Europe

Authored by Paul Craig Roberts,

Do you remember all the hopes Americans had for Obama when we elected him to his first term? Painful memories. He betrayed the voters on every one of his promises. There was no change, except for the worst as Obama went on to become one of the most vicious war criminals in world history. Despite his horrific record, we re-elected him, only to have US economic policy turn against the people in order to bail out at our expense the mega-banks and the One Percent.

A Southern reader who identifies himself as “Christian, Catholic, Republican, veteran (peacetime)” writes to say:

Submitte dby Jeffrey Snider via Alhambra Investment Partners,

Submitted by Satyajit Das (former banker and author of The Age of Stagnation),

The current financial market volatility increasingly reflects loss of faith in policy makers. Celebrity central bankers are learning that they must constantly produce new miracles for their followers.

First, the measures implemented since 2009 created an artificial stability and an asset price boom in many markets.

 

But the absolute rate of GDP expansion and level of price changes is inadequate to solve global debt problems.

There is some serious turmoil going on in credit, commodities, and FX.. but stocks shurugged it all off because jobs were shitty enough to warrant a bid??