Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
Part 3 of a series on Hamilton: "Hamilton’s Good for the Ten-Spot" and "Alexander Hamilton: Defender of Property Rights."
Just as US equity futures were about to roll over following some very substantial misses yesterday by the likes of Google, Microsoft, Starbucks and a plunge in Visa shares, overnight who came to the markets' rescue but the BOJ, when shortly after midnight Bloomberg reported that "according to people familiar with talks at the BOJ" which is the traditional keyword for a BOJ source testing out the market's reaction, Japan's central bank may "help" local banks to lend by offering a negative rate on some loans.
Wolf Richter www.wolfstreet.com
Another retailer is heading for bankruptcy. This time Aeropostale, with 800 teen-clothing stores, after three years in a row of losses. It’s “preparing to reorganize under a Chapter 11 bankruptcy, and could file as soon as this month, according to people familiar with the matter,” Bloomberg reported today.
After warning last year of a "practically unavoidable" hard-landing to come in China, George Soros unleashed his central-planner-crushing self last night on the great red ponzi. As we noted last night, Soros warned the "parabolic" rise in credit is very worrisome, and "eerily reminiscent of US in 2007-8," specifically adding that "most of the money that banks are supplying is needed to keep bad debts and loss-making enterprises alive." Soros' full discussion can be found below...
Submitted by Simon Black via SovereignMan.com,
I’ll start with a confession.
Based on the returns I’ve just prepared for 2015, my tax bill for the year amounts to exactly $0.00.
In fact, for the second year in a row, I legitimately owe zero tax. And I’m damn proud of that.
(And no, it’s not from any illegal tricks. I’ll explain how I did it later.)
Not a shred of my efforts goes to help finance bombs, wars, debt, and utterly useless waste.