"The greatest danger to the State is independent intellectual criticism."

-Murray N. Rothbard

In the teenage movie, Wayne's World, Garth and Wayne are lying on the hood of the Mirth Mobile and staring up at the stars.  Garth whistles the theme to Star Trek, then he says, "Sometimes I wish I could boldly go where no man has gone, but I'll probably stay here in Aurora."  Many of us are like Garth, wishing to be bold, and maybe even revolutionary.   

Just when you thought it was safe to go short...

Yesterday stock prices here in the States did little other than mark time, and following the material selling earlier this week the fact that the best that the market could do was this is ominous indeed. We used the term “bear market” yesterday in our commentary for the first time in a very, very long while and we used it with intent, for in the past we’ve often said that we had turned “neutral” of stocks noting that in a bull market the most bearish position one can have is neutral.

 

Courtesy of Stratfor

A Mysterious Death Raises Questions in Russia

Intrigues within the Kremlin reignited Monday after the chief of Russia's military intelligence service, Igor Sergun, died unexpectedly. Sergun was a relatively unknown figure who kept a very low profile over his 30-year career, despite the fact that his position at the head of the Main Intelligence Directorate (GRU) of the General Staff of the Armed Forces made him one of the most powerful figures in Russian security.

Once upon a time there was a cute, if amusing and terribly disingenuous debate among those who have never actually traded but pretend to know finance, about what QE and "unconventional policy" actually was. "It's an asset swap" they said, "it's not printing money" they said.

An investigation into dodgy dealings by fatcat bankers has been quietly axed. The decision by the Financial Conduct Authority, has sparked outrage and has been labeled a “a huge blow for taxpayers” and “a slap in the face for ordinary people”. The investigation was dumped as the FCA said other measures were in place to tackle wrongdoing,  but many see Osborne’s decision to sack the head of the FCA for wanting to be too tough on bankers as a critical reason. The Mirror reports: Early in 2015 the FCA announced plans to review banking’s culture.