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Archive for the ‘Uncategorized’ Category

The False Economic Recovery Narrative Will Die In 2017

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By Tyler Durden

Submitted by Brandon Smith via Alt-Market.com,

Yes, the narrative of the “new normal” has been around for so long now that many people have simply grown used to it. The assumption is that the fiscal “new normal” has become the fiscal “normal,” and though the fundamentals continue to strain under the weight of poor global demand and historic debt levitated by extraneous fiat stimulus, the masses feel far less fear than is warranted. Hey, why should they? We’ve managed around eight years skating on thin ice, why shouldn’t we expect eight more years of the same?

The banking elites have done the job they set out to do, which was to drive the economy to the very edge of the financial cliff, and then keep it suspended there until the general public became comfortable living next door to the abyss.

Why do this? Well, the greater dynamic at play here is something the average person will not understand or refuses to examine — economics today is about mass psychology. The economy is a tool, or a weapon, by which international financiers can influence the public mind and the emotions of the mob. In order to grasp the mechanics of economics it is not enough to deal in statistics and trade principles; one must also grasp human behavior and how it is manipulated. One must acknowledge that in economics we witness the transmutation of societies by word and by force, by chaos and by order. Economics is alchemy.

The globalists (in their twisted view) seek to change lead into gold, and just as in alchemy, these elements are a metaphor for psychological evolution. For the globalists, social engineering is a form of witchcraft; they see it as creation, or a grand form of architecture.

But it is not creation. The globalists are incapable of such art because true art requires wisdom and empathy. All they know is how to deconstruct existing systems generated by nature and free men and rearrange the shattered pieces into something more oppressive and ultimately less interesting than what existed before. Give the internationalists a Mona Lisa and they will shred it, reconstitute it and regurgitate a paint by numbers coloring book.

The globalists only know how to turn gold into lead.

If you do not understand the reality of globalist influence in markets and the nature of economics as a weapon; if you actually believe that the economy operates purely on some kind of free-roaming free market principles, then you will never be able to wrap your head around the otherwise absurd behavior of our financial structure.

The psychology of fiscal “recovery” is a vital tool for change and for developing false dichotomies. For example, I recently came across this article from the pervasive propaganda hub of Bloomberg. In it, Bloomberg outlines a story we are by now very used to hearing from the mainstream — that the presidential era of Barack Obama has left the economy of the U.S. in particular in “far better shape” as he leaves office than …read more

Source: The False Economic Recovery Narrative Will Die In 2017

    

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The Case Against Fed Reform

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By Tyler Durden

Submitted by Tho Bishop via The Mises Institute,

This week the 115th Congress was sworn in, and there are some indications that Fed reform may be on the agenda. The combination of populist anger fueled by Ron Paul’s Presidential campaigns and the 2008 financial crisis coupled with the repeated failings of the Federal Reserve to meet their projections has created a rare window for monetary policy to be both politically advantageous, as well as so obviously needed that even politicians can see it.

The question now is what sort of reform is on the table.

Congressional Reforms

Last Congressional session saw proposals from both the House and the Senate.

From the House we have the FORM Act, which would require the Fed to adopt a monetary policy rule and explain to Congress whenever they deviate from that rule. The FORM Act also calls for an annual GAO audit of the Federal Reserve, doubles the number of times the Fed Chairman testifies before Congress, and makes some other tweaks to the makeup and protocol of the Federal Reserve Board. Since the FORM Act passed the House in 2015, there is a good chance we will see it resurrected in 2017.

On the Senate side, Banking Committee Chairman Richard Shelby has pushed for the Financial Regulatory Improvement Act. Not only does it lack a catchy acronym, but its reforms to the Fed are far more modest than the FORM Act. The meat of the bill focuses on changes to the Fed board. The head of the New York Fed would no longer be appointed the banks board of the directors, but would instead be nominated by the President and confirmed by the Senate – just like the Federal Reserve Chairman. It would also grant powers to the Fed’s regional presidents that currently only reside with the board of directors.

Though early drafts of the Senate bill called for the Fed to adopt rules-based monetary policy, this ended up being stripped from the final proposal due to Democratic opposition – largely because much of the Hill focus has been on the Taylor rule, which many Fed advocates fear is too restricting.

The Battle Over the Taylor Rule

Recently this debate has played out in the pages of the Wall Street Journal with Neel Kashkari and John Taylor exchanging op-eds on the virtues of rules-based policy.

Though Kashkari begins with a broad attack on monetary rules, it quickly devolves into a focused attack on the Taylor Rule which he argues “effectively turn[s] monetary policy over to a computer, rather than continue to let Fed policy makers use their best judgment to consider a wide range of data and economic trends.” Of course Kashkari ignores that the “best judgement” of Fed policy makers has been widely criticized – and not just by Austrians who oppose any sort of Fed policy at all.

Kashkari’s allusion to a computer-guided monetary policy is may be an attempt to get readers to conflate recent monetary …read more

Source: The Case Against Fed Reform

    

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"Depressed" Millennials Are Convinced The Trump Economy Is Going To Implode

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By Tyler Durden

When asked about the economic outlook for America, millennials were the only generation to predict 2017 would be worse than 2016. As Bloomberg reports, the feeling of impending doom wasn’t exclusively reserved for 2017: about a third of millennials surveyed said they don’t think they’ll have enough money to comfortably retire at all.

While the new year marks a fresh start for many, millennials aren’t so optimistic.

In fact, this generation is the only one to say they’re feeling worse, financially, about 2017 than 2016.

As Bloomberg details, in the days following the election, Country Financial Group, an insurance and investment firm, conducted its annual financial security index and found that the score was lowest for millennials, defined as those between 18 and 34 years old, at 60.9 (the highest score is 100).

To determine its score, used a survey that asked over 1,000 Americans questions about their financial stability, like whether they had savings, or if their assets were adequately assured. Independent research firm GfK collected the data. Generation X-ers, (people aged 35 to 49), had a score of 66.6. Boomers (between the ages of 50 to 64) came in at 69.2. The Silent Generation, defined as those over age of 65, had the highest score at 71.2.

As Bloomberg notes, given that the poll was conducted in the days following the election and millennials overwhelmingly supported the losing candidate, these survey results might be swayed by some election-related depression.


…read more

Source: "Depressed" Millennials Are Convinced The Trump Economy Is Going To Implode

    

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City Of Dallas Looks To "Clawback" Ill-Gotten Pension Gains From Police

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By Tyler Durden

Almost exactly one month after taking the unprecedented step of suspending withdrawals from the Dallas Police and Fire Pension (DPFP), the Dallas city council is looking to “clawback” what it views as ill-gotten interest payments made to pensioners to the tune of roughly $1 billion.

Of course, we have followed the epic meltdown of the DPFP closely over the past several months after a series of shady real estate deals brought the fund to, in the words of Dallas Mayor Mike Rawlings, “the verge of collapse” and resulted in an FBI raid of one of the funds largest real estate investors (see “Dallas Cops’ Pension Fund Nears Insolvency In Wake Of Shady Real Estate Deals, FBI Raid“). The discovery of the failed real estate deals led to a “run on the bank” as scared pensioners looked to withdraw as much as possible before the whole ponzi scheme collapsed (see “After A “Run On The Pension Fund” Dallas Mayor Demands Halt Of Withdrawals“). All of which culminated with the unprecedented decision last month to suspend withdrawals (see “In Unprecedented Move, Dallas Pension System Suspends Withdrawals“) after nearly $500mm was removed from police accounts.

Now, according to a local ABC affiliate, the Dallas city council is frantically working with the DPFP board to close a $4 billion funding gap. While the city has agreed to throw an incremental $1 billion of taxpayer money at the problem over the next 30 years, that additional funding comes with some strings attached, which includes a $1 billion “clawback” of what the city views as ill-gotten gains from Police DROP accounts. The proposed “clawbacks” would come in the form of reduced future distributions for pensioners.

For those who haven’t followed this story as closely, DROP, which was created in the early 90’s, allowed police and firefighters in Dallas to retire while still on the job. Their monthly pension checks were then diverted into DROP accounts, which were guaranteed an 8-10% return regardless of how the overall fund performed. Unfortunately for DPFP pensioners, the Dallas City Council now views those guaranteed returns as an effort to defraud Dallas taxpayers of billions…we would tend to agree.

The city has agreed to put in an additional billion dollars over 30 years, but they’re proposing a series of bitter pills to make up the rest of the nearly $4 billion shortfall.

The bitterest pill: A proposal to take back all of the interest police and firefighters earned on Deferred Option Retirement accounts, or DROP. That would amount to an additional billion dollars saved.

The city is calling it an “equity adjustment.” Retirees call it an illegal “claw back.”

Whatever you want to call it, it’s outlined in a draft legislation being hammered out by the city and pension fund leaders. Pension fund representatives and the city have been meeting almost daily to try to come to an agreement on proposed legislation that they can take to the state capital to fix the failing fund.

Of course, …read more

Source: City Of Dallas Looks To "Clawback" Ill-Gotten Pension Gains From Police

    

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Terrorism? Airport Shooting Suspect Esteban Santiago Identified As Convert To Islam Who Watched E-Jihad Video In 2007

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By ZeroPointNow

Researchers at GotNews.com went completely down the rabbit hole within hours of the shooting at the Ft. Lauderdale airport, after officials identified the suspect as Estaban Santiago – a resident of Alaska who flew on a military ID to Ft. Lauderdale with a loaded pistol in his carry-on, before retrieving the weapon and beginning his deadly rampage.

GotNews has uncovered evidence that Santiago is a “Puerto Rican Islamic Terrorist & Anime Fan.” Unfortunately as of this writing their servers have crashed, so they have uploaded their evidence to Twitter. See for yourself.

These are the Nexis public records details for the ONLY #EstebanSantiago ever in Alaska, who is also 26-yrs-old. Note “Naota33” e-mail. 1/? pic.twitter.com/bHMH6CAR79

— WeSearchr (@wesearchr) January 6, 2017

Searching leaked databases for “Naota33” reveals THIS image of #EstebanSantiago with Mid-Eastern keffiyeh & ISIS one-finger salute. 2/? pic.twitter.com/M9MolgsZ6z

— WeSearchr (@wesearchr) January 6, 2017

In 2007, user “Naota33” posted on explosives/weapons forum in a thread about mass-downloading radical Islamic terrorist propaganda vids. 3/? pic.twitter.com/XZSF1ryYUE

— WeSearchr (@wesearchr) January 6, 2017

Newly-discovered @Instagram of “Naota33” proves we were 100% RIGHT on our identification of #EstebanSantiago #FortLauderdale. 4/? pic.twitter.com/XwncWMzyjs

— WeSearchr (@wesearchr) January 6, 2017

So @CBSNews has now visually confirmed our FIRST identification of #EstebanSantiago #FortLauderdale & his status as Islamic terrorist.

— WeSearchr (@wesearchr) January 6, 2017

CNN JUST USED @wesearchr PHOTO
CNN JUST USED @wesearchr PHOTO
CNN JUST USED @wesearchr PHOTO

NOTICE HOW IT’S IN BLACK AND WHITE.
WEW LADS pic.twitter.com/5leL8m8t3t

— The Current Year (@TheeCurrentYear) January 6, 2017

Content originally generated at iBankCoin.com

…read more

Source: Terrorism? Airport Shooting Suspect Esteban Santiago Identified As Convert To Islam Who Watched E-Jihad Video In 2007

    

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Here’s How Many Bombs Obama Dropped In 2016

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By Tyler Durden

Bombs Dropped

Seven years after being awarded the Nobel Peace Prize for his “extraordinary efforts to strengthen international diplomacy and cooperation between peoples,” despite having been in office for less than one year and having pretty much no actual, tangible foreign diplomacy accomplishments at the time, President Obama will depart the White House having dropped 26,171 bombs on foreign countries around the world in 2016, 3,027 more than 2015.

According to an analysis of Defense Department data from the Council on Foreign Relations, a non-partisan think tank, the majority of Obama’s 2016 bombs were dropped on Syria and Iraq. Meanwhile, Afghanistan, a country President Obama vowed U.S. troops would evacuate completely by the end of his Presidency, was also bombed over 1,300 times, a 40% increase over 2015. Per McClatchy DC:

The U.S. dropped 79 percent of the anti-Islamic State group coalition bombs in Syria and Iraq, totaling 24,287. That figure, along with others analyzed by CFR, is likely lower than the actual number dropped because one airstrike can involved multiple bombs.

Obama did authorize a troop surge in Afghanistan — a conflict he pledged to end during his campaign — where the U.S. dropped 1,337 bombs in 2016. There are currently 8,400 U.S. troops left in the country, more than Obama initially wanted to keep there at the end of his term. The U.S. only dropped 947 bombs in Afghanistan in 2015.

The U.S. also dropped more bombs in Libya in 2016 than it did in 2015. Nearly 500 bombs were dropped in the North African country that has essentially been ungoverned since the fall of dictator Muammar Gaddafi in 2011. He was captured and killed during the Libyan Civil War, kicked off by the Arab Spring protests that also began the Syrian conflict.

Nothing like releasing Gitmo detainees back to the battlefield so that we can just bomb them all over again.

…read more

Source: Here’s How Many Bombs Obama Dropped In 2016

    

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14 coolest tech products from CES 2017

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From an underwater drone to the car of the future, here’s a look at what impressed us most. …read more

Source: 14 coolest tech products from CES 2017

    

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hedgeless_horseman’s E-Z Internet Guide On How To Actually Buy Gold, and Not Just Talk About It, Bitchezzz!!!!

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By hedgeless_horseman

“When robbery is done in open daylight
by sanction of the law,
as it is done today,
then any act of honor or restitution
has to be hidden underground.”

-Ragnar Danneskjold

The internet and ZeroHedge are filled with articles discussing why it is a good idea to buy gold. If I only had an extra ounce of gold for every time I typed or read the phrase Gold, Bitchezzz!!! here on ZeroHedge. Which brings me to the topic of today’s article, hedgeless_horseman’s E-Z Internet Guide On How To Actually Buy Gold, and Not Just Talk About It, Bitchezzz!!!!

Several years ago, I posted a brief parody on the topic of gold, The Twelve Steps, and have made dozens, if not hundreds, of comments on other ZH articles over the years.

The Twelve Steps

We came to understand that our government is powerless over its spending – that our nation’s debt had become unmanageable.

We came to believe that a power greater than our fiat currency could restore us to sanity.

We made a decision to turn our savings and our investments over to the care of gold, as we understand gold to be a physical asset – not a paper promise.

We made a searching and fearless inventory of our wealth.

We converted to gold, to Krugerrands, and to Maple Leafs, the fiat paper assets of our wealth, thus eliminating our counterparties.

We were entirely ready to have gold remove all risk of default.

We humbly asked the coin dealer to reduce our exposure to The Inflation Tax.

We made a list of those politicians that expose us to The Inflation Tax, and became willing to work against them all.

We gave direct support to Libertarians whenever possible, except when no Libertarian is on the ballot, and then we voted against the incumbent.

We continued to create wealth through our own industry, and then we converted it to gold, and promptly buried it.

We sought through silver coins to increase our contact with precious metal, as we understand silver to be a physical asset – not a paper promise, paying for as many day-to-day transactions with silver as possible, using our credit card (not debit) for what was not, and paying off the entire balance each month.

We, having had a fiscal awakening as the result of these steps, tried to carry this message to others, and to practice these principles in all our affairs.

If you feel like you are one of us, or want to be one of us, but need a little help getting started, then keep reading, because this article is for you.

As long-time ZH readers may know, as an American, I prefer buying one ounce South African Krugerrands and Canadian Maple Leafs, and not coins from the United States Mint. I am frequently asked about this preference, and I usually respond with something like this:

Unlike the kilo bars, one ounce Canadian Maple Leafs [and Kruggerands] don’t have serial numbers, can be claimed as …read more

Source: hedgeless_horseman’s E-Z Internet Guide On How To Actually Buy Gold, and Not Just Talk About It, Bitchezzz!!!!

    

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Wells Fargo’s notorious sales goals to get a makeover

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Wells Fargo is set to launch a new pay plan next week to replace the wildly unrealistic sales goals that have been blamed for corrupting its retail banking workers. …read more

Source: Wells Fargo’s notorious sales goals to get a makeover

    

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Five Victims Reported After Shooting At Ft. Lauderdale Airport

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By Tyler Durden

Multiple twitter sources, among which former White House press secretary Ari Fleischer who was on the scene, are reporting of a shooting at the Fort Lauderdale-Hollywood International Airport in Florida.

I’m at the Ft. Lauderdale Airport. Shots have been fired. Everyone is running.

— Ari Fleischer (@AriFleischer) January 6, 2017

The police said there is one shooter and five victims.

— Ari Fleischer (@AriFleischer) January 6, 2017

All seems calm now but the police aren’t letting anyone out of the airport – at least not the area where I am.

— Ari Fleischer (@AriFleischer) January 6, 2017

While it is unclear if the incident is over, readers can follow real time audio from authorities after the jump below:

…read more

Source: Five Victims Reported After Shooting At Ft. Lauderdale Airport

    

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