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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A Furious Ralph Nader Calls Out The Fed As “Tribune To Plutocratic, Crony Capitalism”; Janet Yellen Responds

We have a few really liberal (the American “modern” kind) favorites and Ralph Nader is one of them.

We like him not because he agrees with us on everything, he certainly doesn’t, but he has a moral compass. He has a deeply developed sense of right and wrong. This is something too many in the political world both on the Left and Right simply do not have.

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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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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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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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China slowing, global oil glut, tanker after oil tanker lining up in the Gulf of Mexico waiting to unload

Image: Zerohedge – The red dots are oil tankers just hanging out waiting to unload in Texas.

Yes the Saudis have been trying to take down the American fracking oil industry and probably the Russians too. (With much success to date at least in the USA.) But this glut of oil is not only the result of our Middle Eastern “friends” turning on the oil spigots. It is also because the world’s second largest economy, China, is slowing and likely will continue to slow.

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Tim Carney: Republicans are becoming the anti-cronyism party

We’ll see about this. Politicians like to talk. But Carney is absolutely correct, the issue is front and center with Republican candidates because it is front and center with Republican leaning voters (but certainly not ONLY with Republican leaning voters which is very important.) Many of the GOP candidates have indeed gone on the record as opposing crony capitalism. Others know that their history of supporting cronyism, or engaging in it directly, is a liability. As it should be.

This embrace of the crony capitalist critique is potentially a very important development for the party.

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Charles Koch: We are doling out welfare for the wealthy

For decades “conservatives” have bemoaned welfare generally, but most of the attention has been on conventional welfare for the poor. And this area of public policy deserves more scrutiny and radical reform. The welfare laws in this country are seriously messed up and have done much to erode the underpinnings of American society. We have created a taxpayer subsidized underclass in this country.

But conservatives have, at least until now, largely ignored the subsidized “overclass” which has emerged in recent years.

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The War on cash is on: Apple CEO joins fight against economic privacy

Get it?

The central banks want cash dead. Now the industry giants are getting on board. Soon cash will be gone and the last vestige of any economic privacy will go with it. From birth to death each purchase or investment you make will be “on the record.”

Turn in your Federal Reserve notes folks, because even paper is too tangible for the big shots now. The shamans want a wash of digits, which can be tracked, and cut off if need be.

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Does the Bell Toll for the Fed?

By Ron Paul

Last week Federal Reserve Chair Janet Yellen hinted that the Federal Reserve Board will increase interest rates at the board’s December meeting. The positive jobs report that was released following Yellen’s remarks caused many observers to say that the Federal Reserve’s first interest rate increase in almost a decade is practically inevitable.

However, there are several reasons to doubt that the Fed will increase rates anytime in the near future. One reason is that the official unemployment rate understates unemployment by ignoring the over 94 million Americans who have either withdrawn from the labor force or settled for part-time work.

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Doubters question ‘strange’ stock market rebound

You can definitely put us in that camp. Seems ever since China started locking away short traders in gulags (not an exaggeration) while the Chinese central bank proceeded to literally buy the Shanghai market to keep it afloat, things have chilled out a bit. In fact many world markets (including ours) have had a nice rally through the often stormy month of October. So now with those pesky “speculators” locked away in a dungeon somewhere and the press thoroughly informed that they had better report official Chinese numbers instead of those oh so annoying “real”

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