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ECONOMICS
It’s one of the most exciting, most incredible charts in human history…
Unfortunately, it’s also one of the scariest...
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The
truth is the rich are getting richer and everyone else is losing ground as
inflation chews through stagnant incomes and rising debt loads stripmine
disposable income. Bought and
paid for cheerleaders for our failed, corrupt status quo will always hype
bogus, purposefully misleading statistics - but
don't mistake fakery for fact.
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While 'everything was awesome' this morning in stock market land
(economic data, Fed uncertainty, and domestic terrorism aside), the more troubling
reality under the surface of the equity market's gains is a plunge in 52-week
highs... a divergence which spelled big
trouble the last time it occurred.
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Thanks to overnight exuberance in oil (via Venezuela) and the seemingly
ubiquitous buying that occurs after every terror attack (see Paris for the
best example), US equities have retreated back into the
red - led by NASDAQ (AAPL batteries' exloding rumors) - as quad-witching
shenanigans have given way to pre-Fed anxiety (despite a 9% chance of a
rate hike this week)...
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SLOWLY...
THEN ALL AT ONCE Must read
We’re on
a collision course with these stark realities. The rackets and swindles unleashed in our futile quest to keep up
appearances have
disabled the financial operating system that the regime depends on.
…
As is usually the
case with troubled, over-ripe societies, these elites have begun to resort to
magic to prop up failing living arrangements. This
is why the Federal Reserve, once an obscure institution deep in the background
of normal life, has come downstage front and center, holding the rest of us
literally spellbound with its incantations against the intractable ravages of
debt deflation. (For a
brilliant gloss on this phenomenon, read Ben Hunt’s essay “Magical
thinking” at the Epsilon
Theory website.)
One way out of this quandary would be to substitute the word “activity” for “growth.”
.. None of these
alt-activities would be classifiable as “growth” in the current mode. In fact, they are consistent with the reality of contraction.
And they could produce a workable and satisfying living arrangement.
The rackets and
swindles unleashed in our futile quest to keep up appearances have disabled the financial operating system that the regime
depends on. It’s all an illusion sustained by accounting fraud to conceal
promises that won’t be kept. All the mighty efforts of central bank
authorities to borrow “wealth” from the future in the form of “money” — to “paper over” the absence of growth — will
not conceal the impossibility of paying that borrowed money back. .. The stocks are not worth what they pretend. The bonds will never be paid off. The currencies will not
store value. How did this happen? Slowly, then all at once.
We’re on a collision course with
these stark realities.
THIS ART CONTINUES..
OPEN :
It ends with this
sentence:
In history, elites commonly fail
spectacularly. Ask yourself: how could these two ancient institutions, the
Democratic and Republican parties, cough up such human hairballs? And having
done so, do they deserve to continue to exist?
And if they go up in a vapor, along with incomes and savings, what happens next?
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Overnight exuberance on the back of comments from
Venezuela's Maduro that an OPEC freeze deal was "very close" are fading fast. Oil prices
are retracing the "positive discussions" spike, but for now stocks
are not giving too much back (yet).
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The 2014 plunge in oil prices was initially hoped to provide stimulus to the U.S. economy, with the Fed arguing that the average household
would save $700 in fuel costs. A new
paper from the Brookings Institution suggests otherwise.
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The bad news for Wells Fargo CEO John
Stumpf keep getting worse. After it was reported that Stumpf was expected to
testify before Congress this week, over the weekend we learned America's largest mortgage lender and until recently the
largest bank by market capitalization, was sued on Friday by customers who accused the bank of fraud and recklessness
for its behavior.
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Stocks across the board, and US equity futures
are broadly in the green this morning as markets shrug off the
terror-related events in the NYC area over the weekend. There wasn’t a
single positive “reason” for the green price action but fears about the bond “tantrum” appear to be fading while a stronger dollar
helped push oil and the commodity complex higher.
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POLITICS
New discovery finds "Oh Shit" guy sought tech advice in July 2014, 5
months before Hillary delivered emails to the State Department, on how
to "strip out a VIP’s (VERY VIP) email address
from a bunch of archived email." Could someone within the FBI
please explain how this does not constitute "intent"?
RELATED:
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The President is shocked at how
close the election has become. Having seemed to be try
to shame the black community into voting for Hillary (calling it a
"personal insult"), CNN
reports that President Obama has found another scapegoat - blaming "misinformation" from right-wing websites
for the "nail-biter."
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The US does not tolerate gender,
religious, color, ethnic or race discrimination. But what will Hillary do for
Muslims in return that Trump would never have been able to do? You guessed it – start a Shia-Sunni civil war. For her it’ll
be a simple matter, exactly what she did in Libya.
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Two more on the terrorist empire
1-
Thanks to the US support of
Saudi Arabia's war in Yemen, which has included not
only the bomb recently used on a MSF hospital, but also supplies of white
phosphorus, over 3,700 civilians have been killed and some 2.8 million
displaced. Since coming to office seven years ago, the Obama administration has
made over $115 billion worth of arms sales to the Saudis – more than any
other US presidential administration.
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2-
A GLOBAL VIEW ON FUTURE FASCISM
Introduction by Hugo Adan
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ME & WORLD ISSUES
"Increased state support for terrorists hostile
to Syria has recently presented itself in the form of naked American aggression
against one of the Syrian army positions in Deir ez-Zor in favor of the
interests of the [Daesh jihadist group]," Assad said and added that "countries
hostile to Syria increase their support for terrorism as Syria succeeds in
liberating territories and signing ceasefire agreements."
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"I think what's going on in China is troubling ... some of the
valuations there are really quite extraordinary... We've double checked these numbers about seven times, because
I found them quite hard to believe."
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Things are going from worse to worst once again for Deutsche Bank as equity
and credit markets deteriorate further as analysts warn Germany's biggest (and the world's most systemically dangerous) bank would
be "significantly
undercapitalized" even if an eventual settlement with the DoJ can be
covered by the bank's reserves. Despite multiple capital raises
over the past few years, as Bloomberg notes, any likely
settlement would imply a capital
increase - just to pay the fine.
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European stocks attempted breakouts of key short and longer-term trend lines
earlier this month. Despite today's gains, each of them appear to be failing.
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- Global Stocks Rise, Buoyed by
Commodities (WSJ)
- For Yellen, a September Fed surprise
could close confidence gap (Reuters)
- Robot detonates New Jersey device in
latest bomb discovery (Reuters)
- Syria Truce Hangs in Balance Amid
Attacks, Lack of Aid (WSJ)
- Merkel’s Party Suffers Worst Berlin
Loss of Postwar Era (BBG)
- China’s Home Prices Rise Most in Six
Years as Sales Gain (BBG)
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DEMOCRACY NOW
Two-Party
Tyranny: Ralph Nader on Exclusion of Third-Party Candidates from First
Presidential Debate
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GLOBAL RESEARCH
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Obama
is Protecting the Terrorists, America to the Rescue of ISIS-ISIL-Daesh.
Testimonies of Syrian Soldiers Who Witnessed the US Airstrikes By Prof Michel
Chossudovsky
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Protest
Movements against the Atlantic Trade Agreements, A Threat to Democracy: “Stop
TTIP and CETA”, Demonstrations in Germany By Zain Raza,
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THE REAL NEWS NETWORK
Pulitzer
Prize-winning journalist Chris Hedges discusses the Manhattan bombing and the
lack of media coverage of the impact of U.S. wars abroad
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Record
US Aid to Israel Reflects Growing Influence of Military-Industrial ComplexIsrael is likely to increase its arms
exports now that it cannot use the aid on its own weapons industry, says Col.
Lawrence Wilkerson
Black Agenda Report's
Glen Ford says the Democrat's attempts to get out the black vote for Hillary
this election might not work
In an interview with
Sharmini Peries, Baraka discusses Black Lives Matters, the Flint water crisis,
shelter, immigration, and more
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INFORMATION CLEARING HOUSE
Don't Lecture Me From London About What's
Happening In Syria Must Watch – Video
"My people are
being massacred by Western forces in support of terrorists."
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Israel has been of
no tangible strategic benefit to Washington.
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How British
politics is influenced by supporters of a foreign power
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No institution in
America can any longer be considered truly democratic.
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Let’s imagine that
Congress decides to legalize all drugs and guns overnight:
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Don’t believe
something just because you want to believe it so badly.
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COUNTER PUNCH
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Martha Rosenberg Five
Ways You Are Subsidizing Big Meat Without Knowing It
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Dave Lindorff Time
to Mandate a Return to Paper Ballots Nationwide
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RT SHOWS & SPUTNIK
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Syrian Army Destroys Leading al-Nusra Front Unit in Aleppo https://sputniknews.com/middleeast/20160920/1045491008/syrian-army-destroys-nusra-unit.html
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Clinton Backer Breaks From Candidate: US Owes Snowden Huge
'Debt of Gratitude’ https://sputniknews.com/us/20160920/1045489805/clinton-fundraiser-supports-snowden-pardon.html
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Risky Consequences of Coalition’s 'Mistaken' Airstrike on
Syrian Army https://sputniknews.com/politics/20160919/1045473635/us-attack-syrian-army.html
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NOTICIAS IN SPANISH
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Monsanto-Bayer y el control digital de la
agricultura Silvia
Ribeiro
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Qué se puede aprender en México de Argentina y
Brasil? Guillermo Almeyra
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Napoleón, Hitler y ¿el Tío Sam?: 5
razones por las que EE.UU. será derrotado en una guerra con Rusia
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PRESS TV
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Stupid war-monger..
Does she knows how many military stations UK have worldwide?
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Her big-Corp networks
are clear sign that Fascism is coming with her to America
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