When the Lamb opened the third seal, I heard the third living creature say, “·Come [or Go]!” I looked, and ·there before me was [L look; T behold] a black horse [C indicating mourning brought on by the rider], and its rider held a pair of scales in his hand[C for use in commerce; Prov. 11:1; 16:11]. 6 Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, “A quart of wheat for a ·day’s pay [L denarius; C a Roman coin equal to a day’s wage], and three quarts of barley for a ·day’s pay [L denarius; C inflated prices caused by famine], and do not damage the olive oil and wine [C indicates only partial destruction; vines and olive trees endured drought better than wheat and barley]!”
Worse still, when a high commissioner of the IRS takes the 5th Amendment, it sends a frightening message: those audited go to jail when they refuse to testify; those who audit them who do the same do not.
The conclusion: Sell Egypt.
For the 6th day in the last 8, the market has flashed another warning that all is not well in this ‘most levered ever’ equity market.
What an army of rabble-rousers, economists (those banished from the mainstream media), and bloggers, including your humble servant, have been hammering on for years, a study by the San Francisco Fed now finally confessed: Quantitative Easing didn’t do a heck of a lot of good for the real economy. Whatever it did for Wall Street, and however it shifted wealth to the upper echelon of society, and however it destroyed what little remained of the free markets, and whatever distortions, misallocations, and bubbles it created, QE had “at best,” – emphasis mine – “moderate effects on economic growth,” the study said. The Fed’s Confession: We Can Avoid A Crash At The End Of QE If Everybody Believes That Everybody Believes In A Mirage…. No way José. Instead, the Fed would reconstruct the belief system. So it shifted its manipulation machine into reverse. While it had preached for years that QE was re-inflating asset values and liberally took credit for the “wealth effect,” it now says that QE had nothing to do with it, that asset values ballooned on their own or whatever, and that investors shouldn’t fear the end of QE because QE never mattered in the first place. Economists are already being quoted in the media confirming precisely that, and radio talk shows discuss it, and the hope is that everybody will soon believe that everybody believes that the party can go on without the punch bowl; that in fact, it had been there all along just for decoration. And so the party might go on a little longer, until someone discovers the missing moolah – or the economic realities hidden under these assets.
The first direct Israeli-Palestinian peace talks in three years have begun in Jerusalem, say Israeli officials.
Few details have been released about the location, timing or agenda of the talks and both sides have been cautious about achieving any breakthrough.
“We have so many threats in the region, you know, that we’ll have to discuss,” Netanyahu said to Dempsey, “but one dwarfs everything else, and that is the threat that Iran gets nuclear weapons
“This is ·what the words mean [L the interpretation of the matter]: Mene [C “Numbered”]: God has ·counted [numbered]the days until your kingdom will end. 27 Tekel [C “Weighed”]: You have been weighed on the scales and found ·not good enough[deficient; lacking; T wanting]. 28 Parsin [C “Divided”]: Your kingdom is being divided and will be given to the Medes and the Persians [C from the Iranian plateau].”
He also blasted the Obama administration for its handling of Egypt and the Israeli-Palestinian crisis and predicted an Israeli military strike on Iran’s nuclear program very soon.
Clashes between the Egyptian military and supporters of the Muslim Brotherhood left scores dead and hundreds injured this week, and Middle East expert Dr. Mike Evans says the turmoil will eventually lead to an Egyptian civil war.
While we do not claim to know what Yellen’s daily POMO quota would be, especially if she is faced with the same contracting deficit problems that are plaguing Bernanke now (although with the Egyptian civil war due any minute now, US deficit spending seems posied to surge giving the Fed much needed room to monetize a spike in Treasury issuance), and are the sole reason for the taper, we do know one thing: when it comes to her “foresight”, rumors of its clarity and depth are certainly vastly exaggerated.
For the 12th week of the last 14, mortgage applications in the US fell this week. Despite the ongoing (though quietening) exclamation that the housing ‘recovery’ will continue, it is hard for even the most ardent ‘believer’ to still think that a rise in interest rates will have no effect on housing when mortgage actvity has collapsed by ove 50% in the last 3 months.
President Robert Mugabe said today that his party had won “a resounding mandate” from voters to complete a sweeping “black empowerment” programme, taking over foreign and white-owned assets.
But a lot of people in New Haven are starting to wonder why there have been so many recent episodes of black mob violence. And why the newspapers are loathe to cover it in any way – other than to deny it is happening.
As part of its effort to boost enrollment in the exchange created by President Obama’s health care law, the D.C. Health Benefit Exchange doled out $6.4 million to 35 DC-based groups.
One of the largest awards went to Planned Parenthood of Metropolitan Washington D.C. A full list of groups is available here.