Bank Of America Forecasts No Recession Until 2027 (If Ever), Sees S&P At 3,500 In 10 Years

All I know is that the B of A economist was seen driving around in this before he wrote the report.

Mark this post. No recession until 2027. Whoopee! Take that to the bank! Bank of America that is! Happy days are here again. Good thing the always reliable economists can see 12 years into the future. I, seriously, feel so much better about things. Just wonderful.


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Statist Brookings Institution is afraid that people actually want a simplified tax code

I love this. The old fashioned 20th Century statism just drips from the attached piece. Vanessa Williamson, fellow at Brookings, arguably the most prestigious statist think tank in Washington, is afraid that people will actually like the idea of closing loop holes in the tax code. She recognizes correctly that if the tax code is simplified, if things are made more simple and more efficient, the government won’t be able to take as much from the citizenry. That is precisely  of course why we need to simplify the tax code.

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Poll: 1 in 3 Independent and Republican voters see the government as an “enemy”

Many people see the federal government as not reflecting their views at all. Some see the unending expansion of the state into every nook and cranny of life, and the gaming of the government by powerful corporate and political interests, as a real threat. Indeed that our massive government is encroaching on the things many Americans hold particularly dear, independence, for some – faith, economic liberty, liberty generally, privacy, and so on.

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Billionaire Paul Singer on Chinese downturn, could cause “Global central bank panic.”

Are we too pessimistic with regard to China? Perhaps, but who really knows. Seriously, who really knows. The data out of the Ultimate Crony Capitalist State is poor. It is politically manipulated. No one really has a hard sense of what’s actually going on, including probably the Chinese government to a large extent.

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First retail bank (that we know of) to apply negative lending rates to clients

If you want to keep money at Alternative Bank Schweiz you are going to have to pay for it. That’s right, keeping your Swiss francs under your mattress will generate a relative yield to the francs held at this bank. This is a knock on effect of the Swiss central bank trying to maintain parity with and independence from (ha) the euro.

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Governments Are the Worst Polluters

We’ve made this point many times on this website. You know why the Colorado doesn’t flow into the ocean? Why Chernobyl blew up? Why BP felt it was safe (from a business standpoint) to drill 1 mile below the surface of the Gulf of Mexico? Why rain forests are being depleted around the world? Why the Aral Sea is no longer a sea? Why oceans are toxic waste dumps? Why nothing lives in the rivers in China any longer?

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Perhaps the best 5 minute geopolitical and economics lesson you’ll ever see. From the movie NETWORK

Ned Beatty isn’t totally right here but there’s a good bit of truth in what he says. Regardless below is one of the greatest scenes in all of cinema and everyone should see it.

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Fed To Hold An “Expedited, Closed” Meeting On Monday

I actually look at it as a positive that they announced the meeting for Monday. If they had scheduled a weekend meeting (Remember those weekend Fed meetings in 2008? I sure do.) I’d be more concerned.

Still, I’d love to know what spurred this. I wonder…Could this be why?

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In major blow to Obamacare UnitedHealth looks to leave the system

Shocking that such a simple system is failing so badly.

Obamacare has been collapsing for a while. Actually pretty much since it started. A bunch of the state co-ops are dead. More are readying themselves for the grave. And now even the crony partners are starting to abandon the scheme. Indeed repeal may not even be necessary. Ironically the Obamacare experiment may long stand as a testament to one of pro-market economist FA Hayek’s key insights, The Pretense of Knowledge.

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The World’s First Cashless Society Is Here – A Totalitarian’s Dream Come True

I don’t use cash much, but I sure am glad it exists as an option. Governments and central banks however hate cash (they hate gold and silver far more, but they hate cash too) for various reasons.

Fundamentally cash puts just a bit of power into the hands of everyday people. Cash transactions are outside the scope of the big shots. They don’t like that. If the shamans are going to “control” the economy they can’t have anyone operating outside of their control.

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An excellent 5 minute video explaining* the players in the Syrian war (Plus what’s really going on there.)

Image: Mint Press News

War is fundamentally crony. There is death and destruction and despair for most, but for some people, companies, and governments there is money to be made too. Sometimes very big money indeed. The conflict in Syria is an example. It’s not really about religion and terrorism. (Though these are hugely important factors.)

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