US Federal Reserve

Submitted by David Stockman via Contra Corner blog,

Now that’s a screaming case of the pot calling the kettle black if there ever was one. Mitt Romney has lashed out at The Donald for being a “phony and  fraud”, but consider this. During his 16-years at Bain Capital, fully one-fourth or $600 million of the firms cumulative $2.5 billion of profits were scalped from companies which went bankrupt soon after Mitt and his partners got out of town with the loot.

In half an hour, the BLS will report the February unemployment rate and payrolls number which is expected to print as follows:

Having risen to its highest level ever in August 2015, the volatility of volatility has collapsed. As traders position increasingly for negative interest rates in the US, the last month has seen 'uncertainty' crash to its most complacent in over 18 months.. and all this as well-chosen data corners The Fed (if it was truly data-dependent) to hike rates (or at best make hawkish over tones). Perhaps this is peak complacency ahead of tomorrow's do-or-die jobs data?

Submitted by Simon Black via SovereignMan.com,

In the middle of a heated battle against my jetlag yesterday, I finally decided to exercise the nuclear option and turn on CNBC in order to stay awake.

I figured someone would say something completely ridiculous, and it would get my blood boiling enough to power through the next couple of hours.

Within minutes I saw a top economist for Moody’s (one of the largest rating agencies in the world) saying that there are absolutely zero signs of recession.

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

Could it be that America's ruling classes, its Imperial state and the Federal Reserve, no longer rule their own destiny?

America's smug ruling classes are supremely confident: they feel no fear, no caution, and exhibit no prudence.

I outlined the five ruling classes in America's Nine Classes: The New Class Hierarchy.