Authored by Michael Snyder via The Economic Collapse blog,
In 2008, subprime mortgages almost single-handedly took down the entire financial system, and now a new subprime crisis is here.
While Jamie Dimon tried to maintain his traditionally optimistic outlook in his annual letter to shareholders, there was a distinct undertone of pessimism in the latest 45 page letter released earlier today, in which he writes that while the U.S. is "truly an exceptional country," probably stronger than ever before, he cautions that "something is wrong - and it's holding us back."
Here are the highlights from the gloomy passage reposted below in its entirety.
Update: Sec. of State Rex Tillerson has issued the following statement:
“North Korea launched yet another intermediate range ballistic missile. The United States has spoken enough about North Korea. We have no further comment.”
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Authored by Valentin Schmid via The Epoch Times,
Macquarie strategist Viktor Shvets explains overcapacity, debt, and government intervention
Despite the temporary injection of confidence in the American economy brought about by the election of President Donald Trump, major structural problems continue to lurk beneath the surface. These trends, decades in the making, are so entrenched and intractable that even Trump’s boldest plans may not be able to resolve them.
Back in 2013, the catalyst used by the US to intervene in the Syrian conflict which started in the aftermath of the Arab Spring (which according to some was inspired by CIA intervention), was a YouTube clip allegedly showing a sarin gas attack by Assad troops on his own people in the town of Ghouta, which reportedly led to hundreds of casualties. Subsequently, the video was shown to have been a hoax, but by then it was too late as the US was actively involved in the proxy war, which in the summer of 2013 nearly escalated to a naval conflict between the US and Russia.