“When I was chairman, more than one legislator accused me and my colleagues on the Fed’s policy-setting Federal Open Market Committee of “throwing seniors under the bus” (to use the words of one senator) by keeping interest rates low. The legislators were concerned about retirees living off their savings and able to obtain only very low rates of return on those savings.”
And the punchline:
“I was concerned about those seniors as well.”
Yes, deeply concerned on how to wipe them (the middle class and the poor) out best.
It would appear the $250,000/hour speaking opportunities for Ben Bernanke have ground to a halt, and as such, the former Chairsatan has decided to dispense his wisdom for free to anyone who cares, by becoming a blogger at Brookings. And, not surprisingly, in his first post, the person who less than a decade ago said the following, in exactly those words…
Well, I guess I don’t buy your premise. It’s a pretty unlikely possibility. We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s gonna drive the economy too far from its full employment path, though. Continue reading »
In recent months, Facebook has been quietly holding talks with at least half a dozen media companies about hosting their content inside Facebook rather than making users tap a link to go to an external site.
The new proposal by Facebook carries another risk for publishers: the loss of valuable consumer data. When readers click on an article, an array of tracking tools allow the host site to collect valuable information on who they are, how often they visit and what else they have done on the web.
And if Facebook pushes beyond the experimental stage and makes content hosted on the site commonplace, those who do not participate in the program could lose substantial traffic — a factor that has played into the thinking of some publishers. Their articles might load more slowly than their competitors’, and over time readers might avoid those sites.
Last night, I came across an incredibly important article from the New York Times, which described Facebook’s plan to provide direct access to other websites’ content in exchange for some sort of advertising partnership. The implications of this are so huge that at this point I have far more questions than answers.
I’m always amazed at how people can be programmed by the mainstream media to ignore the obvious reality happening right in front of their eyes. Right now, America is being lulled into a hypnotic sense of denial while military training for martial law is happening right in their own neighborhoods and city streets. Yet, strangely, no one is allowed to refer to this exercise as training for martial law… even though that’s obviously what it is.
Most Americans remain totally unaware of the fact that a massive military drill spanning 10 U.S. states will soon put military troops, helicopters, armored transports and military weapons directly on the streets of communities across the nation. “Operation Jade Helm begins in July and will last for eight weeks,” reports the Daily Mail. “Soldiers will operate in and around towns in Texas, New Mexico, Arizona, California, Nevada, Utah and Colorado where some of them will drop from planes while carrying weapons loaded with blanks in what military officials have dubbed Realistic Military Training.” Continue reading »
Up until now, the world’s descent into the NIRPy twilight of fiat currency was a function of failing monetary policy around the globe as central bank after desperate central bank implemented negative and even more negative (in the case of Denmark some four times rapid succession) rates, hoping to make saving so prohibitive consumers would have no choice but to spend the fruits of their labor, or better yet, take out massive loans which they would never be able to repay. However, nobody said it was only central banks who could be the executioners of the world’s saver class: governments are perfectly capable too. Such as Australia’s.
In an address to the Arab League summit in Egypt on Saturday, Mr Putin spoke against foreign intervention in countries’ internal disputes and spoke of the role Russia can play in diplomatic channels.
While Russia openly opposes the stance of US-backed Israel on the Gaza crisis, its position in the Middle East is complicated. Mr Putin is one of Iran’s key allies, but as he spoke on Saturday the core nations of the Arab League engaged in air strikes on the Iranian-backed Houthi rebels in Yemen. Continue reading »
The Times of London, Mar. 27, 2015 (emphasis added): Japan faces 200-year wait for Fukushima clean-up — The chief of the Fukushima nuclear power station has admitted that the technology needed to decommission three melted-down reactors does not exist, and he has no idea how it will be developed. In a stark reminder of the challenge facing the Japanese authorities, Akira Ono conceded that the stated goal of decommissioning the plant by 2051 may be impossible without a giant technological leap. “There are so many uncertainties involved. We need to develop many, many technologies,” Mr Ono said. “For removal of the debris, we don’t have accurate information (about the state of the reactors) or any viable methodology… [The rest of the article is only available to Times’ subscribers] Continue reading »
Intelligence regarding the unintended altitude loss with incumbent loss of life related to Lufthansa 9525 from Barcelona to Dusseldorf is coming to light.
The plane may have been downed to end an investigation of massive banking fraud died to the CIA, Mossad, Crypto AG, Siemans and the Vatican Bank.
This event also gives us need to take a new look at the downing of Pan Am flight 103 over Lockerbie, Scotland in 1988. In the world of fax machines, Crypto AG had developed a hardware hack that created a backdoor on all encrypted fax communication, giving their “clients” virtual control of not only the world banking system but almost all diplomatic correspondence as well. Continue reading »
In all likelihood, the cabin crew of the ill fated GermanWings flight could simply have entered the cockpit at any time. If the plane were programmed specially to disallow this normal capability of the Airbus320 series, the airline has failed to inform the public of this.This information is “confidential” as it would be a theoretical aid to hijackers. Problem is, there are no hijackers, only security agencies that seem to enjoy stealing planes, shooting them down or taking control of their guidance systems. The hijack scenario makes for good TV and convenient cover stories where “dead men tell no tales” and crash scenes are always quickly secured and “seeded” as needed.Our suicide story is just a new twist on an old tale.
In order to add to the explosion of information about the recent air event over France, we have done some simple research on the operation of the cockpit door of an A320. We have published, below, the operations manual. We also have the following language, taken from the flight crew manual used by Royal Jordanian Airlines, an organization kind enough to have passed this on:
Ident.: DSC-25-11-10-00001006.0001001 / 09 OCT 12
Applicable to: MSN 2649-3685, 4670-5367
A forward-opening hinge door separates the cockpit from the passenger compartment. It has three electric locking strikes, controlled by the flight crew. In normal conditions, when the door is closed, they remain locked. When there is a request to enter the cockpit, the flight crew can authorize entry by unlocking the door, that remains closed until it is pushed open.
When the flight crew does not respond to requests for entry, the door can also be unlocked by the cabin crew, by entering a two to seven-digit code (programmed by the airline) on the keypad, installed on the lateral side of the Forward Attendant Panel (FAP). Continue reading »
The president of the European Commission Jean-Claude Juncker, who leads the EU’s executive arm, said an EU army would let the continent “react credibly to threats to peace in a member state or a neighbour of the EU”.
Ripped from the pages of The Onion, this is not.California Democrat Barbara Lee proposed a resolution in the House of Representatives that claims women will eventually be forced into prostitution since they face “disproportionately harmful impacts from climate change.” So, first ‘we’ blame weakness in economic growth on excess cold, and now excess global warmth – according to Lee’s House Concurrent Resolution 29 – will drive women to “sex work, transactional sex, and early marriage.”
The underwater rock formations provide the best fishing grounds off Gaza, but they are just beyond the limit set by the Israelis for local boats. Tawfiq Abu Riyala dreamt up an ingenious plan to solve this problem; but it may have ended up costing him his life.
The 32-year-old fisherman had built up his own artificial rock with planks of wood, tyres, and bits of metal, seemingly well within the area in which he and his colleagues are allowed to operate. It was while he was adding to this pile that an Israeli gunboat opened fire, wounding him fatally. Continue reading »
A massive U.S. military drill dubbed “Jade Helm 15” lists Texas, Utah, and part of California as “hostile” or “insurgent pocket” territory.The unclassified information about this drill is causing widespread alarm nationwide, with more than a few analysts suggesting it may be some sort of exercise practicing to impose martial law on Americans fed up with an out-of-control federal government. During the exercises, which will take place over the summer, Special Forces from various branches of the military will work with local law-enforcement in scenarios that, to critics at least, sound suspiciously like they are aimed at subduing rebellious American civilians and states amid a civil war or large-scale unrest. The federal government issued a response dismissing the concerns and saying that the training is to help U.S. forces prepare for overseas missions, but not everyone is convinced.
Seven Southwestern states will soon be infiltrated by 1,200 military special ops personnel as part of a controversial domestic military training in which some of the elite soldiers will operate undetected among civilians.
Operation Jade Helm begins in July and will last for eight weeks. Soldiers will operate in and around towns in Texas, New Mexico, Arizona, California, Nevada, Utah and Colorado where some of them wil drop from planes while carrying weapons loaded with blanks in what military officials have dubbed Realistic Military Training.
But with residents of the entire states of Texas and Utah dubbed ‘hostile’ for the purposes of the exercises, Jade Helm has some concerned the drills are too realistic.
Headlines like Freedom Outpost‘s ‘Operation Jade Helm—military trains for martial law in American South-west’ abound across the Right-leaning blogosphere and Info Wars warns that Jade Helm is simply ‘an effort to test the effectiveness of infiltration techniques’ on the American public. Continue reading »
While Kyle Bass is usually the smartest man in the room, among this crowd he is Einstein as he carefuly explains – while sitting politely during status quo interruptions – the real state of the world “the unintended consequence of QE has been to widen the income gap,” what is behind the Potemkin Village of the stock markets, how The Fed is “backed into a corner” of raising rates against their will, and why bond yields (at the long-end) will drop further. Currency wars are net positive, as Greg Ip suggests, and will not end well, as he concludes in one section, “why haven’t all the Yen left Japan already?”
“How many rich people do you know today that are poorer than they were at the peak in 06/07 (apart from Dick Fuld), I don’t think I know any.. QE has been distributive to the rich… but now that the world has started this policy it is unable to end it…
the next recession will be a hard one because the tools in the toolbox are not there to avert a severe downturn…” Continue reading »
Bill Nye The Science Guy gave a speech showing him to be the latest cheerleader for authoritarians.
The final moments of the ‘climate change’ awareness speech to promote his new book were captured on the video below. There’s no description in the video of where the event took place, but it seems to be from the National Science Teachers Conference earlier this month.
Some of the featured quotes he said to roaring cheers, “we need carbon tax to redistribute wealth…we need government to run things…everyone else should shut up” .
This may seem shocking to some (especially the cheering part), but Bill Nye has also recently called for heavy population reduction in line with eugenicists’ “solution” to alleged climate change.
In a Google Talk from December 2014, Bill Nye said the following
We’re at 7.2 billion people. And that’s it. You’ve more than doubled the number of humans burning and breathing the atmosphere in the last two decades. That’s your problem.
So we need to reduce the human population (nervous laughs). We do. But I mean, this is – you guys, we don’t do it.
By the way, war is completely ineffective.
Ebola will not do it. No.
And you can see it historically. The scale of the problem is huge.
He’s a ranting lunatic through the entire talk, but the bit about killing off humans begins around the 52:00 mark. This time he struggles to get the crowd to cheer for hating humans.
Bill Nye has become a leading preacher for the new climate cult that views humans as the enemy. Beware.
When “very serious people” (even if it is those who once ran now defunct Bear Steanrs) announce it, with a 6 year delay, they make the Financial Times.
On the other hand, when Zero Hedge said precisely this 6 years ago, it was cast as a tin-foil clad group of conspriators who see the worst in every situation.
What is “it”? This:
The long-term consequences of global QE are likely to permanently impair living standards for generations to come while creating a false illusion of reviving prosperity.
In this case, it was said this week by Guggenheim’s Chairman of Investments and Global Chief Investment Officer, Scott Minerd. We are happy that increasingly more “serious people” come to the same conclusion which we posited first a 6 years ago. Continue reading »