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The Economic Scam of the Century

March 27, 2014

The leaders of the U.S. Senate Banking Committee,  Sen. Tim Johnson (D., S.D.) and Sen. Mike Crapo (R., Idaho),  released a draft bill on Sunday that would provide explicit government guarantees on mortgage-backed securities (MBS) generated by privately-owned banks and financial institutions. The gigantic giveaway to Wall Street would put US taxpayers on the hook for 90 percent of the losses on toxic MBS the likes of which crashed the financial system in 2008 plunging the economy into the deepest slump since the Great... Read article

Economic Suicide

March 25, 2014

Abenomics has been great for stock speculators and corporate bigwigs, but for everyone else, not so much. The fact is–despite all the media hype and monetary fireworks–Prime Minister Shinzo Abe’s three-pronged strategy to end 20 years of deflation has been a total bust. But don’t take my word for it, check out this clip from Reuters and see for yourself: “In the fourth quarter of last year, Japan’s economy grew at an annual rate of just 0.7 percent, revised figures show, slower than the initial estimate of... Read article

Housing: One Chart Says It All

March 22, 2014

Get a load of this chart from DataQuick’s National Home Sales Snapshot. It’ll tell you everything need to know about housing. (Note: MSA=metropolitan statistical area) As you can see, prices are flatlining or drifting lower while sales are sinking like a stone. That’s the whole ball of wax, isn’t it? Sure, sales will increase in the spring (as they always do), but judging by the sharp dropoff in last year’s hottest markets, this could be the crappiest spring selling season since the crash. Why? Because prices... Read article

Obama Backs Down On Crimea

March 19, 2014

“I never thought I’d live to see the day when the US State Department whitewashed the neo-Nazi views and heritage of a gang of thugs who had seized power in a violent coup d’état. In Iraq, Libya, and Syria, US policymakers empowered radical Islamists of one sort or another. That was bad enough. Today, however, in Ukraine they are empowering the heirs of Adolf Hitler. How is this not a scandal?” –Justin Raimondo, From Iraq to Ukraine: A Pattern of Disaster The Obama administration suffered its worst foreign... Read article

Obama: The Willing Executioner

March 14, 2014

“The crimes of the United States have been systematic, constant, vicious, remorseless, but very few people have actually talked about them. You have to hand it to America. It has exercised a quite clinical manipulation of power worldwide while masquerading as a force for universal good.” - Harold Pinter, Nobel Acceptance Speech “Obama is just a willing executioner. From the ruling class’s point of view, he’s the perfect figurehead because his mere appearance confuses and disarms so many. He seems to have spent... Read article

Big Oil’s “Sore Losers” Lead The Drive To War

March 14, 2014

“We are witnessing a huge geopolitical game in which the aim is the destruction of Russia as a geopolitical opponent of the US or of the global financial oligarchy…..The realization of this project is in line with the concept of global domination that is being carried out by the US.” - Vladimir Yakunin, former Russian senior diplomat “History shows that wherever the U.S. meddles; chaos and misery are soon to follow.” - Kalithea, comments line, Moon of Alabama Following a 13 year rampage that has reduced large... Read article

Grand Puppetmaster Brzezinski Directing War Strategies From The Shadows

March 8, 2014

“From the moment the Soviet Union collapsed in 1991, the United States has relentlessly pursued a strategy of encircling Russia, just as it has with other perceived enemies like China and Iran. It has brought 12 countries in central Europe, all of them formerly allied with Moscow, into the NATO alliance. US military power is now directly on Russia’s borders…This crisis is in part the result of a zero-sum calculation that has shaped US policy toward Moscow since the Cold War: Any loss for Russia is an American victory,... Read article

The Coup In Ukraine: Obama’s Dumbest Plan Yet

March 1, 2014

“Washington and Brussels … used a Nazi coup, carried out by insurgents, terrorists and politicians of Euromaidan to serve the geopolitical interests of the West.” — Natalia Vitrenko, The Progressive Socialist Party of Ukraine The United States helped defeat Nazism in World War 2. Obama helped bring it back. As you probably know by now, Obama and Co. have ousted Ukraine’s democratically-elected president, Viktor Yanukovych, with the help of ultra-right, paramilitary, neo-Nazi gangs who seized and burned government... Read article

The Greatest Propaganda Coup of Our Time?

March 1, 2014

There’s good propaganda and bad propaganda. Bad propaganda is generally crude, amateurish Judy Miller “mobile weapons lab-type” nonsense that figures that people are so stupid they’ll believe anything that appears in “the paper of record.” Good propaganda, on the other hand, uses factual, sometimes documented material in a coordinated campaign with the other major media to cobble-together a narrative that is credible, but false. The so called Fed’s transcripts, which were released last week, fall into the... Read article

“Firesales” Could Trigger Another Financial Crisis

February 22, 2014

“The repo market wasn’t just a part of the meltdown. It was the meltdown.” – David Weidner, Wall Street Journal, May 29, 2013. Ask your average guy-on-the-street ‘what caused the financial crisis’, and you’ll either get a blank stare followed by a shrug of the shoulders or a brusque, three-word answer: “The housing bubble”. Even people who follow the news closely are usually sketchy on the details. They might add something about subprime mortgages or Lehman Brothers, but not much more than that. Very... Read article

Foreclosure Filings Jump As Investors Eye Exits

February 16, 2014

“Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.” – John Maynard Keynes, The General Theory of Employment, Interest and Money It’s too bad Keynes isn’t around today to see how the toxic combo of financial engineering, central bank liquidity and fraud have transformed... Read article

Caught Red Handed

February 12, 2014

Secret Tape Reveals US-backed Plot to Topple Ukraine’s Democratically-Elected President… “In the latest debacle for the US State Department and the Obama Administration, US Assistant Secretary of State Victoria Nuland was caught on tape micro-managing Ukraine opposition party strategies with US Ambassador to Ukraine, Geoffrey Pyatt. That the Ukraine regime-change operation is to some degree being directed from Washington can no longer be denied….The taped conversation demonstrates in clear detail that... Read article

Prelude To A Crash

February 4, 2014

The Fed’s easy money policies have pushed margin debt on the New York Stock Exchange (NYSE) to record levels laying the groundwork for a severe correction or another violent market crash. In December, margin debt rose by $21 billion to an all-time high of $445 billion. Buying equities on margin, that is, with loads of borrowed cash, is a sign of excessive risk taking the likes of which invariably takes place whenever the Central Bank creates subsidies for speculation by keeping interest rates pegged below the rate of... Read article

Is This The Big One?

January 29, 2014

The New Wave of Financial Instability… Global stocks were hammered on Friday for a second straight day on news of a slowdown in China and turbulence in emerging markets. The Dow Jones Industrials suffered its worse drubbing in more than two years, tumbling 318 points on Friday to end a 490 point two-day rout. Emerging markets currencies were whipsawed by capital flight as foreign investors fled to the safety of U.S. Treasuries. Turkey’s lira and the Argentine peso were particularly hard hit setting record lows... Read article

Obama’s Corporate Plantations

January 11, 2014

Deregulation, Privatization, and Cheap Labor… The man who promised to restore hope and bring change to America, has announced a plan to open five corporate plantations in the United States. On Thursday, President Barack Obama, whose policies have resulted in the greatest number of public sector job losses in US History (Public sector jobs have declined by 718,000 jobs since Obama took office.) announced the opening of five “Promise Zones” located in San Antonio, Philadelphia, Los Angeles, southeastern Kentucky,... Read article

Don’t Plan On Retiring – Work Until You’re Dead?

January 1, 2014

Millions of older Americans say they will never be able to retire. They simply don’t have the savings. According to CNN, “Roughly three-quarters of Americans are living paycheck-to-paycheck, with little to no emergency savings…50% have less than a three-month cushion and 27% had no savings at all….” (“76% of Americans are living paycheck-to-paycheck“, CNN Money) “No savings at all”? That’s right. So retirement is out of the question. A sizable chunk of the adult population is going to punch a clock... Read article

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