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  • Danny B
    Robbed by finance,,, capital flight,,, OTHER indicators

    The CBs created about $250 trillion of new debt money. The plan was for this money to seep into all markets and raise up everything. But, with mountains of new money, how could money command an interest cost? Money renters are faced with loaning out their money for 100 years at 1 %.
    "Why would anyone in their right mind buy a 100-year bond for 1%? The buyers appear to be pension funds who MUST own government debt as a matter of law."
    "There is a serious problem brewing where as a matter of law pension fund must buy government paper and at low rates, the pension funds face massive failures going into the next 6 years."

    Armstrong, (Germany and Italy are both crashing) and "YEP, Turkey has a very bad smell under it… Some European banks exposure to Turkey is going to result in them getting their arses kicked. Just add in ECB stupid policy to help the problem… How that ex G Sachs person was named ECB head and there isn’t/hasn’t been a revolve from European banks towards HIM I’LL NEVER KNOW… THEY are asleep at the wheel over there in Euroland MA (and not just in Europe I might add.. try Australia also), Europeans sending billions to US of A only goes to show some investors know the game is up in Europe ..and now lies eco ruins and perhaps WAR."
    The take away is; the stupider the government is, the more capital flight to other jurisdictions like America and Russia. The more capital flight, the more QE is needed to keep things going.

    The Daily Reckoning has good, informative articles that are easy to read and understand.
    You should read the whole article.
    "Since 1990, they conclude…

    The financial sector has drained as much as $22 trillion from the United States economy:

    What has this flawed financial system cost the U.S. economy?… We estimate these costs by analyzing three components: (1) rents, or excess profits; (2) misallocation costs, or the price of diverting resources away from nonfinancial activities and (3) crisis costs, meaning the cost of the 2008 financial crisis. Adding these together, we estimate that the financial system will impose an excess cost of as much as $22.7 trillion between 1990 and 2023, making finance in its current form a net drag on the American economy."

    “Given the finite ability to service debt outstanding… future economic growth, if we are to have it, will need to be based largely on gains in productivity.”
    Ten percent of GDP in 1970, the finance industry grew to 20% of GDP by 2010… like weeds in an abandoned factory.
    And like spreading weeds, finance choked the path of labor…
    The bottom 90% of American earners advanced steadily from the early 1940s through the early 1970s."

    THEN we left the gold standard and, finance was able to create almost unlimited debt. This new debt money was channelled to money renters who were able to front-run everything we buy. Finance didn't so much choke off labor. Finance choked off purchasing power.

    "A liberated Federal Reserve finally broke loose from its golden shackles… spread its nets… and ensnared the nation in debt.

    Michael Lebowitz of Real Investment Advice:

    The stagnation of productivity growth started in the early 1970s. To be precise it was the result, in part, of the removal of the gold standard and the resulting freedom the Fed was granted to foster more debt… Over the last 30 years the economy has relied more upon debt growth and less on productivity to generate economic activity."
    Keep in mind that most of the gains in productivity were the result of automation. Productivity has grown quite a lot but, this didn't do anything for wages. With falling / static wages combined with price inflation, consumption would be expected to fall. This was forestalled by increasing credit. Hence, the growth in the finance industry. We have reached credit saturation and, there is no growth on the horizon. FED GOV takes over consumption to make up the difference. Now, FED GOV is debt saturated.

    Hussman Funds famously crashed because they were looking at fundamentals that have been reliable indicators over history. The world has never had endless mountains of debt money and; as it turned out, this was a game changer.
    "Because of their reliability across history, we prioritized those syndromes following our 2009-2010 stress-testing exercise against Depression-era data. In hindsight, amid the novelty of quantitative easing and zero-interest rate policy, our pre-emptive bearish response to those “overvalued, overbought, overbullish” syndromes turned out to be detrimental. No incremental adaptation was enough until I threw my hands up in late-2017 and completely abandoned the notion that it was still possible to define any “limit” to speculation.

    Since then, our requirement has been straightforward: Regardless of how extreme valuations or other conditions might become, we will defer adopting or amplifying a “bearish” investment outlook unless our measures of internals have explicitly deteriorated"
    Hussman has a set of internals that do a much better job of predictions in the debt-money enviornment.

    6/28 Albert Edwards: This was the final recessionary shoe, and it has now fallen – ZH
    6/28 Tulsi Gabbard wrecks Dems with powerful anti-war debate answers – Reason

    There is speculation that the Chinese Yuan could displace the U.S. dollar. Not going to happen any time soon. Capital flight is eating them up.

    Bitcoin Is All About Chinese Capital Flight - Forbes
    Trade war triggers capital flight - South China Morning Post
    China's Capital Outflows Are Suddenly Soaring Again... And Why This ...
    Quiet capital flight dents China's sway as $1.2tn 'disappears' - Nikkei .
    China constricts capital outflows with eye on yuan stability - Reuters

    China is trying to conquer 'The Impossible Trinity': an economic puzzle no-one has ever solved
    NOBODY can legislate stability and confidence. China is cracking down on Hong Kong. That, by itself will reduce confidence and, there is a lot fo money in Hong Kong.
    So, while stock market fundamentals have deteriorated greatly in American markets, there are other important markers that are very important.
    "unless our measures of internals have explicitly deteriorated"
    The Euro crashes, capital flees.
    The Yuan thrashes, capital flees.

    Leave a comment:

  • Danny B
    BTC,,,, more recession warnings

    The Swiss plan to pull the plug on their financial treaties with the EU.
    Britain has been trying to do the same.
    6/27 Boris Johnson: odds of no-deal Brexit are ‘a million-to-one against’ – Guardian
    We all know that bitcoin is better than gold. It goes up faster.
    6/27 Bitcoin has quadrupled in value in six months – Mashable
    6/27 Bitcoin meets gravity – Seven Figure Publishing

    The SDR didn't fly because nobody wanted that garbage. They are trying a different angle of attack.
    100% of the experts say that the economy is doing well. The working people,,,, not so good.

    Here is one takeaway from the debates.
    Tulsi Gabbard is campaigning against more wars.
    Treasonous Trump;
    Trump Rejected Attacking Iran 'We Don't Need Any More Wars'
    6/27 Facebook to unmask ‘hate speech’ suspects in France – Zero Hedge
    Just for the record, I hate facebook.
    6/27 Bob Pisani: earnings this year may end up flat and that’s a problem – CNBC
    Yep, might as well buy gold.
    6/27 Global carmageddon continues: Ford set to slash 12,000 jobs across Europe – ZH
    6/27 Goldman warns risk of market crash is highest since the financial crisis – ZH

    How very strange. Consumption is falling even though the stock market is at all-time highs.
    They got 40 times the normal amount of snow in Colorado. Some of it seems to have made it's way to London.

    Leave a comment:

  • Danny B
    Web 3.0,,, emerging cryptos,,, CB control of cryptos

    As more and more payment is made electronically, we slide ever-closer to a cashless society. The banks want a cashless society so that ALL wealth is stored with them. The State wants a cashless society so that all transactions can be audited by them.
    Armstrong has a report sector just on the State's hunt for taxes.
    This cashless society would / will need some kind of baseline token of exchange value. The bankers and the State are fighting any connection with gold. They want some sort of crypto. The banks originate most of the debt-denominated "wealth" and, they want to keep it that way. ALL new money is first run through their greedy fingers.
    The emerging crypto systems are created to maintain private / sovereign bank control of wealth exchange with the bankers still taking a big cut.
    Here is a must-read article from Ellen Brown where she clearly explains how the banks plan to maintain their parasitism on all transactions. She also explains how payment systems in China do NOT involve this parasitism.

    "According to Ivanov, who has been labeled by some as a Russian ‘cryptobillionaire,’ we are currently at the stage of developing a new generation of internet.

    “We are already engaged in Web 3.0 technologies. They combine different blockchain-based technologies. This revolution is taking place rather slowly, but it is already beginning, and we want to stake this niche in Russia,” he said."

    Milton Friedman talks about how the world economy works without government.

    6/27 Bitcoin has quadrupled in value in six months – Mashable
    BTC is good for speculation for some people but, it just lacks stability.
    Charles Hugh Smith writes Local Government Is an Engine of Inflation
    The blob State generally expands without limit. It taxes and taxes.
    "Since personnel costs are 70+% of city and county budgets, those ever-increasing payroll, pension and benefits costs are the key driver of budgets expanding."
    While Smith looks at government as an engine of inflation, this is the wrong way to look at things. The more money that the blob state sucks out of the producing economy, the more that it causes deflation of the rest of the economy. California is now owed more than $10 billion in unpaid fines. People just don't have the money to satisfy the demands of the blob State.
    6/27 As Democrats push a “wealth tax,” here’s why other countries got rid of it – Mises
    6/27 New software glitch found on 737 Max that results in “uncontrollable nosedives” – ZH

    That's what happens when you cut corners. I have a friend who was head of R&D at Rockwell. Rockwell clearly told NASA NOT to launch if it was too cold. On launch day, it was too cold. The NASA people said "we need to take off our engineering hats and, put on our public relations hats". So, the shuttle blew up.
    6/27 Colorado’s snowpack is 40 times normal after rare summer solstice dump – Stamford
    A good, warm rain will fix that.

    Leave a comment:

  • Danny B
    Create more debt because, nobody has a better plan

    Where to start? There is a lot of news that affects the economy.
    The CBs have created megatons of "money' but, still expect this "money" to retain it's previous value.
    The vast majority of this "Money" is denominated as DEBT.
    How much debt? $184 trillion. Your share is $86,000 Even if you live on an aborigine reserve south of Darwin, you still owe $86k
    Interest rates reflect the value / demand for money. Supply is gargantuan and, interest rates are falling.
    "Citing a report from the Bank for International Settlements, which found that 12% of publicly listed companies around the world can be described as zombie firms (meaning they don’t earn sufficient profits with which to cover their interest payments), Sharma concluded that simple policy miscalculations are on display:"
    These are not policy miscalculations. This is a calculated attempt to maintain employment.
    Along with employment, we have energy problems. Fracking has lost $208 billion. The FED is pumping it up by proxy.

    QE is an attempt to float businesses that employ people. It is soon to be institutionalized as MMT and UBI.
    Janet Yellen has now warned about excess debt.
    Saudi Arabia's business model may guide the future bankers.
    Everybody knows that Germany is the powerhouse pulling along the Eurozone. No more.
    Everybody knows that gold is just a pet rock. Italy plans to pay off debts with mini-bots. The ECB plans to take Italy's gold.

    The Chinese are manufacturing millions of Carats of gem quality diamonds.
    The gold ETFs trade 50% of world supply every day. They claim that physical gold is an old anachronism.
    Paul Craig Roberts shows exactly where we are economically.

    6/27 Something’s wrong with this rally in the stock market, JP Morgan says – CNBC
    6/27 UBS: world economy ‘one step away from global recession’ – Yahoo!
    6/27 A leveraged-lending bust could hit economy quicker than subprime blowup – MW
    6/26 Apple doubles down on buybacks, spending a record $23.8 billion in Q1 – Axios
    6/26 A group of five stocks are so big they’re essentially the stock market – CNBC

    There is good reason to believe that the unwinding will hit VERY fast.
    6/26 Time for an international gold reset – Deviant Investor
    The State and the bankers want unlimited power to do unlimited money / debt expansion. They don't nee no stinkin gold reset.

    6/26 Trump says Twitter, other tech giants are ‘all Democrats’ and censor him – CNBC
    6/26 Special Counsel Mueller to testify before House on Trump Russia probe – CNBC
    6/26 MSM silent after Google election meddling bombshell – Zero Hedge

    6/26 More than 500 arrested after protests as India water crisis worsens – CNN
    Water is going to be big news for many decades to come.

    Video: 200 Israeli Nuclear Weapons Targeted against Iran - Global ...
    Jun 19, 2019 - Video: 200 Israeli Nuclear Weapons Targeted against Iran ..
    President Donald Trump on Tuesday suggested that the US is "not going to need an exit strategy" if war broke out with Iran.
    That is very true. All the oil shipping points would be closed. Much of Iran and Saudi would be in flames. Insurance companies would refuse to insure cargoes. Hezbollah and the IRGC would overrun israel. Nuclear winter would add to the already present global cooling.

    Leave a comment:

  • Danny B
    In spite of TINA, confidence is slipping

    Ludwig von Mises said that all credit bubble eventually collapse. FED GOV has produced enormous bubbles ever since it escaped the restriction of gold. GOV must pay for all it's toadies, it's 22 million employees,,, it's wars and, it's welfare dependents. The Japanese model seems to indicate that it can just print new money to pay for everything.
    At $21 Trillion, The National Debt Is Growing 36% Faster Than The US Economy. March, 2018
    Since Pox Americana has no intention of ever repaying this debt, the debt-service cost is what matters. The original idea was; since the CBs passed out all the free money, money renters only worried about interest income and NOT, repayment. This free money meant that banks no longer had to pay interest on deposits nor attract capital. Free money to them and, 22% credit card interest to you.
    Just how long could this arrangement be maintained?

    Negative interest on bonds ($13 trillion worth) should be good for stocks. here is a good article showing that this just hasn't happened.
    Stocks are pumped up by the CBs and, nobody is attracted to them.
    Banks, transports and small caps are below their 200 day moving average.
    While everybody is pushed to keep their money in the markets, NIRP and falling dividends is a big negative. The CBs are counting on TINA, there is no alternative.

    Armstrong, "ANSWER: Nothing. What is happening is that we are running into reality. The entire Quantitative Easing has completely failed. The focus on interest rates has been lost insofar as we are dealing with a major question of a structural crisis."
    So, just how bad will the collision with reality be?

    More reality;
    US shale an 'unmitigated disaster' with industry hundreds of billions in debt - shale pioneer

    $9 trillion corporate debt bomb is 'bubbling' in the US economy Nov, 2018
    Gundlach: Corporate Bonds Could Be a Repeat of the Sub-Prime Crisis It is expected that corporate debt will blow this time around.
    Keep in mind that most of the recent rally has been in JUNK corporate debt.
    6/26 Trouble at the Bakken: oil production finally peaking? – SRSrocco Report
    Profits peaked about 8 years ago.
    /26 It’s 2007 all over again: JPM is pushing synthetic CDOs to the masses – ZH
    Those aren't masses, they're muppets.
    6/26 Trickle down theory: Powell chastises Trump, praises himself – Mish
    It's price inflation that is trickling down, NOT wage inflation.

    6/25 “We’re nearing the moment when everyone tries to exit the bond market” – ZH
    To WHERE? stocks are more than 2 times overbought.
    6/25 Leonid Bershidsky: Putin’s big bet on gold is paying off – GATA

    The price of gold does go up an down a bit. Most of the change in price is just a change in the value of the currency that is used to buy the gold. Gold doesn't go up. It's just the currency going down.
    6/26 Big tech, big banks push for “cashless society” – FX Street
    6/26 MSM silent after Google election meddling bombshell – ZH

    That will definitely bite them in the A$$.

    God messed up and, failed to make all people equal. The libtards are trying to correct this oversight.

    MSM has far too much power over the public. It is going to get even more ,concentrated.

    Leave a comment:

  • Danny B
    Can we escape Armstrong's long running precistions?

    To Repeat, Armstrong's program, Socrates has 5000 years of price data. For the cost of wheat, it only goes back to 1215. You get the idea. The database is very comprehensive. He is calling for a collapse in public sector debt. He is calling for a collapse in debt markets. He is calling for a shift in confidence from public to private debt. 22 million people work directly for GOV. MANY millions more work in private sectors that contract with GOV. How will a collapse in Sovereign debt fail to cause a huge collapse in sectors that depend on State spending?

    Armstrong also reports that investors will lose confidence in State debt and, abandon it. Look at Japan. The BOJ already owns more than half of all electronically traded funds. Does confidence really matter if the Central Bank owns everything and, doesn't have to depend on investors? That may very well be the plan for the State. Buy up everything now and, abandon the (collapsing) debt markets. That may very well BE the plan. How will the reality play out? Keep in mind that Socrates has been amazingly accurate.

    Armstrong, "In Its Just Time, I wrote: “While the clear high in the political state of the United States took place in 1999, the economic high came precisely to the day on February 27th, 2007. “

    The flip in this relationship is still on target. Nothing requires any change to that forecast I delivered back in 1997. This is all being driven by the Sovereign Debt Crisis."
    So, while it might be interesting to argue with Armstrong's forecasts, you would have to ignore an extremely good track history.

    More from Armstrong,
    "ANSWER: A lot of people I knew in the various banks back in the 1990s have left before the cards start to fall. I remember well. They were at Morgan Stanley back then and the two were polar opposites on their forecasts if I remember correctly. Barton Biggs argued that the world would be flooded by a glut of cheap Asian labor and Steve Roach was pointing to the Philips Curve warning that public deficits in the west would lead to a massive inflationary bonfire.

    The Stock-Bond Correlation was the real debate. Our model was warning that stocks and bonds would indeed behave very differently which has materialized. Since 1998, stock prices and bond prices have been negatively correlated. In other words, when stock prices go up, bond prices go down and vice versa. Overall, stocks and bonds are indeed currently acting in opposition to each other on the macro-trend level. There has been a negative correction which some call the “flight to quality” when confidence collapses in the private sector, capital fled to the public sector. The broader 250-year relationship would argue that this is highly unusual. It is true that stocks and bonds moved up and down together throughout the 250 years prior to the 21st century.

    The reason I delivered that forecast back then was the realization that government debt had entered a perpetual borrowing cycle ever since World War II. Moreover, the 224-year cycle of political change was due in 1999. That meant the political peak in government would take place at that time. The economic peak would by 2007. Both of those forecasts have been absolutely correct. Politics has declined steadily and ever since the 2007-2009 crash, interest rates have dropped sharply and there has been a contraction in inflation with a decline in economic growth."

    Armstrong on universal basic income.

    The idea of some Universal Basic Income has been around for a long time. Here is Milton Friedman on his proposal of a Negative Income Tax. There will always be welfare for there are people who cannot work for some disability and others who prefer not to work and game the system. Even programs where the state directly pays for the food rather than food stamps or restricts the food stamps to certain products, the ingenuity of some people cannot be underestimated. They will sell the products they get for cash.
    NO MENTION at all of millions of people who no longer have a job niche.

    Armstrong is calling for a LOT of future price inflation. I suppose that all that monetary inflation to save the money renters will bleed over even faster into the lower loop. "They" are calling for big price increases. The many millions of people in the lower loop who do not have investments in the bloated markets are experiencing a fall in purchasing power. Yes, I have no doubt that we will have increasing price inflation. This will cause a corresponding fall in consumption.
    Coin wars
    6/25 Ethereum co-founder slams Facebook’s libra token for centralization – ZH
    6/24 Facebook’s libra cryptocurrency ‘poses risks to global banking’ – Guardian
    6/25 Gold’s massive rally rooted in ‘massive dent in confidence of the Fed’ – Kitco
    6/25 Despite surplus claims, CA can’t fund pensions – Epoch Times

    Leave a comment:

  • Danny B
    Replacement immigration

    Is 'welfare' the highest paying entry-level job in 35 states? Read the ...

    Sep 16, 2015 - “Welfare is Highest-Paying Entry Level Job in All but Fifteen States” ... In 35 states, welfare paid more than a minimum wage job, even after ...

    Replacement Migration - Census Shows Texas Adding 9 New Hispanics For Every White Resident
    Expert - It's 'Only Matter of Time Before Illegal Alien Voting Is Expanded'
    American Citizens Now Face Up To $500 'SpeedingTickets' For Riding BICYCLES Over 15 MPH
    From the looney file;
    6/24 Google using AI to meddle in 2020 election, prevent ‘next Trump situation’ – ZH
    6/24 Elizabeth Warren wants reparations for same-sex couples – Daily Caller

    So, what happens to the many millions of people, including immigrants, when GOV debt collapses?

    Leave a comment:

  • Danny B
    Price inflation,,, central planners,,,neofeudalism

    The CPI chart on the home page reflects our estimate of inflation for today as if it were calculated the same way it was in 1990. The CPI on the Alternate Data Series tab here reflects the CPI as if it were calculated using the methodologies in place in 1980. In general terms, methodological shifts in government reporting have depressed reported inflation, moving the concept of the CPI away from being a measure of the cost of living needed to maintain a constant standard of living. "
    Remember that Shadowstats still uses GOV imputs. Price inflation recently has been running at about 6%.... using the old methodology. A 6% interest rate nowdays is practically unheard of.
    All the money renters who are collecting less than 6% are losing. with $13 trillion in NIRP, a lot of people are losing a lot of money.

    Sven Henrich, "It's amazing what one can do in 10 years with $4T in QE, $6T in corporate debt/buybacks, $12T in new government debt and the weakest rate hike cycle in history, off of zero bound no less.
    By all means let's celebrate this accomplishment of free market economic"
    The article is worth reading. Sven is loudly complaining about all the money pumped into the upper loop.
    Sven fails to project what would happen to employment if all those zombies were allowed to fail. Suppose that all the military were brought home. Suppose that the defense industry were pared back to only what we need for domestic security. Suppose that we closed all the military bases.
    Sven fails to look at the entire situation.

    "These central planners – though they may not know it – are facing a no-win situation. They’ve extrapolated the past and are attempting to preserve the status quo into the future. Yet their efforts to perpetuate the upward growth curve of their countries and unions are useless against the relentless turn of history.

    The political, financial, economic, and social foundations that have been in place over the last 75 years – and perhaps, over the last 220 years – are breaking down. And no policy directive, no interest rate adjustment, no trade tariff, no five year plan, no extraordinary measures, no green new deal, and no technocratic prevarication is going to stop it. Big Government doesn’t stand a chance."

    "Still, the central planners are doing anything and everything to resist the downside. They’re taking emergency actions. They’re employing extreme currency debasement. They’re slapping price controls across the economic landscape. They’re starting wars. They’re harnessing populism. They’re doing all of these – and more…

    They’re also slipping and sliding and falling and flailing. Indeed, this is an epic folly for the ages. With this as context, what follows are several of this week’s choice proceedings…"
    "European Central Bank President Mario “whatever it takes” Draghi reaffirmed his commitment to currency debasement. His objective is to, somehow, provide perpetual stimulus to the Eurozone economy. Much like Elizabeth Warren’s Economic Patriotism plan, Draghi aims to boost exports via the destruction of money."
    " The yield on the German 10-year bund dropped to a record negative 32 basis points. What’s more, the yield on the 10-year French OAT briefly slipped into negative territory for the first time in recorded history. But that’s not all…"
    Everybody is trying to print their way out of the problems of AUTOMATION.

    There are just too many things that have changed for the status quo to continue to work as before. The Council on Foreign Relations has this to say:
    "Facebook Announces Plans for New Digital Currency: Facebook unveiled plans for new global cryptocurrency Libra, set to launch in 2020. Utilizing a “secure, scalable, and reliable blockchain,” Libra will be backed in multiple currencies and U.S. Treasuries, preventing drastic fluctuations in its value unlike well-known cryptocurrency Bitcoin. The currency will be governed by the Libra Association, an independent, non-profit membership organization including companies such as Mastercard, PayPal, Uber, and Spotify. Users will acquire the cryptocurrency through Facebook subsidiary Calibra upon presenting government identification, "
    Keep in mind that Armstrong said that all sovereign debt

    (Treasury) will blow up. "Backed by multiple currencies" The printing presses are soon to be cranked up to 11.
    6/24 Facebook’s libra cryptocurrency ‘poses risks to global banking’ – Guardian
    6/24 Under Trump, currencies may become the next global battleground – France 24
    6/23 Will Trump engage in a currency war? – Liberty Nation

    Charles Huge Smith;
    " Indeed, it can be argued that it was not until the 1600s and 1700s--and only in the northern European strongholds of commoners' rights, The Netherlands and England--that the rights of ownership and political influence enjoyed by commoners in the Roman Empire were matched.
    It can even be argued that the rights of Roman citizenship granted to every resident of the late Empire were only matched in the 19th and 20th centuries."
    " There are two points worth discussing. One is the acceleration of change; what took 300 years now takes 30, or perhaps less.
    The second is the slow erosion of commoners' self-rule and ownership of meaningful, productive capital.
    This gradual, almost imperceptible erosion is what I call neofeudalism, a process of transferring political and economic power from commoners to a new Financial Aristocracy/Nobility."
    "The capital and managerial expertise required to launch and grow a legal enterprise is extraordinarily high, which is at least partly why a nation of self-employed farmers, shopkeepers, artisans and traders is now a nation of employees of government and large corporations."
    As for political influence: a recent study found that voters had very little power in the U.S., which is effectively an oligarchy: Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens.
    Summary: "The U.S. government does not represent the interests of the majority of the country's citizens, but is instead ruled by those of the rich and powerful, a new study from Princeton and Northwestern universities has concluded."
    Neofeudalism is not a re-run of feudalism. It's a new and improved, state-corporate version of indentured servitude. "
    VERY good article.
    oftwominds-Charles Hugh Smith: The Lessons of Rome: Our Neofeudal Oligarchy

    6/24 One reason why the Fed should cut rates ‘four times’ over next year – CNBC
    6/24 Markets, not Trump, are pressuring the Fed to cut rates – St. Louis Today

    Leave a comment:

  • Danny B
    Iran,,, solar & nuke,,,crypto,,,gold,,,bond markets

    Saudi intel chief lobbies UK to attack Iran after Trump US cancellation - Official

    US Believes Iran Must Be Prevented From Using Allies to Attack Saudi Arabia - Envoy

    Those insane Wahabbists in Saudi want to attack Iran just because of religious differences. Iran has no interest whatsoever in attacking Saudi Arabia.
    Trump must retaliate against Iran to deter China, Russia and N Korea Says Dimwit Top GOP Rep
    Yep, cut off 80% of the oil to the West and, THAT will teach a lesson to China.
    FNC Calls Trump Weak on Iran, Will Display Pro-Impeachment Ads On Their Network
    Chris Wallace Invokes Deep-State Hero Obama To Criticize Trump On Iran

    Yep, we Americans DEMAND a war,,, any war.
    'Fire on Iran And The US will be opening gates of hell'...George Galloway in video address
    Trump Says He Doesn't Want War With Iran..'There Will Be Obliteration'

    US Wants To Avoid 'Unwinnable' War With Iran Says Former Pentagon Advisor

    A lost drone is no justification for war with Iran ...even for Trump's squawking hawks

    But, but, it was an expensive drone.
    "That’s the way Trump tried to frame this the way he did. Because the implications here are that he is being boxed in on all sides by his administration and his allies — the Saudis, Israelis and the UAE — and frogmarched to a war he doesn’t want."
    "The delay by United States Central Command in publicly releasing GPS coordinates of the drone when it was shot down — hours after Iran did — and errors in the labelling of the drone’s flight path when the imagery was released"
    Trump is no dummy. He can plainly see that the Saudis and israelies are trying to stampede him into a war that would kill a few hundred million when all the oil stopped lowing. "errors in the labelling" That's it right there. The hawks lose all credibility. Trump is shrewd and, he doesn't like being led around by the nose. Next time that the israeli / saudi coalition bombs a tanker,,, or whatever, Trump will PAUSE. The israeli / saudi coalition attacked a Japanese tanker WHILE the Japanese PM was visiting Iran.

    Russia Will Help Iran With Oil, Banking If Europe's SPV Payment Channel Not Launched
    The SPV is an alternative to SWIFT. This is a dagger in the back for dollar / American dominance.

    Whistleblower Who Warned About False Flag Attacks to Justify US Invasion of Iran Found Dead And His YouTube Channel Removed
    Nothing to see here,,, move along.
    A former Arkansas state senator, Linda Collins-Smith was found murdered in her home last week in Pocahontas, Arkansas. According to reports, Collins-Smith was closing in on a child trafficking ring which was being run by the Arkansas government.
    Nothing to see here. Move along.

    Apparently, the State is getting more worried about crypto coins.
    Can't let them compete with the dollar' - Maxine Waters blasts Facebook's cryptocurrency
    With Libra Launch, Is Facebook Trying To Become A Virtual Country?

    6/22 Global money-laundering watchdog launches crackdown on cryptocurrencies – Reuters
    6/22 European central bankers claim oversight over Facebook’s cryptocurrency – GATA

    The BIG thing wrong with gold is; it pays no interest or dividends.
    6/23 Europe’s biggest economy is looking at world without bond yields – Investing
    6/23 $11 trillion in bonds yield less than zero. Does it matter? – Forbes

    6/23 Gold shot to a 6-year high this week. Here’s what to watch next – Bloomberg
    6/23 Michael Oliver: Gold will spike to $1,700 in a matter of months – King World News
    6/22 Why are central banks buying gold and dumping dollars? – Ahead of the Herd

    Buying Gold is a Fool's Game, Even in Brexit Panic | Money › Investing › Investing

    Jun 27, 2016 - We're seeing that played out now as world stock exchanges get pummelled. Gold rose ... Gold never will pay you anything more than zero.
    6/22 The Dow is now on pace for its best June in 80 years – MarketWatch
    The Fed caused 93% of the entire stock market's move since 2008 ...

    6/23 How can the economy both be booming and headed for a recession? – ZH
    So you see that the State must inflate the markets to keep returns higher than the gains in gold / losses to currency debasement. Stocks nominally depend on earnings and returns. With the economy shrinking, all the nominal gains in stocks are due to buybacks. It's called "eating your seed corn".
    More spent on S&P 500 buybacks than all 2018 R&D - Axios

    6/23 Solar tariffs remain stable at 3.59¢/kwh in latest India auction – Clean Technica
    NO, NO, NO, we must have nuke power, no matter the cost.
    For the needed 15 terrawatts
    " If nuclear stations need to be replaced every 50 years on average, then with 15,000 nuclear power stations, one station would need to be built and another decommissioned somewhere in the world every day. Currently, it takes 6-12 years to build a nuclear station, and up to 20 years to decommission one, making this rate of replacement unrealistic."

    6/23 J & J faces multibillion opioids lawsuit that could upend big pharma – Guardian
    6/23 US launched cyber attack on Iranian rockets and missiles – Guardian
    6/23 US struck Iranian military computers this week – AP
    6/23 Cyber week in review – Council on Foreign Relations
    6/23 Trump ordered secret cyber attacks on Iran as an “alternative” to war – ZH

    The war hawks are fuming.

    "At a time of growing liquidation of dollar assets by foreigners, the US Treasury’s internal analysis will highlight future government funding problems in the light of a developing US recession. This will result in an overdependency on inflationary financing, threatening to destabilise the dollar’s purchasing power. For these reasons, America needs foreign portfolios to invest in US Treasuries, at a time when China also needs them to help finance her infrastructure plans and future development. We face a battle for these funds, and the outcome will determine all our futures."
    If"they" won't buy our bonds, we will need to do a LOT more printing.

    California has a new anti-crime program.

    "Fed President Neel Kashkari. ‘Either of those could be cause for changing the path of monetary policy, Kashkari told Bloomberg… ‘I’m not quite there yet. I take a lot of comfort from the fact that the job market continues to be strong.’”
    "In three short weeks, Kashkari’s view evolved from “It’s too early” to begin cutting rates to advocating a dramatic 50 bps cut that in the past would have been in response to a market or economic shock. Yet nothing that extraordinary has occurred over recent weeks,"

    "in excess of $13 TN of bonds trading globally with negative yields – sovereign bond markets have become completely divorced from traditional fundamentals. This equates to governments from Rome to Washington essentially being handed blank checkbooks. And with the (“risk free” sovereign debt) foundation of global finance in market dislocation, how sound are markets for equities and corporate Credit?

    Capitalism is in clear and present danger. This sounds extreme – unless you’ve followed the trajectory of developments over the years. How are capitalistic systems to operate with central banks abrogating adjustments and corrections both for market and economic systems? It takes a tremendous amount of wishful thinking to believe that today’s markets will effectively allocate real and financial resources. Sound analysis also points to only more precarious imbalances and maladjustment on a global basis. And with global fragilities increasingly conspicuous, it’s reached the perilous point where markets believe central banks will preemptively flood the global system with liquidity to forestall “risk off” in the markets and recession globally. "

    "The PBOC can effortlessly print “money” and bail out its troubled banking system. Not so fast… “Bond repos and interbank loans” up nearly 50% over the past year to $10.7 TN. Those are two data points that should alarm the world – and surely help explain panic buying of Trillions of negative-yielding global bonds. "

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  • Danny B
    Insurrection in Oregon

    Cap & Trade is just a scheme to cut down opposition to nuke power. Oregon GOV Brown is forcing it on the people. The people are NOT going for this BS.
    Militia threats prompt shutdown at Oregon capitol - The Washington Post
    10 hours ago -

    Armed Militias Pledge to Fight for Fugitive Oregon GOP Lawmakers 'At ...

    17 hours ago - Mint Images. Right-wing militia groups across the Pacific Northwest are mobilizing to prevent Oregon state police from arresting Republican state senators who went into hiding on Thursday in order to prevent climate change legislation from passing.

    This isn't just Oregon. they have lost a big part of their jobs previously because of the "Spotted Owl".
    The militias up there are a force to be reconned with.
    Western Rifle Shooters Association: Vanderboegh: The Six Apostles

    Oath Keepers Warn Feds Not to "Waco" Oregon Occupation -- or there ... › Be The Change › The State

    Jan 16, 2016 - “If you do it 'Waco' style here, you risk pushing this nation over the edge into a Civil War, because there are “no more free Wacos,” Rhodes ...

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  • Danny B
    Carbon vs nuke,,, Armstrong,,,inescapable deflation,,,Iran

    "Japan is only just beginning to assess the damage Kuroda and Abenomics have done, and that’s at a point where both these men are still in power, and hell bent on doing more of the same."
    "The Bank of Japan by now owns half the country, and they just want to do more. Kuroda’s plan to get rid of deflation was to force the Japanese to spend their money/savings."
    6/21 Yikes! Japan has more people over the age of 80 than under the age of 10 – SM
    POSSIBLY, some time in the future, we will discover that population deflation brings economic deflation.
    China had a 1-child program. Parents drowned their baby daughters. Now, China has come up short 33 million women. Is that how many were drowned?

    In Oregon, GOV Brown is trying to shove Cap & Trade down the throats of Oregonians. It will destroy the economy. Republicans want the measure put on the ballot for a vote. The GOV says NO!. She is sending out the State police to round up the Republicans to create a quorum. They have had to flee the State.
    6/20 Oregon Republican senator warns state troopers to ‘come heavily armed’ – Oregon Live

    Here are a couple of titles from Youtube.
    13:59 How fear of nuclear power is hurting the environment | Michael Shellenberger
    TED 276K views 2 years ago

    13:47 We need nuclear power to solve climate change | Joe Lassiter TED 107K views 2 years ago
    After the meltdowns at; Chatsworth, Three Mile Island, Chernobyl, Fukushima, et al, close meltdowns at other reactors, The nuke power industry has a BIG PR problem.
    Voila! bring in global warming. Make carbon power much more expensive. Make carbon power an environmental nightmare.
    For the most part, global warming is just a product of the nuke power industry.
    17:33 Why renewables can’t save the planet | Michael Shellenberger | TEDxDanubia
    Cap & Trade is a scheme from the nuke industry. GOV Brown has swallowed the whole thing.

    6/21 U.S. labor market on solid ground; manufacturing struggling – Reuters
    There are more people not in the labor force than there were in the 2008 crash

    6/21 The Fed’s casino is giving away free gambling chips (but only to the super-rich) – CHS
    6/20 Pimco says the strong dollar’s run is ‘close to the end’ – Bloomberg
    6/21 Gold breaches $1,400 in USD, sets all-time record in AUD – Kitco

    The price of gold does respond to things like war. For the most part, the price of gold stays the same. It is the value of the currency that is reflected in the "price" of gold.

    Armstrong, "Draghi has come out and said that is inflation will not pick up, he will do even more Quantitative Easing. I has warned that the central banks, particularly the ECB, are trapped. They simply cannot return to any normal economic model without blowing up the entire Eurozone. This is becoming extremely serious. The only option for governments will be to adopt the Modern Monetary Theory for it has become impossible for central banks to use interest rates to stimulate the economy"
    MAYBE it has something to do with a falling birth rate.
    The CBs are trying to make up for population deflation and wage deflation. They printed up an extra $250 trillion to save the rich bankers. Yep, they are definitely trapped.

    Armstrong, "I have come to understand Thrasymachus who observed that it did not matter what form of government we lived under, JUSTICE is always defined as the self-interest of government. Once I looked at his observation, it became crystal clear that it also did not apply to merely government, but all aspects of any group that seized power under a variety of labels including religion."
    "The target date is rapidly approaching. Indeed, we have nearly a year to understand what is taking place.

    Make no mistake about it. The majority of the youth in Iran do NOT support the current government in Iran. This also raises the stakes for the current religious regime in Ira will gradually lose power as attitudes change among the younger generations. To this inevitability, Iran becomes a greater risk for starting a war of they face the loss of power and a potential internal revolution. "

    Trump is no dummy.
    6/18 The last ditch “neverTrump” ploy: a stupid war with Iran – Stream
    6/21 Trump might not want war, but the military is steering his Iran policy – Atlantic

    CENTCOM said that the drone was shot down in international waters. The NEOCONS need for him and us to believe this. Trump will take his time until we know where it actually was. This is the last thing that the war hawks want. Bomb NOW, figure out the details later.

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  • Danny B
    PCR, Armstrong, Ron Paul, neocons

    Things are certainly getting more complex. Maybe you can make heads & tails out of it. I'm not sure of very much.
    Here is a good article from Automatic Earth talking about completely getting rid of the Central Banks.
    The CBs are a convenient target. BUT, it was U.S. GOV that forced the CB to buy war bonds. The CBs have completely distorted the economy. Much of this has been done to rescue the private banks. Much of this has been done to preserve employment at zombie companies. MUCH of this has been done to finance wars in MENA. Volker was lauded as a very good Central Banker. Paul Volker is a Presbyterian,,,, unlike all the CB heads that came after him.

    The neocons dragged us into war with Iraq.

    Paul Craig Roberts'
    "When Ronald Reagan turned his back on the neoconservatives, fired them, and had some of them prosecuted, his administration was free of their evil influence, and President Reagan negotiated the end of the Cold War with Soviet President Gorbachev. The military/security complex, the CIA, and the neocons were very much against ending the Cold War as their budgets, power, and ideology were threatened by the prospect of peace between the two nuclear superpowers.

    I know about this, because I was part of it. I helped Reagan create the economic base for bringing the threat of a new arms race to a failing Soviet economy in order to pressure the Soviets into agreement to end the Cold War, and I was appointed to a secret presidential committee with subpeona power over the CIA. The secret committee was authorized by President Reagan to evaluate the CIA’s claim that the Soviets would prevail in an arms race. The secret committee concluded that this was the CIA’s way of perpetuting the Cold War and the CIA’s importance."

    "The corrupt Clintons, for whom the accumulation of riches seems to be their main purpose in life, violated the assurances given by the United States that had ended the Cold War. The two puppet presidents—George W. Bush and Obama—who followed the Clintons lost control of the US government to the neocons, who promptly restarted the Cold War,"

    In the final analysis, I believe that the FED was a willing party to the inflation that was necessary for Pox Americana,,,, under the guidance of the neocons, to attack all these States and, bankrupt America. Everything that Eisenhower had warned about came to pass. The U.S.S.R was bound to collapse on it's own. There was NO need for America to re-arm after WW-II. Korea and Viet-Nam were just wars of choice to make the arms dealers rich.

    Naturally, we're being set up again.

    Armstrong, "The reason why we will not have a major crash (in equities) is simply because this time it is different — the crash is in the debt markets."
    How can he be so short sighted? NOTHING will save corporate debt. How will equities possibly survive?
    "This is an important work on how the central banks are trapped and how the manipulations of the World Economy are collapsing in upon themselves. The major central banks are now shifting policy from protecting the people and the economy to protecting the government. Not all are following this policy. Those that are burden with socialist programs are imploding. The more than 10 years of Quantitative Easing has destroyed bond markets and managed to get government addicted to low-interest rates"

    "This addresses the Modern Monetary Theory, its origin, and where it would leave us at the end of the day. We are at a crossroads in economic theory because ALL of the old theories has completely collapsed. Everything from Keynesian back to Marxism has crumbled to dust. "
    You can thank regulatory capture and crony capitalism.

    "LA spent nearly $620 million in tax dollars last year to address the issue, and yet the number of homeless people increased by 16%, reaching nearly 60,000 people."

    The GOV is pumping money into zombies to keep people employed. Public debt is going up astronomically. Still not enough.
    The trucking industry is taking a big hit.

    Ron Paul talks about the FED.

    6/20 Italys public debt hits new high of $2.66 trillion in April – Urdu Point
    6/20 Italy has €50 billion unpaid bills: proposed payment? the mini-bot – Mish

    Here is a good article, " The last time that recession odds were the same as they are now was in July 2007, which was just five months before the Great Recession officially started in December 2007. J"
    The feces-for-brains in the management at Boeing cut too many corners on engineering. They wanted to save a buck. That turned out to be a bad idea.

    Putin says Western sanctions cost Russia $50 B, EU $240 B
    Ah yes, climbing over the bodies of our friends and allies.
    6/20 Student loan debt climbs to record high $1.4 trillion in 2019 – Mish

    Leave a comment:

  • Danny B
    FOFOA on gold,,, Libra coin,,,elusive bond buyers

    I have to start out with a bit of politics.
    GOP rep: Obama running 'shadow government' to undermine Trump .https://thehill.
    Report: Obama climate change aides in shadow 'cabinet' to thwart Trtump
    How Trump's 'War' On The 'Deep State' Is Leading To The Dismantling Of Government

    There may be some truth in these statements. All retiring presidents leave D.C. Obummer didn't. It's also true that many of the deep state moles are obummer holdovers. The attempted coup that has angered and scared so many people was directly controlled by HRC and Barry. The buzzards are coming home to roost.
    Here is Kunstler to give you his opinion. It is grim.****
    Remember that the markets run on confidence.

    Here is a story 30 years in the making. It is a story about the niche that gold occupies. I'll do some excerpts but you should read the whole thing. Remember that gold is just a pet
    rock. Remember that the CBs tried to get rid of gold many years ago. Keep in mind that the East won't let them do that. The CBs are loading up on gold.

    "They believe, we are entering a new monetary and financial system in which gold will displace the most conservative types of investments, those used by passive savers.
    For A/FOA, gold is the master proxy for real wealth, meaning not money, but the actual wants and needs that contribute to our standard of living. That's real wealth, useful things, and gold is the useless proxy we can save and exchange for those things in the future.
    Yes, there are many problems today, but they stem from the $IMFS, not from modern fiat money. And by that, I mean they stem from savers all over the world saving in today's fiat money.
    the price of gold has no impact on the price of other things—it's basically an arbitrary price—whereas the price of oil is closely related to the general price level, i.e., inflation, and B) because the gold/oil ratio of the last 73 has never been allowed to find its physical equilibrium price.
    The "battle" has already ended. Europe stopped when the euro was launched, and the rest of the foreign public sector stopped supporting the $IMFS five years ago.
    What’s important today is not what’s priced in dollars or the dollars used for transactions, but the dollars held as reserves, savings and wealth.
    The ball that I watch is capital inflow, that is, foreigners buying US assets. That’s all it takes to support the current system. When that stops, we will get dollar hyperinflation. Since 2013, the foreign public sector has been flat, which means foreign central banks stopped more than five years ago.

    This is where I have to differ.Like most things, it isn't that simple. Here is an article that lays out just who is buying U.S. Treasury debt. Keep in mind that that there is NO way to verify any part of the report. The report claims that foreign CBs ARE buying U.S. debt. Why not?? The FED credits them with a trainload of pixels and, they use those pixels to buy U.S. debt. One big confidence game to out last the competition..

    Back to FOFOA.
    "It’s been the foreign private sector buying our bubbles since then.

    That will stop when the markets crash, and an important part of my theory is that I don’t think the foreign central banks will pick up the slack this time like they have in the past.
    The question is whether Europe and China will prop up the dollar at that critical juncture between when the stock market crashes and the dollar devaluation begins. In the past, they couldn’t let the dollar collapse without it taking them down with it. But today they are prepared, and because they are now taking active measures to counter the USG’s aggressive use of its exorbitant privilege, I don’t think they will be very quick on the draw trying to prop it back up. And that hesitation is important, because once the dollar collapse gets underway, there will be no putting that cat back in the bag.
    This is too simplified. The dollar sin't going to rash in a vacuum. everything will go down.

    " He said, basically, that the first sign of a bubble market turning is usually some single crazy mania thing that happens. Like in the dot-com bubble, it was, and in this one it was Bitcoin. It’s a sign that something has changed.
    That whole run-up in Bitcoin from $2,000 to $20,000 during the second half of 2017 was pretty insane"

    The landscape is getting pretty weird with all these coins.
    6/18 Bitcoin prices have tripled since December–what’s next? – Forbes
    6/18 Facebook introduces new “libra” digital currency with landmark white paper – ZH
    6/19 “Facebook is positioning for collapse of confidence in fiat money” – ZH
    6/19 U.S. lawmaker calls for Facebook to pause cryptocurrency project – Reuters

    FOFOA, "Most of the problems with the euro today, and criticisms of it, are actually effects of the current system, the dollar international monetary and financial system ($IMFS), the fishbowl in which even the euro swims today. Once it is free from the $IMFS, the euro will be money par excellence. The reason is mostly because of its management structure."
    This is complete BS. The Euro can't possibly function for all these States unless they have a common debt market. This means shafting Germany hugely.
    "In his famous acceptance speech for the International Charlemagne Prize of Aachen for the euro in 2002, Wim Duisenberg said, “It is the first currency that has not only severed its link to gold, but also its link to the nation-state.” You see, the euro solved two problems. 1. It severed its link to the wealth reserve function of money. And 2. it severed its link to the Triffin Paradox of an international currency being managed by a single nation. These are the dollar’s two greatest problems, and the design of the euro resolved them."
    This too is inaccurate and over-simplified.

    6/19 Meet the mini-bot: Italy will break up the eurozone – Mish
    6/19 Value of debt with negative yields nears $12 trillion – MarketWatch

    How can they use the word Value?
    6/19 China’s Lehman moment Is drawing closer – Bloomberg
    Yep,,, for sure. We've been hearing that for 10 years now.
    6/19 “Miracles aren’t coming” – surefire recession signals everywhere – Zero Hedge
    6/18 Blain: “low rates won’t solve the coming corporate debt crisis” – Zero Hedge

    6/18 Investors demand higher premiums for risky Australian mortgage bonds – Reuters
    6/19 Gold surges to all time record highs at $1,974/oz in Australian dollars – GoldCore

    I'm sure that there is no connection.
    6/18 Ho Ho Ho it’s magic: Deutsche Bank, market cap $14b to spin off $50b in assets – Mish

    Leave a comment:

  • Danny B
    Crash of agriculture and manufacturing

    Not much to read,,,, a LOT to understand.
    The sun is completely quiet. No sunspots,,, no coronal holes. Quiet as can be. At the same time, violent storms are blasting the globe. If you watch this vid from Suspicious Observers, Ben Davidson explains that much of our weather is caused by cosmic rays and other extra-solar energies. So, while the sun is quite weak, there are more extra-solar energies getting through. Our magnetosphere is continuing to weaken.

    Crop destruction all over the world is increasing. Reportedly, we have thrashed Mother Nature quite soundly. Mother Nature is striking back.
    The Fall Army Worm is eating up China.
    China is going to have to cull 200 million swine to try to stop the spread of African Swine Fever. It's going to spread through much of Asia.
    Much of the farmland in America won't be planted this season. I suspect that the wild weather will continue for quite some time. This bodes poorly for many countries.

    6/15 Biblical plague of locusts is swarming over Italian farmlands – AccuWeather
    Nobody wants to pay for a house that is appraised for less than what is owed.
    "In a recent interview with AgWeb, the president and CEO of Hackett Financial Advisors, Shawn Hackett, explains why he thinks our civilization will have to come up with new ways of growing food over the next 5 years. "
    Um,, guys,,, 5 years is NOT enough.

    France has declared a state of disaster because of weather damage.
    Here is a good vid explaining how the current model of farming is destroying the soil. The end result of intensive farming is; the food has no nutritional value because it is lacking in minerals.
    Here is an EXCELLENT vid on the electrical circuits created in the body by the various mineral / ion exchanges.
    Here is a brilliant video on angiogenesis. There are several "foods" that you can eat that will prevent the body from creating new blood vessels to send nutrients to cancer cells.

    6/17 Empire State manufacturing index just saw its biggest drop in 18 years – CNBC
    Hmm, back to the dotcom crash.
    6/17 Fed critic Jim Grant predicts a rate cut at this week’s meeting – CNBC
    6/17 Fed likely to resist pressure to cut U.S. rates this week – Reuters

    Leave a comment:

  • Danny B
    Bumps and bubbles everywhere

    The FED controls dollar liquidity and, can shaft any State that does not follow U.S. policy. Pox Americana does not care what happens to non-Americans.
    The non-Americans are making new arrangements to escape dollar hegemony.
    Escaping the dollar also means escaping the American controlled IMF.
    Foreign banks willing to join Russia’s alternative to SWIFT

    Meanwhile, the war hawks are trying to drum up a big war against Iran.
    Secretary of State Mike Pompeo said the United States would no longer grant oil waivers to China and India, Iran’s two largest customers.
    The countries that need Iranian oil.
    "In any case, the oil weapon has proven to be an ineffective instrument in the past, for both producers and consumers. Both sides are always dependent on one another, with the producers needing the money and the consumers needing the fuel. "
    Dubai (CNN Business)Asia's biggest economies are scrambling to find new sources of oil after the United States said it would no longer grant exemptions to sanctions on Iranian crude exports.

    In other news;
    French Billionaires Waffle On Notre Dame Rebuild As US Donors Foot The Bill
    As I recall, Americans rescued the leaning tower of Pisa when it accelerated it's fall.
    Bernie Plagiarizes Stalin With 'Economic Bill Of Rights'
    You just can't guarantee a job for everyone. We spent the last 150 years inventing labor-saving devices.
    As I've laid out many times before, the nature of the corporation is completely anti-human.
    Ocasio criticizes Bezos for paying Amazon workers 'starvation wages'
    So, the humans are complaining. Get more robots.

    Entertainment; In the opening monologue on her Saturday night FOX News show, Jeanine Pirro railed against former FBI director James Comey, accusing him of running his own "crime family" and attempting to stage a "bloodless coup" against President Trump.

    "They're not going quietly into the night, It will be a joy to watch," Pirro began in her opening segment Saturday evening. "Grab your popcorn, Junior Mints or whatever makes you happy. The real show is about to begin. This will be true reality TV. No scripts, no rehearsals, just a gang of criminals pointing fingers at each other to save their own hides. A version of true crime and the reality show Survivor. The deep state exposed."

    There may be a robocop in your future.

    6/17 All eyes on Fed as stock market pines for rate cut – Reuters
    6/17 Midwest floods: Illinois farmers give up on planting and throw party – CNBC
    6/17 Deutsche Bank to set up 50 billion euro bad bank – US News

    Deutsche bank IS the bad bank.
    Apr 17, 2019 - A derivatives book of $49 trillion notional puts Deutsche Bank
    After a $354 Billion U.S. Bailout, Germany's Deutsche Bank Still Has big problems.

    6/16 Inspired by Deutsche Bank death spiral, EU banks sink to Dec 24, 2018 level – WS

    50 billion euro is chicken feed
    6/17 The copper:gold ratio is one of the untold wonders of market analysis – MunKnee
    6/17 The coming perfect storm for 2019 recession – GRB
    6/16 The growing risk of a 2020 recession and crisis – Nouriel Roubini

    6/16 Morgan Stanley: the idea that “bad is now good” is ludicrous – Zero Hedge
    6/16 India to impose retaliatory tariffs on 28 U.S. goods from Sunday – Reuters
    6/16 “Catastrophic,” Trump’s tariff threat has retailers sounding alarm – NY Times

    6/17 Former PBOC head warns trade war can trigger competitive devaluation – Gulf Times
    It's not that simple.
    6/17 Bitcoin is an insult to gambling – NY Post
    6/17 Bitcoin is a bet against gold, not fiat currencies, precious metals proponent argues – BE

    6/17 House prices nationwide are tipped to soar by 20% over the next four years – Stuff
    Want to bet on that?
    More Than 1 Million Americans Will Be Priced Out Of The Housing ...

    Jan 10, 2019 - According to new data from the National Association of Home Builders, a mere $1,000 increase in the nation's median home price would price 127,650 households out of the market. If mortgage rates rise just 25 basis points — from 4.75% to 5%, for example — then another 1 million will be priced out as well.

    6/15 Unhealthy foods damage brain earlier in life than first thought –
    You see that a lot in politicians.
    6/16 Pentagon keeps Trump in the dark about its cyber attacks on Russia – RS
    6/16 U.S. escalates online attacks on Russia’s power grid – NY Times

    6/15 Beijing yields to Hong Kong’s financial clout – Reuters
    Beijing claimed that they could extradite anybody they want from Hong Kong. Millions protested. Hong Kong controls a LOT of money.

    Here is an excellent graph from a very good article.

    The speculative asset chase over the last decade, which is a direct result of Central Bank activity, has locked investors into a period of near zero prospective total returns in virtually in every asset class for the coming decade.

    Read that again.

    The 1999-2000 bubble was about technology stocks. (7-Years to breakeven)
    The 2007-2008 debacle was centered around real estate and subprime debt. (7-years to breakeven)
    The 2020, or whenever it occurs, scenario will involve multiple bubbles in stocks, corporate debt, and real estate."
    Every politician wants his tenure to be a great, rosy picture. They invariably expand the money supply. Each time, there is a pause / crash, the CB must blow an even bigger bubble to keep things growing.
    Trump Warns of Epic Stock Market Crash If He's Not Re-Elected ...
    2 days ago -
    This game of musical fiscal chairs is coming to an end.

    This article is all about trading strategies. But, if "wealth to GDP" has always reverted to the mean for the last 150 years, what are the chances?

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