Authored by Charles Hugh-Smith via OfTwoMinds blog,
What will replace the current system after it self-destructs? That's the question.
You know those disclosures on your credit card statements? That it will take 27 years to pay off your balance if you only make the minimum payment each month, and so on?
You might not be aware of it, but America's "credit card"--our national debt--comes with its own disclosure statement:
Authored by Nicholas Colas via ConvergEx,
A new piece of legislation recently introduced in California, Assembly Bill (AB) 946 or the "Resist the Wall Act," would require the California Public Employee Retirement System (CalPERS) and the California State Teachers Retirement System (CalSTRS) – the nation’s first and second largest pension funds - to liquidate within 12 months any investments in companies involved in the construction of President Trump's "Wall of Shame". The bill also requires the two pension funds to report to the Legislature and the Governor by January 1, 2019 with a list of compa
Former Goldmanite and current Minneapolis Fed president, Neel Kashkari, conducted another #AskNeel session on Twitter where the dovish FOMC voter (he was the only one to dissent in last week's rate hike decision) received numerous question. Among them was the following one from Zero Hedge:
.@neelkashkari You recently admitted the Fed has a "third mandate." What is the biggest S&P drop the Fed will accept before intervening?
— zerohedge (@zerohedge) March 21, 2017
His response:
Just ten days after the US Attorney for New York, Preet Bharara was fired by Donald Trump, prompting speculation if he was working on a probe of Trump himself when he was terminated and further speculation which employer would imminently retain Bharara's services, moments ago the former attorney gave the answer: he is joining the NYU School of Law.
Proud to join NYU School of Law https://t.co/noscBDHVk2
— Preet Bharara (@PreetBharara) March 21, 2017