Saturday, November 30, 2013
Thursday, November 28, 2013
David Stockman Fears "Panic" When The "Lunatic" Fed "Loses Control"
Well, David Stockman certainly isn't drinking the Kool-Aid. I agree with him, but timing bursting of asset bubbles is never easy to do. As exaggerated as asset prices are in equities, they can become stretched to even more irrational levels in a melt up.
Even if nominal values appreciate, if the sovereign fiat currency in question is in a free fall, real wealth is not achieved. For example, if soaring stock markets are an accurate indicator of prosperity, Zimbabwe would be the wealthiest nation in the world. Clearly, that is not the case for the former advanced economy of the once-prominent Rhodesia.
Stockman's case for the Fed exporting currency devaluation to other countries is absolutely true, as central bank balance sheets are exploding globally. Jim Rickards wrote his best-selling Currency Wars on that very premise of a race to the bottom. Currency wars never end well, but when the entire planet is doing it (which is unprecedented in world history), the outcomes may very well be our worst nightmare economically.
http://www.zerohedge.com/news/2013-11-27/david-stockman-fears-panic-when-lunatic-fed-loses-control
Even if nominal values appreciate, if the sovereign fiat currency in question is in a free fall, real wealth is not achieved. For example, if soaring stock markets are an accurate indicator of prosperity, Zimbabwe would be the wealthiest nation in the world. Clearly, that is not the case for the former advanced economy of the once-prominent Rhodesia.
Stockman's case for the Fed exporting currency devaluation to other countries is absolutely true, as central bank balance sheets are exploding globally. Jim Rickards wrote his best-selling Currency Wars on that very premise of a race to the bottom. Currency wars never end well, but when the entire planet is doing it (which is unprecedented in world history), the outcomes may very well be our worst nightmare economically.
http://www.zerohedge.com/news/2013-11-27/david-stockman-fears-panic-when-lunatic-fed-loses-control
Wednesday, November 27, 2013
Here’s The Truth Governments Don’t Want The Public To See
Inflation 101: concepts that professional Keynesian economists can't or won't wrap their heads around.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/11/26_Heres_The_Truth_Governments_Dont_Want_The_Public_To_See.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/11/26_Heres_The_Truth_Governments_Dont_Want_The_Public_To_See.html
Monday, November 25, 2013
Sunday, November 24, 2013
Inflation is Raging – If You Know Where to Look
I would add BitCoin to the list of tangible assets experiencing inflation.
http://dollarcollapse.com/inflation/inflation-is-raging-if-you-know-where-to-look/
http://dollarcollapse.com/inflation/inflation-is-raging-if-you-know-where-to-look/
Saturday, November 23, 2013
Friday, November 22, 2013
PBOC Says No Longer in China’s Interest to Increase Reserves
The beginning of the end for USdollar supremacy...
http://www.bloomberg.com/news/2013-11-20/pboc-says-no-longer-in-china-s-favor-to-boost-record-reserves.html
http://www.bloomberg.com/news/2013-11-20/pboc-says-no-longer-in-china-s-favor-to-boost-record-reserves.html
Thursday, November 21, 2013
Wednesday, November 20, 2013
Labor Force Participation Rate
Word is finally leaking out that the Bureau of Labor Statistics fudges their unemployment data, painting a rosier employment picture than reality. It renders the U-3 unemployment rate completely meaningless and masks the truly precarious joblessness of the US.
The labor force participation rate is the true indicator of how putrid the labor economy is. It has sunk to a 35-year low. The US was embroiled in one of the worst recessionary stagflations under the Jimmy Carter presidency in 1978. The US economy wasn't growing then--and it's not growing today, despite equally rigged GDP growth data--again, released by the BLS.
Government statistics have become one big propaganda campaign of disinformation. Actual labor force participation may be even worse, as the rate is published by...you guessed it...the BLS.
The labor force participation rate is the true indicator of how putrid the labor economy is. It has sunk to a 35-year low. The US was embroiled in one of the worst recessionary stagflations under the Jimmy Carter presidency in 1978. The US economy wasn't growing then--and it's not growing today, despite equally rigged GDP growth data--again, released by the BLS.
Government statistics have become one big propaganda campaign of disinformation. Actual labor force participation may be even worse, as the rate is published by...you guessed it...the BLS.
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US Fed to get greater powers: Bernanke
As usual, the headlines are misleading. The Fed is enacting laws--in conjunction with the International Monetary Fund--to prevent a taxpayer-funded bank bailout at the onset of the next financial crisis. It sounds reasonable and noble enough, given the plundering of tax funds to recapitalize the collapsed banking industry in 2008.
The problem is the solutions they are now proposing, but are not being reported to the masses, include bank bail-ins, which target credit holders and "investors" in the bank. In other words, they will raid customer deposits.
http://www.heraldsun.com.au/business/breaking-news/us-fed-to-get-greater-powers-bernanke/story-fni0xqe4-1226756295740
The problem is the solutions they are now proposing, but are not being reported to the masses, include bank bail-ins, which target credit holders and "investors" in the bank. In other words, they will raid customer deposits.
http://www.heraldsun.com.au/business/breaking-news/us-fed-to-get-greater-powers-bernanke/story-fni0xqe4-1226756295740
Gold Manipulation Probed By U.K. Regulator
Every market has been rigged and manipulated. All except the precious metals sector. At least that's what the status quo wants the sheeple to believe.
http://www.zerohedge.com/news/2013-11-19/gold-manipulation-probed-uk-regulator
http://www.zerohedge.com/news/2013-11-19/gold-manipulation-probed-uk-regulator
Tuesday, November 19, 2013
Ex-Fed official: 'I'm sorry for QE'
This is another example of a former government official speaking the truth only AFTER he leaves office.
http://www.cnbc.com/id/101192690
http://www.cnbc.com/id/101192690
Moody’s cuts ratings of three big US banks
First the good news: tax payers will no longer be on the hook for bailing out banks in the event of a banking crisis.
Here's the bad news: depositors and credit holders will be raided in the event of a bank bail-in.
http://www.cnbc.com/id/101200595
Here's the bad news: depositors and credit holders will be raided in the event of a bank bail-in.
http://www.cnbc.com/id/101200595
Economists: Long-term joblessness is national emergency
It is not coincidental that former government workers only speak the truth AFTER they are no longer working for the government.
http://www.mcclatchydc.com/2013/04/24/189574/economists-long-term-joblessness.html
http://www.mcclatchydc.com/2013/04/24/189574/economists-long-term-joblessness.html
Monday, November 18, 2013
Saturday, November 16, 2013
Thursday, November 14, 2013
Sunday, November 3, 2013
eBay CEO weighs PayPal bitcoin option
I told you so. Those who doubted the legitimacy of digital currencies were short-sighted. I blogged about this here. Now Ebay and PayPal are planning to incorporate crypto-currencies. I knew this because I saw PayPal and VISA representatives at a small BitCoin gathering in San Francisco.
http://www.coindesk.com/ebay-ceo-weighs-paypal-bitcoin-option/
http://www.coindesk.com/ebay-ceo-weighs-paypal-bitcoin-option/
Annihilation of U.S. Dollar Coming-Jim Sinclair
Let me de-brief you on Jim Sinclair's track record. He predicted gold would soar above $850 in the 1970's, when it was fixed at $35. He sold at the 1980 absolute top--to the day, at $875.
When gold was languishing below $300 a decade ago, he predicted gold would reach $1650. In 2011, gold reached a peak of $1923. With gold in the low $1300's recently, he is forecasting price targets of $3,500--and $50,000.
I hope he is wrong. But over the last four decades, he hasn't been.
http://usawatchdog.com/jim-sinclair-50000-gold-us-dollar-collapse-hyperinflation-and-more/
When gold was languishing below $300 a decade ago, he predicted gold would reach $1650. In 2011, gold reached a peak of $1923. With gold in the low $1300's recently, he is forecasting price targets of $3,500--and $50,000.
I hope he is wrong. But over the last four decades, he hasn't been.
http://usawatchdog.com/jim-sinclair-50000-gold-us-dollar-collapse-hyperinflation-and-more/
Sinclair predicts, by 2016, “Gold will be $3,200 to $3,500 an ounce.” By 2020, Sinclair predicts, “Emancipated gold will be $50,000 per ounce.”
Israel ‘furious’ with White House for leak on Syria strike
The roster of US allies pissed of at Washington is growing. Conversely, the list of US allies is shrinking.
http://www.timesofisrael.com/israel-furious-with-white-house-for-leak-on-syria-strike/?utm_source=dlvr.it&utm_medium=twitter
http://www.timesofisrael.com/israel-furious-with-white-house-for-leak-on-syria-strike/?utm_source=dlvr.it&utm_medium=twitter
We Are Now In The “Last Innings” Of The End Game
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/31_We_Are_Now_In_The_Last_Innings_Of_The_End_Game.html
The Western world is still faced with increasing debt. The mainstream media has been focused on the fact that there was a very small decline in the budget deficit, but if you look back in history it took the United States 192 years to rack-up $1 trillion of debt. Then, the next $1 trillion of debt took only 30 years. Astonishingly, now we are going through $1 trillion each year.
Right now China has somewhere on the order of $1.2 trillion, and has been diversifying away from those dollar reserves into everything from skyscrapers, to companies, to gold. The Chinese will continue to do that, but, meanwhile, because of the slowdown of international investors buying dollars, ironically the Fed has had to print dollars in order to buy dollars (laughter ensues). That, too, is unsustainable.
Saturday, November 2, 2013
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