JUN 6 SIT EC y POL
ZERO HEDGE
Our current money system began in 1971. It survived consumer
price inflation of almost 14% a year in 1980. But Paul Volcker was already on
the job, raising interest rates to bring inflation under control. And it survived
the “credit crunch” of 2008-09. Ben Bernanke dropped the price of credit to
almost zero, by slashing short-term interest rates and buying trillions of
dollars of government bonds. But the next crisis could be very different…
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Forget
the TPP: Wikileaks Releases Documents From The Equally Shady “Trade in Services
Agreement". Submitted by Tyler
Durden on 06/06/2015
If you think the
corporate-fascist state is overbearing and oppressive now, you ain’t seen
nothing yet.
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The
Slide Toward “Velvet Glove” Fascism Continues. by Pater Tenenbrarum
of Acting Man. Submitted by Tyler
Durden on 06/06/2015.
Sometimes we get the
feeling the ruling elites are investing the laws they enact with a kind of
impertinent, slap-in-your-face black humor. How else to explain the Orwellian
names given to the liberty-crushing laws that have been put in place since the
“war on terror” started?
….
Government-Granted “Freedom”
Sometimes we get the
feeling the ruling elites are investing the laws they enact with a kind of
impertinent, slap-in-your-face black humor. How else to explain the Orwellian
names given to the liberty-crushing laws that have been put in place since the
“war on terror” started? The latest
example is the misnamed “Freedom Act”, the purpose of which appears to be to
make legal what was hitherto plainly illegal – inter alia whole-sale
spying by the government on the citizenry.
Supporting Terrorists
Due to a FOIA request by Judicial Watch it has recently emerged that the
government knew full well that its intervention in Syria (arming moderately mad
mullahs in order to overthrow Assad) would probably result in the emergence of
an “Islamic State” in Iraq and Syria.
Amending the Amendments
The extraordinary powers the government has arrogated to
itself in other areas via the likewise Orwellian-sounding “Patriot Act” are
unlikely to actually improve its record of providing safety. The previously
allowed methods of detection and prevention of crime should be more than
sufficient for this purpose. After all, “ticking bomb” scenarios exist only in
Jack Bauer movies.
Conclusion
The fact that the
newest anti-terror law has been named the “Freedom Act” is a big red flag all
by itself. It certainly appears as if nothing has improved relative to the
previous situation.
Government
intervention in far-away lands continues to be the biggest force generating
more terrorism in the world. When blowback eventually ensues, we will no doubt
be told that if we want to be “safe” we will need to surrender even more civil
liberties. Unfortunately experience suggests that most people are either
going to sleep through this or will even cheer their own enslavement on.
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Cold
War 2.0 Heats Up: Washington Dusts Off Russia "Containment" Plans. Submitted by Tyler Durden on 06/06/2015
Amid escalating
violence in Ukraine,"the Obama administration officials are considering new
deterrence strategies to rein in Russian meddling in Europe, in what some
say would amount to an updated version of Cold War-era containment," WSJ
reports.
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Awkward:
Day After EPA Finds Fracking Does Not Pollute Water, Top Oil Regulator Resigns
Over Water Contamination. Submitted
by Tyler Durden
on 06/06/2015
Put this one in the awkward file: just hours after the EPA
released yet another massive study (literally, at just
under 1000 pages) which found no evidence that fracking led to widespread
pollution of drinking water (an outcome welcome by the oil industry and its
backers and criticized by environmental groups), the director of the California
Department of Conservation, which oversees the agency that regulates the
state's oil and gas industry, resigned as the culmination of a scandal over
the contamination of California's water supply by fracking wastewater dumping.
[[ Awkward?.. That Is a
soft word to describe this issue, a deceptive one. Let’s make clear: BIG CORP have “the right” to buy elections
–the Clinton mafia-clan is doing it with total impunity- … but the “right” to
pollute the water we drink .. that is the worse ever happens .. The neoliberal collapse equals chaos, anarchy
everywhere … it is sad ]]
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It’s the breakdown of jobs by age that really screams out.
It is a known fact that people in the 45 to 54 age bracket are in their prime
earning and spending years. In the last year the number of employed 45 to 54
year olds has DECLINED by 67,000. It DECLINED in May by 51,000. It has DECLINED
by 187,000 since February. It is a known fact that people over 55 dramatically
reduce their spending as they approach and enter their retirement years. The
Boomers have added 824,000 jobs in the last year, or 28% of all the new jobs
added.
….
THE REALLY GOOD STUFF IS BURIED IN TABLE A-9 OF THE BLS DATA
Dump. See for yourself:
As the MSM hacks and government apparatchiks try to convince
you the jobs market is booming, Table A-9 tells a different story. Here is what
is revealed:
- The number of working age Americans went up by 2.8 million in the last year, or 236k per month. The number of new jobs must average 236k per month just to stay even. In the last year the economy added 2.9 million jobs, slightly above the workforce growth, but the BLS expects you to believe the unemployment rate plunged from 6.3% to 5.5%. Hilarious!!!
- It’s the breakdown of jobs by age that really screams out. It is a known fact that people in the 45 to 54 age bracket are in their prime earning and spending years. In the last year the number of employed 45 to 54 year olds has DECLINED by 67,000. It DECLINED in May by 51,000. It has DECLINED by 187,000 since February.
- It is a known fact that people over 55 dramatically reduce their spending as they approach and enter their retirement years. The Boomers have added 824,000 jobs in the last year, or 28% of all the new jobs added.
- Only 117,000 jobs were added in the 35 to 44 year old bracket in the last year. So the age brackets that do the most spending in the country (35 to 54) have a net increase of 50k jobs in the last year. That is 1.7% of the total jobs added.
- The remainder of the new low paying jobs are going to young people who are in debt up to their eyeballs. Now you should understand why there is no real recovery. The people who normally spend the most aren’t getting jobs. The people who don’t spend or can’t spend are getting the bulk of the low paying service jobs.
- Of the 2.9 new jobs created in the last year, guess how many are classified as self-employment jobs? How about 935,000. That’s right. Your new job selling shit on Ebay or cutting three lawns per week is counted as a new job by the BLS drones. What a load of bull.
- There are also 7 million people who hold multiple jobs. That is a sure sign of economic progress.
- Almost 300k of the new jobs added in the last year were part-time shit jobs. 205k of the 464k jobs added since March are part-time jobs.
Sorry to be a buzzkill, but today’s jobs numbers are not
great. The job market sucks. Wages suck. The BLS will lie and obfuscate until
morale improves. The MSM will regurgitate the lies. So it goes.
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The
"Illegal Immigrant" Recovery? The Real Stunner In The Jobs Report. Submitted by Tyler
Durden on 06/06/2015
In the latest jobs report we find the following stunner:
since the start of the Second Great Depression, the US has added 2.3 million
"foreign-born" workers, offset by just 727K "native-born". This
means that the "recovery" has almost entirely benefited foreign-born
workers, to the tune fo 3 to 1 relative to native-born Americans!
[ Reason for ‘’illegal” immigrant
“recovery”? .. When white upper classes use the “illegal immigrant” they forgot
they are son of Pilgrims. I consider that a memory lapses. But the word “recovery” intrigues me. Recent immigrants
work hard to send money to their family ruined by Free Trade Agreement and
Monsanto that killed the agricultural business over there. Here American poor
& middle classes work hard too … but they expended their income during
weekends, while new immigrants save penny
by penny on daily basis. .. American workers are ruin by taxes, taxes
eat them … that is why they prefer to be
paid in cash, as new immigrants does. There are other factors to consider.. foreigners
do the dirty job of house construction and cleaning that most Americans refuse
to do .. Immigrants kill their lungs in asbestos related jobs with not chance
of health “recovery”.. They are force to save money since they live in basements without hitters
nor hot water .. Recovery?.. when a system use humans as slaves like them or
objects to be discarded ,,, the word “recovery” is insane; doesn’t make sense,
to say the less ]
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America,
The Ponzi Scheme: A Commencement Speech For The Scammed. Submitted by Tyler
Durden on 06/06/2015
Many of you undoubtedly think that your education is now
over and it’s time to enter the “real world.” I have news for you: you’ve
been in that world for the last four years, hence the debt you’re dragging
around behind you. So, on a day when the sun’s in your eyes and it
couldn’t be more apparent that the world’s not what you’ve been told it was,
maybe you should apply the principles of the scam artist to the world you’re
about to enter. Unless you do so, you’ll simply be scammed again in the
next phase of your life.
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Junker
Declines Tsipras Call: Greece "Not Serious", "No Reason To
Meet". Submitted by Tyler
Durden on 06/06/2015
If Greek PM Alexis Tsipras is serious about sticking with
the mandate that got Syriza elected, he got a rude awakening on Saturday when,
insulted by the PM’s fire and brimstone speech to parliament, EU Commission
President Jean-Claude Junker refused a meeting, noting that if Tsipras is
serious about going down with the ship, there’s nothing left to talk about.
[ When easy money is affected … diplomacy and negotiations
don’t work .. they abandoned and use the baseball bath, threats, and
“sanctions” … The case is that those means won’t work either .. then, the circus is over .. troika
buffoons became useless .. time to get a decent job ]
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Capital
Controls Explained: Argentina Edition. Submitted by Tyler
Durden on 06/06/2015.
When governments find themselves in financial trouble
because of the stupid decisions that they’ve made, their first response is to
award themselves even more power to make even stupider decisions. And among the
stupidest decisions that any government can make is imposing capital controls…
something that Argentina has in abundance. Capital controls are like the
Matrix; you can’t really explain what they are. You have to show people.
Argentina does not disappoint.
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"Einstein"
Fooled By "Chinese" Hackers In Massive Government Data Breach.
Submitted by Tyler Durden on 06/06/2015
"The hackers who stole personal data on 4 million
government employees from the U.S. Office of Personnel Management sneaked past
a sophisticated counter-hacking system called Einstein 3, a highly-touted,
multimillion-dollar and mostly secret technology that’s been years in the
making [but is] already obsolete," Bloomberg says. Unfortunately,
bureaucratic delays, Presidential pettiness, and Congressional paralysis likely
mean no improvements are forthcoming.
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A
Hopeful Edward Snowden Says "The Balance Of Power Is Beginning To
Shift". Submitted by Tyler
Durden on 06/06/2015
"The balance of power is beginning to shift. We are
witnessing the emergence of a post-terror generation, one that rejects a
worldview defined by a singular tragedy. For the first time since the
attacks of Sept. 11, 2001, we see the outline of a politics that turns away
from reaction and fear in favor of resilience and reason. With each court
victory, with every change in the law, we demonstrate facts are more convincing
than fear. As a society, we rediscover that the value of a right is not in
what it hides, but in what it protects."
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In
Major Escalation, Yemen Rebels Fire Scud Missile Into Saudi Arabia. Submitted
by Tyler Durden on 06/06/2015
On Saturday, Riyadh claimed Yemen's Iran-backed Houthis, in
concert with forces loyal to former Yemeni President Ali Abdullah Saleh, for
the first time fired a scud missile at Saudi Arabia.
----
A Very
European Episode . Submitted by Tyler
Durden on 06/06/2015
It is not so much that Greece and other nations are facing
severe financial difficulties. At the end of the day, most man-made problems
are solvable, especially in finance. What truly worries us is that this widely
diverse group is required to come up with robust solutions to very sensitive
political and economic problems, with wide reaching implications. Accordingly,
this Greek saga has been going on for five years, and we are now deeply in the
realm of unpalatable solutions – if indeed one can actually be found.
[ This is an international class-war episode against emerging
socialism, said Michael Hudson in Greek Debtline. According to Hudson the bondholders of Europe have lent much
too much money for Greece. ..The IMF have to write down its debts to their ability
to pay. But, “there’s no way that Greece can pay the debts without imposing an
economic collapse and making it even harder to pay the debts”.
“What we’ve seen erupting in Europe in the last three months IS THE OLD
CLASS WAR. It’s the war of finance against not only the Greek pensioners, not
only the Greek economy, but Greek industry, Greek exporters and Greek banks. THERE’S
A WAR TO TREAT GREECE AS AN OBJECT LESSON, because the financial interests of
Europe worry that if the Syriza party is able to write down the debts to save
the economy from depression, then Podemos in Spain and the Portuguese popular
parties are going to write down their debts. WE’VE GOT TO MAKE AN OBJECT LESSON
OF GREECE. We’ve got to absolutely crush socialism in the cradle so that it
won’t grow into a European-wide movement to avoid depression”. http://michael-hudson.com/2015/05/greek-debtline/ ]]
----
----
While the Greek government believes it may have won the
battle, if not the war with Europe, the reality is that every additional day in
which Athens does not have a funding backstop, be it the ECB (or the BRIC
bank), is a day which brings the local banking system to total collapse.
[…. ]
Quite simply each little municipality is spending every cent
it has as fast as it can. The Greek State asked all the town halls to hand over
spare cash a few weeks ago to help with the debt repayment. The town halls know
that next time it will not be a request but an order. But by then all the money
they had hoarded will have been spent. That is Greekeconomics for you.
Everyone knows that something has to give and that it will
probanly happen this summer. The signs are everywhere
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Greek
Banks On Verge Of Total Collapse: Bank Run Surges "Massively" As
Depositors Yank €700 Million Today Alone. Submitted by Tyler
Durden on 06/05/2015
While the Greek government believes it may have won the
battle, if not the war with Europe, the reality is that every additional day in
which Athens does not have a funding backstop, be it the ECB (or the BRIC
bank), is a day which brings the local banking system to total collapse. And
another day, or two, like today, and it may all be over: According to
banking sources, the Greek bank outflows on Friday soared to 700 million Euros
from 272 million Euros on Thursday.
----
Ron
Paul Stunned That George Soros Seeks To "Expand War In Ukraine".
Submitted by Tyler Durden on 06/05/2015
Earlier this week, using hacked and leaked documents and
pdfs created by, among others, George Soros' most
recent wife who is less than half his age, we showed
something fascinating: the puppetmaster behind the entire Ukraine conflict
may be none other than George Soros himself. Despite the limited
distribution of this very fascinating story which casts a vastly different
light on the Ukraine conflict than one shone by the mainstream, it did catch
the attention of one person: Ron Paul. In the following clip Ron Paul looks at
the stunning implications of Soros' involvement behind the scenes in Ukraine,
how he may be pulling the strings in this most critical proxy war between East
and West, and what he stands to gain.
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DoJ
To Tax Wall Street (Again) In MBS Probe. Submitted by Tyler
Durden on 06/05/2015
Emboldened by its recent “unprecedented” prosecutorial
success, the DoJ will now pursue a fresh round of MBS-related settlements with
banks that knowingly packaged and sold shoddy CDOs. Banks expected to settle
in coming months include Barclays PLC, Credit Suisse Group AG, Deutsche Bank
AG, HSBC Holdings PLC, Royal Bank of Scotland Group PLC,UBS AG and Wells Fargo
& Co.
----
QE
Breeds Instability. Submitted by Tyler
Durden on 06/05/2015
Central bankers have promised ad nauseum to keep rates low
for long periods of time. And they have delivered. Their claim is that this
helps the economy recover, but that is just a silly idea. What it does do is
help create the illusion of a recovering economy. What we have is the
financial system posing as the economy. And a vast majority of people falling
for that sleight of hand. Now the central bankers come face to face with
Hyman Minsky’s credo that ‘Stability Breeds Instability’. Ultra low rates
(ZIRP) are not a natural phenomenon, and that must of necessity mean that they
distort economies in ways that are inherently unpredictable. For central
bankers, investors, politicians, everyone. That is the essence of what is
being consistently denied, all the time.
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FUTURE FAST FORWARD
----
WASHINGTON BLOG
We believe that the war between liberals and
conservatives is a false divide-and-conquer dog-and-pony show created by the
powers that be to keep the American people divided and distracted. See this, this, this, this, this, this, this, this, this, this and this. And see number 1.
Moreover, we believe that both mainstream parties are bankrupt of ethics –
and ignoring what people want – and so we think that cheerleading for
Democrats-versus-Republicans is counter-productive. .. and that building
bridges to fight corruption is much more useful.
We also know highly ethical liberals and highy
ethical conservatives … and scum from both sides of the spectrum.
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Obama Sidelines
Kerry on Ukraine Policy.
Posted on June 7, 2015 by Eric Zuesse.
On May 21st, I
headlined “Secretary
of State John Kerry v. His Subordinate Victoria Nuland,
Regarding Ukraine,” and quoted John Kerry’s May 12th warning to
Ukrainian President Petro Poroshenko to cease his repeated threats to invade
Crimea and re-invade Donbass, two former regions of Ukraine, which had refused
to accept the legitimacy of the new regime that was imposed on Ukraine in
violent clashes during February 2014. (These were regions that had voted
overwhelmingly for the Ukrainian President who had just been overthrown. They
didn’t like him being violently tossed out and replaced by his
enemies.) Kerry said then that, regarding Poroshenko, “we would strongly urge
him to think twice not to engage in that kind of activity, that that
would put Minsk in serious jeopardy. And we would be very, very concerned about
what the consequences of that kind of action at this time may be.” Also
quoted there was Kerry’s subordinate, Victoria Nuland, three days later, saying
the exact opposite, that we “reiterate our deep commitment to a single
Ukrainian nation, including Crimea, and all the other regions of Ukraine.”
I noted, then that, “The only person with the power to fire Nuland is actually
U.S. President Barack Obama.” However, Obama instead has sided with Nuland
on this.
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Reports
on 2012 DIA Docs Noting Extremist-Led, Western-Backed Syrian Insurgency Gain
Momentum. Posted on June 6, 2015 by Robert Barsocchini
A former marine
with years of experience in Syria and the Middle East, Brad Hoff, broke the story about 2012 DIA
docs that state the insurgency in Syria is driven by Islamic extremists, and
predict the establishment of an “Islamic state” in Eastern Syria. Hoff’s report
was followed by examinations of the documents by International Relations
scholar Dr. Nafeez Ahmed, Prof. Juan Cole (both write for Middle East Eye,
etc.), and the group of former military and intelligence personnel, Fabius
Maximus, which was cited in Cole’s report.
To help flesh out
Cole’s brief summary of the documents, Hoff posted my more lengthy point by point
analysis, which was then noted by Dr. Ahmed and Fabius Maximus, which first noted
Hoff’s analysis, followed by Cole’s and my own.
----
----
Forget
the TPP – Wikileaks Releases Documents from the Equally Shady “Trade in
Services Agreement,” or TISA. Posted on June 6, 2015 by WashingtonsBlog
In the post, As
the Senate Prepares to Vote on “Fast Track,” Here’s a Quick Primer on the
Dangers of the TPP, I noted:
Passing this corporate giveaway
masquerading as a “free trade deal” is a lengthy process; a process that begins
today with a Senate vote on Trade Promotion Authority (TPA), also known as
“fast track.” Passing TPA would be Congress agreeing to neuter
itself to a yes or no vote on a trade pact and ceding its power to amend
it. Even worse, it would give trade deals this expedited
process for six years, thus outlasting the current Administration, and
applying to other “trade” deals like the TTIP. Mind
you, TPA is being voted on while the TPP text remains completely hidden from
the public.
For more
information on TISA, let’s turn to the Huffington Post:
The latest leak purports to
include 17 documents from negotiations on the Trade In Services Agreement, -TISA- a blandly named trade deal that
would cover the United States, the European Union and more than 20 other
countries. More than 80 percent of the United States economy is in service
sectors.
According to the Wikileaks release, TISA, as the deal is known,
would take a major step towards deregulating financial industries, and
could affect everything from local maritime and air traffic rules to domestic regulations on
almost anything if an internationally traded service is involved.
“Today’s leaks of TISA (trade in
services) text reveal once again how dangerous Fast Track Authority is when it
comes to protecting citizen rights vs. corporate rights,” he added. “This
TISA text again favors privatization over public services, limits governmental
action on issues ranging from safety to the environment using trade as a
smokescreen to limit citizen rights.”
Moving along to the UK Independent’s coverage
of TISA:
Wikileaks has warned that governments
negotiating a far-reaching global service agreement are ‘surrendering a large
part of their global sovereignty’ and exacerbating the social inequality of
poorer countries in the process.
“In other words,
unaccountable private ‘trade’ tribunals would decide how countries could
regulate activities that are fundamental to social well-being,” Wikileaks said.
Basically, if you
think the corporate-fascist state is overbearing and oppressive now, you ain’t
seen nothing yet.
For related articles, see:
---
Julian
Assange on the TPP – “Deal Isn’t About Trade, It’s About Corporate Control”
---
Trade Expert and TPP Whistleblower – “We Should Be Very Concerned about What’s Hidden in This Trade Deal”
---
Trade Expert and TPP Whistleblower – “We Should Be Very Concerned about What’s Hidden in This Trade Deal”
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RT NEWS & SHOWS
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Worlds
Apart. Trading
Blows: Ft. Konstantin Sonin, Professor of Economics, Moscow Higher School of
Economics
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NEWS IN SPANISH
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PRESS TV
US
neocons seek 'global war' with Putin. Sun Jun 7, 2015 The agenda of the “maniac”
neoconservatives is to provoke a global war with Russian President Vladimir
Putin, says a writer and investigative journalist.
----
US
created ISIL to make 'perpetual war'. Sun Jun 7, 2015 The US has encouraged the
spread of the ISIL terrorist group in the Middle East to create a “perpetual
war” in the region.
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Israeli
warplanes strike Gaza Strip. Sun Jun 7, 2015 Israeli military aircraft
launch several airstrikes against the besieged Gaza Strip.
----
Merkel,
Hollande, Tsipras talk Greek debt. Sun Jun 7, 2015 German, French, and Greek
leaders hold a teleconference over the financial troubles Athens faces.
----
US:
Sanctions not deterring Putin . Sun Jun 7, 2015 The Pentagon chief says
sanctions against Moscow have failed to force Russian President Vladimir Putin
to back down in Ukraine.
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UN
sets date of Yemen peace talks . Sat Jun 6, 2015 The UN confirms a new date
for peace talks between Yemeni political factions and former regime officials.
----
Drone
strikes 'crime against humanity' . Sat Jun 6, 2015 US drone strikes carried out
in Muslim countries are a “crime against humanity” and a violation of
international law, says an analyst.
====
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