Authored by David Stockman via Contra Corner blog,
The financial system is loaded with anomalies, deformations and mispricings - outcomes which would never occur on an honest free market. For example, the junk bond yield at just 2% in Europe is now below that of the "risk-free" US treasury bond owing solely to the depredations of the ECB.
Here’s a live transmission from the Texas courtroom where JP Morgan Chase & Co’s lawyers are asking a judge to throw out one of the largest punitive judgments in legal history...
In what appears to be an expertly timed exercise in fearmongering less than two weeks after the horrifying Halloween terror attack in lower Manhattan - the deadliest attack in America’s financial center since 9/11 - the Department of Homeland Security has issued a bulletin warning the public about the risk of drones being used to facilitate acts of terrorism.
Authored by Umair Haque via Eudaimonia blog,
When, in the 1930s, the great economist Simon Kuznets created GDP, he deliberately left two industries out of this then novel, revolutionary idea of a “national income”: finance and advertising.
Authored by Chris Martenson via PeakProsperity.com,
While turbulent during the best of times, gigantic waves of change are now sweeping across the Middle East. The magnitude is such that the impact on the global price of oil, as well as world markets, is likely to be enormous.