chairman to start the process." In fact, he concludes, that from beginning to end - once markets adjust from these subsidized prices - that the wealth effect of QE will have been negative not positive.

McCain's self-defeating Pravda op-ed can only help Putin  Washington Post (blog) ‎- by Max Fisher ‎ Senator John McCain, a frequent critic of the Kremlin, responded to Russian President Vladimir Putin's New York Times op-ed with his own, ...

{ How laughable to hear of ‘never-saw-a-war-he-didn’t-like’ neo-con mccain try to lecture the historically formidable Vladimir Putin on the ‘rule of law’. What parallel universe is senile mccain operating in? ( I’m going to even give ‘songbird’ mccain a pass on his violation of military code while a POW so criticized by his fellow POWs).The law is something that I know a lot about; from intense study and direct experience, while mccain can’t possibly say the same. After all, there are indeed a plethora of rules of law in pervasively corrupt, defacto bankrupt america. The problem is, in venal america, they are not meaningful rules of law as applied to some and not others (him and his et als in the latter category). Wow! Talk about out of touch … or maybe he’s just used to such drivel/propaganda being lapped up by the dumbed down american masses!  See  http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf      http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm       http://albertpeia.com/fbimartinezcongallard.htm    for reality!  }

5 Years After the Financial Crisis, The Big Banks Are Still Committing Massive Crimes Posted by : George Washington Post date: 09/20/2013 - Still Laundering Terrorism and Drug Money ...

This Time Around The Fed IS The Bubble Posted by: Phoenix Capital... Post date: 09/20/2013 - In the past, the Fed has been the fuel for bubbles. This time around, the Fed IS the bubble itself, with its balance sheet expansion driving ALL assets higher.

Ron Paul on U.S. Fed QE: Prepare for the Destruction of the Dollar Posted by: GoldCore Post date: 09/20/2013 - David Asman: What happens now? If it’s Yellin she'll be like Bernanke on steroids. What does that mean for our economy? Dr Paul:  Prepare for the destruction of the dollar and the crash of...

CNBC | Fed shifting a massive amount of wealth from the middle class and poor to the rich.

Too Big To Fail Is Now Bigger Than Ever Before

The too big to fail banks are now much, much larger than they were the last time they caused so much trouble.  The six largest banks in the United States have gotten 37 percent larger over the past five years.  Meanwhile, 1,400 smaller banks have disappeared from the banking industry during that time.  What this means is that the health of JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley is more critical to the U.S. economy than ever before.  If they were "too big to fail" back in 2008, then now they must be "too colossal to collapse".  Without these banks, we do not have an economy.  The six largest banks control 67 percent of all U.S. banking assets, and Bank of America accounted for about a third of all business loans by itself last year.  Our entire economy is based on credit, and these giant banks are at the very core of our system of credit.  If these banks were to collapse, a brutal economic depression would be guaranteed.  Unfortunately, as you will see later in this article, these banks did not learn anything from 2008 and are being exceedingly reckless.  They are counting on the rest of us bailing them out if something goes wrong, but that might not happen next time around. (Read More....)

Obamacare - An Unintended Consequence? Posted by : Bruce Krasting Post date: 09/25/2013 - 11:43 It's possible that the liberal's ultimate objective of achieving a single payer system, might well prove to be their undoing.

Truly "Exceptional" And Dumber Than Ever: Verbal SAT Scores Plunge To Fresh Record Low

Submitted by Tyler Durden on 09/25/2013 - 17:31

Another year, another record low for the average verbal SAT score, and another sad achievement for a nation that is getting fatter, dumber and ever more in debt.

Who Is Happiest When The UN Is In Town?

Submitted by Tyler Durden on 09/25/2013 - 20:15

When minimum-wage supply and taxpayer-funded demand collide, the naked truth comes out...

Stephen Roach On Inequality And The Fed's "Treacherous Endgame"

Submitted by Tyler Durden on 09/25/2013 - 20:04

The Federal Reserve continues to cling to a destabilizing and ineffective strategy. By maintaining its policy of quantitative easing (QE) – which entails monthly purchases of long-term assets worth $85 billion – the Fed is courting an increasingly treacherous endgame at home and abroad. By now, the global repercussions are clear, falling most acutely on developing economies with large current-account deficits. But there is an even more insidious problem brewing on the home front - wealth effects are for the wealthy (as the Fed knows too well). QE benefits the few who need it the least. That is not exactly a recipe for a broad-based and socially optimal economic recovery.

"They Got It Wrong On All Accounts" - Where Is Obamacare Now?

Submitted by Tyler Durden on 09/25/2013 - 18:29

The Obamacare that consumers will finally be able to sign up for next week is a long way from the health plan President Obama first pitched to the nation. As Politico notes, millions of low-income Americans won’t receive coverage. Many workers at small businesses won’t get a choice of insurance plans right away. Large employers won’t need to provide insurance for another year. Far more states than expected won’t run their own insurance marketplaces. And a growing number of workers won’t get to keep their employer-provided coverage. But, apart from that - and all the exemptions - six more days and we will all get to see the shiny new exchanges; which may (or may not) prove Sen. Barraso right when he said "It was bad policy and bad politics. They got it wrong on all accounts."

Guest Post: A Deep Look Into The Shady World Of The Private Prison Industry

Submitted by Tyler Durden on 09/25/2013 - 18:01

Private prisons are antithetical to a free people. Of all the functions a civilized society should relegate to the public sector, it’s abundantly clear incarceration should be at the very top of the list. Jailing individuals is a public cost that a society takes on in order to ensure there are consequences to breaking certain rules that have been deemed dangerous to the happiness and quality of life within a given population. However, the end goal of any civilized culture must be to try to keep these costs as low possible. This should be achieved by having as few people as possible incarcerated, which is most optimally achieved by reducing incidents of criminality within the population. Given incarceration is an undesirable (albeit necessary) part of any society, the idea is certainly not to incentivize increased incarceration by making it extremely profitable. This is a perverse incentive, and one that is strongly encouraged by the private prison industry to the detriment of society.

Blankfein Explains "Doing God's Work" Demands A Year End Bonus

Submitted by Tyler Durden on 09/25/2013 - 17:01

"Doing God's work" is not free. In fact, it seems that god is a firm believer in a year end bonus. Goldman CEO Blankfein just announced that his company survived because it was "stable" during the crisis and what the reason for that "stability" was:

• *BLANKFEIN: GOLDMAN WOULDN'T HAVE BEEN STABLE WITHOUT BONUSES

So... if taxpayer bailouts hadn't funded bankers' bonuses, which in the year after the bailout hit an all time high, all hell could have broken loose at the world's largest depositor-insured hedge fund. Just think how much higher employment and income growth could have been in that worst-case scenario.

Deja POMO On - Deja POMO Off

Submitted by Tyler Durden on 09/25/2013 - 16:35

Nothing to see here, move along... trade accordingly...

Stocks Slump To Worst Run In 2013 As Bonds Surge To 7-Week Highs

Submitted by Tyler Durden on 09/25/2013 - 16:15

Another day, another POMO pump followed by a collapse to close at the the lows as the S&P 500 has its first 5-day negative closing run in 2013. Only the NASDAQ remains above Un-Taper levels with the Dow back below 'Summers' levels and the S&P heading that way. Treasury yields slid further (-4 to 5bps) to 7-week lows (down 10 of the last 11 days) as the 7Y broke back below 2.00%. Gold and Silver rallied (after the ubiquitous opening smackdown idiocy) with both positive on the week now. The USD sold off as JPY strengthened to the week's highs and EUR pushed back to unchanged on the week. WTI was slammed lower (in a seeming mirror of the PMs) ending back at $102.28 (-2.4% on the week) nearly 11 week lows. For the second day in a row VIX closed lower as stocks sold off (unwinding hedges and reducing underlying exposure perhaps?)

Here We Go Again: State Department Issues New Worldwide Terrorist Threat Alert

Submitted by Tyler Durden on 09/25/2013 - 15:49

The last time the State Department issued a comparable worldwide terror alert, the majority of US embassies in the Muslim world were promptly evacuated and a few weeks later the Syrian false flag affair was unleashed upon the world. One wonders just what provocation John Kerry has in mind this time.

STATE DEPT ISSUES NEW WORLWIDE CAUTION ON TERRORIST THREATS; STATE DEPT DETAILS POSSIBLE THREATS IN EUROPE, ASIA, AFRICA

At least the evil terrorizers have not infiltrated the Arctic circle yet. As for the always convenient scapegoat:

STATE DEPT SAYS AL-QAEDA PLOTTING IN MULTIPLE REGIONS

They sure are: mostly in Syria, but luckily they are now armed with US weapons.

US Economic Confidence Slumps To Six-Month Low

Submitted by Tyler Durden on 09/25/2013 - 15:27

After a small bounce earlier in the month, Gallup's US Economic Confidence Index has slumped back to its lowest level in 6 months. Combined with record misses in UMich Confidence and the slide in the Conference Board's sentiment measures, it would appear the animal spirits are fading as reality hits once again...

Santelli Exposes The Gaping Hypocrisy Of The "Rubber-Stamping" Politicians

Submitted by Tyler Durden on 09/25/2013 - 14:57

Unfortunately for almost every politician in the US, the way-back machine is fully functional in our new technologically miraculous normal. These are "strange times," CNBC's Rick Santelli notes, as he begins to systemically destroy the credibility of all the gaping wide mouths of the politicians (on both sides of aisle) that doth protest too much over the debt-ceiling debate. Santelli is breathless in his rage at the hypocritical comments of the Democrats based on their views from 2006 (when "W" was in the White House) as they decried the "rubber-stamping" of fiscal irresponsibility (raising the debt ceiling) of the Republican Congress. His ire raises as he shines a light on Harry Reid (Dem.) and Charles Grassley (Rep.) among others.

Rejoice America: You Are Now $3 Trillion Wealthier... Due To A Definition Change

Submitted by Tyler Durden on 09/25/2013 - 14:28

Whereas Americans last quarter had net worth of $70.3 trillion, as a result of a small definition revision, the now have $73.5 trillion. Revisionist Definition wealth for everyone!

JPMorgan Settlement To Reach $11 Billion, AP Reports

Submitted by Tyler Durden on 09/25/2013 - 14:20

Earlier in the week, we warned the mortgage settlement that JPMorgan might face could reach $20 billion. Well, 'officials' at the DoJ according to AP have stated that:

• JPMORGAN NATIONAL SETTLEMENT MAY REACH $11B, AP SAYS
• JPMORGAN PACT MAY INCLUDE $7B CASH, $4B CONSUMER RELIEF

What is most surprising is that JPM did not arrange the $11 billion "settlement" as $12 billion in consumer relief and a $1 billion cash payment from the government.

Wal-Mart Nails The "Consumer Recovery" Coffin Shut

Submitted by Tyler Durden on 09/25/2013 - 13:33

UPDATE: CNBC Damage Control - Story was "misunderstood" and "misleading"...but not denied... CNBC is to Wal-mart as Hilsenrath to the Fed

 Welcome to the new normal recovery... if ever there was a headline that summed up the idiocy of the mal-invested distorted new normal, Wal-Mart just managed it:

*WAL-MART CUTTING ORDERS (In Q3 & Q4) AS UNSOLD MERCHANDISE PILES UP IN U.S.

So, it seems the "if we build it (or stock it), they will come (and buy)" mentaility has failed yet again... As we noted before, as goes Wal-Mart, so goes America...

At Least The Senate Can Agree On One Thing: We Need Moar Debate To Get Paid

Submitted by Tyler Durden on 09/25/2013 - 13:30

While Cruz's speech was entertaining (and gained media attention), there is one thing they agree on

• *SENATE VOTES 100-0 TO ADVANCE BILL TO KEEP GOVERNMENT OPEN

Which means the Senate invokes cloture on the motion to defund Obamacare - setting up 30 hours of debate before another vote on the motion (Cue Cruz again?)... but

*CARNEY REITERATES OBAMA WILL NOT NEGOTIATE ON DEBT CEILING

BO ADMITS: 'WE DID RAISE TAXES ON SOME THINGS'

CRUZ CONTINUES ON LIMBAUGH...
'Senate Republicans not interested in winning'...
Premiums: Tennessee men face 290% increase, women 197%...
TRIPLES KY FAMILY'S INSURANCE OVERNIGHT...
Wedding tax?
DC Computer Glitches Force 6-Week Delay...
Coulter: Cruz control should be standard on GOP models...

MCCONNELL: Obamacare WILL fall apart...

IRS Watchdog: $67 Million Missing from Obamacare Slush Fund...

Breaking: Whistleblower Reveals U.S. State Dept. Ships Arms Directly to al-Qaeda

Kit Daniels | The murder of Ambassador Stevens in Benghazi was an organized hit to cover up direct arm deals.

UN Treaty and Fast & Furious —Tools of Gun Control

David Knight | The history of the UN-ATT is intertwined with Fast & Furious and other false flags

Bloomberg Poll Shows Americans Waking Up to Government Fraud

Julie Wilson | 68 percent of Americans believe the nation is “on the wrong track,” however it’s likely far higher than that.

Media Lumps In Whistleblowers With Mass Murderers

Steve Watson | Time Magazine says Edward Snowden = Aaron Alexis.

Americans Complain of Soaring Obamacare Costs

Paul Joseph Watson | Contradicting White House claim that new regulations will be “affordable”.

Record Gun Sales in Maryland as Tyrannical Law Looms

Kurt Nimmo | Democrat delegate pushes bill for gun confiscation.

Senator Warns Obama Not to Implement UN Arms Treaty

Paul Joseph Watson | Kerry to sign controversial treaty today.

Obama on Obamacare: “We did raise taxes on some things.”

ATR.org | “Some things” is an understatement.

The Fed’s ‘hidden agenda’ behind money-printing

CNBC | If Americans find out the lion’s share of income tax payments go to service the debt, prepare for a new American revolution.

Cyprus-Style Wealth Confiscation Is Now Starting To Happen All Over The Globe

Michael Snyder | Now that “bail-ins” have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again.

Bloomberg Poll Shows Americans Waking Up to Government Fraud

Julie Wilson | 68 percent of Americans believe the nation is “on the wrong track,” however it’s likely far higher than that.

Media Lumps In Whistleblowers With Mass Murderers

Steve Watson | Time Magazine says Edward Snowden = Aaron Alexis.

Americans Complain of Soaring Obamacare Costs

Paul Joseph Watson | Contradicting White House claim that new regulations will be “affordable”.

Obamacare Triples Kentucky Family’s Insurance Overnight

Breitbart.com | “Nothing in our medical history has changed to warrant a tripling of our premiums.”

Tennessee: Obamacare will triple men’s premiums, double women’s

Washington Examiner | Obamacare will cost far more than what many of his constituents are paying today, some by as much as 190 percent.

Video Released Of Unmanned F-16 Drone Test Flight

Zero Hedge | Even more remote-controlled carnage is about to be unleashed.

Senator Warns Obama Not to Implement UN Arms Treaty

Paul Joseph Watson | Kerry to sign controversial treaty today.

Leftists Who Cheered Abortion Filibuster Slam Ted Cruz

Paul Joseph Watson | Killing babies “heroic,” opposing Obamacare offensive.

Peter Boockvar: “There Is 0% Chance That This Ends Smoothly”

Zero Hedge | As Boockvar notes, “there is 0% chance this ends well.”

Somebody Stole 7 Milliseconds From the Federal Reserve

cryptogon.com | This is interesting, but I’m sure that these news based trades are being set up days in advance with much smaller volumes.

Internet Sales Tax Could Crush Small Businesses

Ron Paul | One unique aspect of my homeschool curriculum is that students can start and manage their own online business.

Goldman Warns Fed Chair Nomination Could Take 3 Months

Submitted by Tyler Durden on 09/24/2013 - 19:28

Goldman, in line with consensus and PaddyPower, now expects the President to nominate Janet Yellen to be the next Federal Reserve Chair and despite comments yesterday from thw White House, they expect the announcement to come soon. However, this week's political calendar may be too crowded to make an announcement. Assuming a government shutdown is avoided, an announcement could come as soon as early next week; but they note the President's schedule may force an announcement to the following week. The risk of a failed confirmation vote appears very low to them but with the debt ceiling debate and concerns over delays due to fears over asset-purchases, Yellen may not be confirmed before the December FOMC meeting. The following Q&A answers most of the critical questions.

French Court Orders Flagship Sephora Store Not To Work So Much

Submitted by Tyler Durden on 09/24/2013 - 18:56

When it comes to the "fairness doctrine", there was always some confusion in the matter of work ethic: how was it fair that some should work under the socialism-endorsed confines of a 29.5 hour workweek, while being forced to suffer the indignity and moral denigration of watching others labor under the faux guise of capitalism, putting in 60, 80, even 100 or more hours per week in the pursuit of self-actualization, contentment and general happiness? Furthermore, as has been well documented, despite rumors the contrary, the biggest incubator of neosocialism the "fairness doctrine" is not the US, nor Leningrad (sic), but France.... Sephora's flagship Champs Élysées cosmetics store, one which attracts six million people a year or nearly as many as the Eiffel Tower, has been ordered by a French appeals court to close at 9 pm at the latest because it "breached work-time regulations by hosting customers until midnight on weekdays and 1 am on weekends."

An Alternative View Of Why The Fed Did Not (and Will Not) Taper

Submitted by Tyler Durden on 09/24/2013 - 18:28

A few years back Chairman Bernanke was asked by a financial reporter how confident he was that the Fed could easily start the process of withdrawing from the accommodation of “unorthodox” monetary policy. Some might argue (ourselves included) that the answer 'should' be something like “very confident” or “We feel we have the right tools and the right people to manage that process”. Instead the answer given was “100%”. At last week's press conference, Chairman Bernanke, in CitiFX Technicals' view, looked like the “cat that got the cheese", despite the more downbeat message he was giving? Why? Because he got his way. In their “conspiracy theory” interpretation it is likely that Janet Yellen’s nomination will indeed be announced in the near future and that tapering is now firmly back off the table despite the guidance given in recent months to the contrary. Bonds seem to agree (so far).

Peter Boockvar: "There Is 0% Chance That This Ends Smoothly"

Submitted by Tyler Durden on 09/24/2013 - 17:53

CNBC just aired a fascinating segment that pitted anchors Mandy Drury and Brian Sullivan (squarely in the markets-are-going-up-and-the-world-must-be-rosy camp) against a more skeptical Herb Greenberg and an awfully fact-based reality agent - Peter Boockvar. Well worth taking the time to witness the cognitive dissonance of believing the market strength is unrelated to the Fed and yet a Fed unable to Taper even a few billion for fear of repercussions... as Boockvar notes, "there is 0% chance this ends well."

Watch Ted Cruz's Anti-Obamacare Fiscal-ibuster - Live Webcast

Submitted by Tyler Durden on 09/24/2013 - 17:35

For those willing to share in the next few hours of defund-Obamacare discussion from Senator Ted Cruz (tag-teaming a little with Rand Paul) as he talks his way through the night (having started at 2:41pm ET) - ending only when he is "no longer able to stand," or the 15-hour Senate floor limit; the following link provides the blow-by-blow (water works and all).

Obama-Rouhani Meeting Cancelled: "It's Complicated"

Submitted by Tyler Durden on 09/24/2013 - 17:26

Despite President Obama's heavy focus on Iran in his speech this morning, a potential encounter at the UN (like ships passing in the night?) between the US President and Iranian President Hassan Rouhani failed to take place. Iranian officials indicated that "it was too complicated," and "there will be no meeting." As Reuters reports, the officials, who spoke on condition of anonymity, told reporters that Obama had been open to a meeting with Rouhani while both were in New York for U.N. activities but the Iranians were not ready to have an encounter at the presidential level. The good news - following Rouhani's speech decrying external intervention and use of drones - John Kerry will meet with his Iranian counterpart - that should end well.

Iranian President Rouhani Speaks "Iran Is An Anchor Of Stability" - Live Webcast

Submitted by Tyler Durden on 09/24/2013 - 17:09

We listened to President Obama with bated breath... one wonders how many times President Rouhani will mention the US...

*IRAN POSES NO THREAT TO THE WORLD OR REGION, ROHANI SAYS
*MOVE TO REDRAW POLITICAL BORDERS DANGEROUS, PROVOCATIVE: ROHANI
*IRAN IS A HARBINGER OF JUST PEACE AND SECURITY, ROHANI SAYS
*ROHANI CRITICIZES VIOLATIONS OF PALESTINIANS' RIGHTS

*USE OF DRONES TO FIGHT TERRORISM SHOULD BE CONDEMNED: ROHANI

From The Tip Box: "The Fed Made It Possible For Many People To Leak It"

Submitted by Tyler Durden on 09/24/2013 - 16:43

"I knew of the Fed decision and growth forecasts around 5-6 minutes before 2 pm last Wednesday, even though I was not there. I work at a news organization represented at the Fed statement “lockup” and the Bernanke press conference last week. This was in no way secure the way the Labor and Commerce Department lockups are. Those in the Fed statement lockup were able to communicate by text message and email after they received the statements and before 2 pm. Those in the room awaiting the press conference also were able to communicate electronically after the received the statement, several minutes before 2 pm. Everything was honor-based, but anyone in their respective newsrooms could have gotten the information early from them and passed it on. Given the large number of reporters involved, there are many ways the decision could have gotten into the market several minutes before the announcement. I am truly surprised it was only seen in gold trade.  The fact is, though, the Fed made it possible for many people to leak it."

Bonds Up, Gold Up, USD Up, Oil Up... Stocks Down (Since FOMC)

Submitted by Tyler Durden on 09/24/2013 - 16:14

Bonds were sending very different messages from stocks from shortly after the open (when POMO began) and never looked back. As Homebuilders surged in their HIMO way squeezing everyone yet again, stocks surged back above the crucial 1,700 level in the S&P and VIX was pressured lower... but bonds kept falling in yield. Some said - stocks were rallying on Obama's friendly tones (umm no - oil up and safety bid for TSYs?). EUR weakness drove the USD higher on the day and despite the ubiquitous opening smackdown in precious metals, Gold and Silver ended the day almost unchanged. The belly of the Treasury curve plunged below the FOMC-kneejerk low yields to 7-week lows - with yields down 20-25bps from the FOMC statement (gold still higher and stocks lower). The 4th down day in a row for the first time in 5 weeks with heavy volume into the close as the S&P ended near cash-lows (though the market went apoplectic in the last minute).

60 Senators Sign Letter Protesting Japanese Currency Manipulation

Submitted by Tyler Durden on 09/24/2013 - 15:22

Despite the 'support' of the G-20 and the self-deceiving belief that Japan is 'not' manipulating its currency; 60 US Senators appear confused. In a letter to Treasury Secretary Jack Lew and Trans-Pacific-Partnership Trade Rep Michael Froman, the Senators demand they "address one of the 21st century's most serious trade problems: foreign currency manipulation." In order to ensure any agreements meet the "high standards" that America's workers deserve, Lew and Froman are directed to include "strong and enforceable disciplines," for any currency manipulations. Cue Abe protestations at US policy...

Guest Post: The Big-Picture Economy, Part 2: Surplus, Spending And Debt

Submitted by Tyler Durden on 09/24/2013 - 14:57

The point here is that we can only sustainably distribute the nation's surplus that is left after capital investment. Borrowing or creating vast sums of money to paper over the fact that we're spending more than we generate in surplus fosters an entirely illusory sense of wealth and prosperity. Eventually the interest owed on debt crowds out all other spending, and the debt-based system implodes. Borrowing money to fill the gap between what we want to spend and what we generate in surplus incentivizes fraud and speculation and creates a pernicious sense of entitlement: we can have it all, everyone can have everything they want, and there is no need for sacrifice, thrift or hard choices.

THe CoNTiNuouS FaRCe oF BiG NoSe JaMie... Posted by: williambanzai7 Post date: 09/23/2013 - Fulla Bologna!

THe CoNTiNuouS FaRCe oF BiG NoSe JaMie...

Submitted by williambanzai7 on 09/23/2013 12:31 -0400

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Support your local artist...

WilliamBanzai7 Fine Art Prints

Inquiries: [email protected]

Political Dis-Unity, Fed Dis-Credited, And Market Dysphoria

Submitted by Tyler Durden on 09/24/2013 - 10:36

Markets, risk assets in particular, do not like political dis-unity. The FOMC seem dis-unified; delivery differing messages.  Comments by Dudley and Fisher were not just marginally different, but rather stark contrasts.   Trust in the Fed and in its’ communication strategy have been tarnished.   Markets are now confused as to when, why, and how the Fed will be able to change course. When the taper is in full-swing that equities and bonds will drift to lower prices.  However, the immediate trade may require paring risk, and rebalancing portfolios, i.e. stocks down, bonds drifting higher in price (risk off).

Consumer Confidence Drops Most In 6 Months To 4 Month Low

Submitted by Tyler Durden on 09/24/2013 - 10:11

Following UMich confidence's biggest miss on record, the Conference Board misses expectations printing at its lowest since May 2013 as the last data was revsied higher. This is the largest MoM drop since March. Crucially, the headline index was saved by a surge in the "present situation" as expectations for the future plunged. As a reminder, Consumer Confidence has an awkward 4 year 4 month pattern of dysphoria to euphoria (though at progressively lower levels) and today's data merely confirms that the cycle of exuberance may have been broken.

President Obama Addresses The UN - Live Webcast

Submitted by Tyler Durden on 09/24/2013 - 10:02

This should be fun. With Rouhani in the house, Nobel-Peace-Prize-winner President Obama will address the oh-so-supportive-of-his-wars United Nations this morning. As AP reports, seeking to build on "diplomatic opportunities" is expected to signal his openness to discussions with Iran (even a wink in his direction would work since there has been no face-to-face contact in 30 years). Also high on Obama's agenda at the U.N. was rallying Security Council support for a resolution that would establish consequences for Syrian President Bashar Assad's regime if it failed to adhere to a U.S-Russian plan to turn over its chemical weapons. And we wonder if he'll mention them nasty Republicans wanting to shut his government down?

The Unstoppabull "Housing Recovery": Despite Bankruptcy Detroit Home Prices Soar To Five Year High

Submitted by Tyler Durden on 09/24/2013 - 09:38

If anyone had reservations about the monthly Case-Shiller report, or at least the logic in the methodology used by the S&P data collectors, we present Exhibit A, which should solidify any such doubts. Below we show Detroit "home prices", which according to the just announced July NSA data, soared even higher, to level of 90.8, which just happens to be a 17% increase Y/Y, and the highest print since August 2008. Bankruptcy? Pfft - who cares when the government is funding Blackstone REO-to-Rent made-to-flip purchases.

July Case-Shiller Housing Index Misses For Third Month In A Row, Pace Of Increase At 10 Month Lows

Submitted by Tyler Durden on 09/24/2013 - 09:21

There was something for everyone in the just released July Case-Shiller house price index. On one hand, on a year over year basis, the NSA Composite 20 city index rose 12.39% in July, up from 12.07% in June, and in line with expectations of a 12.40% increase. This was the highest annual price increase since the start of the great financial crisis. On the other hand, the same Composite-20 Index increased by just 0.62% in July on a SA M/M basis, missing expectations of a 0.80% increase, and down from the 0.88% increase in June. This was the third consecutive miss on a M/M basis, and while the Case-Shiller index continues to still rise, the momentum as can be seen in the chart below, is starting to fade, with the monthly increase posting at the lowest rate since September of 2012 when the rise was 0.52%.

Goldman Promptly Jumps On The Bullish AAPL Momentum Bandwagon, Hikes Price Target To $560

Submitted by Tyler Durden on 09/24/2013 - 08:56

Whether or not AAPL's reported sales are accurate or merely the latest manifestation of channel stuffing is irrelevant: what matters to the sellside is that upside momentum, at least for a few days, seems to be back in the biggest tech stock and the immediate result is quite predictable - the sellside resumes piling in and selling their axed exposure to clients. In other words, they are coming out with increased price targets on the stock, most notable this morning from Goldman which just hiked its AAPL target from $530 to $560.

Credit Suisse Closing "Non-Super Rich", "Risky" Client Accounts

Submitted by Tyler Durden on 09/24/2013 - 08:35

In a move that clearly seeks to distance the second largest Swiss bank from potentially "risky" or just not that profitable (read "rich or super rich") accounts, Credit Suisse announced today that it plans to close some clients' accounts as it focuses on high-value customers in some countries and pulls out of others altogether. The development is somewhat ironic: while banks around the world scramble to obtain ultra cheap funding, of which deposits are currently the cheapest alternative, Credit Suisse is saying to people, thanks but no thanks, we don't want your money. Then again, perhaps this is an admirable stance by the bank. It certainly is preferable to CS eagerly accepting every last Swiss Franc only to pull a Cyprus in a few months (indicatively speaking) and "bailing in" said money. It does however pose the question: has CS found an alternative method of funding its assets now that it is actively deleveraging, and if so what, and who is the source?

Major 7.8 Magnitude Earthquake, 5.9M Aftershock Shakes Pakistan, India

Submitted by Tyler Durden on 09/24/2013 - 08:01

A few minutes ago headlines hit that as a result of a strong earthquake, buildings shook in Delhi, India. Moments later, the USGS confirmed that a major 7.8 magnitude earthquake with an epicenter 9 miles below the Awaran/Balochistan region in Pakistan had struck, some 43 miles NNE of Awaran, and close to the India border. It is unclear yet if the two quakes were the same although it seems likely. Reuters had this preliminary report: "An strong earthquake struck remote western Pakistan on Tuesday and was felt in the Indian capital of New Delhi where buildings shook. The United States Geological Survey said that a 7.8 magnitude quake struck 145 miles southeast of Dalbandin, in Pakistan's western province of Balochistan."

This Deutsche Bank-er Is Skeptical Of AAPL's Sales Report

Submitted by Tyler Durden on 09/24/2013 - 07:48

"As an anecdotal aside it was interesting that Apple yesterday reported above consensus iPhone sales on the first weekend of the new launches. When I upgraded in a phone shop on Friday there was no queue, a load left in stock and a number of extra staff put on who were standing around doing nothing. They said they all arrived early to handle the queues, only to find that their first customer didn't arrive until 30mins after opening. So my experience seemed to be different from the rest of the world as Apple climbed +4.97% yesterday after the impressive sales numbers and also guidance at the top of the range from the company on revenues and gross margins." - Deutsche Bank's Jim Reid

Frontrunning: September 24

Submitted by Tyler Durden on 09/24/2013 - 07:28

  Iran Icebreaker Set at U.N.  (WSJ)

  Chrysler Feud Triggers IPO Filing  (WSJ)

  JPMorgan Chase, 12 More Banks Said to Be Sued Over Libor (BBG)

  Regulator sues Morgan Stanley, eight others over faulty securities (Reuters)

  Monte Paschi Seen Boosting Cost Goals to Meet EU Demands (BBG)

  Here we go again - "not enough funds": CFTC chair Gary Gensler warns on fund cuts to police derivatives (FT)

  Congress Fuels Private Jails Detaining 34,000 Immigrants (BBG)

  KKR, Sycamore looking to buy Jones Group this week (NYPost) - take with lots of salt

  Fiat rethinks alliance with Chrysler after IPO filing (Reuters)

  Young Invincibles Caught in Crossfire Over Obamacare Cost (BBG)

  Mayfair Office Squeeze Spawns New London Real Estate Hubs (BBG)

Ongoing Deterioration In Core Europe Pushes Dollar Higher, Risk Lower

Submitted by Tyler Durden on 09/24/2013 - 07:03

Everything was proceeding according to central-plan with a gradual rise in risk and a decline in the USD until 4 am Eastern, when the German IFO Business Climate data was released and missed across the board (107.7 vs Exp. 108.0; Current assessment 111.4 vs Exp. 112.5; Expectations 104.2 Exp.104.0), reminding everyone now that Merkel is cemented for the near future, the immediate prerogative for Europe is to get the EUR lower, one way or another. A returning bid to the dollar also has pushed 10 Year yields under 2.70%, while once again sending various EM currencies sliding, and bringing back cross asset volatility to a world whose Sharpe ratio over the past several months has plummeted into negative territory. Increasing concerns about a government shutdown (misplaced) will likely prevent a solid bid from developing under markets.

GALLUP: Belief That Gov't Too Powerful Hits Record High...

Parisian cat cafe offers 'purr therapy'...

Brazil's president hammers Obama over spying...

'Serious violation of human rights, disrespect to sovereignty of my country'...

'Without the right of privacy, there is no real freedom of speech'...

REPORT: Michelle O has nearly 2 million FAKE TWITTER followers...

T-MINUS 6 DAYS: Not plan president sold America...

Horror stories emerge: Family's premiums triple...

Doctors Brace for Surge of Patients...

Frustration Mounts...

Many small-business exchanges not ready...

SPOOKED: Obama taps 'Secretary of Explaining Stuff' to sell...

IN MEMORY OF MRS BaNZai7... Posted by : williambanzai7 Post date: 09/24/2013 - This one's for you Mom...

IN MEMORY OF MRS BaNZai7...

Submitted by williambanzai7 on 09/24/2013

MRS BANZAI7

My Mom passed away two weeks ago today.

Many of you know that she was an avid reader of Zero Hedge.

While it is true that she read every Banzai7 post including all of the comments and links, she also read many of the other posts on the site, particularly those that she was able to navigate without a background in finance (try though she did).

My Mom and Dad both survived the worst hardship and suffering inflicted in the middle of the last century, in particular WWII.

It is no surprise she hated everything about war and the corruption that we know goes with it.

Consequently, she was one of my two main barometers when it came to measuring the current state of world affairs against the past, the other being my Dad.

As I have mentioned, she was appalled by everything that has happened since 9/11 and more recently the kleptofascist freakshow we call Wall Street and Vichy DC. For a person in her mid-eighties, she had an uncanny grasp of what was happening and made no secret of it. She got some of the names mixed up at times, Ben Corzine, Lloyd Bernanke etc., but she knew the score.

Her demise was unexpected and although she was thoroughly disgusted by current events, I am pleased to report that she was cheerfully living a pleasant and active life style to the very end.

I was with her during her final moments via two iPads and made a point of telling her, among other important things, that we were not going to war in Syria and I am sure she heard what I said about the latest episode of the Obozo show.

Rather than keeping this to myself, I have decided to share it with you for two reasons.

First, many of you have said some very nice things here that were meant as a compliment to her. I want you to know that those comments did not go unnoticed and genuinely made her day. They served as a direct affirmation of her unequivocable support for what I have been doing since 2008.

On her behalf, thank you.

Second, as I now do these posts I am still comforted by the warm feeling of knowing how much she approved. I won't be able to review the posts with her daily on Skype (sorry NSA), but I know what she would have thought and that just quadruples my resolve to keep doing what I am doing.

It is  estimated that 250 people attended Mom's memorial service, a standing room only crowd.

This was a person who touched many people in a positive way and will be deeply missed in her community.

During all the frustration we have experienced during the past several years she would constantly recite the serenity prayer:

“Lord grant me the serenity to accept the things I cannot change,

the courage to change the things I can, and the wisdom to know the difference.”

Wise words to follow.

This one's for you Mom...

R.I.P.  

Your loving son,

WilliamBanzai7

Looking at guns in Mexico and at some farmers that take law into their own hands Posted by : hedgeless_horseman Post date: 09/23/2013 - "My daughter was raped and abducted," said a Mexican farmer.  President Obama says, "What's different in America is it's easy to get your hands on a gun."

Islamic Terror Groups Are Killing Christians All Over The World And Obama Wants Us To Ally With Them

Over the past couple of days, we have witnessed some absolutely horrific examples of Islamic terror groups specifically targeting Christians and those from other non-Muslim religions.  Sadly, this is not a new phenomenon.  Radical Islamic jihadists are constantly attacking churches and slaughtering Christians all over the planet.  The recent events in Pakistan, Kenya and Egypt may have taken this persecution to a new level, but this is just the continuation of a trend that has been building for years.  Unfortunately, Barack Obama does not seem too concerned about Islamic terrorism.  In fact, he specifically directed that “all references to Islam” be removed from terrorism training materials that the federal government uses.  If that wasn’t bad enough, now Obama is actually supplying weapons to the radical jihadist rebels that want to take over Syria, and he appears to be very ready to use the U.S. military to attack the Assad regime directly if “negotiations” with the Syrian government fail.  In essence, Obama wants the United States to be allies with psychotic jihadists that have the exact same radical philosophy that those who are killing Christians in Pakistan, Kenya and Egypt have. (Read More.....)

Spy Agencies Are Doing WHAT? Posted by: George Washington Post date: 09/23/2013 - 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:

  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.  For example, the NSA "oversight" court believes the mere claim that terrorists use the phone system is enough to show that all phone records are relevant

  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 Drug Enforcement Administration has had direct access to AT&T phone records for 25 years

  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

  The Department of Health and Human Services will also have access to vast quantities of sensitive federal data on Americans as part of Obamacare (here's the underlying Government Accountability Office report)

  The NSA not only shares our information with other American agencies, it also gives personal, sensitive unfiltered information on Americans to Israel and other foreign nations

  And it's not only governments.  Private contractors can also view all of your data (and the government isn’t keeping track of which contractors see your data and which don’t). And because background checks regarding some contractors are falsified, it is hard to know the types of people that might have your information.  Indeed, private contractors are involved in spying on behalf of governments world-wide

  It's not just your computer and your phone. It is well-documented that the government may be spying on us through cars and buses, streetlights, at airports and on the street, via mobile scanners and drones, through our smart meters, and in many other ways

  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 (more here and here)

  They say we can, instead, keep everyone safe without violating the Constitution ... more 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 had no idea what the NSA is doing. Even staunch defenders of the NSA - and congress members on the intelligence oversight committees - 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.

  When these judges raised concerns about NSA spying, the Justice Department completely ignored them

  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 most – one (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"

  You're much more likely to be killed by brain-eating amoeba, lightning or a toddler than by terrorism. 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

  A Harvard law school professor - and director of the Berkman Center for Internet & Society at Harvard University - says:

"The NSA has mounted a systematic campaign against the foundations of American power: constitutional checks and balances, technological leadership, and market entrepreneurship. The NSA scandal is no longer about privacy, or a particular violation of constitutional or legislative obligations. The American body politic is suffering a severe case of auto-immune disease: our defense system is attacking other critical systems of our body".

  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

  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.  For example, Facebook lost 11 millions users as of April mainly due to privacy concerns (and that was before the Snowden revelations).  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

  The NSA spying program is unambiguously being used for industrial espionage, by spying on large foreign corporations, and the biggest financial payments systems such as VISA and Swift.  Indeed, in a slide leaked by Edward Snowden, "economic" was one of the main justifications for spying

  The top U.S. spy's justifications for such financial spying is not very reassuring:

"We collect this information for many important reasons: for one, it could provide the United States and our allies early warning of international financial crises which could negatively impact the global economy. It also could provide insight into other countries' economic policy or behavior which could affect global markets."

  Top financial experts say that the NSA and other intelligence agencies are using the information to  profit from this inside information

  The Wall Street Journal reported that the NSA spies on Americans’ credit card transactions.  Many other agencies are doing the same. In fact, virtually all U.S. intelligence agencies – including the CIA and NSA – are going to spy on Americans’ finances. The IRS will also be spying on Americans’ shopping records, travel, social interactions, health records and files from other government investigators

  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.  Members of the Executive, Legislative and Judicial branches of government have all praised the debate on spying which Snowden's leaks started

  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. The government claimed that most spying programs ended in 2011, when - in fact - they were expanded that year

  Obama says he'll rein in spying ... but his words and deeds indicate that he won't.  Indeed, Obama appointed the fox to guard the chicken coop. No wonder 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.  One of the chairs of the 9/11 Commission agrees

  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

  The NSA treats the American people with contempt.  For example, Spiegel notes:

"The authors of the [NSA slides] draw a comparison with "1984," ... revealing the agency's current view of smartphones and their users. "Who knew in 1984 that this would be Big Brother …" the authors ask, in reference to a photo of Apple co-founder Steve Jobs. And commenting on photos of enthusiastic Apple customers and iPhone users, the NSA writes: "… and the zombies would be paying customers?

  Worse, the intelligence agencies often view normal, true-blue Americans as potential terrorists (and see this)

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

  There are indications that the spy agencies aren't just passively gathering information, but are actively using it in mischievous ways

  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

Making $100,000? Then Flipping Burgers May Be In Your Future

Submitted by Tyler Durden on 09/23/2013 - 18:06

"I'm not going to sit on my laurels and say I was an executive making six figures and traveling the world,” 77-year-old Tom Palome says, "I tell people I demonstrate food and I do short-order cooking. I don’t mind saying it. What's important is that I can work today." As Bloomberg reports, the former vice president of marketing for Oral-B juggles two part-time jobs: one as a $10-an-hour food demonstrator at Sam’s Club, the other flipping burgers and serving drinks at a golf club grill for slightly more than minimum wage; a sad but all too real reflection of the new normal 'job' gains that our economists and politicians love to crow about. Why is he still working? Like most Americans, he didn't save enough for retirement (despite working hard his entire career). About 7.2 million Americans over 65 were employed last year, a 67% increase from a decade ago as 59% of households headed by people over 65 have no retirement assets.

NJ property taxes up 13% under Christie...

Obama applauds mayoral candidate's vow to hike taxes in NYC...

CNN: 3 alleged Kenya attackers from USA...

Raises concerns in U.S....

Gunmen executed non-Muslims after asking them to name Prophet Mohammed's mother...

Deep cuts at agency responsible for investigating health-care fraud...

Secret American Subculture of Putin-Worshippers... { Secret … I doubt it … I believe the Russia/Putin ‘miracle’ is worthy of praise and world class global recognition as such! }

Movement grows to repeal Obamacare 'exemption' for Congress...

'Could they be more out of touch?'

OBAMA: Republicans 'trying to mess with me'...
'We are not some Banana Republic'...  { Au contraire … http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf      http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm       http://albertpeia.com/fbimartinezcongallard.htm    }

13 shot in mass shooting at Chicago park...
3-year-old boy shot in face...

CA Dem wishes death upon Ted Cruz staffer's children...

17,679 things the federal government has done since sequestration...

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

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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

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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

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WilliamBanzai7 Fine Art Prints

Inquiries: [email protected]

Our operatives are waiting to assist you...

Russia’s Putin Says He May Seek 4th Term as President  { Indeed he should! }

RIA Novosti | Putin said Thursday that it was possible he would seek a fourth presidential term.

Three NATO Soldiers Killed in Afghan 'Insider Attack'...

Troop deaths hit record as America exits...

DOPE FIEND FUNNIES

DOPE FIEND FUNNIES, a photo by WilliamBanzai7/Colonel Flick on Flickr.

DEBT BROTHER

DEBT BROTHER, a photo by WilliamBanzai7/Colonel Flick on Flickr.

Thursday, September 19, 2013

THE DUKES OF MORON HAZARD

THE DUKES OF MORON HAZARD, a photo by WilliamBanzai7/Colonel Flick on Flickr.

FRONTIER JUSTICE

FRONTIER JUSTICE, a photo by WilliamBanzai7/Colonel Flick on Flickr.

RUDOLF VON HAVENSTEIN

RUDOLF VON HAVENSTEIN, a photo by WilliamBanzai7/Colonel Flick on Flickr.

Wednesday, September 18, 2013

QE 1929

QE 1929, a photo by WilliamBanzai7/Colonel Flick on Flickr.

TAPERED

MORNING LIGHT

MORNING LIGHT, a photo by WilliamBanzai7/Colonel Flick on Flickr.

Tuesday, September 17, 2013

MUTTI HAIRY

MUTTI HAIRY, a photo by WilliamBanzai7/Colonel Flick on Flickr.

DOCTOR OBAMACARE, a photo by WilliamBanzai7/Colonel Flick on Flickr.

Are You Prepared For An Extremely Bitterly Cold Winter? Solar Activity Is At A 100 Year Low

Are you ready for bone chilling cold this winter?  The Old Farmer’s Almanac and other weather forecasters that rely on solar activity as a factor in their weather forecasts are projecting that this upcoming winter will be bitterly cold.  Solar activity is at a 100 year low, and even though we were supposed to be in the midst of a solar maximum this year, our sun has been eerily quiet.  So precisely what in the world is going on?  There have been other periods throughout history when solar activity has been extraordinarily quiet, and those times have corresponded with periods of extreme cold.  For example, the “Maunder Minimum” which stretched from 1645 to 1715 corresponded with the most bitterly cold period that the earth experienced in the last 1000 years.  So could we be heading toward another “mini-ice age”?  That is a question that some scientists are now beginning to ask.

Clearly, something unusual is happening with our sun.  The following is from a Universe Today article that was posted back in (Read More....)