Citibank: World economy trapped in ‘death spiral’

The universe has patterns. Either go with the flow or pay later. Looks like we are “paying later.”

A serious recession would be terribly trying particularly in light of the geopolitical jockeying going on right now. Acute financial pressure, and it is already acute in some parts of the world, makes for instability. Leaders do stupid things when countries are in economic pain.

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Chuck Todd asks Senator Ben Sasse: What is a conservative? (And are American “conservatives” really conservative?)

I have become a big fan of Senator Sasse. His definition of “conservative” is I think right on the money. Though I would say that the term “conservative” doesn’t really feel right to me these days. I would argue that what is today called conservative, very limited government, rule of law, generally an affirmation of The Enlightenment in many respects, is actually quite forward thinking and not retrograde as the term “conservative” implies. I don’t think most “conservatives” want to conserve the massive and intrusive state which this country has been saddled with since the Wilson administration.

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Sanders Fundraises Off Goldman CEO Blankfein’s Comments

He should, and in this very narrow statement Sanders is almost correct. What Sanders does not mention however is that the reason Goldman Sachs acted the way it did, indeed why it COULD act the way it did in the lead up to 2008 was because its “greed” was facilitated by the Federal Reserve. The central planners wanted Goldman Sachs and the other banks to leverage themselves out. This was the goal. The Great Recession was created by the Federal Reserve,

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Goldman (Government) Sachs Says It May Be Forced to Fundamentally Question How Capitalism Is Working (Funny, Goldman doesn’t like capitalism anyway)

Goldman was President Obama’s number 1 private contributor in the 2008 election.

Goldman should be dead. Door knob. A chapter in American finance history, but a chapter about the past. It should no longer exist. It is not an example of American capitalism. It is crony capitalism at its worst. It is a bailout bank. It took from you because of its mistakes and “profited” with ill gotten funds. You kept Goldman Sachs alive. The government gave you no other choice.

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What is The War on Cash? Why should we be concerned? Will cash soon be banned? Will your pay soon be locked within the banking system? (VIDEO)

Joe Salerno, Pace University economist and Mises academic vice president explains why we should be very concerned with the emerging war on cash. This is a concept with which all of our readers should be at least somewhat familiar. It will affect your life and it is becoming an important issue very quickly as the world economy appears to be trending downward.

The war on cash is a war on everyday people.

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The Fed wants to see what happens if it moves to negative interest rates

It wants to see via a “stress test” of banks. But even with the Fed raising a quarter point recently, so called liftoff, the general trend globally is in the opposite direction. Japan just moved to negative rates. There are smatterings of negative rates to be found throughout Europe. Canada is playing with the idea of negative rates.

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The Truth About Politics

A reminder from Lew Rockwell of the true nature of the state. The government facilitates cronyism, it doesn’t listen to you, it takes your money for itself and its crony allies, it wages wars which need not be waged, it is not – you and me. It serves its own purposes first. We are at best second thoughts. (We are actually thought of quite a bit, but primarily as nuisances.)

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Steve Forbes Speaks Out on the Presidential Race, Fed Recklessness, and Gold

Mr. Forbes’s views are his own and do not necessarily reflect the views of ACC.

Mike Gleason, Director, Money Metals Exchange: It is my great privilege to welcome Steve Forbes, Editor-in-Chief of Forbes Magazine, CEO of Forbes, Inc. to our Money Metals Exchange podcast. Steve is also author of many fabulous books,

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Why (some) millennials are embracing socialism

The author of the attached article, the former CEO of Office Depot Steve Odland, is right on the money. In the face of a deeply crony economic and political system, one which walls off opportunity for many while unfairly rigging the game for the few, it is natural for relatively politically unsophisticated young people to bend their ears to the siren song of socialism. That crony capitalism is itself a form of socialism in many regards is lost unfortunately on many.

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Does Goldman Sachs have a candidate in the presidential race?

Goldman Sachs, AKA Government Sachs, is very active politically. It has sought systematically to get its people into positions of power around the world.

The second best thing to do after having one of the bank’s own in positions of power from the bank’s perspective is to give piles of money to politicians who are likely to be friendly. (Or can be swayed to be friendly.) This is what they did for example with Barack Obama in 2008.

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America Will Spend More on Taxes than Food, Clothing, and Housing Combined (Graphic)

This should not be in the “land of the free.” It is a sad graphic. And remember, much of your tax money is siphoned off by the cronies in industries which are connected and by those in government itself. You are basically an annuity.

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“If Assets Remain Correlated, They’ll Be A Depression”: Ray Dalio Says QE4 Just Around The Corner

Lovely Davos.

I heard this interview this morning in the car as I drove my kids into school. Mr. Dalio makes the point that nearly everything went down last year. (With the exception of Bitcoin.) He argues that if this continues, all asset classes moving down together, we’ll be looking at a “depression.”

That’s why he thinks the Fed will turn on its heels and ease and then print.

There appears to be no way out of this thing other than to let markets correct to proper levels.

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Central Planners Freaking Out about Discussion of Gold’s Role

By Clint Siegner, Money Metals Exchange

Sound money issues make for good politics these days. The leading Republican candidates have all suggested reforms to our monetary system. The topic is popping up in debates as well as interviews. Predictably, Fed worshippers and proponents of central planning everywhere are snickering and trotting out the usual responses.

Michael Hiltzik, with the Los Angeles Times,

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“Old dog” of Wall Street: “It is very similar to what you get before you slip into a crisis”

I am speaking of Art Cashin, UBS guy, and CNBC talking head. And when I say “old dog” it is meant as a compliment. As in the old dog who has seen lots of young dogs come and go. I find his analysis valuable often. Some do not. (Or say they don’t.) I guess I just have a soft spot in my heart from reading his column back when I was first introduced to the world of finance. He always wrote about the “old days”

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