• Category Archives Government
  • “They’re Going Thermonuclear”: Breitbart Declares “War” On The White House

    The love affair between Breitbart, whose former head Steve Bannon was just fired by Donald Trump, just turned to hate, as confirmed by Joel Pollak, a Breitbart Editor, who moments ago tweeted one word:
    — Joel B. Pollak (@joelpollak) August 18, 2017

    As Axios’ Jonathan Swan explains, “Joel is a Breitbart editor. They’re going thermonuclear, I’m told. ”
    Joel is a Breitbart editor. They're going thermonuclear, I'm told. Story tk on Axios. — Jonathan Swan (@jonathanvswan) August 18, 2017

    This post was published at Zero Hedge on Aug 18, 2017.

  • Do Seasonal Adjustments Help Identify Business Cycles?

    Various statistics that governments produce on a regular basis carry the label “seasonally adjusted”. What is the meaning of this label? According to popular thinking the data that is observed over time (labelled as time series) is determined by four factors, which are:
    The trend factor The cyclical factor The seasonal factor The irregular factor It is accepted that the trend determines the general direction of the data over time, while the cyclical factor causes movements that are related to the business cycle. The influence of seasons like winter, spring, summer and autumn and various holidays is conveyed by the seasonal factor. The irregular factor depicts the effect of various irregular events. It is held that the interplay of these four factors generates the final data.
    Popular thinking regards the cyclical influence as the most important part of the data. It is held that the isolation of this influence would enable the analysts to unravel the mystery of the business cycle. Moreover, to pre-empt the negative effect of the business cycle on people’s well being it is important to observe the influence of the cyclical factor on as short a duration basis as possible. Like any disease the earlier it is detected the better are the chances of combating the disease. Once the central bank has identified the size of the cyclical influence it could offset this influence by means of a suitable monetary policy, so it is held.

    This post was published at Ludwig von Mises Institute on August 16, 2017.

  • Drudge, NYT: Bannon Out

    Bannon had one hell of a run…
    — MATT DRUDGE (@DRUDGE) August 18, 2017

    As the Post writes, while Bannon had been on the outs with Trump before, the president suspected Bannon was one of the main leakers in the administration, trashing his colleagues in the press.
    The notoriously thin-skinned president also resented the publicity Bannon had been getting as the supposed mastermind of Trump’s campaign and upset victory. One White House source told Axios, ‘His departure may seem turbulent in the media, but inside it will be very smooth. He has no projects or responsibilities to hand off.’
    Bannon in recent days gave interviews to publications including the New York Times in which he defended Trump’s controversial comments in the wake of the racial violence in Charlottesville, Va., last weekend.
    Speaking to the Post, a source close to Bannon added: ‘This week is a good window into what Bannon outside the [White House] would look like: A strong defense of POTUS and ‘fire and fury’ for enemies of the Trump agenda. Get ready for Bannon the barbarian.’

    This post was published at Zero Hedge by Tyler Durden . Aug 18, 2017.

  • The Last Frontier For Gun Control: Washington Court Rules In Favor Of Seattle’s ‘Gun Violence’ Tax

    Two years ago, the president of the Seattle City Council offered a rather ludicrous proposition. He wanted Seattle to place a new tax on the sale of firearms and ammunition within the city limits. Ammo would cost an additional 2-5 cents per round, and a firearm would cost an extra $25. But what was even more absurd than the tax itself, is what the money would be going toward. The tax was supposed to pay for gun violence prevention programs and research.
    The way City Council President Tim Burgess explained it, this ‘gun violence’ tax would help offset the costs the city pays to treat gunshot victims. Essentially, it was a tax levied on responsible law abiding gun owners, to pay for the actions of violent criminals.
    Despite how utterly stupid that sounds, the proposal passed. However, it didn’t have the desired effect. To the surprise of no one who actually understands the relationship between private firearm ownership and crime rates, the violent crime rate in Seattle has dramatically increased since the tax was put in place. It also brought in only a small fraction of the revenue that the city council was expecting. In short, the tax was a total failure.
    So it’s no surprise that the tax has faced a lawsuit over the fact that Washington has a law that prevents municipalities from regulating firearms. Unfortunately, the Washington Supreme Court recently ruled against the lawsuit on the grounds that taxes aren’t the same as regulations, and cities are well within their right to levy sales taxes.

    This post was published at shtfplan on August 17th, 2017.

  • “It Is A Battle Between Data And Theory” – Fed PhDs Second-Guess Inflation Model After 5 Years Of Failure

    Federal Reserve officials are finally waking up to the fact that there’s something wrong with their inflation models. It only took them five years.
    As Bloomberg points out, the minutes from the Fed’s July policy meeting, released yesterday, included a debate about whether the models that help the central bank set its inflation target are no longer functioning properly.
    ‘Federal Reserve officials are looking under the hood of their most basic inflation models and starting to ask if something is wrong.
    Minutes from the July 25-26 Federal Open Market Committee meeting showed a revealing debate over why the economy isn’t producing more inflation in a time of easy financial conditions, tight labor markets and solid economic growth.
    The central bank has missed its 2 percent price goal for most of the past five years. Still, a majority of FOMC participants favor further rate increases. The July minutes showed an intensifying debate over whether that is the right policy response.’

    This post was published at Zero Hedge on Aug 17, 2017.

  • Rickards Exposes The Elite’s Plan To Freeze The Financial System

    Today’s complacent markets are faced with a number of potentially destabilizing shocks.
    Any one of them could potentially lead to another financial crisis. And the next crisis could see draconian measures by governments that most people are not prepared for today.
    You’ll see what I mean in a moment.

    This post was published at Zero Hedge on Aug 17, 2017.

  • ‘Deep’ Subprime Car Loan Delinquencies Highest Since 2007 (As Auto Dealer Offers Bad FICO Rebate!)

    It was bound to happen, despite Dodd-Frank legislation and the creation of the Consumer Financial Protection Bureau following the financial crisis.
    (Bloomberg) – Amid all the reflection on the 10-year anniversary of the start of the subprime loan crisis, here’s a throwback that investors could probably do without.
    There’s a section of the auto-loan market – known in industry parlance as deep subprime – where delinquency rates have ticked up to levels last seen in 2007, according to data compiled by credit reporting bureau Equifax.
    ‘Performance of recent deep subprime vintages is awful,’ Equifax said in a slide show on second-quarter credit trends.

    This post was published at Wall Street Examiner by Anthony B Sanders ‘ August 17, 2017.

  • Will EVs Break The Grid?

    While the UK government has vowed to end the sale of all new conventional gasoline and diesel cars by 2040, as part of a wider plan to fight air pollution, there is talk that electricity demand will lead to a fast and dirty response to a strained power grid.
    But here’s what everyone’s missing in that debate: While EV sales are going to rise and electricity demand to power them will strain the grid and lead to less-than-ideal power generation solutions, the whole plan will help clean power generation to increase its market share.
    Nothing is black and white. And big transformations are never immediate. We’re not talking about an overnight elixir that will magically clean up the air; we’re talking about a step-by-step process that is gradually less dirty.

    This post was published at Zero Hedge on Aug 17, 2017.

  • The Dow Falls 274 Points As ‘Eclipse Fever’ Hits The Financial Markets

    Have we now entered a time of major financial shaking? On Thursday, the Dow Jones Industrial Average was down 274 points. The was the largest decline for the Dow since May, and high yield bonds were down dramatically as well. Many are blaming the terror attack in Barcelona and ‘instability in the White House’ for the downturn, but could ‘eclipse fever’ also be a factor? The closer that we get to the solar eclipse on August 21st, the weirder people seem to be getting. You will see what I am talking about below.
    But first let’s talk about the financial markets. I have been warning that stocks are massively overvalued for quite a while now, and it turns out that the Federal Reserve very much agrees with me…
    ‘Since the April assessment, vulnerabilities associated with asset valuation pressures had edged up from notable to elevated, as asset prices remained high or climbed further, risk spreads narrowed, and expected and actual volatility remained muted in a range of financial markets.’
    Even the Fed is warning that we are in a bubble, and it is just a matter of time until that bubble bursts.

    This post was published at The Economic Collapse Blog on August 17th, 2017.

  • So When Will China’s Debt Bubble Finally Blow Up?

    The upside is fake stability. The downside is too ugly to contemplate.
    Corporate debt in China has soared to $18 trillion, or 169% of GDP, the largest pile of corporate debt in the world, according to the worried Bank for International Settlements. The OECD has warned about it earlier this year. The New York Fed warned about this debt boom in February and that it could lead to a ‘financial crisis,’ but that authorities have many tools to control it.
    The IMF regularly warns about China’s corporate debt, broken-record-like, and did so again a few days ago, lambasting the authorities for their reluctance to tamp down on the growth of debt. The ‘current trajectory,’ it said, ‘could eventually lead to a sharp adjustment.’
    The Chinese authorities – the government and the central bank, supported by the state-owned megabanks – have allowed some bonds to default, rather than bail them out, to make some kind of theoretical point, and they have been working furiously on a balancing act, tamping down on the credit growth that fuels the economy and simultaneously stimulating the economy with more credit to keep the debt bubble from imploding. A misstep could create a global mess.
    ‘Everyone knows there’s a credit problem in China, but I find that people often forget about the scale; it’s important in global terms,’ Charlene Chu told the Financial Times. Back in 2011, when she was still a China banking analyst at Fitch Ratings, she went out on a limb with her radical estimates that there was much more debt than disclosed by the central bank, particularly in the shadow banking system, that banks were concealing risky loans in off-balance-sheet vehicles, and that this soaring opaque debt could have nasty consequences. Her outlandish views at the time have since then become the consensus.

    This post was published at Wolf Street on Aug 17, 2017.

  • Is The Eclipse Nothing More Than A Money-Making Scheme For The Elites?

    There are many conspiracies surrounding the total solar eclipse that will occur on Monday, August 21. Everyone, including scientists, talk like this is a sure thing, but is it?
    Some conspiracy theorists are asking us all to follow the money. And they make a few good points. On August 21, the moon will pass between the Earth and the sun, obscuring the light of our star. The government agency NASA says this will result in ‘one of nature’s most awe-inspiring sights.’ But some say that it’s all just a gigantic conspiracy to make money.
    The Atlantic says ‘something doesn’t add up.’ The astronomers at NASA claim to have calculated down to the minute exactly when and where this will happen, and for how long, and have put out maps detailing the ‘path of totality.’ They have reportedly known about this eclipse for years, just by virtue of some sort of complex math. But they haven’t released the math to the public so we can check the calculations for ourselves.

    This post was published at shtfplan on August 17th, 2017.

  • Gold’s future confiscation is a growing reality, as currency confidence slides! – Part 6

    The subject of gold’s confiscation has come onto our screens again, but this time, being described as a ‘Myth’ in the future. This thought comes from Canada, a favorite place for U. S. citizens to store their gold in the hopes that it will be outside the reach of the U. S. Federal Reserve.
    We respond to the article that described it as a myth, because we are firmly of the opinion that as we move from dollar hegemony to a multi currency, world currencies will find themselves competing against each other [race to the bottom] and increase the prospects for the confiscation of gold held in storage companies and by dealers as well as making such dealing illegal again.
    This makes the confiscation of gold and eventually silver, afuture reality. It is impossible to give a date when this will happen making now a prudent time to act.
    a) Covered in the first part: In this article we will look at the real reasons why the U. S. confiscation took place and its broad objectives as well as the underlying principles behind the confiscation and how they can apply in the future.

    This post was published at GoldSeek on 17 August 2017.

  • Republican Senator Corker Calls For “Radical Change” In The White House

    Tennessee Republican Senator Bob Corker has just unloaded on President Trump as he spoke to reporters…
    “I do think that there do need to be radical changes. The President has not yet been able to demonstrate the stability nor some of the competence that he needs to demonstrates in order to be successful. And we need for him to be successful, our nation needs for him to be successful. It doesn’t matter whether you are republican or democrat. We need for our president, the world needs our president to be successful.”
    “He also has recently not demonstrated that he understands the character of this nation. He has not demonstrated that he understands what makes this nation great and what it is today. He has got to demonstrate the characteristics of a president who understands that.
    And without the things that I just mentioned happening our nation is going to go through great peril.

    This post was published at Zero Hedge on Aug 17, 2017.

  • Gold Seeks Interim High While Household Debt Grows Out Of Control | Golden Rule Radio

    The following video was published by McAlvany Financial on Aug 17, 2017
    Gold seeks an interim high while new reports show that household debt is way out of control. The US Dollar Index decline continues as the FED start speaking out about no further rates hikes in 2017 being a likely outcome. Germany challenges the ECB asset buys and goes to the European Court over it. We recap the price movements of Silver, Platinum, Palladium, The Dow Jones Industrial, S&P 500, NASDAQ, & DOW Transports. What financial indicators are on the horizon? Look no further than the Geopolitical circumstances surrounding the North Korean Nuclear Threat and domestically to Trump’s opposition in Congress & within the Senate. Will infrastructure, tax reform, and budget for the wall come to fruition or will Trump face further roadblocks? Thank you for listening, please submit your questions in the comment section below and subscribe to receive regular weekly updates on the Precious Metals Markets.

  • CHINA, GOLD and the US DOLLAR…

    The Neocon – Zionist drive for world domination is set to be brought to a screeching halt by something as simple as GOLD. This article is not politically motivated – the writer has no political agenda or affiliation – and the motivation for producing it is to enable you to understand the pivotal role that gold will play in thwarting the Empire’s imperialist ambitions, and how this means that the price of gold – and silver – will skyrocket, and sooner than many think possible. When you know that this is set to happen, and you understand the key reasons why, you will be able to position yourself to profit greatly from this profound and seismic global shift.
    First we will consider briefly the ambitions of the Empire and its current situation. Although transnational in scope, the Empire’s main geographical centers of power are the United States, Israel, whose power is out of all proportion to its size, and the old center of power Britain, which serves as the ‘Right Hand Man’ or ‘Number One’. The goals of the Zionist part of the Neocon – Zionist alliance are the creation of a greater Israel, to use their words ‘stretching from the Euphrates to the Nile’, and in pursuit of this goal they have already destroyed a significant part of the Arab world employing a ‘scorched earth’ policy utilizing the US military, which they control, and which is designed to wreck the economies of neighboring Arab States, leading to their subjugation. Their ultimate prize is Iran – once they have overcome Iran, the hugely indulgent and self-important Arab Sheikhs in Saudi will be unceremoniously kicked out of their palaces and probably left to the mercy of the mob, and here we should note that as Israel is a nuclear power with a population of only 8 million, and Iran is a non-nuclear power with approx. 80 million people, the attack would have to go nuclear to succeed. At this point most Arabs will be turned into an army of indentured servants who exist to serve their Masters in the Greater Israel – the only other choice they will have will be to flee to the emerging Caliphate in Europe, where Germans have already become 2nd class citizens in their own country, since immigrants have more protection under law than the indigenous population. From Israel’s point of view it is surrounded by States that are very different from itself, some of whom want its destruction. In this situation any nation would be likely to become paranoid. The ambitions of the Neocon element of the Neocon – Zionist alliance are much more succinctly stated as world domination, pure and simple – the control and exploitation of all the peoples of the world.

    This post was published at Clive Maund on Tuesday, August 15, 2017.

  • The Stock Market Is Confident; Business Leaders, Not So Much

    As the stock market repeatedly set new highs this year, confidence in the President was eroding among the general public. That erosion of confidence now extends to dozens of the top corporate leaders in America.
    There is apparently a new social standard in America. When it was revealed in the final weeks of Trump’s Presidential bid that he had stated on video that he could sexually assault women (‘grab ’em by the p*ssy), it was not a serious impediment for the top executives of the largest corporations in America to continue to pander to Trump, take top posts in his administration and serve on his business advisory councils.
    Even though it is generally accepted that women ‘drive 70-80% of all consumer purchasing, through a combination of their buying power and influence’ the male executives that sit atop the most famous brands in America had no trouble hitching their wagon and their brands to Donald Trump’s chaotic White House.
    Even after Trump’s highly controversial Executive Order on immigration in January, there was only mild whimpering from most of the suits in the corner offices – with a few exceptions. Google co-founder, Sergey Brin, did join protesters at San Francisco International Airport while noting that he was protesting in his personal capacity as a refugee, not in his official Google capacity. Apple CEO Tim Cook and Microsoft CEO Satya Nadella expressed strong objections to the Trump order. Sam Altman, President of Y Combinator, also protested at the San Francisco airport and released a statement on his blog. He wrote that Trump’s ‘precedent of invalidating already-issued visas and green cards should be extremely troubling for immigrants of any country or for anyone who thinks their contributions to the US are important. This is not just a Muslim ban. This is a breach of America’s contract with all the immigrants in the nation.’

    This post was published at Wall Street On Parade on August 17, 2017.

  • Virginia Governor Changes Stance: Confederate Monuments “A Barrier To Progress”

    Virginia Governor Terry McAuliffe (D) has added his name to a growing list of public officials in state governments encouraging the removal of Confederate statues and memorials throughout the South. Late in the day on Wednesday McAuliffe released an official statement saying monuments of Confederate leaders have now become “flashpoints for hatred, division and violence” in a reference to the weekend of violence which shook Charlottesville as white nationalists rallied against the city’s planned removal of a Robert E. Lee statue. McAuliffe further described the monuments as “a barrier to progress” and appealed to state and local governments to take action. The governor said:
    As we attempt to heal and learn from the tragic events in Charlottesville, I encourage Virginia’s localities and the General Assembly – which are vested with the legal authority – to take down these monuments and relocate them to museums or more appropriate settings. I hope we can all now agree that these symbols are a barrier to progress, inclusion and equality in Virginia and, while the decision may not be mine to make, I believe the path forward is clear.
    The statement represents something of a flip flop on the issue for McAuliffe, who has long been on record as generally reluctant to remove Confederate monuments while the issue was being debated in various cities over the past months – he has previously carefully avoided sanctioning any blanket state-wide policy, instead considering it an issue to be decided at the local community level.

    This post was published at Zero Hedge on Aug 17, 2017.

  • Bannon Breaks Silence: Slams “Far-Right Clowns”, Vows “Economic War With China”

    After weeks of speculation about his future, Trump White House Chief Strategist Steve Bannon has broken free of his self-imposed exile, unloading a torrent of Scaramucci-esque comments to none other than Robert Kuttner – the editor of The American Prospect, a progressive publication (the cover lines on whose first two issues after Trump’s election were ‘Resisting Trump’ and ‘Containing Trump.”
    Kuttner sets the surprising scene…
    Trump’s embattled strategist phones me, unbidden, to opine on China, Korea, and his enemies in the administration… Needless to say, I was a little stunned to get an email from Bannon’s assistant midday Tuesday, just as all hell was breaking loose once again about Charlottesville, saying that Bannon wished to meet with me.
    But unload Bannon did:
    He began with China…

    This post was published at Zero Hedge on Aug 16, 2017.

  • Trade Negotiations Begin, The Elite Fire Back With Threats – Episode 1357a

    The following video was published by X22Report on Aug 16, 2017
    Housing recovery has never happened, the central banks having been keeping the illusion ongoing but it is falling apart. US government and the central bank do not want the public to know about the real inflation, why because this would destroy their system. The Fed dropped the hint that the bubble is about pop. The NAFTA negotiations begin and the elite start off with threatening remarks.