AUG 23 SIT EC y POL
I was interviewed on
Ellen Brown’s radio show “It’s Our Money”, where she writes: Is the financial
deprivation of entire nations engendering a new level of frustration and
political unrest? Are the unlikely top-ranked US presidential candidates a sign
that the Europeans aren’t the only ones who want to “throw the bums out?” Ellen engages
these emerging political themes in her conversation with renown author, advisor
and Economics professor Michael Hudson, just back from his consultations with
Greece’s Syriza party.
ZERO HEDGE
Global
Trade In Freefall: Container Freight Rates From Asia To Europe Crash 60% In
Three Weeks. Submitted by Tyler
Durden on 08/23/2015
Three weeks ago, "something
just snapped." Now, it is getting worse by the day.
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After the Bloomberg commodity index crashed overnight,
having tumbled for each of the past 4 years, this happened: BLOOMBERG
COMMODITY INDEX SLIDES TO LOWEST LEVEL SINCE 1999
Said otherwise, the lowest level in the 21s centiry.
Yup, rate hike any minute now.
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Anyone who listens to a mainstream media pundit,
talking head, or spokes bimbo deserves the reaming they are going to receive.
“There is no means of avoiding the final collapse
of a boom brought about by credit expansion. The alternative is only
whether the crisis should come sooner as the result of voluntary abandonment of
further credit expansion, or later as a final and total catastrophe of the
currency system involved.” – Ludwig von Mises
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Chinese
Stocks Plunge: Shanghai Composite Goes Red For The Year, Wiping Out 60% In
Gains. Submitted by Tyler
Durden on 08/23/2015
But... but... pension
funds are "allowed" to buy stocks. Judging by the first few
minutes of trading in the first thing to open this evening on the mainland, the
CSI 300 Index Futures which immediately tumbled by 4% to 3340, China's attempt
to deflect attention from the fact that it did not do a
50-100 bps RRR cut is not doing too well. READ ALSO:
Crude
Snaps Below $40 : Gartman Stopped Out Of Oil Long : Normally this would
mean going long, however in this case China has yet to open and following the
disappointment of no RRR-cut, tonight's commodity carnage may just be
beginning. AND THIS: No
Greatly Anticipated RRR Cut From China, Just More Jawboning: Will It Be Enough
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"Long,
Slow, And Painful": Barclays Documents The End Of The Commodities
Supercycle. Submitted by Tyler
Durden on 08/23/2015
"It is an old
saying in commodities that the best cure for low prices is low prices. Market
participants are now asking how much further prices need to fall and how long
they need to stay there to bring supply and demand back in to balance and halt
the price declines across a broad swathe of different raw materials markets.
The fear is that just as the upside of the supercycle brought an unprecedented
and long period of historical price highs, the plunge to the downside is
shaping up to be equally dramatic and may yet have a way to run."
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What makes a market
is having differing opinions at nearly all times. It is therefore educational
for people caught off guard last week to see -once more- that markets
can drop at a savage speed (as opposed to the overall magnitude), regardless of
whatever foggy economic situation we are in (or market
participants believe them to be).
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Stocks aren’t quite as immune to financial disruption in
the middle of 2015 as they had been previously. We are starting to see the legend of QE fade
into nothing more than memory, exposing all these “markets” to the very real
dangers of the fundamental economy, globally, that never joined the hype. Does
that mean QE4,5, or 6? It might, but at this point is there any illusion left?
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The world’s poorest
countries are not characterized by naive trust in capitalism, but by utter
distrust, which leads to heavy government intervention and regulation
of business. Under such conditions, capitalism does not thrive and
economies remain poor. Pope Francis is right to focus attention on the plight
of the world’s poorest. Their misery, however, is not the
consequence of unbridled capitalism, but of a capitalism that has been bridled
in just the wrong way.
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Government
Gives Away Billions In Grants To Students Who Never Graduate. Submitted by Tyler
Durden on 08/23/2015
Want further
evidence of the misappropriation of taxpayer funds to post-secondary education?
Look no further than the Pell grant program.
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This
Wasn't Supposed To Happen: Crashing Inflation Expectations Suggest Imminent
Launch Of QE4. Submitted by Tyler
Durden on 08/23/2015
The last three times
inflation expectations tumbled this low, the Fed was about to launch QE1, QE2,
Operation Twist and QE3.
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Economics is dead, and economists killed it.What we have seen over the course of the last
eighty years is a systematic dismantling of the contribution of economics to
our understanding of the social world.But apparently what is dead can be
killed again.
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Debt
Is Good: For Funding The Greatest Participation Trophy Ever Created. Submitted by Tyler
Durden on 08/23/2015
As the capital
markets from Shanghai to New York were melting down in ways hearkening back to
the early days of the prior financial crisis - a period of time many would like
to forget (or act) as if it never happened - the Nobel Laureate economist Paul
Krugman decided it was time once again to weigh in with what will surely be
viewed by the so-called “smart crowd” as a brilliant perspective on what ails
the world: Not enough debt. He came out blazing with what
seems the only bullet in his arsenal as a cure-all for what
ever the ailment might be (e.g., debt.) as he argues this view in his
latest: Debt
Is Good.
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Following the end of
a horrible week for petroleum importers (not to mention shale producers)
despite WTI briefly dipping under $40 (wasn't this supposed to be great news
for the US economy?) we have the start of a just as ugly week for the Persian
Gulf oil exporters, whose Sunday market open can be described as a continuation
of last week's broad risk carnage, and where Saudi Arabia, until recently the
region's best performing market, is now down 10% for the year and down 30%
compared to 12 months ago. READ ALSO: Saudi
Arabia Faces Another "Very Scary Moment" As Economy, FX Regime Face
Crude Reality
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INFORMATION CLEARING HOUSE
US Shows its
Real Face in Choosing Turkey over the Kurds. By Joris Leverink
The U.S. is showing
that defeating the jihadists might in fact not be its number one priority
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Division
30, Trained and Funded by the United States . By Jenan
Moussa
Duplicitous,
schizoid, two-faced, are some of the phrases to describe Washington’s mindset
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Kissinger called for
the West to stop backing Kiev at all costs, even as the victims of the conflict
pile up
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Misinformation
Hides Real Dimension of Greek “Bailout”. By Roberto Savio
All but seven
percent of the 86 billion euros will go to pay debt with the other European
governments, the country’s citizens will see none of it.
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Central
Banks Have Become A Corrupting Force. By Paul Craig Roberts and Dave
Kranzler
Is the stock market
decline of August 20-21 welcome or unwelcome?
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GLOBAL RESEARCH
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Syria
Shoots Down Israeli Warplane F-16 Bomber, Using Russian S-300 Air Defense
System. READ ALSO; Syrian
Army Shoots Down Israeli Fighter Jet over Quneitra
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NEWS IN SPANISH
La desinformación como estrategia de Monsanto y
compañía. Renzo D Alessandro
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La colonización occidental, el mayor cataclismo
demográfico de la historia de la humanidad. René Naba
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VIENTO
SUR : Boletín informativo semanal nº 193:
Entrevista
| Katerina Sergidou (Syriza). "El sistema quiere que sea Tsipras quien aplique el rescate en
Grecia" Leer más
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¡Nace
"Unidad Popular"! Esta mañana, a primera hora, 25
diputados de Syriza abandonaron el grupo parlamentario del partido para crear
una nueva formación bajo el nombre de "Unidad Popular". La mayor
parte de estos diputados están afiliados a la Plataforma de
Izquierdas, (...) Leer más
PRESS
TV
US
confirms explosion at military base. Sun Aug 23, 2015 The United States has confirmed reports of a thunderous
explosion at one of its military bases in Japan.
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‘US
backing of cluster bombs despicable’ Sun Aug 23, 2015 The US State Department’s comments indirectly backing
the use of cluster bombs by Saudi forces in Yemen are “very despicable,” a
geopolitical commentator in Missouri says.
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‘US
won’t have middle class very soon’. Sun Aug 23, 2015 Frontrunner Republican presidential candidate Donald
Trump says the current US system is destroying the middle class and soon it
will cease to exist.
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Yemen
forces seize Saudi military bases. Sun Aug 23, 2015 The Yemeni army, backed by popular committees, has taken
control of at least two Saudi army bases in the border region of Jizan.
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