Archive For: March 2014

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The Pentagon At Work: $8.5 Trillion Spent Without An Audit; None In Sight

The former Secretary of Defense acknowledged in May 2012 that the DOD “is the only major federal agency that cannot pass an audit today.” The Pentagon will not be ready for an audit for another five years, according to Panetta.

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Ron Paul Says Aid To Ukraine Is A Bad Deal For All: He's Right!

This $1 billion for Ukraine is a rip-off for the America taxpayer, but it is also a bad deal for Ukrainians. Not a single needy Ukrainian will see a penny of this money, as it will be used to bail out international banks who hold Ukrainian government debt.

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That Was Quick! Wall Street's Fleet Of John Deere Lawnmowers Fleeing California Buy-To-Rent

It seems as if the pullback of private equity and hedge funds from this asset class is even more brutal in certain regions, with Blackstone now reporting its purchases in California down a staggering 90% this year.

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The Pain In Spain Brings 0.2% Gain That's Bogus Again

The official results are in. Spain missed its budget deficit target considerably by reasonable reporting, barely by another.Spain's Budget Deficit Only Two Tenths Lower in 2013 Despite Massive Tax IncreaseVia translation from Libre Mercado please consi...

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China Accelerates Bad Debt Writeoffs: The Ponzi Fractures Widen

Financial stress related to Ponzi financing and other bad debts in China is readily visible in numerous places. One result is China’s Big Banks Double Bad-Loan Write-Offs.

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Peak Margin Debt Too: This Time Is Still Higher

Margin debt is a crummy predictor of a crash. But it has a bone-chilling habit of peaking right around the time stocks do crash. In the last fifteen years, it spiked three times: during the final throes of the bubbles that imploded in 2000 and 2007; an...

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Here Come The Pitchforks In China: The Comrades Start Busting The Kleptocrats

Unlike in the West, being a kleptocratic crook in China is now becoming a higher risk proposition. One gets the sense that as the credit monster collapses in China, and as auntie’s wealth management product is shown to be a loss, out will come the pitch forks. Seizures, arrests and even executions will become the […]

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Damp The Fire In Kerry's Resplendent Hair: The Crisis Is Over Here!

   Apparently someone at the US State Department put out the fire in John Kerry’s magnificent head of hair, because he has stopped declaiming (for now) on the urgent need to start World War Three over Russia’s annexation of the Crimean …

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China's Monumental Ponzi: Here's How It Unravels

China is the greatest construction boom and credit bubble in recorded history. An entire nation of 1.3 billion has gone mad building, borrowing, speculating, scheming, cheating, lying and stealing. The source of this demented outbreak is not a flaw in Chinese culture or character---nor even the kind of raw greed and gluttony that afflicts all peoples in the late stages of a financial bubble.

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The Warfare State's Big Lie About "Gutting" Defense: It's Still Massively Bloated

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