4.9 Percent Unemployment Can’t Be True Amid 15 Percent Food Stamp Participation Rate

Animal spirits in the Year of the Monkey?

Most of our readers will probably agree with this statement. Let’s face it, the “jobs number” is arguably the most politically massaged economic number there is. There have long been questions about its validity but now with the rate at an extremely low 4.9% the number just feels absurd.

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Money is Fleeing the Ultimate Crony Capitalist State, China, and it is Destabilizing

“Even I keep my money in Switzerland these days.”

China is not such a good place to keep money medium to long term as it turns out. The wealthy in China are “deeply distrustful” of policy makers. As such many are getting out of China if they can. Beijing is concerned, probably panicking in light of all of the money which is flowing out of the country. And as China is in many respects a black box (perhaps a grey box) people with money can only assume that things are bad and so that compounds the Chinese “problem.”

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European banks near ‘terrifying’ crisis: Raoul Pal (VIDEO)

Sure, “European banks.” All banks.

People in America are just plugging along seemingly oblivious to the storm which continues to gather strength overseas and in some cases is already buffeting the United States. It is foolhardy. We have just gotten used to the new post-2008 lower standards of living in this country and we want to think that the global depression which started in 2007-2008 is all over. It’s not.

Will the world go to hell in a hand basket tomorrow?

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And another little bit of the college bubble pops, Penguin Publishing drops degree requirement

I think college has quite a lot of value for many people. It certainly was valuable for me. (In oh so many ways.) But college costs, driven by easy money from the government, have gotten out of hand. The value per dollar at many institutions is not as attractive as it once was. We now have a generation of middle class kids saddled by debt. They start life with what are essentially mortgages hanging around their necks, and they don’t even have a roof of their own to sleep under for the “mortgage.”

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And now a clip of Bernie Sanders taking Hillary Clinton to task (at the debate) for the $600,000 she’s taken from Goldman Sachs in the past year (VIDEO)

We have no horse in the presidential race as we often say but we sure have an issue with Government Sachs, the bank which long ago should have died but was saved by virtue of its connections in government. (Not the only bank.) The bank then, post-2008 went on to expand further around the world all fresh and “recapitalized.” (Recapitalized with your money.)

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Obama wishes that he was FDR, Thank God he’s incapable of doing what FDR did

To our liberal friends out there I ask for your indulgence. I have been thinking quite a lot about the presidency over the last couple of days and the power we have vested in the institution. (Or perhaps more accurately the power that has been taken by the institution.) 

Presidents always seem to want more power. Republican or Democrat this has been true. But I think this has been particularly true for our current president.

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Remy: Students United (Tuition Protest Song) – And the real reason college costs so much

We know debt’s a killer. Yet you still took out $100,000 in loans? – Sounds like a you issue to me.

Lord knows we are against rising tuitions. It’s a basically a racket. The government provides easy credit to 18 year olds who’ve never had a job, a credit card, or paid rent. Those thousands of subsidized dollars then flow to universities which are top heavy with administrators and which are eager to build new gyms etc. Tuitions inflate because of this easy credit.

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The “American Dream” is Over–and Voters Know It

I don’t always agree with Charles Hugh Smith but I very often do. He is someone people who care about the economy and politics should read regularly.

Look, the American dream can’t happen with central banks acting the way they have and the federal government regulating the real, productive, private economy to death.

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Blowback: The Washington War Party’s Folly Comes Home to Roost

“Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win”
Sun Tzu, The Art of War

Some of the folks in the Military Industrial Complex would be wise to revisit the lessons in this book. Of course much of the Art of War is about being frugal with resources. The contractors aren’t too keen on that.

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Speaker Boehner Readies Final Sellout As Debt Ceiling Debacle Looms

By Stefan Gleason

It’s campaign season, and that means non-stop media coverage of candidate polls, quips, gaffes, tweets, emails, controversies, lies, and scandals. It all makes for a good soap opera. Unfortunately, it’s almost all irrelevant in the big picture.

The media prefer to focus on the sideshow rather than the 800-pound gorilla in the room: the looming debt crisis. Nothing that comes out of a pundit’s mouth or a Hillary Clinton email will close the $210 trillion long-term fiscal gap the U.S.

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Schiff: I’m right about the Fed, I’ll be right about stocks, “Economy rapidly decelerating”

3 bold statements just in the headline, but even CNBC granted that Schiff deserved to take what it called a “victory lap.”

Schiff argues that the Fed does not plan to raise rates at all because it can’t raise rates. 7 years ago with the start of ZIRP and QE Schiff says the Federal Reserve entered a “monetary roach motel.” That the Fed is now stuck. Which is of some concern to say the least.

It should be noted also that there seems to be a lot of talk about less than 0% interest rates as of late (LZIRP).

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