Putin Says the Petrodollar Must Die!

by: Tyler Durden

Zero Hedge

On one hand, despite initial weakness following Europe’s triple-dip red alert, futures declined only to surge higher after some headline or another out of Russia was again spun to suggest imminent Ukraine de-escalation (something which Russia whose only interest is to keep crude prices high, has absolutely zero interest in), perpetuating a rumor which was set off by a Russian media outlet tweet last week that has sent S&P futures over 50 higher in less than a week on… nothing.

On the other, Putin just said the following… article continues

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14 Reasons Why the U.S. Economy’s Bubble of False Prosperity May be About to Burst:

by: Michael Snyder

Activist Post

Did you know that a major event just happened in the financial markets that we have not seen since the financial crisis of 2008?  If you rely on the mainstream media for your news, you probably didn’t even hear about it.

Just prior to the last stock market crash, a massive amount of money was pulled out of junk bonds. Now it is happening again.

In fact, as you will read about below, the market for high yield bonds just experienced “a 6-sigma event”.  But this is not the only indication that the U.S. economy could be on the verge of very hard times.

Retail sales are extremely disappointing, mortgage applications are at a 14-year low and growing geopolitical storms around the world have investors spooked.  For a long time now, we have been enjoying a period of relative economic stability even though our underlying economic fundamentals continue to get even worse.  Unfortunately, there are now a bunch of signs that this period of relative stability is about to end.  The following are 14 reasons why the U.S. economy’s bubble of false prosperity may be about to burst…

#1 The U.S. junk bond market just experienced “a 6-sigma event” earlier this month.  In other words, it is an event that is only supposed to have a chance of 1 in 500 million of happening.  Billions of dollars are being pulled out of junk bonds right now, and that has some analysts wondering if a financial crash is right around the corner.

article continues

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New Political Study Says Average Citizen Has Zero Effect On U.S. Policy:

by: Brian McWilliams

Lions of Liberty

In a revelation that will come as a surprise to very few who are educated enough to know how our current crony capitalist system works, a new study due to come out this fall has found that the average citizen in the United States has virtually zero impact on public policy or those who create it. From The Hill:

The new study, with the jaw-clenching title of “Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens,” is forthcoming in the fall 2014 edition of Perspectives on Politics. Its authors, Martin Gilens of Princeton University and Benjamin Page of Northwestern University, examined survey data on 1,779 national policy issues for which they could gauge the preferences of average citizens, economic elites, mass-based interest groups and business-dominated interest groups. They used statistical methods to determine the influence of each of these four groups on policy outcomes, including both policies that are adopted and rejected.

The analysts found that when controlling for the power of economic elites and organized interest groups, the influence of ordinary Americans registers at a “non-significant, near-zero level.” The analysts further discovered that rich individuals and business-dominated interest groups dominate the policymaking process. The mass-based interest groups had minimal influence compared to the business-based interest groups.

The study also debunks the notion that the policy preferences of business and the rich reflect the views of common citizens. They found to the contrary that such preferences often sharply diverge and when they do, the economic elites and business interests almost always win and the ordinary Americans lose.

This news plays into the hands of liberals, who will decry the rich and the impact of big business on public policy. However, this is a position that begs them to look in the mirror as proponents of big government. The larger and more intrusive government gets… article continues…

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The Declaration of Bitcoin’s Independence?

I’ve been speaking about Bitcoin a little bit more lately. I think part of the reason is because of the increasing prices I keep running into. I’m starting to really feel the pain at the grocery store… doesn’t it seem like the costs have gotten significantly higher in just the last few years? I’m not an economist, but it certainly feels like the inflation is a lot worse than they say it is, and that the prices are probably never going to magically turn around. Have they ever?

That being said, I’m not endorsing Bitcoin or any crypto-currency. However, what I do know is that the dollar is likely to only get worse from here.  Did I mention that many other countries want to bail on the dollar as well?

I’m not a financial adviser, but I think it would be wise to do some research into alternative currencies… you certainly don’t want to have all of your currency in dollars if it ever collapses. I personally think physical gold and silver are excellent choices because they’ve held value for thousands of years and can always be used for barter. However, if you are still looking to hedge/diversify with something different, than crypto-currencies just might be right for you.

And after watching the above video you may also have to wonder… could we all actually be better off without the dollar?

 

Agree or Disagree?

 

 

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Global Debt Exceeds $100 Trillion as Governments Binge

The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, according to the Bank for International Settlements. Read The Full Story From Bloomberg

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Time To Learn About Alternative Currency: “Bitcoin”.

Alternative currency, Bitcoin, is all the rage these days. Just what is it?
Read The Full Story

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Why Business Is Cheering Detroit’s Bankruptcy

Nobody wants to undergo surgery. But if you need it, there’s no point putting it off. All you want is to get through it quickly and be healthy afterwards.
That pretty much sums up the view of Detroit business leaders after the city’s historic bankruptcy filing Thursday afternoon, according to Sandy Baruah, president of the Detroit Regional Chamber of Commerce. Read The Full Story From Forbes

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Obama Flashback: ‘We Refused to Let Detroit Go Bankrupt’

In October of 2012, President Barack Obama triumphantly declared he “refused to throw in the towel” and “let Detroit go bankrupt.”
On July 18, 2013, Detroit went bankrupt. Read The Full Story From The Blaze

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