Business

Former Google CEO Eric Schmidt is to head the Pentagon’s new Innovation Advisory Board. The board will consist of 12 members that would be hand-picked by Defense Secretary Ashton Carter and Eric Schmidt. The cosy relationship between Google and the government is worrisome, according to Wikileaks founder and whistle-blower Julian Assange. Sputnik reports: On Wednesday, the Defense Department announced that former Google CEO Eric Schmidt will head the Pentagon’s new Innovation Advisory Board.

Via SchiffGold.com,

In his most recent Gold Videocast for SchiffGold, Albert K Lu interviewed John Rubino, founder of DollarCollapse.com. Rubino had a pretty compelling explanation for why there wasn’t a massive, sustained economic collapse a decade ago, and why he thinks it’s still lurking on the horizon.

In his latest note tited "The Calm before The Storm", Nomura's traditionally downcast Richard Koo is not too excited about the market's future prospects, in fact quite the opposite and makes the point that since QE was no game changer, not only is there no clear way out, but "the price for QE has yet to be paid."

What does that mean for risk assets:

This is the email that David Little, Chairman and CEO of Houston-based DXP Enterprises sent to his employees to explain why, "due to bank obligations and to continue a positive cash flow profile" the company has to freeze 401(k), why it is cutting pay in some cases as much as 60% and  why many employees are about to lose their jobs in the middle of what is an "oil and gas depression." It is a disturbing read.

Dear DXPeople,

 

And the revelations just keep on coming.

One day after the St. Louis Fed spent thousands in taxpayer funds to "discover" that, gasp, "consumers across the country are borrowing more to buy cars and go to school", yes really...

Consumers across the country are borrowing more to buy cars and go to school https://t.co/mkKAoVya2o pic.twitter.com/DxMiHo7kki