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  • suchara
    The Economic is developing and also I developed site, where you can find contractor for any kind of work. Please check it out:

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  • Danny B
    Who is depressing oil markets? The slow strangulation of the banks

    When the U.S.S.R broke up, Russia defaulted on their bonds and killed Long Term Capital Management. When LTCM went down, it came VERY close to taking down the whole financial system.... Just one company.
    Russia crashed and was broke. They sold ALL the oil they could for a discount on the informal sector of the Rotterdam market. They managed to pull themselves back up.
    Pox Americana is presently at war with Russia. Though the price of pumping shale oil has come down, it is still moderately high. It was initially financed from the junk-bond market. Every time that oil goes down a bit, it causes losses in the finance industry.
    5/05 Oil’s plunge accelerates below $45 as US shale confounds OPEC – Bloomberg
    5/06 Suddenly, oil below $40 a barrel doesn’t seem so far-fetched – Bloomberg
    1 day difference.
    Who knows how much Russian oil goes here and there? Oil tankers are famous for changing their names while out at sea.

    Bitcoin is screaming up higher and higher. That makes it an easy target,
    5/05 Largest bitcoin exchange headed for Mt. Gox-style collapse – Zero Hedge

    Finance went from 5% of the economy to 40% of the economy. There was no corresponding increase in productivity. The upper loop just puffed itself up higher and higher. Since there was very little tangible action in finance, it is safe to say that most of the action was in information handling. That 5% to 40% increase was all done with vaporware. The banks sucked out tons of fees just for information services.
    As the deflation of the lower loop starts to bleed over into the upper loop, the banks have had to cut back. B of A has already let go 20% of their employees.
    "Over two million banking jobs could be cut in the next decade, according to a new report by Citigroup." 2015. 2015 also, 30,000 at Barclays, 23,000 at Deutsche bank. 10,000 at Unicredit.
    "In China, this 'FinTech tipping point' has been reached. The companies country's top FinTech companies (such as Alipay or Tencent) often have as many, if not more, clients than the top banks."

    "investment capital is fleeing from actively-managed funds to passively-managed ones." "more than half a trillion dollars heading into passive funds over the past 12 months, according to Morningstar.

    Active management in total saw $13.6 billion in outflows for January, " The S.O.B. investment managers just churned your money around to generate fees.
    "Well, many of the bankers who cheered the boost the machines gave to their annual bonuses aren't cheering so much now. You know what algo-driven markets don't need? Human traders."
    "The total number of people employed by all kinds of banking in the U.K. has fallen 22% from its precrisis peak in 2008, or by about 120,000 jobs,"
    "Goldman's cash equities trading floor at the firm's headquarters which, according to the MIT Tech Review, employed 600 traders its height back in 2000, buying and selling stocks for Goldman's institutional client clients. Today there are just two equity traders left."

    "As warned of in our earlier article Automating Ourselves To Unemployment, jobs lost to automation don't come back. More than that, the technology itself lowers the cost structure, ultimately lowering industry profits as other competitors invest in similar tech and the margins are competed down:

    Structural changes to the equities business over the last several years, such as the rise of electronic trading, have knocked off around $15 billion from the equities fee pool, according to a report from Morgan Stanley and management consulting firm Oliver Wyman."
    The automation eating away at the lower loop is making big inroads in the upper loop.
    "For decades and decades, more and more sharks found their way into the financial industry. And for decades and decades, there was plenty of prey for them all to feast and fatten on.

    But now we're at the point where there's much less to prey on. So the biggest sharks are now turning on the smaller ones. "
    "This is happening, mind you, at a time when the banks are in their 8th straight year of enjoying practically-free money from the world's central banks, which is essentially a great wealth transfer from the public's coffers. And at a time when financial assets have been re-inflated to all-time highs."
    So, what happens to the finance industry when we hit all-time LOWS?

    "If things have reached this cutthroat a state when Wall Street is booming, imagine how much more gruesome this "eating their young" dynamic can/will become during a market downturn.

    We're at the point where those at the apex of power are becoming increasingly desperate to maintain their unfair advantage. And as the economic pie refuses to grow due to the twin overload of too much debt and declining net energy, these apex predators will turn on each other -- first to maintain their spoils, and then simply to survive."


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  • Danny B
    French election,,, dollar-debt bubble

    After May 7th comes May 8th. If Le Pen wins, the bond market will be unhappy. If Macron wins, the EU march to oblivion will pick up speed.
    The first quarter of 2018 is scheduled to be doomsday for the Eurozone.

    It seems that emerging markets are borrowing all the dollars they can get,,, even though this caused 2 previous crashes.
    The Least Explicable Bubble Of All | Zero Hedge
    Apple has 1/4 $ trillion in cash, Apple Is Now The World's Largest Bond Fund | Zero Hedge
    A comparison between hurricanes and economic crashes, Where Do You Go in a Hurricane? | SWP Cayman Gold Storage

    5/05 Oil’s plunge accelerates below $45 as US shale confounds OPEC – Bloomberg So, oil goes down. This causes banks and drillers to crash AND, the OPECers can't service their debts.
    China is working on dumping all their dollars, PressTV-China mulls investing $500bn in Silk Road plan

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  • Danny B
    China crash as planned and the end of war

    Y'all wouldn't be reading this thread if I just posted pabulum. I look at a hundred headlines and mostly see pabulum. The big problem described in the previous post is rapidly coming into focus in many parts of the world. Y'all are going to have to do some reading if you expect to get a good understanding of the tectonic forces at work.
    For all of man's history, we have had trading empires and belligerent empires. The age of the belligerent empire seems to be coming to a close. MAD has been bumped up one step higher with the creation of the cobalt-nuclear weapons. The very destructive energetic weapons are a nebulous unknown outside of the weapons laboratories. The cobalt bomb is another story; the end of all life on earth is assured.

    With this new focus and the rise of competing economies, there is a HUGE amount of interest in where we go next as we demilitarize and automate even further. Here are a couple of articles that should be read in their entirety.

    GEAB asks the question, GEAB | Global Europe Anticipation Bulletin
    Global Systemic Crisis 2017-2021 – A phase of chaotic recomposition of the World: national re-landing, crash or rebound?

    Much of the world is VERY tired of war and is trying to create a trading economy rather than the FED imposed war economy.
    Empty Gold Vaults and Fresh Out of Bombs - The Daily Coin

    China has set it's course on an artificial growth program that was always destined to BLOW. The Chinese GOV owns all the Chinese banks. Pox Americana's attack on their system did NOT work because of this fact. When China blows, it will take down Western banks,,, as planned.
    The FED is trying to keep the mega banks alive but, when China blows.

    China and Russia are focused on gold because gold doesn't require trust. America will be able to import stuff equal to the value of it's exports. Anything over that will have to be paid in gold. The Wal Marts will go empty and employment will come back,,, to a degree. Oil imports are another story..

    Debt is growing exponentially. Debt service is growing fast & high, This Has Never Happened Before... | Zero Hedge
    Congress will fight over the debt ceiling. The FED is carrying ALL the load at present. Pox Americana has surrounded Russia and China with missiles. They can pull the plug on the American economy at ANY time. The R.O.W. will give us the middle finger if we look for help.
    Our postwar prosperity was hugely amplified by the reserve currency. This great wealth attracted great corruption. Our masters in Tel Aviv ran America into the ground and the R.O.W. is tired of our destructiveness.
    When the R.O.W. demands gold settlement, the FED will come up empty. That will end the entire sovereign debt market.

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  • Danny B
    The big problem; employment

    Steve Keen disparages Thatcher for initiating a huge debt bubble. Armstrong praises Thatcher for standing up to the unions and closing unprofitable coal mines. So, who is correct?
    A purely corporatist view works towards efficiency. A humanist view works toward the greater good. A debt-currency and fractional reserve banking demand unending credit growth. That demands an increase in productivity, usually from an increase in population. At one time, Britain could increase it's markets by exporting to it's many overseas customers. That time has come to an end as the Industrial Revolution unfolds in the R.O.W.

    Many developed States have brought in lots of low-wage immigrants to depress local wages and attempt to remain globally competitive in manufacturing. Their efforts are, for the most part, brushed aside by China, India, Brazil, Viet Nam, Bangladesh, et al.
    The populace respond by cutting back their birth rate. In many instances, the State brings in even more immigrants to keep the population from shrinking.
    Every State is trying to export it's way to prosperity AND maintain domestic employment.
    As a result of ultra-low shipping costs and advanced telecommunications, ALL the jobs in value-added industries flow to just one provider. Germany has a lock on many sectors of the high-cost niches. china has a lock on many of the low-cost niches.

    So, while Thatcher may have had a good idea, she started a debt binge. The obvious thing to do when faced with a lot of unproductive workers would have been to just kill them. A corporation liquidates it's unproductive assets.
    BUT, the debt structure of the corporation demands growth. That demands growth in the number of customers. The obvious answer is to just kill off unproductive people and encourage productive people to have more children.
    There are more black babies aborted in NYC than are born. The acolytes of Margaret Sanger are hard at work in many places.

    While the corporatists would happily reduce their tax burden by killing off as many grifters as possible, the socialists are busy supporting as many as possible. Automation is RAPIDLY bring this problem into focus. As socialism crashes, man has to figure out some sort of solution for all the people who are surplus to the work force. The workplace has changed radically but, human nature has not.

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  • Danny B
    Michael Hudson, Steve Keen

    I needed a second post for Michael Hudson.
    "Steve Keen shows how ignoring debt the blind spot of neoliberal economics – basically the old neoclassical just-pretend view of the world. Its glib mathiness is a gloss for its unscientific “don’t worry about debt” message.
    Keen’s “Minsky” model traces this to what he has called “endogenous money creation,” that is, bank credit mainly to buyers of real estate, companies and other assets. The upper loop.
    Keen links financial dynamics to employment. If private debt grows faster than GDP, the debt/GDP ratio will rise. This stifles markets, and hence employment. Wages fall as a share of GDP.
    Add in falling employment due to automation AND falling wages.

    Paul Krugman (who plays the role of an intellectual Bambi to Keen’s Godzilla), who insists that banks do not create credit but merely recycle savings – as if they are savings banks. Banks do NOT loan out reserves or savings. The loans are created out of thin air. They insist on repeating this BS over and over for centuries.

    Keen explains why, mathematically, the Great Moderation leading up to the 2008 crash was not an anomaly, but is inherent in a basic principle: Economies can prolong the debt-financed boom and delay a crash simply by providing more and more credit, Australia-style.
    The effect is to make the ensuing crash worse, more long-lasting and more difficult to extricate. For this, he blames mainly Margaret Thatcher and Alan Greenspan as, in effect, bank lobbyists.

    His Figure 16 shows how stable UK private debt/GDP was for a century, until Margaret Thatcher deranged the economy. Debt soared, and mainstream economists applauded the boom.
    Privatization of Council Housing and basic infrastructure forced the population deeply into debt to afford their basic needs. The financial City of London ended up the big winners, while industry or labor have suffered a debt squeeze.
    Keen’s model shows that a long debt buildup can give the appearance of prosperity, until the crash comes.
    The problem is that the public is brainwashed to imagine that it is the banks that need saving, not the indebted economy.

    If this solution is not taken, debtors will continue to lumber on under debt and tax conditions where only about a third of their nominal wages are available to spend on the goods and services that labor produces. The circular flow between producers and consumers will shrink – being siphoned off by debt service and government taxes to bail out bankers instead of their victims.

    The Economics of the Future | by Michael Hudson | Defend Democracy Press
    Armstrong made it clear. The State is re-active, NOT pro-active. The crash will unfold and the State will try to pick up the pieces. After having lost all credibility, that will most likely be impossible. Our position as "destroyer of the world" will ensure that Pox Americana doesn't get any help or cooperation.
    "When the news turns to propaganda, it is one of the last things to take place in the historical sequence of how civilization falls. The mainstream media is the third horseman of economic Apocalypse "

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  • Danny B
    Chinese money bleeding into RE

    The monetary inflation in the upper loop bleeds over to the lower loop, especially when people do not trust their government. The Chinese are a perfect example.
    5/04 Wealthy feel pinch of housing costs as 1/4 Australians face mortgage stress – Guardian Chinese buyers
    5/04 Orange County condo prices hit record level – Dr. Housing Bubble Chinese buyers.
    The same is true of Vancouver and several other cities. Chinese money flows into big-ticket items that can be considered as a store-of-wealth.

    Iceland jailed bankers and straightened out their problems. now, their currency is doing fine.

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  • Danny B
    Kick back and get a GOV job

    The jews have always championed socialism. Historically, socialism has an abysmal record. The 2 Germanys, the 2 Koreas, the U.S.S.R.
    Fidel Castro came out a few years ago and said that Cuba's economic system just didn't work. Venezuela will prove the unworkableness of socialism,,, right to death.
    The Marxists claim that it IS workable if it is implemented worldwide. At present, capital flows to where it gets the best return. EVERYTHING outside of that one bright spot, starves. See Germany. So, along with a one-world currency, we would have to have a centralized world credit market. World GOV would issue credit to whatever undertaking was the "best".
    Theoretically, world GOV would preclude wars and the attendant waste.

    Marx proposed euthanasia of the rentier so that the State could take over all credit distribution.
    The war on cash is just one facet of the State trying to get control of everything.
    The War on Cash: Haldane Edition | The Cobden Centre
    So, were going to live in the perfect world where everybody is equal. Everybody will be paid equally,,,LOW. What happens to society when you pay everybody the same for unequal work?
    Access : Monkeys reject unequal pay : Nature

    SO, everybody lowers their productivity until it reaches the minimum. All you had to do was to compare West Berlin to East Berlin a few decades ago.
    The Hegelian Dialectic requires GOV to collect taxes and employ as many people as possible. This eventually grows until everybody is working for GOV. Saudi Arabia complains that all their GOV workers only show up for work for one hour a day and, have no work ethic.
    Both Hegel and Marx seemed to have no consideration for human nature.
    One-world GOV would bring one-world lethargy.

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  • aljhoa
    Originally posted by danny b View Post
    The end game for the dollar and america’s harvesting of foreign countries is therefore in sight, and it will likely end with a final dollar crisis. China could bring this about at a time of its own choosing, simply by introducing the planned oil futures yuan contract alongside the gold futures yuan contract. When liquid enough, oil producers will be able to sell oil for gold, effectively restoring the pre-1971 price relationships.
    But because china still owns large quantities of us treasuries and dollar reserves, for the moment she might prefer more time before executing the coup de grace.

    But execute it, she will. Her fundamental objective is to remove america’s ability to profit from having everything priced in dollars. Logically, that means getting oil and other key commodities referenced in gold, as they were before the nixon shock in 1971, with fiat currencies merely being the settlement media. America must be careful not to bring forth the date of her own demise by attacking north korea, syria, or iran.
    america?s financial war strategy | global research - centre for research on globalization

    every time that america is close to going bust, it lights off another war to cause capital flight.
    China could bring this

    Originally posted by danny b View Post

    china demands trump immediately
    stop thaad deployment to sk
    thaad system now deployed and operational in s korea
    kim warns 'us gangsters' pushing to brink of nuke war
    n korea's true crime - it's not dominated by the us !

    "in the year of 2000 there were seven countries without a rothschild owned central bank:

    north korea
    the only countries left in 2011 without a central bank owned by the rothschild family are:

    north korea

    after the instigated protests and riots in the arab countries the rothschild finally paved their way into establishing central banks, and getting rid of many leaders, which put them into more power.

    First attack will be on iran. We're getting softer with cuba and it won't be long before we impose a private central bank.

    North korea will be the final state standing up to the u.s."
    this should pretty much tell you what we are doing in north korea.

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  • Danny B
    Light up the world and,,, they send you all their money

    If investors believe that stocks are going to rise for another year, they deserve to get HAMMERED. The fools are too inward looking. If we have global capital flows and global wage arbitrage and global prices for commodities, they MUST look at the global picture. Here is an exceptional article. I will excerpt it but, you should read the whole thing. Remember the global view and do NOT overlook China. Pox American is loudly rattling sabers in their direction because Pox Americana can not do to China what it did to every other State that tried to ditch the dollar.

    "The People’s Liberation Army’s most influential strategist, Major-General Qiao Liang laid out his overall strategic philosophy
    Qiao’s principal thesis is that America uses the dollar to manage external trade and finance for its domestic benefit. Many of us are familiar with the proposition that by exporting dollars and dollar-denominated bank credit, America creates wealth for both the US government and the major American banks, and that the dollar’s reserve status is accordingly vital to the US economy.
    The U.S. avoided high inflation by letting the dollar circulate globally. It also needs to restrain the printing of dollars to avoid a dollar devaluation. Then what should it do when it runs out of dollars?

    The Americans came up with a solution: issuing debt to bring the dollar back to the U.S. The Americans started to play a game of printing money with one hand and borrowing money with the other hand.
    Since August 15, 1971, the U.S. has gradually stopped its real economy and moved into a virtual economy. It has become an “empty” economy state. Today’s U.S. Gross Domestic Product (GDP) has reached US$18 trillion, but only $5 trillion is from the real economy.
    The Asian Tiger phenomenon was created and destroyed, not by the countries themselves, but by the flood and ebb of dollar ownership and investment. Qiao notes that China escaped being caught up in this US-inspired operation. Again, dollars flowed back into US assets, this time fuelling the tech boom,

    Qiao goes so far to state that the most important event in the twentieth century was not the two world wars, but America’s abandonment of the gold standard in 1971.
    He claims the break-up of Yugoslavia was to undermine the status of the new euro. The euro lost 30% of its value from that time and was damaged as a settlement option for global trade. As Qiao goes on to say,

    “after the first cruise missiles exploded in Kabul, the Dow Jones index jumped up 600 points in one day”.
    If we acknowledge that there is a U.S. dollar index cycle and the Americans use this cycle to harvest from other countries, then we can conclude that it was time for the Americans to harvest China. Why? Because China had obtained the largest amount of investment from the world.
    However, China has protected herself from America’s financial attacks through its national ownership of the banks and by capital controls. Consequently, only foreigners can sell yuan to buy dollars, or withdraw dollars from their own operations to invest in Treasuries. Therefore, the damage was always going to be limited.
    Trump’s threats to escalate a regional war over North Korea and/or Syria/Iran takes on a wholly different light.
    By threatening North Korea, dollar investment is likely to flow out of trade and investment in South Korea and Japan, back to US Treasuries.

    Unknown to the public, America has already failed in its financial war against China, and needs new victims, which is why the attention has switched to the Korean peninsula as well as the Middle East. Trump now realises the only way his presidency can prosper is to encourage capital flight into America from abroad, and have the debt limit raised to accommodate it.
    China is thinking ahead, and has its own unique understanding of how America manages its financial empire for the benefit of its domestic economy, at the expense of everyone else. China has protected herself, and attempts by America to undermine China’s economy have already failed. Attention is now focused elsewhere.
    The current attempt to pump-and-dump the economies of Japan and South Korea by escalating tension over North Korea, as well as countries with dollar balances in the Middle East by escalating Syria, Northern Iraq and Iran, will likely be the last such attempt.

    The end game for the dollar and America’s harvesting of foreign countries is therefore in sight, and it will likely end with a final dollar crisis. China could bring this about at a time of its own choosing, simply by introducing the planned oil futures yuan contract alongside the gold futures yuan contract. When liquid enough, oil producers will be able to sell oil for gold, effectively restoring the pre-1971 price relationships.
    But because China still owns large quantities of US Treasuries and dollar reserves, for the moment she might prefer more time before executing the coup de grace.

    But execute it, she will. Her fundamental objective is to remove America’s ability to profit from having everything priced in dollars. Logically, that means getting oil and other key commodities referenced in gold, as they were before the Nixon shock in 1971, with fiat currencies merely being the settlement media. America must be careful not to bring forth the date of her own demise by attacking North Korea, Syria, or Iran.
    America?s Financial War Strategy | Global Research - Centre for Research on Globalization

    Every time that America is close to going bust, it lights off another war to cause capital flight.

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  • Danny B
    The Dems need a LOT of money

    FED GOV is paralysed, for the most part. They have voted for a continuing resolution to keep GOV temporarily financed. In a general sense, the DEMs have the most to lose in a budget shutdown. Chicago needs about $ 100 million in FED GOV money every week to keep rolling along. So, who would be most affected by a shutdown?
    Baltimore is in crisis because of the murder rate. They pleaded to the FBI for help because they can't afford to pay overtime to their police. The FBI said that they would send a forensic van to more quickly identify firearms used in crimes.
    Feds Send In Reinforcements After Baltimore Mayor Pleads For Help: "Murder Is Out Of Control" | Zero Hedge
    There is a looming threat that Baltimore could take the record for murders away from Chicago,,,, another democrat run town.
    America is quite bummed out and 9.5% of the people need a shrink.
    The United States Of Distressed America - Vocativ

    GOV debt is rising and fingers are pointing at various groups who use GOV services.
    Fiscal Impact of Whites, Blacks and Hispanics – The Alternative Hypothesis

    "By some measures, stocks have only been this expensive twice in the past 140 years, as MarketWatch notes.
    In 1929… and 2000.
    On the significance of these dates, we append no comment.

    Yet earnings per share of the S&P 500 have been virtually flat for the past three years… even though prices have risen some 30%.
    It calls to mind a bidding war on a racehorse that hasn’t placed in three years.
    And as reported in MarketWatch, investor surveys conducted by Yale economist Robert Shiller reveal more than 90% of investors expect prices to rise another year.
    That number approaches 100% among institutional investors." I thought that they were the "smart money".
    Last edited by Danny B; 05-04-2017, 04:16 AM. Reason: sbelling

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  • Danny B
    Living in a perfect world without corrections,,,, yet

    "Government only responds to events – they do not prevent them.
    There is absolutely nobody who can save the markets or economy in the middle of a crash – NOBODY! Why? Because these type of events are global contagions.
    I wrote to Robert Rubin warning about his jawboning the dollar would create the same crisis as the 1987 Crash. Tim Geithner quickly responded saying they weren’t doing that. The 1997 Currency Crash came within weeks.

    Sorry, I do not believe anyone can prevent anything or save the economy in the middle of crash. Governments are just reactionary and never pro-active."

    Side note, Trump - US 'Needs A Good Shutdown In September To Fix This Mess' Is it just me or, does this sound risky?
    Soros plans to destroy the Polish government by 2020.

    "Failing to increase the money supply meant that the value of money in purchasing power rises and all assets decline. This is the hallmark of EVERY recession or depression. "
    "This was the birth of “Elastic Money” that makes sense. This prevents wholesale liquidation of assets to get cash in short supply. The problem is neither the Fed nor the concept of Elastic Money. The Fed was originally established in 1913 to act like the New York Clearing House but for all assets outside of Wall Street."
    "Hence, today we have Quantitative Easing when central banks buy government paper attempting to stimulate as they tried and failed every time previously."
    "We need a central bank and elastic money is an excellent tool. However, I would issue it in a two-tier manner. The normal tier is money commonly used. The second is the elastic money, but this automatically should expire in 6 years. "

    While Armstrong makes several good arguments for a central bank, he ignores the many failings due to human nature. He throws ALL the blame on the legislature for expanding the money supply. In the late '30s there was NO credit to be found. As soon as we declared war, there was credit flowing everywhere.

    276,000 aircraft manufactured in the US .
    43,000 planes lost overseas, including 23,000 in combat.
    14,000 lost in the continental U.S.
    From Germany 's invasion of Poland Sept. 1, 1939 until Japan 's surrender on Sept. 2, 1945 = 2,433 days.
    America lost an average of 170 planes a day.

    A B-17 carried 2,500 gallons of high octane fuel and carried a crew of 10 airmen.

    9.7 billion gallons of gasoline consumed.
    108 million hours flown.
    460 thousand million rounds of aircraft ammo fired overseas.
    7.9 million bombs dropped overseas.
    2.3 million combat flights.
    299,230 aircraft used.
    808,471 aircraft engines used.
    799,972 propellers.

    The original charter of the FED allowed overnight lending for good collateral ONLY. A good idea. Elastic money was used to support the value of assets that weren't supported by economic fundamentals. This brought continuous price inflation,,, supporting enterprises that couldn't survive in a free market.

    “For all of history - prior to 1955 - there was roughly equal probability of inflation or deflation in any given year,” said the economic historian.

    “But since 1955 we’ve experienced uninterrupted annual inflation. It’s a stunning fact, unprecedented. To an economist in 1955, the coming 60yr inflation would have appeared less probable than a catastrophic meteor impact.”
    So, how did we escape all those down days?
    WE printed our pants off. Having the reserve currency pretty much precluded high inflation.
    Hedge Fund CIO: What Central Banks Have Done Is "Stunning, Unprecedented" | Zero Hedge
    Everybody jumped on the good-times bus because, even though it faltered, it kept on chugging. Nobody wanted to miss out on all that free money. But, as assets start to roll over, in spite of all the pumping, fear is starting to enter the market.

    Kunstler, "The situation across Western Civilization is as follows: virtually every major financial institution has become a check-kiting operation or a Ponzi scheme, and we’ve reached the point where they can only pretend to be rescued."
    "Nobel Prize winning economists (3) at a Connecticut hedge fund called Long Term Capital Management found out the hard way that their “secret sauce” investment formula which “could not fail in the life of this universe or several like it,” fatally poisoned its balance sheet on a repast of Russian sovereign bonds after only about eighteen months"
    "it took all the poobahs of American banking to paper over the firm’s death about five minutes before the global banking system would shut down via the greatest daisy chain of cross-collateralized financial booby-traps ever assembled." They've only gotten more numerous and risky.****-nati...wing-flapping/

    5/02 Rise of robots will be a permanent deflationary force – Zero Hedge No kidding. Who would have thought that?
    5/02 Venezuela’s president orders 60% hike of minimum wage – Fox News Desperate time call for stupid measures. Maduro controlled the price of bread AND, the bakers went out of business.
    5/02 Will Trump ‘do a big number’ on the big banks? – NY Times Will the big banks do a number on Trump?

    "Ron Paul: Fed actions will soon cause a long-overdue correction" NO MENTION of the funding bills from the House.

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  • Danny B
    Collapse + war.... collapse and no war

    5/01 US manufacturing expanded less than expected in April – Bloomberg
    5/01 US consumer spending stalled in March – Bloomberg
    5/01 U.S. small business borrowing stalls in March – Reuters
    5/01 40% of Americans spend up to half of their income servicing debt – MarketWatch

    OK, so the consumer is tapped out in spite of maxing out her credit cards. The debt bubble has to grow but, the consumer can't do it. Banks have cut back on credit and the unwinding has begun. The speed of unwinding and default is picking up. How much time do we have before the banks fail / close?

    The Wolfowitz doctrine never went away. World domination is still the objective.
    US forces preparing sudden nuclear strike on Russia - Moscow Security Conference - Fort Russ
    NO, these aren't attack pages. They are inconvenient truths.

    Post WW II, Pax Americana morphed into Pox Americana. We used the credit card of the reserve currency to build 850? bases around the world. The U.S.S.R. didn't have a credit card so, it went broke. We promised to NOT expand NATO Eastward. We lied.
    Russia has NO sovereign debt. Their stock market is one of the best in the world. They have 11 time zones of natural resources and this makes them a target.
    Post WW II, America got a new master,

    They are trying to bring us socialism just like they brought to Russia so many years ago. They have a strong hold on Europe.

    They have brought a long, slow degradation to America. Our upcoming collapse will bring a paralysis. The CIA director has just rushed off to South Korea. Will the war agenda be sped up to kick off before the looming economic collapse? Will the R.O.W. speed up our collapse to abort WW III?
    These aren't just academic questions. If the R.O.W. sees nuclear winter and radiation poisoning in the near future, they will forget their differences and band together for survival.

    Will the collapse prevent a later war? How much of the domestic economy will the neocons be willing to sacrifice?
    Putin once told netanyahooo that he could make israel a sheet of glass in 24 hours. Are the neocons stupid enough?
    Is the military running the show. A few years ago, the U.S. military tried to assassinate the Chinese premier with the "Rods of GOD. I doubt that obummer would have approved such an action.
    BOMBSHELL: China and America already at war: Tianjin explosion carried out by Pentagon space weapon in retaliation for Yuan currency devaluation... Military helicopters now patrolling Beijing -

    The Chinese are in a suicidal credit binge. Is that accidental?
    Is the economic collapse being held off by bankers who feel that war is more important? if the economy collapses, will war still be initiated?

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  • Danny B
    Society,,, losing the narrative

    The boneheads in GOV seem to think that a cashless society couldn't execute a bank run.
    "According to HCG's latest press release this morning, the "less than prime" Canadian mortgage lender held HISA deposits of only $391 million as of Monday, May 1; this is down C$130 million from Friday, or a reduction in the total amount by 25%. It is also down 72% from the C$1.4 billion reported one week ago."
    The Ontario Pension Plan is going to cough up a couple of $billion to save them.
    "the company has another C$12.8 billion in Guaranteed Investment Certificate deposits, or GICS. As these 30- and 60-day deposits come due in the coming weeks, depleting HCG's already tapped out liquidity, and forcing even more emergency loans. "
    "Jim Hall, the CIO of Mawer Investment Management, formerly one of the biggest investors at HCG, said he is "recalculating the odds of a contagion widening across the Canadian financial system."
    5/01 Chilling thing insiders said about Canada’s house price bubble – Wolf Street

    “The probability has gone from infinitesimal to possible - unlikely, but possible. If depositors or bondholders start to lose faith in their banks, well then that becomes systemic.”
    Ah yes, the confidence factor.
    This Is What A Bank Run Looks Like: Home Capital Loses 70% Of Deposits In One Week | Zero Hedge

    It is said that "idle hands are the devil's tools." Some States in Europe have a 50% unemployment rate. They can't live on their own and they can't start a family. They are definitely pissed off about this.
    5/01 Economic reality: bottom 50% of Americans no longer matter – SafeHaven
    "And as for "low delinquencies", I remind you of my April 26 article Subprime Credit Card Losses Bite Capital One: Income Down 20%, Charge-Offs Up 30%."
    "Previously, the bottom third did not matter. Then the bottom 40% did not matter. Now the bottom 50% do not matter."
    Economic Reality: Bottom 50% of Americans No Longer Matter | Mike Shedlock |
    They don't matter until they pick up a Molotov cocktail.
    The lefties in academia see that they have no prospects in the labor market. Their solution is to spread violence.
    The muslim immigrants are unruly and violent because they have no stake in society. What happens when the native born feel that they have no stake in society?

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  • Danny B
    The ongoing crashes of collectivism

    We probably have a one week funding extension. Congressional leaders reach deal to fund government through fall, senior aide tells NBC
    The grand fallacy of the eurozone, "German output is exceeding even pre-crisis peaks"
    " Italy has not grown for almost two decades now. "
    Italy situation is bigger elephant in room than French and German elections: UBS chairman
    The obvious solution to no growth,,,, raise taxes.
    The State sees just one solution to it's problems; steal more money.

    The United Nations ranks Rhodesia 1st worldwide in food produce. 1975
    That was then. This is now, Zimbabwe pleads for $1.5bn in food aid to prevent mass starvation
    Zim imports 80% of their food. The Marxists seem to be the absolute worst at running an economy.

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