Archive For: March 2014

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The War Party At Work In Syria: Another Nation Destroyed, More Blood On America's Hands

Another Middle East nation has been destroyed because the "opposition" was provoked, supplied, trained, armed and financed by the West and the Persian Gulf sheiks. Whatever its legions of sins, the Assad regime has been no more brutal, tyrannical, decadent or self-serving that the House of Saud or the Al Thani rulers of Qatar. So the "civil war" is not about better government for the Syria's suffering population because it is no longer a civil war at all---if it ever was.

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Economic Sanctions Are Arbitary and Lawless

To President Obama, two wrongs make a right. Also, might makes right.......Bank Rossiya is frozen out of the US dollar even though it is not a rogue bank, is not involved in any criminal investigation, and in fact has not done anything wrong.

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The Short-Form Beltway Formula: More Debt, More Taxes

The red flags contained in the national and global headlines that have come out thus far in 2014 should have spooked investors and economic forecasters. Instead the markets have barely noticed. It seems that the majority opinion on Wall Street and Washington is that we have entered an era of good fortune made possible by the benevolent hand of the Federal Reserve. Ben Bernanke and now Janet Yellen have apparently

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Fed's Cheap Money Fueled Massive Capital Inflows to EM And Resulted In Rampant Over-Building and Corruption: Desperate Politicians Now Taking Cheap Shots At Likes of Twitter

Elected politicians, like dictators, will do anything they can to stay in power. In second- and third-tier countries, their first order of business is to control the press, typically by taking state ownership of all television and newspaper interests.

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The Yellen Cacophany Begins: Confused Markets Are Going Off Their Fed Meds

There were evident divergences all across the credit complex as the Yellen Fed takes shape. Maybe it relates to these “markets” being more accustomed to Bernanke and his manner of speech and saying nothing, but to me there appears to be little consensus about anything. I have said on previous occasions this year that swap [...]

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Fed Policy Change: Replacing Phony 6.5% Unemployment Target With Pure Politburo Jabberwocky

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China Faces "Minsky Moment" on Ponzi Financing

Inquiring minds are tuning into a report on the Ponzi finance setup in China. Most assume China can grow at 7% a year, a notion that I have challenged on many occasions. Morgan Stanley agrees.

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Fed Model's Broken Hockey Stick: Ignores Mortgages Crashing, Junk Bonds Soaring

There was nothing surprising in Federal Reserve Chairman Janet Yellen’s press conference yesterday. While some “investors” may have been shocked about where policy was headed, some parts of the credit markets have been anticipating this course right along (more on that later). Whatever may be expectations for QE and “forward guidance”, the FOMC is using [...]

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Tracking Our Trickle-Down Economy

The trend of improvement in job losses has gradually slowed over the past two years but stock prices have continued to spiral higher.

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The Sanctions Gong Show

Today, the US imposed more meaningless sanctions on Russia. Of course Russia responded in kind. In Europe, where far more is to be lost than gained from sanctions, bickering amongst suggests no meaningful escalations in sanctions.

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