How To Start A War And Lose An Empire — Dmitry Orlov

Copyright .© Paul Craig Roberts 2014.- Please contact us for information on syndication rights. This site offers factual information and viewpoints that might be useful in arriving at an understanding of the events of our time. We believe that the information comes from reliable sources, but cannot guarantee the information to be free of mistakes and incorrect interpretations. IPE has no official position on any issue and does not necessarily endorse the statements of any contributor. ... view article.

Greg Hunter of USA Watchdog interviews PCR on Russia, ISIS, the Dollar, the Media, and America’s future

Copyright .© Paul Craig Roberts 2014.- Please contact us for information on syndication rights. This site offers factual information and viewpoints that might be useful in arriving at an understanding of the events of our time. We believe that the information comes from reliable sources, but cannot guarantee the information to be free of mistakes and incorrect interpretations. IPE has no official position on any issue and does not necessarily endorse the statements of any contributor. ... view article.

The Canary In Big Blue’s Mainframe: Why IBM’s Q3 Bust Marks A Turning Point

IBM has long been a poster boy for the untoward effects of central bank financial repression. For most of this century the once and faded king of tech has been in a modality of slow liquidation, leveraging up its balance sheet with cheap debt to fund stock buybacks, dividends and accounting-driven two-bit M&A deals. This morning that destructive strategy—–pursued by two incompetent CEOs in a row—–came to a thundering crash.  IBM is now down by 7% and deserves to go far lower. Perha ... view article.

Quote of the Day from K.K.R. – Wall Street Officially Becomes a Parody of Itself

Longtime readers of Liberty Blitzkrieg will know that I think the greatest parody of Wall Street ever created is courtesy of SNL about a made-up firm called Global Century Investments. Before I provide a link to the video, I want to highlight a stunning quote from Gretchen Morgenson’s excellent New York Times article detailing the extraordinarily shady relationships between private equity firms and public pension funds. The quote comes in at the end of the article: Kristi Huller, a spokeswoman for K.K.R., initially denied that i ... view article.

Falling Energy Prices: Good News and Bad News

By Sober Look The recent correction in the price of crude oil should have an immediate positive impact on the US consumer as well as on a number of business sectors. However there also may be a significant economic downside to this adjustment. Here are some facts to consider. 1. The good: The US consumer is not only about to benefit from materially lower gasoline prices (see chart), but also from cheaper heating oil. Source: barchart With wages suppressed, the savings could be quite impactful, particularly for families with in ... view article.

It’s Not Just Spying – How the NSA Has Turned Into a Giant Profit Center for Corrupt Insiders

So Americans aren’t entitled to any privacy because of a trumped up terrorist threat, yet top NSA employees can moonlight for private businesses involved in the same areas as the NSA with apparently no threat to national security. America has gone completely insane. Unsurprisingly, this is just the tip of the crony-capitalist fraud that the NSA has become. In fact, Buzzfeed broke a related story recently. It reports how one of the most powerful individuals at the NSA, Teresa H. Shea., has several intelligence related busin ... view article.

What Is The Fear Index Telling Us Now?

By Michael Lombardi, MBA for Profit Confidential Over the past few months, I warned my readers the stock market had become a risky place to be. While I also suggested euphoria could bring the market higher than most thought possible—to the point of irrationality—the bubble has now burst. Key stock indices are falling and fear among investors is rising quickly. Please look at the chart below of the Chicago Board Options Exchange (CBOE) Volatility Index (VIX). This index is often referred to as the “fea ... view article.
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Iron Ore, China, Australia and the Euro Zone

After last week’s tumultuous markets one of my clients sent me an email saying “I am so relieved your constant talk about worsening imbalances kept us from getting too complacent. Things really are as bad as you keep saying.” I am not sure that what happened last week is proof of anything I’ve been saying, but I do think that the framework I have used over the past decade has been useful, at least to me, in understanding both the rebalancing process in China and the events that led up to the global crisis of 2007-08. An ... view article.

Yellen’s Clueless Comments On Inequality—-Let Them Eat 401Ks

Reposted From ECRI According to the Fed’s triennial Survey of Consumer Finances, the top 10% of U.S. families are doing just fine, and those in the bottom fifth are essentially being kept afloat by transfer payments; but the inflation-adjusted median family income has shrunk by one-eighth since 2004. Quite simply, middle-class incomes are being gutted.[C]iting that same survey, Ms. Yellen expressed concern about “lower-income families without assets” that “can end up, very suddenly, off the road.” She therefore ad ... view article.

Friends Of Liberty Alert: Secy Robert Reich And Senator McCain Join In Universal Servitude Plan

Former Clinton Administration Labor Secretary Robert Reich recently called on the government to force young people to spend two years either “serving” in the military or performing some other type of government-directed “community service.” Neoconservative Senator John McCain has introduced legislation creating a mandatory national service program very similar to Reich’s proposal. It is not […] Former Clinton Administration Labor Secretary Robert Reich recently called on the government to force young people ... view article.

The Failing State Next Door: The War On Drugs And Civil Order In Mexico

Every time they find a mass grave, they think it’s the one they’re looking for – but it isn’t. No, this isn’t a Halloween tale: it’s a real life story about 43 missing Mexican students who once attended the Escuela Normal Rural Isidro Burgos, a small teachers’ college in the southern state of Guerrero. The rural, desperately poor region – long plagued by violence, armed rebellion, and criminal activity – is now at the center of a drama that underscores the dawning truth about our neighbor t ... view article.

Monetary Metals Supply and Demand Report: 19 Oct, 2014

We want to share a thought that has been implicit in many statements in this Report over the last two years. There is no direct or linear connection between the price of gold (or silver) and what we see reported as macroeconomic data, gold mining data, Indian or Chinese imports, jewelry, etc. By the official… This content is for The Last Contango – Free Membership members only. Please login to view this content. (Register here.) ... view article.

Do We Need a Lender of Last Resort?

Scotland’s vote for independence resulted in a negative. There won’t be, for now, further discussions about what Scotland should do with its monetary institutions. Still, there is one more issue that I would like to discuss, because it transcends the particular case of Scotland, had independence been the result of the vote. There is a widespread belief that a sound banking system requires a central bank to act as a lender of last resort. In a nutshell, the argument goes as follows: there are inherent potential instabilities in t ... view article.

Challenge to Keynesians “Prove Rising Prices Provide an Overall Economic Benefit”

The ECB has been concerned about falling consumer prices. I propose that’s 100% stupid, yet that’s the concern. When the euro declined vs. the US dollar, the ECB was happy that inflation would inch back up. The fear now is that falling oil prices will take away the alleged gain of a falling euro. With that backdrop, credit the Financial Times for the absurd headline of the week: Eurozone Fails to Benefit from Weak Currency as Oil Price Slides. Pity the policy makers given the job of rescuing the eurozone from deflation. The unorth ... view article.
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Beyond the Volatility

If the volatility we’ve been experiencing as of late feels like a splash of cold water, it’s likely because it’s been a while since we’ve really experienced it. An extended stretch of calm waters preceded the U.S. market’s recent bout of volatility. I’m going to share with you some updated numbers from what we crunched for last week’s AAII Dividend Investing update to put things in perspective. We use the iShares Dow Jones U.S. Index ETF (IYY) as the benchmark for both our DI and for our Stoc ... view article.

Top Scientist: This Version Of Ebola Looks Like ‘A Very Different Bug’

Barack Obama and the head of the CDC need to quit saying that we know exactly how Ebola spreads.  Because the truth is that there is much about this virus that we simply do not know.  For example, a top Ebola scientist that is working in the heart of the outbreak in Liberia says that this version of Ebola looks like it could be “a very different bug” from past versions.  Other leading scientists are echoing his concerns.  And yet Barack Obama and Thomas Frieden continue to publicly proclaim that we know precise ... view article.

Nonperforming Spanish Loans Near All-Time High as Overall Credit Shrinks

Huky Guru posted a couple of interesting charts on his blog today about shrinking credit but rising percentage of nonperforming Spanish bank loans: NPLs of banks rebounded to 16.59%. Seven points higher than in the 1994 crisis. Spanish Bank Shrinking Credit Nonperforming Loans The “real” numbers are normalized to account for a change in methodology.  Today’s number is just off the all-Time high of 16.73 percent in January of 2014. The “official” high was 13.62% in December of 2013. Both sets of numbers are ... view article.

Wealth Inequality Is Not A Problem, It’s A Symptom

by Raúl Ilargi Meijer at The Automatic Earth A comment on an article that comments on a book. I don’t think either provides, for the topic they deal with, the depth it needs and deserves. Not so much a criticism, more a ‘look further, keep digging, and ye shall find more’. And since the topic in question is perhaps the most defining one of our day and age, it seems worth it to me to try and explain. The article in question is Charles Hugh Smith’s Why Nations (and organizations) Fail: Self-Serving Elites, and ... view article.

Central Bank’s Easy Money: Mirage or Oasis for Financial Markets?

By Fabio Cortes, David Jones and Evan Papageorgiou via iMFDirect  Low interest rates and other central bank policies in the United States have sent investors looking for higher returns on their investments. Money is pouring into mutual funds and exchange-traded funds, which is fueling a mispricing of credit and a build-up of risks to liquidity in the markets—the ability to trade in assets of any size, at any time, and to find a ready buyer. Mutual funds and exchange-trade funds are the largest owners of ... view article.

PCR interview RT BoomBu$t on the revolving door

Copyright .© Paul Craig Roberts 2014.- Please contact us for information on syndication rights. This site offers factual information and viewpoints that might be useful in arriving at an understanding of the events of our time. We believe that the information comes from reliable sources, but cannot guarantee the information to be free of mistakes and incorrect interpretations. IPE has no official position on any issue and does not necessarily endorse the statements of any contributor. ... view article.
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