In brief (pun intended): a complete, unpredictable clusterfuck accompanied by wholesale liquidations of “liquid assets”, deleveraging and potentially a waterfall effect that finally bursts China’s bubble, all due to a simple black swan. Although, in reality, nobody knows. Just like nobody knew what would happen when the government decided to let Lehman fail.
Iconic animator Mike Judge, the man behind Beavis & Butt-Head and King of the Hill, told Infowars in an exclusive interview that his 2006 movie Idiocracy, which depicted a dystopic futuristic society populated by morons, is already unfolding, as well as sounding off on a number of different issues including gun control and Hollywood.
7.4 Fiji Quake
I expect the average price of non-investment-grade debt (aka junk bonds) to fall 50%. Investment-grade bonds will fall substantially, too. (I’d estimate something around 25%.) This is going to wipe out a huge amount of capital… and believe me… it’s 100% guaranteed to happen.
Today’s Friday Digest is no different. In fact, what I would like to show you today is without a doubt the single greatest threat to your wealth you will ever face. Even so, I’m confident almost all of you will ignore this warning until it is far, far too late.
From Benghazi and Boston to Kabul and Karachi, to Fort Hood, Detroit and New York, Barack Obama and his aides have been lying about terror.
If the IRS scandal wasn’t enough to convince you that bloated, corrupt, bureaucratic government institutions pose a greater threat to our freedoms than any terrorist attack ever could, this story should settle it once and for all.
Vice Adm. James Syring, the director of the Pentagon’s Missile Defense Agency, said recently that the administration of US President Barack Obama had discussed the possibility of sharing missile defense data with Russia, the Associated Press reported.
We can only hope they still have some collateral and aren’t margined up 100%. That would not be good for the Japanese pennystockmarket and “experiment” no matter how much good luck Jens Weidmann wishes them.
A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve. The network has seized control of the media to cover up its crimes, too, she explained.
Uncle Sam has an unfunded pension liability of $800 billion.
Corporate pension funds have an unfunded liability around $400 billion.
State and local pension funds have an unfunded liability in the tony neighborhood of $3 trillion.
That’s over $4 TRILLION in UNFUNDED pension funds.
It’s a huge problem and it’s getting worse. And there’s one individual to blame for all that $4.2-plus trillion of money we need to find – Ben Bernanke.
That’s right, the Boomers, in allegiance with the financial elite, engineered a transfer of all other generations’ income to themselves. This, plus being born in an expanding demographic, was the totality of their investing genius.
according to the census bureau, the average new home sale price just hit a new all time high, rising by a record 15.4% to a record $330,800. In a country in which real disposable consumer income is flat at best and in reality declining, it only makes sense that the average new home price just hit a level not seen since the prior credit-bubble fueled housing peak.
When questioned at the House Ways and Means Committee (WMC) hearing last week, Miller told House Representative Devin Nunes that “America’s tax system is ‘voluntary’”. When Nunes remarked for clarification that the US tax code is a “voluntary system”, Miller said, “Agreed.”
Japan’s bond market is officially losing control.
It was only after the realization of what soaring bond yields mean for, wait for it, stocks (despite central planner promises that it is soaring bond yields that are a good thing – turns out, they aren’t) that the sell-off really started. That, and of course copper, and the end of the Chinese Copper Financing Deals arrangement that has been China’s illicit cross-asset rehypothecation scheme for years (more shortly).
Jefferson did write in a 1789 letter to Welsh philosopher Richard Price that “wherever the people are well informed they can be trusted with their own government; that whenever things get so far wrong as to attract their notice, they may be relied on to set them to rights.”
Unfortunately this isn’t happening; ‘the people’ aren’t rising up to set things right.
And this is an important reminder: we cannot rely on a government or society to provide us with freedom or the economic opportunity which stems from it. We can’t wait for tens of millions of people to ‘wake up’ and ‘vote the bums out’. Or take to the streets.
If history is any indicator, the fear and intimidation will likely get worse. This problem doesn’t just go away, and it doesn’t resolve itself.
At the eight Army posts that house most of the service’s combat units, including Fort Carson in Colorado Springs, misconductdischarges have surged 67 percent. All told, more than 76,000 soldiers have been kicked out of the Army since 2006.