Archive For: August 2014

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The Mother Of All Blowback: How Washington Created ISIS

Worse, the western intervention in Syria produced what is known in the intelligence business as “blowback”- in this case the Mother of all blowback. The Syrian jihadist supported by the western powers and, for some baffling reason, Turkey, ran amok. A previously unknown band of gunmen known as the Islamic State of Iraq and the Levant were trained and armed in Jordan by CIA, then turned lose on Syria.

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Here Comes The Demise Of Housing Bubble 2.0: Home-Flipping Collapses In SF And Other Hot Markets

But flipping has started to run out of air in much of the country. And in the multi-county metro area of San Francisco, flipping collapsed in the second quarter, and flippers for the first time in years, started wading into red ink.

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Your Wall Street Slumlord Arrives in Europe – Goldman and Other Financial Firms Launch “Buy to Rent” in Spain

Now that the financial oligarchs have had their way with the U.S. property market, to the point that average citizens can’t even afford to own a home (Zillow recently showed that 1 in 3 homes are unaffordable), it appears they have turned their sights overseas. What better market for bailed-out bankers to feast on than Spain, with its 50%+ youth unemployment rate and a continued depressed real estate market.....

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Keynesian Fairy Tale Alert: Establishment Citadel---Council On Foreign Relations----Peddles Helicopter Money Plan

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Krugman And The Keynesian Chorus Are Lying: Japan's "Lost Decade" Is A Myth

The truth is that the Japanese and US economies have performed in lock-step since 2000, and their performances have matched each other going as far back as 1980.....

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Hillary Clinton's Interventionist Fiascos: Here's Chapter And Verse

The valkyrie of the Democratic Party says she urged President Obama to do more to aid Syrian rebels years ago. And last summer, she supported air strikes on Bashar Assad’s regime. When has Hillary Clinton ever been right on foreign policy? Had we followed her advice and crippled Assad’s army, ISIS might be in Damascus today, butchering Christians and Alawites and aiding the Islamic State in Iraq in overrunning Baghdad.

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Japan's Keynesian Money Printing Experiment Continues To Fail: Jobs, Real Incomes And Spending Plunge Again

Inflation-adjusted household income fell 6.2% in July y/y, extending its slide to a 10th month in a row, according to data released today by Japan’s statistics bureau. That is the longest period of declines since at least 2004......

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The Stupendous Failure Of Big City Education: How The Philly Teachers Union Loots The Schools

So let me get this straight. The average Philadelphia teacher is receiving compensation and benefits of $112,700 and 50% of the students dropout, while of the remaining students only 45% can do math, 35% can read, and 30% can write. But at least they have some nice murals dotting the decaying schools....

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The Stock Buyback Party Is Ending: Look Out Below!

In other words, while QE has been the permissive factor enabling companies to engage in zero cost debt-funded stock repurchases, it was corporate CFOs and Treasurers who, in lieu of traditional retail and institutional buyers, have been the marginal buyers of stocks in the tail end of the most ridiculous, rigged, and as CNBC likes to call it, "unloved" rally of all time.

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Q2 GDP Revisions: Its Still 2% Sans The Inventory Noise

Following up on my earlier observations about a reduced trajectory, getting away from the thick trees of quarterly statistic movements and revision for the forest of patterns and paths, viewing the subcomponents of GDP as standalone accounts rather than contributors highlights exactly that problem. Whether you view the economy through real final sales (both of [...]

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