by Phoenix Capital Research
We are now seeing clear signs that the US is moving back towards a recessionary territory.
The first quarter US GDP data showed the US economy growing at an annualized rate of just 2.5% (3.0% was expected).
The only reason growth was even this high was because the Government understated inflation, recording a GDP deflator of 1.2%. This is bizarre given that the “official” inflation data point, the Consumer Price [...]
Bank lobbyists are not leaving it to lawmakers to draft legislation that softens financial regulations. Instead, the lobbyists are helping to write it themselves.
One bill that sailed through the House Financial Services Committee this month — over the objections of the Treasury Department — was essentially Citigroup’s, according to e-mails reviewed by The New York Times. The bill would exempt broad swathes of trades from new regulation.
In a sign of [...]
Rep. Steve Pearce questions Treasury Secretary Jack Lew in front of the Financial Services Committee on Wednesday, May 22nd, 2013.
Analysis: Markets face rough summer ride as Fed pullback feared
For the past few months, the Federal Reserve has been squarely in the financial markets‘ corner, thanks to its massive dollops of monetary stimulus. But signs that the central bank is discussing reducing that support by purchasing fewer bondsmean that trading is likely to get bumpier in coming months.
Bernanke out by August, QE ends, rates up: Crash
Prepare now because easy money will dry [...]
‘Restoring liberty in America is not only possible, but already underway’
Sheriffs and peace officers from across the country will be meeting with likeminded supporters for a national convention focused on one goal: restoring constitutional rule in the United States of America.
From May 31-June 1, the Constitutional Sheriffs and Peace Officers Association, or CSPOA, will be meeting in St. Charles, Mo., for its Heartland of America Conference.
The purpose of the conference [...]
Remember: Japan was using almost 25% of their tax revenue to service their national debt before this spike started. They are in a debt trap and the noose is tightening. Rapidly.
Japan Govt Bond Year to maturity 10 Year Simple Yield
THE ECONOMIC COLLAPSE OF JAPAN IS NOW IN PROGRESS – ALL THE ELEMENTS ARE IN PLACE FOR A DEBT CRISIS
Japan’s bond market is officially losing control.
We have definitely taken out the multi-year trendline [...]
by Michael Noonan
We cannot control the markets, but we can control how to respond to what they are saying. The paper market has been turned into a circus, thanks to JP Morgan, and abetted by the exchanges, COMEX and LME. Focus has to remain on the physical market, for it is where one can expect to find true value for price. What everyone has learned is that as price has declined, [...]
from The Victory Report:
Greece’s infamous new drug, sisa, is basically meth and filler ingredients like battery acid, engine oil, shampoo, and cooking salt. The majority of its users are poor, often homeless, city dwellers reeling from the psychological and physical impacts of a country in the grip of economic collapse.
Dirty Laundry, Golden Money – Darryl Robert Schoon
Everything you need to know that the media is not telling you…
Stefan Molyneux, host of Freedomain Radio – and winner of the 2012 Liberty Inspiration Award – breaks down the unspoken facts about the end of freedom, opportunity and trade in the modern United States. There will be no economic recovery, prepare yourself accordingly.
As the market panic demonstrates, central banks are stuck on a treadmill of money printing
Oh what a tangled web central bankers weave when they practice to deceive… Last night’s panic in Tokyo, where the Nikkei dropped a stomach churning 7 per cent, demonstrates just how difficult it’s going to be for the world’s central banks to exit their loose money policies.
It’s not even as if Ben Bernanke, chairman of the [...]
This is on CNN, no less:
Stocks have had a stellar year so far. In fact, the rally has gotten so heated that some investors are making bets on a big crash.
Universa Investments, which spends hundreds of millions of dollars a year buying crash protection, has attracted a record amount of money into its fund this quarter.
“People are starting to recognize that these market moves are unnatural and distorted,” said Universa [...]
by Phoenix Capital Research
Japan’s Nikkei, after rallying over 70% since November, just collapsed 11% in less than two days. Looking at the chart, it’s pretty clear where this thing is heading: the same as the NASDAQ in 2000.
This is the problem with economic policy that focuses on pushing stocks higher: eventually the collapsing economy comes home to roost and stocks implode. We saw this in 2000 and 2008. We’re currently [...]
Jim Rickerts View.
Stock market returns are high because of buy-backs. The shares are retired, the company does not have to pay out dividends and the yield goes up.
We are in a liquidity trap. No-one is embracing stocks, they are choosing to save.
Gold is not down. The dollar is up.
And more in this Keyser report with guest Jim Rickerts.
A liquidity trap is a situation described in Keynesian economics in which injections of cash into [...]
Wow, it took over one day before the Fed came out to do damage control on Bernanke’s Congressional double speak Wednesday that set the markets on a correction.
Fed’s Bullard Wants Faster Inflation Before Tapering QE
“Before I am in favor of tapering I would like to see some assurance that inflation is going to move back towards target,” he said.
U.S inflation fell to a two-year low of 1.1 percent earlier this [...]
Abby Martin talks to Dr. John Trumpbour, research director at Harvard Law School’s labor and work life program, about the theory of the clash of civilizations, the idea that a culture or war is inevitable and inherent in the relationship between the East and West; Hollywood’s homogenization of US culture and Harvard’s perpetuation of the ruling class.
by Charles Hugh-Smith
About the claim that central banks will never let asset bubbles pop ever again–their track record of permanently inflating asset bubbles leaves much to be desired.
The problem with trying to solve all our structural problems by injecting “free money” liquidity into financial Elites is that all the money sloshing around seeks a high-yield home, and in doing so it inflates bubbles that inevitably pop with devastating consequences.
As noted [...]
Today’s AM fix was USD 1,385.25, EUR 1,068.95 and GBP 917.81 per ounce.
Yesterday’s AM fix was USD 1,386.00, EUR 1,074.92 and GBP 919.16 per ounce.
Gold climbed $24.80 or 1.78% yesterday to $1,392.00/oz and silver finished up 0.16%.
After a volatile and momentous week for global markets, gold and silver look set to finish higher in all currencies and have their best week in a month.
Cross Currency Table – (Bloomberg)
Holdings in [...]
The interviewer’s talking about how Obama’s term will be up in 2016 so its the beginning of the end for him. Maxine Waters says “Well, I don’t know about that…
“The president has put together an organization with data the likes of which we’ve never seen before,,,” And goes on to talk about how powerful that information is…
Its only 1 1/2 min long but what she says outright and what she [...]
Whole Foods Market announced today at Natural Products Expo West that, by 2018, all products in its U.S. and Canadian stores1 must be labeled to indicate whether they contain genetically modified organisms (GMOs)2. Whole Foods Market is the first national grocery chain to set a deadline for full GMO transparency.
ALERT!… USDA Forces Whole Foods To Accept Monsanto!
In the wake of a 12-year battle to keep Monsanto’s Genetically Engineered (GE) [...]
Bass On Japan’s Turbo QE: “It Won’t Be Enough”
If JGB investors ‘believe’ as Richard Koo earlier noted, in the BoJ’s new actions and Abenomics (to double the monetary base and generate inflation), then, Kyle Bass explains, a rational investor is likely to sell a portion if not all of them. The BoJ only has JPY10 trillion cushion (after the JPY60 trillion deficit) to soak up this ‘rational investor paradox’ selling and this [...]
The best kept secrets of the Dollar. Is the whole US economy a farce?
The footage obtained by the Daily Mirror reveals how, after beheading the soldier, they hatched a plot to ambush and murder the first police officers to come to his aid
Woolwich attack: Watch shocking video of suspect with bloodied hands wielding knives issue warning
The video, obtained by ITV News, shows a bloodied man after the brutal attack in the street
mirror.co.uk (1 day ago)
Police appeal for calm after Woolwich machete attack
Metropolitan Police [...]
Two freight trains collided at a rail intersection in Missouri on Saturday, triggering the collapse of a highway overpass when several rail cars derailed and struck a support pillar, a county sheriff’s dispatcher said.
Seven people were hurt, including five in cars on the two-lane overpass near southeastern Missouri town of Chaffee and the conductors of the two trains, Scott County Sheriff’s dispatcher Clay Slipis said.
“One train T-boned the other one [...]
Breaking : A french military in vigipirate plan patrol in the defense area near #Paris attacked by knife by an unknown – #terrorism #France
Report: French soldier patrolling western Paris stabbed in the neck by a man who quickly fled the scene, police source says - @Reuters
A soldier stabbed in the throat in the district of La Défense
The abuser is trailing him. Police described him as a man of North African type, [...]
A host of the Fox News show The Five was so angry that the Justice Department had investigated one of the network’s reporters that she told her viewers on Thursday to find anyone who voted for President Barack Obama and “punch them in the face.”
“Fox said, we’re targets, clearly Media Matters and others have put us on a target list,” Fox News host Andrea Tantaros explained on the Thursday edition [...]
MIAMI BEACH, Fla. -
A luxury boutique hotel in South Beach is helping Miami Beach police officers, who are working longer shifts this weekend because of Urban Beach Weekend.
The Illinois Ag Dept. illegally seized privately owned bees from renowned naturalist, Terrence Ingram, without providing him with a search warrant and before the court hearing on the matter, reports Prairie Advocate News.
Behind the obvious violations of his Constitutional rights is Monsanto. Ingram was researching Roundup’s effects on bees, which he’s raised for 58 years. “They ruined 15 years of my research,” he told Prairie Advocate, by stealing most of [...]
The good news from this week’s rail traffic report is that we’re not sliding into consistently negative readings that might lead us to a far less constructive position on the economy. The bad news is that the 12 week moving average has slid down to 2.4% and is consistent with an economy that remains sluggish.
Here are the details on this week’s data from AAR:
“The Association of American Railroads (AAR) reported an [...]
Informations came from russian FSB same who told US about Boston bombings before. CL finals with two german teams in about 8 hours. Many public viewing events all over Germany. Increased security measures, especially in Berlin, Dortmund and Munich are pure precautions, says police sources.
A football feast to celebrate evening many visitors to Germany fan miles today. The joy is now clouded in advance. The BKA clearly warns of Islamist [...]
New Computer Attacks Traced to Iran, Officials Say
By NICOLE PERLROTH and DAVID E. SANGER
Published: May 24, 2013
“SAN FRANCISCO — American officials and corporate security experts examining a new wave of potentially destructive computer attacks striking American corporations, especially energy firms, say they have tracked the attacks back to Iran.
The targets have included several American oil, gas and electricity companies, which government officials have refused to identify. The goal is not [...]
Target’s own-brand sunscreen costing under $7, has been ranked number one in a study investigating the most effective sun protection products on the market.
Researchers from the ratings site Consumer Reports tested 12 popular SPF lotions on their ability to block harmful ultraviolet radiation, considered the main cause of skin cancer.
Target’s spray-on Up & Up Sport SPF 50 priced at $6.94, scored 80 out of 100 beating pricier, better-known brands such as Hawaiian Tropic, Neutrogena and Coppertone.
SIX MOST EFFECTIVE SUNSCREENS
Target: Up & Up [...]
Abercrombie and Fitch’s first-quarter sales fell by 17 percent
Abercrombie and Fitch CEO Mike jeffries; ‘Candidly, we go after the cool kids. We go after the attractive all-American kid with a great attitude and a lot of friends. A lot of people don’t belong [in our clothes], and they can’t belong. Are we exclusionary? Absolutely.’
A Change.org petition calling for the retailer to ‘stop telling teens they aren’t beautiful; make clothes for [...]
Bad news, diet coke junkies: gulping down excessive amounts of soda is no longer just bad for your teeth, now it’s as bad for your teeth as crystal meth or crack.
That’s according to one study, anyway, which found that excessive consumption of soda – even diet soda – can rot your choppers as badly as ingesting two of the most dangerous narcotics on earth.
The good news is it likely takes [...]
By Mike “Mish” Shedlock
Via google translate from Corriere Della Sera, Beppe Grillo is in favor of a “Referendum on the Euro Within a year”
“Europe needs to be rethought. We consider just one year of information and then hold a referendum to say yes or no to the euro and yes or no to Europe. ” Beppe Grillo to ride a strong theme of the last election campaign the 5 Star Movement. “Europe [...]
Hyper Report – Corporate Owned Senate
(May 24, 2013) – Katie Pavlich on IRS’s Lois Lerner Going on Admin. Leave Amid Scandal
The fall of the British empire shows just how fast the tables can turn.
Yet another development today in the case of James Rosen, the Fox News reporter who was monitored by the Justice Dept. after receiving classified information from a State Department security adviser.
According to The New Yorker’s Ryan Lizza, the Obama administration fought to keep the search warrant for Rosen’s private e-mail account secret on the grounds that they might need to monitor the account for a long period of time.
As a severe recession and unprecedented unemployment sweeps Italy, millions of people are struggling to make ends meet. The number of those receiving food assistance has doubled in the past two years, according to a government report.
The data comes from national statistics institute ISTAT, which published an annual report demonstrating, among other issues, that Italy is witnessing youth unemployment of nearly 40 percent – the highest in Europe.
A reported 23.9 [...]
The Weather Channel‏@weatherchannel5 min
Major flash #flood event ongoing in San Antonio. Already nearing 8″ of rain since midnight. High water rescues.
BULLETIN – EAS ACTIVATION REQUESTED
FLASH FLOOD WARNING
NATIONAL WEATHER SERVICE AUSTIN/SAN ANTONIO TX
606 AM CDT SAT MAY 25 2013
THE NATIONAL WEATHER SERVICE IN AUSTIN SAN ANTONIO HAS ISSUED A
* FLASH FLOOD WARNING FOR…
* UNTIL 900 AM CDT.
* AT 605 AM CDT…NATIONAL WEATHER SERVICE METEOROLOGISTS HAVE
DETERMINED THAT RAINFALL ESTIMATES FROM DOPPLER [...]
Google is developing plans to build its own wireless network in emerging markets, Amir Efrati at The Wall Street Journal reports.
Google has developed its own wireless technology, which it hopes to deploy with local companies in Southeast Asia, and sub-Saharan Africa. Efrati says Google plans to provide wireless access to a billion people who are currently without Internet.
Google wants to use airwaves previously reserved for TV companies for its network. It’s [...]
In yet another showing of their lack of concern towards the people who give them their jobs, Senators in Washington D.C. voted against a key GMO labeling amendment to the Farm bill. One that would have allowed states to decide to label the presence of genetically modified ingredients in food products.
They didn’t just vote it down, they did it overwhelmingly: 71 to 27. Let’s be clear—this wasn’t a bill that would have mandated the [...]
As Americans prepare for Memorial Day—the official kickoff to a summer grilling season of burgers and T-bones—rising beef prices have some consumers balking in the grocery aisles.
Retail beef prices are widely expected to set new records in coming weeks after wholesale prices, or the amount meatpackers charge sellers for beef, hit an all-time peak this past week.
After achieving new highs for three weeks, choice-grade beef, the most common variety in [...]
Hungary has taken a bold stand against biotech giant Monsanto and genetic modification by destroying 1000 acres of maize found to have been grown with genetically modified seeds, according to Hungary deputy state secretary of the Ministry of Rural Development Lajos Bognar. Unlike many European Union countries, Hungary is a nation where genetically modified (GM) seeds are banned. In a similar stance against GM ingredients, Peru has also passed a [...]