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Most read articles
Mish - Global Economic Analysis
85% of Pension Funds to Fail in Three Decades
Bridgewater Associates did an analysis of pension funds recently and concluded 85% of them will fail if returns average 4%. Bridgewater notes that public pensions have just $3 trillion in assets to invest to cover future retirement payments of $10 trillion over the next many decades. It would take an investment return of roughly 9% a year to meet those obligations. With the 30-Year long bond yielding a mere 3.5% and with stock valuation through the roof, I expect negative returns for 7-10 year
Saturday, April 12, 2014
Mish - Global Economic Analysis
France Prohibits Sending Work Emails, Answering Cell Phones, Outside Working Hours
Events in France keep getting sillier and sillier. Wasn't these new Prime minister Manuel Valls supposed to be pro business? So how does nonsense like this happen: France Prohibits Sending Work Emails Outside Working Hours Via translation from La Vanguardia Your boss sends you emails when you've already left work? Will you answer? In France, this is prohibited if the workday is finished. This is stated in an agreement between the two unions, the French Democratic Confederation of Labour (
Monday, April 14, 2014
Rick Ackerman
Only Obama Believes the Debate Is Over 
Like George Bush before him, Barack Obama unfurled a “Mission Accomplished!” banner last week that can only come back to haunt him. To assert, as Obama just did, that the Obamacare debate is settled is to flout hard truths that are negatively impacting the lives of virtually every American each and every day, hitting them literally where they live. Although the overweening arrogance of the man has undoubtedly blinded him to the risks of such hubris, Democrats running for their political lives
Monday, April 14, 2014
James Turk - Goldmoney
James Turk discusses the money bubble - Interviews
The Money Bubble: What To Do Before It Pops is the latest book by James Turk and John Rubino. In their first book The Coming Collapse of the Dollar and How To Profit From It: Make a Fortune by Investing in Gold and Other Hard Assets, the authors questioned the housing bubble and advised the public to buy gold. The Money Bubble goes one step further: rather than addressing discrete asset classes, it deals with the world's major currencies – and the bubble they represent. Turk talks about how the
Friday, April 11, 2014
Mish - Global Economic Analysis
  Ukraine Accord Broken Already; Key Uninvited Group to Peace Party Doesn't Like the Deal; Reflections
Immediately after the 4-player Ukraine accord announcement yesterday (See Ukraine Talks End in Accord; What About the Key Missing Player?) I commented ... Lots of Questions This accord raises more questions than answers. Did anyone consult the separatists? Who is going to enforce the agreement? Is there a single voice, or even a small group of voices who can speak for the separatists? If the separatists are acting on their own, then unless Russia or someone else can convince the separatis
Saturday, April 19, 2014
Jesse - Le Cafe Américain
  His Final Journey: Remembering the 149th Anniversary of the Assassination of Abraham Lincoln 
"Unconscious, Lincoln was carried from Ford's Theatre to the nearby house of Williams Peterson at 453 10th Street. There, in a room rented to William Clark, a boarder, Abraham Lincoln died at 7:22 a.m., April 15, 1865. When Lincoln died Secretary of War Edwin M. Stanton is reported to have uttered, 'Now he belongs to the ages.'" "It is rather for us to be here dedicated to the great task remaining before us — that from these honored dead we take increased devotion to that cause for which t
Tuesday, April 15, 2014
Gordon Long - Market Analytics
Baltic Freight, Shipping Credit and China: Part 1
Bert Dohmen who recently authored "The Coming China Crisis" is now warning about Chinese shipping credit and what he sees in oversea freight rates. He believes there was a major dividing line that was crossed in June 2013 when overnight lending rates abruptly tripled. Though government actions quieted things down on the surface (at least temporarily), below the surface an avalanche of credit issues has ensued. China
Tuesday, April 15, 2014
Mish - Global Economic Analysis
Brussels Tells Spain to Raise VAT Once Again
The nannycrats in Brussels really don't get it. You do not hike taxes in the middle of a depression or coming out of a depression. Yet once again, and for the nth time, that is precisely the recommendation. Via translation from El Confidencial, please consider Brussels Roadmap of Tax Reform Note: This is an extremely choppy Google translation, presented "as is" instead of my customary edits. The document is apparently technical. But has behind it an undoubted political. Not surprisingly, publ
Thursday, April 10, 2014
James West - Midas Letter
Ivory Towers Need Toppling but Google is Watching 
Before I get rolling here, this is not a paranoid unibomber-esque manifesto. These are some political-financial-pilosophical observations that morph gradually into allegorical fable at the end which I elect to deploy in lieu of angry foot stomping both to improve entertainment value and circumvent petulance. So, without further ado: For a country that 238 years ago was established by a bunch of disenfranchised and landless commoners seeking to throw off the shackles of oppression represented by
Thursday, April 17, 2014
Tim Iacono - Iacono Research
Cheapest House in Vancouver Sells for $643K 
Tyler Cowen of Marginal Revolution notoriety points readers to two CBC News stories about the listing of the cheapest house for sale in the Vancouver market at just under $600,000 and its subsequent sale just two weeks later at almost $50,000 more than the sellers asked. From the latter, we learn the following: Vancouver’s cheapest listed single family home attracted large numbers to open houses, with two written offers pushing the final purchase price seven per cent over asking. The house was t
Thursday, April 17, 2014
Mish - Global Economic Analysis
Austerity In Spain? Where? Public Debt Threatens to Exceed 100% of GDP in 2014
EL Pais reports Spanish Public Debt Threatens to Exceed 100% of GDP in 2014 Via translation General government debt accumulated through February was 987.945 billion euros, an amount that represents 96.5% of gross domestic product (GDP). This represents a new record in the amount of money the state, communities, and the municipalities have to return to financial institutions and investment funds. In February alone, the government liabilities increased by 8.130 billion, up 8% from the previous
Thursday, April 17, 2014
Mish - Global Economic Analysis
LA Commission Studies Pension Crisis, Recommends New Commission; Bankruptcy Inevitable 
The Los Angeles 2020 Commission studied amongst other things the sorry state of LA's pension mess. In a case of can-kicking extraordinaire, its recommendation was to appoint another commission to further study the problem. Please consider Report Finds Los Angeles at Risk of Decline A scathing verdict on Los Angeles’s civic health that was delivered in a one-two punch — the second on Wednesday — by a committee of lawyers, developers, labor leaders and former elected officials who make up some
Thursday, April 10, 2014
Jesse - Le Cafe Américain
Pay and Deregulation in the US Financial Industry 
"It is no exaggeration to say that since the 1980s, much of the global financial sector has become criminalised, creating an industry culture that tolerates or even encourages systematic fraud.   The behaviour that caused the mortgage bubble and financial crisis of 2008 was a natural outcome and continuation of this pattern, rather than some kind of economic accident." Charles H. Ferguson “Thus did a handful of rapacious citizens come to control all that was worth controlling in America. Th
Sunday, April 13, 2014
Mish - Global Economic Analysis
French Socialists Revolt Against Prime Minister, Threaten Vote of No Confidence
Further compounding president Francois Hollande's problem with the European Commission Rejection of France's Proposal for Deficit Target Leniency, the socialists are in open revolt against new Prime Minister Manuel Valls. The socialists consider Valls as too pro-business. They want less austerity and a reduction in personal taxes, not corporate taxes. And they are against Hollande's "responsibility pact" proposal that would reduce labor costs and cut government spending. Via translation from L
Sunday, April 06, 2014
Mac Slavo - ShtfPlan
Game Changer: It Will Be Shocking for the Average American: “Your Cost of Living Will Qu 
It’s no secret that the U.S. government is in serious fiscal trouble. So much so that our Treasury Secretary recently noted that should the debt ceiling fail to be increased, the fall-out would be “catastrophic” and last for generations. Given that sobering report, consider that everything in America, from food to fuel, is subsidized in one way or another. Those subsidies are being paid with ever-increasing debt. It is inevitable that at some point the world’s reserve currency, the US dollar, wi
Monday, March 10, 2014
Tim Iacono - Iacono Research
Ukraine Crisis Escalates 
This item at the new and improved Vox website depicts the situation in Ukraine where protests and the takeover of government buildings in the country’s eastern region have reignited the crisis that began over the winter and has been on simmer so far in the spring. As noted in the report, this is how things started in Crimea before that region was annexed by Russia, so, in the words of Jesse Pinkman and Walter Williams, “There’s that.” Here’s the latest via CNN: I wouldn’t mess with that guy
Tuesday, April 08, 2014
Charleston Voice
  ? Russia and China Threaten to Destroy the Almighty Dollar *video* 
Russia Threatens to Drop The Dollar and Crash The U.S. Economy if Sanctions Are Imposed - Obama Signs Sanctions Anyway. Thanks to StormCloudsGathering for compiling the data that was used in this video. Visit his channel and consider subscribing! Is Russia bluffing, or is the world as we know it about to change for ever? On Tuesday Reuters reported that a Kremlin aid Sergei Glazyev had announced
Sunday, March 09, 2014
Mish - Global Economic Analysis
  It's So Cold ... Polar Bears Taken Inside; Hundreds of Students Arrested Protesting Keystone Pipelin 
Seriously misguided students are up in arms over the possible revival of the Keystone Pipeline project from Canada to the US. Their concern is greenhouse gas and global warming. The notion that global warming is caused by man-made greenhouse gasses is questionable enough. The globe has gone through periods of glaciation and melting over hundreds of millions of years. Scientists think they can model changes over a period of hundreds or thousands of years when even 100,000 years may be insuffici
Friday, March 07, 2014
Mish - Global Economic Analysis
Facebook CEO Calls Obama Regarding Out of Control NSA; Change You Can't Believe In 
President Obama promised changes on NSA. Changes, except to the worse, are nowhere to be found. This prompted a call from Facebook CEO straight to president Obama. Please consider Facebook’s Zuckerberg Called Obama on NSA Frustration “The U.S. government should be the champion for the Internet, not a threat,” he wrote in a post on his Facebook page yesterday. “They need to be much more transparent about what they’re doing, or otherwise people will believe the worst.” Zuckerberg’s comments f
Friday, March 14, 2014
Jesse - Le Cafe Américain
Renewed Calls From China For a 'Global Super-Currency' To Replace 'Bretton Woods II' 
They are talking about a 'super-currency' for international trade, and not to replace any currencies for domestic use. I have been reporting on this for quite a few years. It is a movement whose time has come as the US dollar reserve currency falters, and the Fed expands the monetary base for domestic concerns.  You can click on either of the subject headings at the bottom of this blog entry, and all of the past postings with those subjects will be selected for your reading. The major count
Thursday, January 30, 2014
Jesse - Le Cafe Américain
Third World America: 'The Greatest Health Care System In the World' 
“Propaganda serves more to justify ourselves than to convince others; and the more reason we have to feel guilty, the more fervent our propaganda.” Eric Hoffer “It is a far, far better thing to have a firm anchor in nonsense, than to put out on the troubled seas of thought.” John Kenneth Galbraith
Sunday, March 09, 2014
Jesse - Le Cafe Américain
Iron Grip of the Credibility Trap: The Ongoing War On Whistleblowers and Transparency
Sam Seder interviews documentary film maker Robert Greenwald on his 2013 film, War On Whistleblowers. A reader informs me that this documentary is currently available on Netflix streaming. “Often the best source of information about waste, fraud, and abuse in government is an existing government employee committed to public integrity and willing to speak out. Such acts of courage and patriotism, which can sometimes save lives and often save taxpayer dollars, should be encouraged rather than
Tuesday, April 01, 2014
Charleston Voice
England's Levellers: The World's First Libertarian Movement - Roberta A. Modugno
Could you be a libertarian, but not know it? All this time you could have been a believer in your own individual independence, but ran away from it. Only you realize how much better off you might have been. You, too, might agree that you'd have been better off to have labored for yourself than struggle against the mercantilists and their structured impediments to your liberties. For most people, self well-being is much preferred over party loyalty. See how you fit in with this  characterization
Thursday, March 27, 2014
Mac Slavo - ShtfPlan
It’s On: Putin Deploys Troop Battalion: Russians Raise Flag Over Ukranian Republic of Cr
A couple of weeks ago President Barack Obama joined Bob Costas in an interview during the opening ceremonies of the Winter Olympic games being held in Sochi, Russia. The President, who didn’t attend the ceremony or games with other world leaders, chalked off his absence to his busy schedule. Instead, Obama sent a delegation in his stead that consisted of various gay and lesbian members, which was an obvious political move intended to highlight America’s outrage over Russia’s recent anti-gay legi
Tuesday, February 25, 2014
Mark O'Byrne - gold.ie
UK Budget Allows Bank Accounts To Be Raided 
Today’s AM fix was USD 1,286.50, EUR 932.45 and GBP 772.67 per ounce. Yesterday’s AM fix was USD 1,294.00, EUR 939.86 and GBP 777.78 per ounce. Gold fell $9.40 or 0.73% yesterday to $1,283.30/oz. Silver remained unchanged at $19.79/oz.    Webinar: Dr Marc Faber On Gold, Silver and Asset Allocation In An Uncertain World This Friday, April 4th at 0900 BST, Dr Marc Faber will give insights into his strategies for protecting and growing wealth in 2014 and beyond. Register today and don't miss this
Wednesday, April 02, 2014
Jesse - Le Cafe Américain
  Thomas Frank: Pity the Billionaires, Marxism for the Master Class 
“Ayn Rand's 'philosophy' is nearly perfect in its immorality, which makes the size of her audience all the more ominous and symptomatic as we enter a curious new phase in our society....to justify and extol human greed and egotism.” Gore Vidal In light of the recent outcries by billionaire Tom Perkins for fair and loving treatment, I thought it might be interesting to explore the mindset that pictures the doyens of Wall Street, and those who have taken fortunes out of the dot.com and housing
Sunday, February 16, 2014
Charleston Voice
South Carolina House passes legislation 100-0 to ban drones
Posted by Michael Lotfi January 24, 2014 COLUMBIA, S.C., January 24, 2014 – The South Carolina state senate this week is considering a bill to virtually ban the use of drones without a warrant. It recently passed the state house unanimously, with a vote of 100-0. Introduced in early 2013 by Reps. Hamilton (R), Delleney (R), Taylor (R), Putnam (R) and Loftis (R), House bill 3514 (H3514) would prohibit the operation of drones by an agency of the state unless it is “pursuant to a criminal w
Saturday, January 25, 2014
Mish - Global Economic Analysis
  Venezuela Decrees "All Properties Leased for 20 Years Will Be Sold to Tenants in 60 Days at Governme 
Venezuelan president Nicolas Maduro proves once again the capacity for stupidity is virtually unlimited. Today Maduro mandated that any properties leased for 20 years or longer will be sold to current tenants at government mandated prices, essentially confiscating all long-term rental properties. Via translation from Libre Mercado, please consider Venezuela Expropriates Properties Leased More Than 20 Years. Nicolas Maduro, president of the Republic of Venezuela decreed on Monday that propert
Friday, April 04, 2014
Charleston Voice
Death Penalty for Debasing Currency: US Coinage Act of 1792 
Don't kid yourself that it couldn't happen again in this century. The serfs are waking up, and they're MAD as Hell and won't take it anymore. If bankers' heads and those of their government defenders begin appearing on the ends of pikes, you'll know why! As most of you know much of our current law was based on English case law. Hence, this was the Royal Mint's disposition of counterfeiters and forgers. The methods employed for carrying out the death penalty are appropriate even today.: SOLOM
Wednesday, March 12, 2014
Tim Iacono - Iacono Research
  Europe’s Shifting Borders
Since Russia annexed Crimea there have been a number of videos such as the one below about how European and Eastern Asia borders have changed over time, but this is one of the very best of them ( at tip of the hat to Marc to Market). Of course, what’s interesting about this is that Crimea has been part of Russia for the vast majority of the last 300 years. That’s pretty much the case for Ukraine as well, but aside from Russia, there are few (if any) other regions that are quite as Russian as Cr
Tuesday, April 01, 2014

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