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By Tim Knight from Slope of Hope

Today I received in the mail the State of California Primary Voter’s Guide, which the Secretary of State prints up by the millions and sends to every blessed citizen. I was expecting a few boring candidate statements of the U.S. Senate – AKA the World’s Most Exclusive Club – but, boy, was I wrong. Just take a look at some of these gems.

First off is a chap named Tim (I like him already………) who, understandably, doesn’t associate himself with any particular party. It seems what matters to him most is good old J.C., and he comes right to the point:

Next up is a woman whose first name, apparently, is President (which is shooting a bit high, since she only wants to be a United States Senator, a “prolific occupation”, as she puts it). For those considering whether or not to give her their vote, keep in mind that she is “mainstream Facebook in social media”, to say nothing of the fact that her core values are what drive America.

Mr. Peters, who decided not to bother sending in a photograph, is an “Andrew Jackson Democrat”, which I guess means he will soon be removed from our currency. The last 118 years, evidently, were misguided.

Karen Roseberry goes oblique on us with this coined phrase…….

If you take the time to go to her web site, however, you can start to drink in her qualifications for this high office.

My personal favorite, being from Silicon Valley myself, is Jason Hanania’s, who offers up a binary statement (which cost him $25, the per-word rate, for his entire statement).

Mike Peitiks is sporting a rocking beard and offers up his “single board” of a platform, which is climate change. I’d like to point out not one other candidate swore on the graves of future Californians. Not one.

Lastly, we end with Ling Ling Shi who, at long last, is willing to challenge the “10 giant chaos in economy” that we’re all so weary of fighting. Rock it, Ling Ling!

…read more

Source: World’s Most Exclusive Club

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Federal watchdog over TARP funds says investigations have resulted in 59 convictions of bankers and 35 sent to prison since financial crisis. …read more

Source: Some bankers really did go to prison over financial crisis

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By Tyler Durden

Authored by Paul Craig Roberts,

The Third World War is currently being fought. How long before it moves into its hot stage?

Washington is currently conducting economic and propaganda warfare against four members of the five bloc group of countries known as BRICS—Brazil, Russia, India, China, and South Africa.

Eric Draitser provides some details of Washington’s assault on Russia: http://www.mintpressnews.com/brics-attack-western-banks-governments-launch-full-spectrum-assault-russia-part/215761/

…of Washington’s attack on South Africa: http://www.mintpressnews.com/brics-attack-empires-destabilizing-hand-reaches-south-africa/215126/

…and of Washington’s attack on Brazil: http://www.mintpressnews.com/brics-attack-empire-strikes-back-brazil/214943/

For my column on Washington’s attack on Latin American independence, see: http://www.paulcraigroberts.org/2016/04/22/washington-launches-its-attack-against-brics-paul-craig-roberts/

Brazil and South Africa are being destabilized with fabricated political scandals. Both countries are rife with Washington-financed politicians and Non-Governmental Organizations (NGOs). Washington concocts a scandal, sends its political agents into action demanding action against the government and its NGOs into the streets in protests.

Washington tried this against China with the orchestrated Hong Kong “student protest.” Washington hoped that the protest would spread into China, but the scheme failed. Washington tried this against Russia with the orchestrated protests against Putin’s reelection and failed again.

To destablilze Russia, Washington needs a firmer hold inside Russia. In order to gain a firmer hold, Washington worked with the New York mega-banks and the Saudis to drive down the oil price from over $100 per barrel to $30. This has put pressure on Russian finances and the ruble. In response to Russia’s budgetary needs, Washington’s allies inside Russia are pushing President Putin to privatize important Russian economic sectors in order to raise foreign capital to cover the budget deficit and support the ruble. If Putin gives in, important Russian assets will move from Russian control to Washington’s control.

In my opinion, those who are pushing privatization are either traitors or completely stupid. Whichever it is, they are a danger to Russia’s independence.

As I have often pointed out, the neoconservatives have been driven insane by their arrogance and hubris. In their pursuit of American hegemony over the world, they have cast aside all caution in their determination to destabilize Russia and China.

By implementing neoliberal economic policies urged on them by their economists trained in the Western neoliberal tradition, the Russian and Chinese governments are setting themselves up for Washington. By swallowing the “globalism” line, using the US dollar, participating in the Western payments system, opening themselves to destabilization by foreign capital inflows and outflows, hosting American banks, and permitting foreign ownership, the Russian and Chinese governments have made themselves ripe for destabilization.

If Russia and China do not disengage from the Western system and exile their neoliberal economists, they will have to go to war in order to defend their sovereignty.

…read more

Source: Paul Craig Roberts: World War III Has Begun

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By Tyler Durden

The speculative Chinese commodity bubble has begun to reach the mainstream as Citi's warning to “hold on to your hats” today at the surge in trading volumes across Rebar, Iron Ore, Coke, and Copper literally exploded with the former now the most actively trade commodity in the world. The frenzy has become so insane that the head of the largest metals exchange in the world exclaimed at a conference in Singapore today that “I don't think most people who trade it know what it is.” We suspect he is 100% correct and judging by the following chart, we know exactly how it will end.

As Bloomberg reports, the head of the world’s largest metals exchange said while volumes in China’s commodity futures markets have become phenomenal, it’s possible some traders don’t even know what it is they are buying or selling.

“Why should steel rebar be one of the world’s most actively-traded futures contracts?” Garry Jones, chief executive officer of the London Metal Exchange, said at a conference in Singapore on Wednesday. “I don’t think most people who trade it know what it is.”

Trading of commodity futures in China from steel reinforcement bars — a benchmark product used in construction — to iron ore, coking coal and cotton has ballooned this month on an unprecedented surge in retail investor interest. The jump in volumes has stunned global markets, according to Morgan Stanley, while eliciting concern from Goldman Sachs Group Inc.

Exchanges in Asia’s top economy including in Shanghai have announced a series of measures this month to cool the frenzy, and said more steps may follow.

“If you look at the client base of most Chinese exchanges, it’s heavily retail-focused,” Jones said on a panel discussion addressing commodities and risk management in China. The exchanges there “have very high retail participation. They have a very high velocity of trading,” he said.

Now where have we seen this pattern of massive speculative volume rushing in from retail investors chasing a trend?

The speculative activities will be vulnerable to a sharp reversal, once the upward price momentum wanes, according to BMI Research, a unit of Fitch Group, drawing parallels with a rally, followed by a slump, in Chinese equities last year.

And that did not end well for price action before in 2015…

or 2009…

And just as expected above…once the volume reaches a crescendo it crashes and The Party's Over

As reports from China suggest both major margin increases at the main exchanges and crackdowns on real production: Tangshan city is banning all coke, steel & cement productions for 24 hours starting this noon.

…read more

Source: Chinese Commodity Trading Volume Crashes: "Most Don’t Even Know What They Are Trading"

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By Michael Snyder

A shocking new survey has found that support for capitalism is dying in America.  In fact, more than half of all adults in the United States under the age of 30 say that they do not support capitalism at this point.  You might be tempted to dismiss them as “foolish young people”, but the truth is that they are the future of America.  As older generations die off, they will eventually become the leaders of this country.  And of course our nation has not resembled anything close to a capitalist society for quite some time now.  In a recent article, I listed 97 different taxes that Americans pay each year, and some Americans actually end up returning more than half of what they earn to the government by the time it is all said and done.  So at best it could be said that we are running some sort of hybrid system that isn’t as far down the road toward full-blown socialism as most European nations are.  But without a doubt we are moving in that direction, and our young people are going to be cheering every step of the way.

When I first heard of this new survey from Harvard University, I was absolutely stunned.  The following is from what the Washington Post had to say about it…

The Harvard University survey, which polled young adults between ages 18 and 29, found that 51 percent of respondents do not support capitalism. Just 42 percent said they support it.

It isn’t clear that the young people in the poll would prefer some alternative system, though. Just 33 percent said they supported socialism. The survey had a margin of error of 2.4 percentage points.

Could it be possible that young adults were confused by the wording of the survey?

Well, other polls have come up with similar results…

The university’s results echo recent findings from Republican pollster Frank Luntz, who surveyed 1,000 Americans between the ages of 18 and 26 and found that 58% of respondents believed socialism to be the “more compassionate” political system when compared to capitalism. And when participants were asked to sum up the root of America’s problem in one word, 29% said “greed.”

This trend among our young people is very real, and you can see it in their support of Bernie Sanders.  For millions upon millions of young adults in America today, Hillary Clinton is not nearly liberal enough for them.  So they have flocked to Sanders, and if they had been the only ones voting in this election season, he would have won the Democratic nomination by a landslide.

Sadly, most of our young people don’t seem to understand how socialism slowly but surely destroys a nation.  If you want to see the end result of socialism, just look at the economic collapse that is going on in Venezuela right now.  The following comes from  a Bloomberg article entitled “Venezuela Doesn’t Have Enough Money to Pay for Its Money“…

Venezuela’s epic shortages are nothing new at this point. No diapers …read more

Source: The Future Of America? – More Than Half Of All U.S. Adults Under Age 30 Now Reject Capitalism

    

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