30 Sep 2013

It's Called Evolution, Gentlemen

By Karl Denninger: In 2007 I began writing The Market Ticker due to the outrageous conduct of various branches in the (US) Administration and portions of the Capital Markets.  Endemic fraud in the financial system that had generated unbridled and outrageous credit creation threatened the collapse of our entire economic system.
The consequence of this should have been thousands of indictments, prosecutions and imprisonments -- of banking executives, of members of Congress, of various executive branch officers in various agencies and more.  The banking system should have been forced to match assets to liabilities and either put up the margin to back their bets or liquidate them -- and if that forced them out of business and collapsed asset prices by 90%, so be it.
Instead our government took the easy way out.  It doubled down on the fraudulent models of the past.

Peak Walmart

By Charles Hugh Smith: Walmart's growth model may be peaking due to structural declines in miles driven, income of its customer base and rising competition from dollar stores.
Structural declines in miles driven, middle and working-class income and rising competition from dollar stores may be leading to Peak Walmart. Walmart's model of superstores built on the edge of town with an inventory/distribution system based on high turnover may have reached the point of diminishing returns.
There are various signs of this, for example: Wal-Mart Nails The "Consumer Recovery" Coffin Shut (Zero Hedge)
Correspondent Mark G. ties together the long-term dynamics in this insightful analysis:
The proliferation of Walgreens & CVS standalone pharmacies, plus new construction standalone Dollar General and Family Dollar stores is reaching something of a critical mass. The only real difference between the first pair and the second pair of chains is Walgreens & CVS have a prescription drug department. Otherwise all four are nearly identical in format and product lines, including complete small grocery departments of dry goods and dairy products. These product lines are so low margin they haven't interested the Brown Truck Store (UPS) so far.

How to Change a Light Bulb

Mehdi Sadaghdar: You can't even change a light bulb?! But it's so simple, just watch the video...

Mother of Threat Narrative Instinct or Learned

Typhon Blue: In this dialog we cover the question of threat narratives being instinctive versus learned behaviour in men and women. This is the fourth Instalment in my Mother of Threat Narrative Dialogs with Della series. Source


All men are potential rapists, and definitely sexual deviants!” “Yeah! Those creeps!”
Men are no longer necessary.” “Damn skippy! Those useless slobs!”
Men are dominating privileged patriarchal oppressors, rule the world, and own all corporations.” “They oppress women! Smash the patriarchy!”
Men are stoic and emotionless. They don’t feel things like women do.” “Why won’t they listen to me!?!?!?”
Men are poisoned by testosterone and their chromosomes are going extinct.” “Good! Who needs them anyway?”
Boys won’t sit still in the class and are hard to control.” “So annoying! Why can’t they be more like girls?”
Men are sexually selfish and don’t care about pleasing their partners.” “Of course not! They’re men!”
Men pollute Mother Earth and plunge penis pumps in her to extract oil to fuel male privilege.” “Yeah! Women are more sensible and compassionate!”
Men are violent thugs, and start all wars.” “Yes! If women ruled the world, there would be no war.”
Men are unnecessary for the raising of a family.” “That’s right! Women can do it all!!!”

Unelected EU Technocrats To Ban Anti-Feminist Speech

By The vacation of the European Union’s institutions is over. Consequently, the Eurocrats are now back at trying to stamp out more individual rights from the population and increase the power of Brussels over the peoples of Europe.
Right before the vacation, we covered the EU’s attempt to literally stamp out economic freedom in the name of feminism[1]. The vote on that matter will take place on October 14[2] though it’s unlikely to pass as a measure since several countries (including Germany and the UK) have united their efforts to repeal it[3].

However, it won’t matter. The EU is a constant generator of totalitarian measures so even if the resolution that attempts to stamp out individual economic freedom will fail, the next attack on individual freedoms is already drafted.

75,000 anti Govt NHS privatisation protesters ignored by BBC - The BBC Sucks O Cocks News

The artist taxi driver

Mother of Threat Narrative Girl Parts

Typhon Blue: Did you know that "girl" was originally the gender-neutral term for a child of either sex?

This is the Third Instalment in my Mother of Threat Narrative Dialogs with Della series. In this instalment we cover some of the issues that girls deal with living in a society dominated by threat narratives. Source

Why the City of London has a problem with criminality!

By Rowan Bosworth-Davies: I am getting a lot of responses, (some genuinely understanding, some aggressive and unpleasant) from readers who assert that I have misunderstood the criminogenic nature of the City of London and its norms.

All too often, the writers assume as a matter of course that profitability, is an admirable status, however it is achieved.

My point has always been that if that is true (and it is an assertion I do not promote), then how does one define what is right and what is wrong within a financial market? And if that cannot be achieved satisfactorily, then how do we assert the same for society as a whole?

There are a number of words and phrases that are routinely trotted out to assert the legitimacy and the genius of the financial sector; innovation, entrepreneurship, profit-centered, revenue-focused, et al.

Politicians and free-market apologists constantly assert the importance of these contexts, and it seems that increasingly, particularly in recent years, their encouragement and enhancement has become the sine qua non of the financial climate in which we have been living.

It presumes that all can be forgiven in the pursuit of profit.

While this may be an admirable, unfettered free-market sentiment, it does not accord with reality.

The CoOp that dare not name its bondholders - The Americans who put Golden Dawners in jail - Phew-kushima, what a scorcher

The CoOp that dare not name its bondholders
The Slog: The vacuum that is media and Westminster comment on Britain’s first bailin stays firmly in place; thus is not a word breathed on the subject of thousands of elderly depositors in need being financially zapped in their twilight years. But Labour, the TUC and the LibDems all have their overdrafts bank there, and so it remains an Unsubject for Non-discussion: these fine friends of ours in hard times would rather see the aged and poor impoverished than themselves.
Now, however, a Slogger writes in to me, setting off a train of horrible thought in my already overcrowded bonce: since the local elections last year, a large proportion of all local Councils in England are Labour-controlled. The Slogger tells me his local Council banks with…..the CoOp. How many  others do the same, I ask myself? And as none of them should have an overdraft, have they now jumped out of the Icelandic fire and down the CoOperative pan by being redefined as bondholders?
When I asked them, the Co-Op couldn’t possibly comment. So I’m probably right. The constitutional ramifications of this don’t bear thinking about: to save the taxpayer from any more exposure to bailouts, CoOp Group may well be about to include taxpayer Treasury funds in its bailin. And of course, the Shovers & Makers in Westminster already have the equally constitutional electoral conundrum of two major Parties in the 2015 General Election being broke because a management/Treasury plot stole their money. I sense this is not going to end well.


Industries for the destruction of men

By If you are a father in the United States who has experienced divorce, then you know that the family courts want nothing to do with you except for you to participate in the system which helps make lawyers rich, submit to being a marginalized parent, and paying child support via the government so that women and children have access to government help once the mother disposes of you.
What you may not realize is that all U.S. state governments have become dependent on court-ordered alienated fathers who pay greater child support which, in turn, triggers Federal Title IV-D money that states then use to replenish money for welfare and other programs. But, this can only happen once paternity is established.
With this in mind, it may seem apparent to you that the biggest opposition to this industry is father’s rights and shared parenting groups who are demanding increased time with their children and supporting them directly instead of via the government program of child support enforcement.
If you put your money on father’s rights groups, I want to introduce another flourishing industry that has crept up in the past decade that is in direct conflict with child support enforcement and their need to establish paternity of children and bringing fathers under Federal enforcement. In fact, this industry desperately opposes the establishment of paternity of the roughly 46% of children in the United States being born to a mother that is single or married to someone other than the child’s biological father.

29 Sep 2013

MIC Ruled Cyber-Britannia: MoD to recruit hundreds of IT warriors for cyber task force

Reuters / Kacper Pempel
RT: Britain’s MIC has announced it is creating a military cyber unit and has welcomed tech-savvy hackers to consider taking the Queen’s virtual shilling in a recruitment drive starting October.
The UK is channeling part of its military budget on recruiting hundreds of computer experts to constitute the new Joint Cyber Reserve Unit, the country’s Defense Secretary, Philip Hammond, announced Sunday.
For the first time, the UK’s would-be cyber warriors will be tasked with offensive missions.

"In response to the growing cyber threat, we are developing a full-spectrum military cyber capability, including a strike capability, to enhance the UK's range of military capabilities," AFP reported Hammond as saying.

Drugged Up US Youth Pastor Freaks Out On National TV

CultOfDusty: Another one of those stories that is hard to believe is real but actually is. Matt Pitt, leader of one of the largest Christian Youth organizations on earth, gets wasted on live TV and tries to lure kids into his basement.

Comedian Dave Foley on child support Canada style

CNN: Dave Foley of "The Kids in the Hall" discusses the costs of child support - Canada style!

“Global Corporate Coup” TPP Protestors Scale Trade Building To Bring Attention to Secretive Deal

Kevin Zeese: The Trans-Pacific Partnership has nothing to do with trade or freedom, and ongoing demonstrations could encourage those on the inside to speak up

Misandry: On surrogacy

Drinking, Truth and Transgender Dating

ramzpaul: Via Rolling Stone: "...a provocative study in the latest issue of Personality and Social Psychology Bulletin -- the conservatism-and-alcohol study

Taxi to Tory Party Conference + Wave bye bye to PFI - The BBC Sucks O Cocks News

The artist taxi driver

Banksters: The Organized Crime

Canadian financial analyst Rob Kirby and German financial journalist Lars Schall discuss this week’s dismissal by the U.S. Commodity Futures Trading Commission of complaints about manipulation of the silver market. In particular, Kirby and Schall focus on a powerful entity that is rarely mentioned in financial mainstream journalism, if at all: the Exchange Stabilization Fund.

The US FBI Has Been Using Drones Domestically Since 2006

By Michael Krieger: So about that whole drone debate in the USA…
It seems the feds decided to simply skip over such a quaint notion and deploy them without telling anyone. Back in December of last year, I highlighted a press release from the Electronic Frontier Foundation (EFF) about current drone flights in the U.S. They disclosed that:
Today EFF posted several thousand pages of new drone license records and a new map that tracks the location of drone flights across the United States.

These records, received as a result of EFF’s Freedom of Information Act (FOIA) lawsuit against the Federal Aviation Administration (FAA), come from state and local law enforcement agencies, universities and—for the first time—three branches of the U.S. military: the Air Force, Marine Corps, and DARPA (Defense Advanced Research Projects Agency.
That story was big news to me at the time, and it was particularly disturbing in light of the fact that Congress has cleared the way for the Federal Aviation Administration to allow 30,000 drones in the nation’s skies by 2020.

28 Sep 2013

These Are The Ten "People" Who Run The World (For The Last 20 Years)

Tyler Durden's picture Submitted by Tyler Durden:

"When deep space exploration ramps up, it'll be the corporations that name everything, the IBM Stellar Sphere, the Microsoft Galaxy, Planet Starbucks"
  - Narrator, Fight Club
Everyone knows that politicians are merely muppets, controlled by financial and corporate interests, injected into an anachronistic legacy represenational system designed to give the person on the street some sense of nominal control over day-to-day events. And while bankers control the flow, production and cost of money, without some means of converting labor (someone else's) into capital (their own), all the money in the world would be for nothing (and the myth that debt is wealth would be extinguished). Which leaves one true controlling agent: Corporations, or as they are better known by the Supreme Court: " [2]people [2]."

Lynching America - Max Keiser and Stacy Herbert with George Galloway + The Killing of Tony Blair

Max Keiser and Stacy Herbert, discuss whether banking bonus outrage is equivalent to the lynching of African Americans in the Deep South and the money, money, money, MONEY! of the ex-Presidents of the United States. In the second half, Max interviews George Galloway, a Member of Parliament, about his documentary film, The Killing of Tony Blair.

Nuke Russian Roulette: No. 2 US nuclear commander suspended amid gambling probe

UK Banned Press TV: The Naval Criminal Investigation Command has suspended the No. 2 officer at the US at the US military command in charge of all nuclear war-fighting forces, officials said Saturday.
Navy Vice Adm. Tim Giardina
Air Force Gen. Robert Kehler, who heads US Strategic Command, suspended the deputy commander, Navy Vice Adm. Tim Giardina, from his duties more than three weeks ago but it was not publicly announced, according to the Associated Press.

The suspension of a high-ranking officer at US Strategic Command is highly unusual, AP said.

Giardina is still assigned to the command but is prohibited from performing duties related to nuclear weapons and other work requiring a security clearance, according to the command’s top spokeswoman, Navy Capt. Pamela Kunze.

Speaking on condition of anonymity, two senior US officials familiar with the investigation said it is related to gambling issues.

The Moral Hazard of the Zeitgeist Movement

Stefan Molyneux: Answers listener questions and discusses finding your audience as a writer, promoting your business, being honest with those in your life, asking the right questions of potential romantic partners, the falsehood of brutal honesty, the zeitgeist movement (1:26), avoiding moral responsibility and a reminder that facts are not friends of delusion.

HIV AIDS Cure Dr Gary Davis

Banksters and Fornicating Lame Stream Privatise Our Lives - The BBC Sucks O Cocks News

The artist taxi driver

Suspicions grow as police swoop on Golden Dawn

kasidarisGolden Dawn leader and ten of his colleagues arrested

Kasidiaris…likely Athens winner in custody?
The Slog: As support for Golden Dawn more than halved this week from 14% to 6.7%, many leading commentators here have growing doubts about the motives behind police actions since the murder of Leftist hip-hop rapper Pavlos Fissas ten days ago. Three hours ago Athens sources confirmed to me that GD leader Nikolaos Mihaloliakos and ten other Party members – including prominent MPs – have been arrested on charges of “forming a criminal political Party”. It is notable that none of the accused, I’m told, have been arrested in direct connection with the murder of Fissas.
Unconfirmed reports further suggest that Elias Kasidiaris (the Golden Dawn Athens mayoral candidate hotly tipped to win that City election) has also been taken into custody. If true, this will  further fuel the widespread belief that these events represent an attempt by the Samaras Government to guarantee themselves a clear victory in any future elections. Without Golden Dawn in the running, many traditional voters would switch to Samaras’s Party New Democracy. This would leave Alexis Tsipras and Syriza once more neutered in opposition. Source

The UNTAPER and Ponzi finance

Eyes wide shut!
The funding of moral and fiscal insolvency continues to BARRELL along.  The whole developed world is INSOLVENT and the public just muddles along as the bagman for the behavior of the very people they have placed their trust and futures in.  The vast majority of the world has bought hook line and sinker the thought that they can SOMETHING for NOTHING and are attempting to realize this dream.
They believe they can live a good life without working for it.  That they are entitled to the fruits of others labor, known throughout history as slavery, but now the word for it is FAIRNESS.  That wealth and prosperity can be printed out of thin air with no consequences to the world at large.  
They believe that you can consume more than you produce without descending into insolvency.  That you can borrow money for consumption and leave the bill for future generations to pay.  That you can steal from the public and transfer it to government, bankers and crony capitalists without destroying the fabric of the economy known as the MIDDLE CLASS.  How much pain must be generated to disabuse them of these ideas?  WE WILL FIND OUT!

Putin's A Game Changer!

27 Sep 2013

Misandry: Raise the Voices

Slimey UK Politicians: Will Self vs Michael Gove

liarpoliticians: Will Self has a go at extremely slimey MP Michael Gove.

Panama Announces 5 Day Bank Holiday! Bail-in Imminent?

The Doc: *Updated 4pm EST with notice to customers from National Bank of Panama’s website
This morning the National Bank of Panama announced that it was suspending all services until Tuesday the 1st of October.
The National Bank of Panama claims that the reason for the 5 day bank holiday is to upgrade systems.
The Clave (Debit Card) system has been taken offline. No wire transfers between banks and internationally until the 1st of October.
This system wide shutdown has country wide implications. The National Bank of Panama did not warn the people before making the announcement and shutting down the banks. The people do not have access to ATM’s either. We received word of this from family members first. This weekend is payday for people across Panama.
Is the next Cyprus-style bankster bail-in about to be implemented in Panama?

Zeitgeist Versus the Market - Peter Joseph Debates Stefan Molyneux

SM: Stefan Molyneux debates Peter Joseph of the Zeitgeist Movement on the nature and reality of the free market system. Source

The truth about the EU’s financial situation in one word

predictions vindicated on all fronts
The Slog: In recent weeks, the Slog has consistently questioned the official version of the European Union’s ‘situation’: the wisdom of the German electorate, the mysteriously missing eurozone investment data, the state of Spanish banks, the real nature of Greek debt repayment schedules and possibilities for a recovery, the obviously mendacious nature of the Italian economic data, the insolvency of the Monte del Peischi Bank, and even whether David Cameron had genuinely secured a reduction in the EC budget. In particular, the slurry of poor data that followed Merkel’s victory last weekend seemed to me on Monday and Tuesday worthy of comment. Judge for yourselves as to what the real situation is in the light of what follows below.
French Bank SocGen just issued this damning commentary on credit and growth in the eurozone:
‘Loan production to the private sector growth dropped further by €8bn or 1.5% yoy. Looking forward, this suggests that a recovery in private investment at the area level is not something to expect in the near future. Private-sector credit growth remained negative in August, falling by 2.0% yoy. Adjusted for sales and securitisation, private-sector loan production dropped by €8bn, after respective tumbles of €35bn and €44bn in July and June. Loan production to the private sector stood 1.5% below its year-ago level in August.’

OMFG!!! Tory Entrance Slogan "Work Makes You Free" - The BBC Sucks O Cocks News

The artist taxi driver

Resist Greece + Murder of Leftist Pavlos Fyssas ‘was a set-up’.

Resist Greece: A short video for our friends in Greece who are resisting at the moment.

When Feminists Get Dumped

ramzpaul: Feminist, Quin Woodward Pu, gets dumped after two dates. In revenge she attempts to get the man fired.

Greece On The Verge? Military Special Forces Have 15 Demands... Or Else

Tyler Durden's picturereek government authorities are on alert after a union of Greek army reservists of Special Forces issued a statement urging the Greek administration to step down and make way for a national unity government. As Keep Talking Greece notes, the statement on the union' website included 15 demands - including the resignation of the Greek President - and urged people to gather at the infamous Syntagma Square on Saturday. The statement was interpreted by some as a call to a "coup d'etat" - denied by the union - but prompted Greece's Supreme Court to meet to discuss it.
The 15 Demands...
The announcement of reservists as posted on the website keed-hellas.blogspot.com
Reservists Special Forces and the Greek people to implementation of Article 120 of the Constitution requires:
One. IMMEDIATE RESIGNATION OF GOVERNMENT of the impossibility of providing the people as provided in the Constitution at Work (Article 22), health, education, justice, security.
Two. ESTABLISHING A NATIONAL GOVERNMENT PLANS chaired by Supreme Court of personalities on proven outside politics and consultants from the Academy of Athens.

26 Sep 2013

Trickle-Down Flamethrowers - Max Keiser and Stacy Herbert with Mitch Feierstein

Max Keiser and Stacy Herbert discuss flamethrowers and jihadis in the banking world. They also note that houses in London earn more per day than the average worker in London. In the second half, Max interviews Mitch Feierstein of PlanetPonzi.com about the Fed's balance sheet, housing bubbles around the world and putting lipstick on pigs. Source

Cyprus-Style Wealth Confiscation Is Now Starting To Happen All Over The Globe

The Earth
By Michael Snyder: Now that "bail-ins" have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again.  In fact, Cyprus-style wealth confiscation is already starting to happen all around the world.  As you will read about below, private pension funds were just raided by the government in Poland, and a "bail-in" is being organized for one of the largest banks in Italy.  Unfortunately, this is just the beginning.  The precedent that was set in Cyprus is being used as a template for establishing bail-in procedures in New Zealand, Canada and all over Europe.  It is only a matter of time before we see this exact same type of thing happen in the United States as well.  From now on, anyone that keeps a large amount of money in any single bank account or retirement fund is being incredibly foolish.
Let's take a look at a few of the examples of how Cyprus-style wealth confiscation is now moving forward all over the globe...
For years, there have been rumors that someday the U.S. government would raid private pension funds.
Well, in Poland it just happened.

Searching for visionary investments

silverfuturist: Every few years a visionary investment opportunity arises.

Miliband the confused Commissar: out for the count, and in for a pasting

EddeadThe Slog: You have all, no doubt, witnessed the British media’s attempt over the last 24 hours to depict Ed Miliband as the heir to Fidel Castro. The truth is that ‘Red’ Ed is in reality Infidel Castrol: an oleaginous spillage capable of running nobody knows where…..but utterly incapable of retaining a principle about anything for longer than five minutes.
Consider these facts about Miliband’sSocialism. The Labour leader has revealed his intention to appoint Alan Buckle, deputy chairman at accountants KPMG, to investigate how the role and powers of the Low Pay Commission could be extended to strengthen the minimum wage.
KPMG is an arm of ATOS, a Group whose initials might well stand for All Types of Omnivorous Shitheads. For Atos is the French firm of sociopathic gargoyles run by Thierry Breton……the firm that this very same Ed Firebrand wants to fire from running work capability assessments for the DWP. There’s a good reason to fire them: they get more client complaints than any other single Coalition supplier – which really is saying something.

Double Standards: US intervention in the Middle East - Monsanto, etc.

UK BANNED Press TV: Interview with President Barack 'baby bomber' Obama, about US intervention in the Middle East; Persian Gulf Arab dictatorships supporting Al-Qaeda with US backing; Trickle up economics in the US and UK becomes orthodoxy despite all the evidence of failure; Monsanto and Europe, the war over GMO and peddling starvation for corporate profit;

Racketeering Insurance Companies in Nairobi ObamaCare and 911

Morris: Insurance companies are a racket that have their own revenue outside of government and yet the premiums are often mandated by law. Source

RECALL THE CRIMINALS!!! Osborne, Cameron, The Banksters!! + Mark Steel "shall we kill the Queen" +++ - The BBC Sucks O Cocks News

The artist taxi driver
"You can't make this shit up!"

The Military Industrial Complex: critics of US drone program considered ‘threats,’ ‘adversaries,’ ‘propagandists’

By Madison Ruppert: A top secret internal US government website states that opponents to the U.S. drone program are to be considered “adversaries,” “threats” and “propagandists,” according to a Guardian report.
This is hardly surprising, given that pretty much everything is considered an indicator of potential terrorist activity, including undermining the government’s narrative.
The website, which looks similar to Wikipedia, contains entries written only by individuals “with top secret clearance and public key infrastructure certificates.” These certificates are cards that give unique access to restricted parts of NSA systems, according a Guardian interview with Edward Snowden.
All of the entries are “peer reviewed,” according to Snowden, which means that the statements reflect official government positions.
In listing “threats to unmanned aerial vehicles,” the expected physical dangers, including “air defense threats,” “jamming of UAV sensor systems,” “terrestrial weather” and “electronic warfare employed against the command and control system” are outlined.
However, the article also describes “propaganda campaigns that target UAV use” as one of the threats facing the drone program.
Among the “examples of potential propaganda themes that could be employed against UAV operations” some shocking entries are included.

Greece: Riot police attack massive Antifa demo against the headquarters of Golden Dawn

Perseus999: On September 26, 2013 tens of thousands of antifascists in Athens, Greece marched towards the headquarters of the fascist party Golden Dawn following the murder of antifascist Pavlos Fyssas by neonazi thugs on September 17, 2013. On the same day Antifa marches took place in 17 other cities across Greece. The fight against neo-fascism goes on.

TEACH THEM NOT TO RAPE! + Edinburgh Students' Union Bans Song Because Rabid Feminists Don't Like It

Thunderf00t: Many people, when confronted with the fact that -their choice of behavior modulates their chances of being raped- take the very simplistic, and unhelpful line that 'its solely the criminals fault'. While in the eyes of the law this is true, it glosses over the fact that your choice of behavior modulates your chances of becoming a victim. For instance, putting locks on your door reduces your chances of being burgled. Not being alone reduces your chances of being mugged and so on. However frequently when you suggest that peoples actions can reduce their chances of being raped, many people, (notably feminists) view this very differently.

The Joe Rogan Experience with Stefan Molyneux

SM: Subjects include: media hypocrisy, wasted human potential, nature vs. nurture, epigenetics, fragmenting the central narrative, the availability of information, confirmation bias, changing the world through better parenting, daycare, single mothers, pharmaceutical drugs, why marijuana is illegal, the difference between boys and girls, memory, the corrupt financial system, connecting at a primal level, the backgrounds of MMA fighters, managing aggression, the mind/body dichotomy, making mistakes, rampant ritual male infant mutilation, Joe's childhood, violence in involuntary relationships, drones, chemical weapons, accidents of birth as virtue, success through hard work, acting, stand up comedy preparation, the horrors of divorce for men, gender/intelligence, gender equality, lying to get laid, discipline and the future of mankind.

25 Sep 2013

Truly "Exceptional" And Dumber Than Ever: US Verbal SAT Scores Plunge To Fresh Record Low

Tyler Durden's pictureaving followed this tragic development year after year, it is amazing that we are still surprised by what the chart below shows, yet here we are: surprised. Although judging by recent social, fiscal and monetary developments (and the complete lack thereof as the same old broken approaches are tried with a lunatic's intensity and an idiot's resolve that this time will be different), we can certainly believe it. In brief: another year, another record low for the average verbal SAT score, and another sad achievement for a nation that is getting fatter, dumber and ever more in debt

How one man took China’s gold

By Jan Skoyles: The story of China and their obsession with gold has been revived this year as monthly data shows the phenomenal volumes imported through Hong Kong and being traded on the Shanghai Gold Exchange.
However, given how much we gold commentators report on China’s inherent love for gold, it’s surprising that very few realise that less than one-hundred years ago the country lost thousands of years’ worth of reserves.
Whilst the 1930s saw the Shanghai Gold Business Exchange as one of the biggest gold centres in the Far East. China’s love for gold left them vulnerable to two separate accounts of looting. The first was in 1937 when Japan invaded China, thus helping themselves to 6,600 tonnes of gold from the then capital Nanking.

"A Structuraly Misandrist Society." UCL Debate: Feminism Is Sexist

manwomanmyth: Video of the entire debate featuring Tom Martin held on 28th February 2012 at University College London. At the time, Tom Martin was suing the LSE for sex discrimination.

Seven Gripping Photos Will Change The Way You Look At Homeless + Define Our Age - "Dead Dad"

HUFFPOST: Photographer Michael Pharaoh is only 22 years old. Yet already, he possesses the uncanny ability to capture the story written on a stranger's face.

michael pharaoh

Merkel’s election bullshit revealed: it was a bear-faced pack of lies

bearGrizzly truth about Europe breaks free
The Slog: The symbol-cum-mascot for Berlin is a bear…..und Mein Gott, the bad news bears are now working overtime to cram in all the evidence of disaster held back behind the dam until Fraud Oktor Merkel was back in command of the Bunker.
Deustche Bank’s share value dived off a cliff after 1.30 pm CET this afternoon, from €49 to 45.60 at the close. This followed a major revenue warning earlier, a warning that didn’t come at any point at all between September 5th and September 22nd. Wissen-Sie, how is ziss happenink? All voss Quiet on ze Western Front and then Achtung – Donner und Blitzen! – all Hell is loose gebreaking.
Barry the Black Dude (having bet the farm on Germany some time ago) did his best to provide the same “Don’t mention the Scheise” media blackout, although towards the end there Mr Bernanke let a few feral cats out of the carpet-bag. But since Tuesday am this week, the sluice gates have been set at Full Open All….what with Draghi’s LTRO and Monte del Paschei followed by Deutsche Bank’s Üntergang, and now private pension funds being raided by the government in Poland.

Statist Shill's Understanding Of The Impact Of Legalized Recreational Marijuana On State Tax Revenue

By Tony Nitti: Writing in today’s sissified, politically correct environment ain’t easy. In the old days, you could just tell it like it was, and if people got mad, so be it. But now, make a comment about one certain group of individuals, and it’s immediately, “Boo-Hoo, I’m being repressed.”  Constantly crying discrimination, these people have become so hyper-sensitive that they will twist the most innocuous comment in order to brand me a bigot.
I’m talking, as a statist shill of course, about pot smokers. Who did you think I was referring to? (Angelo: Feminazis?)
See, every time I write about the tax implications of the recent recreational marijuana revolution – with Washington and my home state of Colorado becoming the first states to approve the sale and use of the drug for non-medicinal purposes – my obligatory slew of tired, predictable pothead jokes are met with a backlash that is far more intense than one would expect from what should be a laid-back weed-smoking community.
The argument goes like this: “Why do you have to perpetuate the same tired clichés by painting cannabis users as futon-dwelling watchers of inane television? Do a little bit of research, and you’ll find that there are millions of cannabis users who are high functioning members of society:  lawyers, teachers, politicians and yes, even doctors.”
Well, Spicolli, I’ve got three things to say to you.

Quantitative Easing Worked For The Weimar Republic For A Little While Too

Wheelbarrow of Money
By Michael Snyder: There is a reason why every fiat currency in the history of the world has eventually failed.  At some point, those issuing fiat currencies always find themselves giving in to the temptation to wildly print more money.  Sometimes, the motivation for doing this is good.  When an economy is really struggling, those that have been entrusted with the management of that economy can easily fall for the lie that things would be better if people just had "more money".  Today, the Federal Reserve finds itself faced with a scenario that is very similar to what the Weimar Republic was facing nearly 100 years ago.  Like the Weimar Republic, the U.S. economy is also struggling and like the Weimar Republic, the U.S. government is absolutely drowning in debt.  Unfortunately, the Federal Reserve has decided to adopt the same solution that the Weimar Republic chose.  The Federal Reserve is recklessly printing money out of thin air, and in the short-term some positive things have come out of it.  But quantitative easing worked for the Weimar Republic for a little while too.  At first, more money caused economic activity to increase and unemployment was low.  But all of that money printing destroyed faith in German currency and in the German financial system and ultimately Germany experienced an economic meltdown that the world is still talking about today.  This is the path that the Federal Reserve is taking America down, but most Americans have absolutely no idea what is happening.

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The Slog: I’m obliged as always to Butch in New Mexico for sending me the latest output from the astonishingly bright Izabella Kaminska. Here’s a telling extract:
‘A while ago we speculated that because of the ongoing bifurcation of the eurozone market, Eonia rates could rise, and liquidity once again concentrate in core economies, as banks pay back their LTRO funds. Even if it appeared that the system could handle the repayments, banks in core economies would still be inclined to take advantage of extremely cheap negative rates available in collateral markets, so as to earn a spread on the deposit facility in a way that arguably encumbered the remaining liquidity. That would make it less available to periphery institutions.
Meanwhile, without the additional layer of ECB liquidity in the system — which acts as a type of system-wide insurance mechanism — periphery banks would consequently be forced to make ever more competitive bids for Eonia funds, lifting rates across the board.’
What Ms Kaminska is saying here, by the way, is that Draghi had no choice but to pump in more eurozone liquidity….if he wanted to avoid a rise in rates. Now fair enough, she’s writing here in the Financial Times, and in the headline she gets the key point over with commendable immediacy: The ECB’s very own tapering problem.

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20 Ordinary Americans Talk About The Economic Despair That Is Growing Like A Cancer All Around Them

By Michael Snyder: There are hundreds of formerly prosperous communities all over America that are being steadily transformed into rotting, decaying hellholes.  The good paying middle class jobs that once supported those communities are long gone, and they have been replaced with low paying service jobs if they have been replaced at all.  When you visit those communities, it is almost as if all of the hope has been sucked right out of the air.  It can be absolutely heartbreaking to look into the hollow eyes of someone that has totally given in to despair, but unfortunately the number of Americans that are giving up on the economy continues to grow.  Today, the labor participation rate is the lowest that it has been in 35 years, and more than 100 million Americans are enrolled in at least one welfare program.  It is easy to say that they should just "get a job", but as I have written about repeatedly, our economy simply is not producing enough jobs for everyone anymore.  The percentage of working age Americans with a job has remained at the same level that it was at during the worst days of the last recession, and meanwhile the quality of our jobs has continued to steadily decline.  Median household income has fallen for five years in a row, but the cost of living continues to rise rapidly.  The middle class is being systematically shredded, and poverty is growing at an alarming rate.  The U.S. economy has been in decline for a long time, and the really bad news is that it appears that this decline is about to accelerate.