Apr 22

- Here Come The Boots On The Ground: US Troops Heading To Eastern Europe (ZeroHedge, April 22, 2014):

It seems the truce “deal” is well and truly dead…

  • 600 U.S. TROOPS HEADING TO EUROPE FOR EXERCISES: PENTAGON
  • U.S. AIRBORNE TROOPS GOING TO POLAND, LITHUANIA, LATVIA,ESTONIA
  • U.S. MILITARY EXERCISES ARE IN RESPONSE TO UKRAINE CRISIS:KIRBY
  • MORE MILITARY EXERCISES ‘COMING THROUGH’ NATO: PENTAGON

The question now, of course, is – what will Putin do in response to this action?

As for where these troops may be arriving from the answer is simple: that other US military intervention success story – Afghanistan.

From Reuters:

The number of U.S. troops in Afghanistan may drop well below 10,000 – the minimum demanded by the U.S. military to train Afghan forces – as the longest war in American history winds down, Obama administration officials briefed on the matter say.

Continue reading »

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Apr 22

- Martin Armstrong Warns “Abandon The UK Before You Can’t” (ZeroHedge, April 22, 2014):

The following is a new ad campaign in Britain.

20140422_uk

As we have warned numerous times – muddle-through has failed; Martin Armstrong notes, the politicians have squandered everything and now they are hunting down capital everywhere and the view is people have to pay whatever they demand or you are just a criminal. Nobody even bothers to look at what they are doing to the world economy.

These advertisements are appearing everywhere and they will only succeed in created the worst economic collapse since the Great Depression.

Source: Armstrong Economics

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Apr 22

More Californians move in with parents

- Number Of Middle Age Californians Living With Their Parents Soars (ZeroHedge, April 22, 2014):

In the latest indication of just how strong the US “recovery” is, we find that the number of Californians 50 to 64 who live in their parents’ homes has surged in recent years, which as the LA Times less than sarcastically adds, reflects “the grim economic aftermath of the Great Recession.” Wait, don’t they mean the great recovery? Because isn’t the S&P just 10 points from its all time closing high? Maybe all those middle-age Californians are merely seeking their comfort (and spare bedrooms) of their parents so they can all use the family E-trade terminal together.

Continue reading »

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Apr 22

- The Truce Is Over: Ukraine President Urges Restart Of Military Action (ZeroHedge, April 22, 2014):

Ukraine’s Acting President Turchynov appears to be calling for an official break in the “truce” deal…

  • *UKRAINE’S TURCHYNOV URGES RESTART OF ANTI-TERRORIST OPERATION
  • *TURCHYNOV SAYS ‘TERRORISTS’ HOLDING EAST UKRAINE REGION HOSTAGE
  • *TURCHYNOV SAYS EAST UKRAINE SEPARATISTS SUPPORTED BY RUSSIA

So much for Joe Biden’s peace-keeping salvation mission to Kiev…

As Bloomberg reports, Pro-Russian separatists have “crossed line,” Ukraine acting President Oleksandr Turchynov says in statement posted on parliament website.

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Apr 22

- Ukraine Military Plane Hit By Gunfire Over Pro-Russia Held Slavyansk (ZeroHedge, April 22, 2014):

It would seem a red-line or two have been crossed:

  • *UKRAINE MILITARY  PLANE HIT BY GUNFIRE FROM REBEL TOWN: AFP

This comes on the heels of elevated tensions in the last few days since the “deal” and Biden’s arrival in Kiev. Last week saw ‘unidentified’ fighter jets open fire on the Pro-Russian-held Kramatorsk airfield.

And more…

Ukraine: Small Arms Fire Damages Ukrainian Military Plane Over Slovyansk

Continue reading »

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Apr 22

pakistan_taliban

- Marines looking for a few good actors to play terrorists in training exercises (FOX News, April 21, 2014):

The United States Marine Corps is looking for a few good actors to play terrorists in upcoming training exercises, putting out a casting call that could give clues about what the Pentagon is prepping for.

A solicitation put out this month by the U.S. Marine Corps Forces Special Operations Command sought an actor to play an “Al Qaeda personality,” a French-speaker with a college degree in chemistry and three men who could play “high value insurgent” roles. The actors are needed for training exercises in South Carolina during the next three months.

Continue reading »

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Apr 22

US Air Force photo

- US Drones Continue ‘Massive’ Operations in Third Day of Attacks (Common Dreams, April 21, 2014):

Flurry of strikes continues

A suspected U.S. drone strike hit Yemen on Monday morning, the third such attack in as many days, killing people described as “militants” as part of “massive and unprecedented” operations targeting al Qaeda in the Arabian Peninsula.

According to reporting by the Associated Press, the most recent strike “targeted the mountainous area of Mahfad between the provinces of Abyan and Shabwa,” located in the southern part of the impoverished country.

Neither the number of casualties nor who they are is clear at this point.

Continue reading »

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Apr 22

- Is The US Military Preparing For The Collapse Of The Dollar? (ZeroHedge, April 21, 2014):

It almost happened in 2008… but as this excerpt from Casey Research’s Meltdown America documentary notes, it appears the US military is preparing for the potential collapse of the US dollar. As Scott Taylor warns, “…if the carrot (of credit worthiness) is fading, and the stick (of military threat) is weak, that empire is going to come down in a hurry…” which leaves a serial economic mis-manager only one option to ‘secure’ the empire.

To see what the consequences of economic mismanagement can be, and how stealthily disaster can creep up on you, watch the 30-minute documentary, Meltdown America. Witness the harrowing tales of three ordinary people who lived through a crisis, and how their experiences warn of the turmoil that could soon reach the US. Click here to watch it now.

Meltdown America_0

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Apr 22

- A Bankrupt World, $26,000 Gold & The Destruction Of Wealth (King World News, April 21, 2014)

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Apr 22

ALIAS_DARPA

- Pentagon’s Superpowered Autopilot Will Do the Work of 5 Crew Members (Wired, April 22, 2014):

Some think that the Defense Department couldn’t possibly reduce its forces as much as it claims it will. After all, who would fly the planes?

Now DARPA has an answer. The Pentagon’s research arm is developing a sophisticated, drop-in autopilot that can replace as many as five crew members of a military aircraft, and turn the pilot into a high-level “mission supervisor” issuing commands through a touch screen.

Continue reading »

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Apr 22

- Furious Chinese Rioters Beat Corrupt Policemen To Death (ZeroHedge, April 21, 2014):

It appears, based on these extremely graphic images, that the Chinese people has a different way of dealing with corrupt officials. As Shanghaiist reports, a riot involving around 1,000 people broke out last Saturday in Cangnan county of Wenzhou city, Zhejiang province, resulting in the hospitalization of five chengguan, China’s notoriously abusive and under-regulated urban enforcement officials. The alleged cause for the riots was the five’s brutally killing a civilian. According to reports, the chengguan “hit the man with a hammer until he started to vomit blood, because he was trying to take pictures of their violence towards a woman, a street vendor.” This man later died while being rushed to the hospital. Given the following images of civilian retribution; is it any wonder, the powers that be in China fear social unrest?

[Background: Chengguan is a name given to the City Urban Administrative and Law Enforcement Bureau, a municipality police that exists in every Chinese city. Chengguan are notorious for their brutality and generally hated far and wide for it. Their purpose is to enforce municipal bylaws, but they like to resort to violence and often use it against those with no means to fight back.]
The incident began… Continue reading »

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Apr 22

- The Man Who Saved Russia’s Economy Counts the Cost of Crimea (Minyanville’s Wall Street, April 17, 2014):

If anybody knows how much Russia will pay for its confrontation with the West over Ukraine, it should be Alexei Kudrin. As finance minister from 2000-2011, Kudrin engineered his country’s transformation from bankrupt backwater to proud fiscal model. He oversaw 11 years of budgetary surpluses, and managed to sock away the savings in huge reserve funds that rescued Russia after the world crisis of 2008-’09.  He finally left government, ironically, after publicly opposing then-President Dmitry Medvedev’s plans for a rapid increase in military expenditure.

Continue reading »

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Apr 21

muppets-kermit-dead

- Mortgage Standards Are Plunging – It’s Muppet Fleecing Time All Over Again (Liberty Blitzkrieg, April 21, 2014):

In February, I highlighted the fact that subprime loans were about to make a return in my piece: Subprime Mortgages are Back…This Time Marketed as “Second Chance Purchase Programs.” In that article, I posited that with the “all cash” private equity shops and hedge funds no longer able to make good returns through buying new homes to rent, these investors would need some sucker to sell to in order to realize a return (Blackstone’s purchases have plunged 70% recently). That sucker, as always, will be the retail muppets, and those muppets will be lured in through subprime. This is now starting to happen in earnest.

The following article from the Wall Street Journal is both depressing and disturbing. Rather than allowing home prices to reset at a lower level after the 2008 crash where to normal buyers could afford a sane 20% mortgage, our central planners decided to do “whatever it takes” to re-inflate the housing bubble. This was achieved through wealthy investment pools buying properties for all cash. The trouble is, with home prices now inflated by these financial buyers and no real increase in wages, homes are simply unaffordable. So what do you do? You bring back subprime and get the peasants long real estate with essentially zero money down all over again. Truly remarkable. Continue reading »

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Apr 21

- The Strangelove effect — or how we are hoodwinked into a New World War (PressTV, April 21, 2014):

I watched Dr. Strangelove the other day. I have seen it perhaps a dozen times; it makes sense of senseless news. When Major T.J. “King” Kong goes “toe to toe with the Rooskies” and flies his rogue B52 nuclear bomber to a target in Russia, it’s left to General “Buck” Turgidson to reassure the President. Strike first, says the general, and “you got no more than 10 to 20 million killed, tops.”

President Merkin Muffley: “I will not go down in history as the greatest mass-murderer since Adolf Hitler.”

General Turgidson: “Perhaps it might be better, Mr. President, if you were more concerned with the American people than with your image in the history books.”

Continue reading »

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Apr 21

Ukrainian Prime Minister

- Ukraine calls for US military support (PressTV, April 20, 2014):

The Ukrainian acting prime minister says his country needs to be militarily and economically supported from the United States in its standoff with Russia.

“We need a strong and solid state. We need financial and economic support. We need to modernize our security and military forces. We need the real support,” said Arseniy Yatsenyuk while appearing on NBC’s “Meet the Press” on Sunday.

Continue reading »

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Apr 21

- US Russophobia approaching pathological transference (Voice of Russia, April 21, 2014):

The headline in the Boston Globe reads: “Obama focuses updated Cold War approach on Putin” and the New York Times article by one Peter Baker that follows is one of the one of the most acidic, fact-starved, sanctimonious, self-righteous, chest beating, Russophobic, war-propagandistic, Putin-envious, out-of-touch diatribes to come out of the western media in the current tidal wave of Gleichschaltung-like anti-Russian war-propaganda.

The attack is almost criminal in its eschewing of the truth and if you dear reader ever entertained the idea that Boston was a bastion of liberal truth and that the first black American president was some sort of Martin Luther King, you may now group Boston with the vilest redneck burgs in Alabama and the president to the right of the farthest right of the neo-conservative war profiteers.

Continue reading »

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Apr 21

- 20 Kiev spies detained in Ukraine’s Slavyansk by self-defense forces (Voice of Russia, April 21, 2014):

Self-defense forces in Slavyansk, eastern Ukraine, have detained about 20 people suspected of spying for Kiev, Vladimir Ponomaryov, the people’s mayor of Slavyansk, told a Vzglyad newspaper correspondent.

“We are searching for infiltrators and spies. Three were caught yesterday. Over a dozen have been caught already – around 20,” Ponomaryov said. He gave no further details.

Continue reading »

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Apr 21

Listen to the interview here:

- Any US attempt to encircle Russia is destined to fail: James Fetzer (PressTV, April 20, 2014):

An American political commentator says any attempt to encircle the Russian Federation by the US is destined to fail and that future belongs to Russia, China and Iran, not to the West.

James H. Fetzer, professor emeritus at the University of Minnesota Duluth, made the remarks in a phone interview with Press TV on Sunday.

He was commenting on a recent New York Times report which says that US President Barack Obama and his national security team are looking beyond the crisis in Ukraine to adopt an updated version of the Cold War strategy of containment against Russia.

Continue reading »

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Apr 21

grains

- Agenda 21: Food Is The New Gold. Land Is The New Oil. (Underground Medic, April 21, 2014):

Over the last decade world grain reserves have fallen by at least a third and that decline looks set to continue. For the last half of the 20th century overproduction was the order of the day. Huge grain surpluses, butter mountains and milk lakes dominated the news.

During this period the United States had a farm programme where land lay idle to prevent even more surpluses, this provided a cushion against shortages, the land could be planted up if the surpluses fell to levels considered to be too low. In the UK land was left fallow and green manured to enrich it for the following season. The crops were rotated and the harvests were generally very good. In addition there was the carryover: The amount of grain left in the massive storage silos at the time the next crop is harvested. Other western nations had similar systems.

Continue reading »

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Apr 21

- Poland, Estonia exercises part of plan to increase presence in eastern Europe (Stripes, April 19, 2014):

STUTTGART, Germany— A small contingent of U.S. soldiers will deploy to Poland and Estonia for a series of upcoming ground exercises aimed at reassuring allies shaken by Russian intervention in neighboring Ukraine, according to a report.

The U.S. is planning to send a company sized Army element of roughly 150 troops to conduct drills with allies, spanning roughly two weeks respectively in both Poland and Estonia, The New York Times reported Friday.

Continue reading »

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Apr 21

Red Flag L5 Is The New Must-Have Car In China-1

- Forget Ferrari, The $803,300 Red Flag L5 Is The New Must-Have Car In China

For the wealthy Chinese with 5 million Yuan (around $800,000) burning a hole in their pocket, there is a new must-have ‘toy’. Instead of the latest Ferrari or Lambo, it is none other than the provocatively named “Red Flag L5″ that is popping eyeballs and leaving the wealthy Chinese breathless…

As Bloomberg reports,

Forget Ferraris. Someone paid at least 5 million yuan ($803,300) to buy a Chinese car.

China FAW Group Corp. began taking orders for the tailor-made Red Flag L5, the nation’s most expensive vehicle, with the first one sold to a customer in Nanjing, the automaker said in a statement today at the Beijing auto show. Delivery will take three months, said the buyer, Wang Zhonghua, who runs a company that operates a chain of furniture malls in China.

Continue reading »

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Apr 21

- Retail Store Closures Soar In 2014: At Highest Pace Since Lehman Collapse (ZeroHedge, April 21, 2014):

What a better way to celebrate the rigged markets that are telegraphing a “durable” recovery, than with a Credit Suisse report showing, beyond a reasonable doubt, that when it comes to traditional bricks and mortar retailers, who have now closed more stores, or over 2,400 units, so far in 2014 and well double the total amount of storefront closures in 2013, this year has been the worst year for conventional discretionary spending since the start of the great financial crisis!

Continue reading »

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Apr 21

- Keynesian Knightmare: US Savers Outnumber Spenders By Record Numbers (ZeroHedge, April 21, 2014):

“Janet, we have a problem,” is the resoundingly loud message from the latest Gallup poll of Americans preference (and relative enjoyment) of “saving” vs. “spending”. It seems, despite all the hoop-la and exuberance about an ‘economic recovery’ that is pent-up due to weather but about to break out to escape velocity, the majority of Americans continue to enjoy saving money more than spending it, by 62% to 34%. The 2014 saving-spending gap is the one of the widest since Gallup began tracking Americans’ preferences in 2001. How long before a discussion of negative rates re-appears as the rich and powerful Oz-ians contemplate the latest effort to ‘change’ people’s mass psychology… Continue reading »

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Apr 21

Customers flock to buy gold accessories at a gold store on sale in Taiyuan

- China Goes Dark: PBOC To Keep Goldbugs Clueless About Its Gold Buying Spree (ZeroHedge, April 21, 2014):

One of the more perplexing divergences that have plagued precious metal watchers and goldbugs when it comes to the great “black box” that is the world’s biggest buyer of gold in recent years – China (which overtook India after that particular country established unprecedented capital controls to block the import of gold) is that on one hand China has been allowing the outside world to glimpse its ravenous buying of gold through the Hong Kong-Shenzhen corridor (where nearly 70% of the Chinese gold jewellery business is located) since Hong Kong customs provides a full breakdown of how much gold it exports into China, yet on the other the PBOC has refused to update its official gold holdings in exactly five years.

Continue reading »

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Apr 21

Former Rep. Ron Paul

- Nevada Standoff Is A Symptom of Increasing Authoritarianism (The Ron Paul Institute, April 21, 2014):

The nation’s attention has for the past few weeks been riveted by a standoff in Nevada between armed federal agents and the Bundys, a ranching family who believe the federal government is exceeding its authority by accessing “fees” against ranchers who graze cattle on government lands. Outrage over the government’s use of armed agents to forcibly remove the Bundys’ cattle led many Americans to travel to Nevada to engage in non-violent civil disobedience in support of the family.

The protests seem to have worked, at least for now, as the government appears to have backed off from direct confrontation. Sadly, some elected officials have inflamed the situation by labeling the Bundys and their supporters “domestic terrorists,” thus justifying any future use of force by the government. That means there is always the possibility of another deadly Waco-style raid on the Bundys or a similar group in the future. Continue reading »

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Apr 21

- Russia Warns It May Enter Recession As Soon As This Quarter (ZeroHedge, April 21, 2014):

While hardly coming as a surprise to anyone, Russia is getting increasingly more vocal about the near certainty that the country is about to slam headfirst into a technical (at first), and then outright recession.

  • RUSSIA MAY ENTER `TECHNICAL RECESSION’ IN 2Q, ORESHKIN SAYS
  • RUSSIAN 2014 CAPITAL OUTFLOWS MAY REACH $70B-$80B: ORESHKIN
  • RUSSIAN 2014 CURRENT-ACCOUNT SURPLUS MAY EXCEED $50B: ORESHKIN
  • RUSSIAN GDP MAY CONTRACT IN 2Q OR 3Q VS YR EARLIER: ORESHKIN

Bloomberg reports that Russia’s economy may halt or contract in 2Q or 3Q, citing Maxim Oreshkin, head of Finance Ministry’s strategic forecasting dept.

It seems that we’ll get negative growth again in the second quarter compared with the previous quarter.” Oreshkin says

Continue reading »

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Apr 21

- Ukraine and the grand chessboard (Asia Times, April 17, 2014):

By Pepe Escobar

The US State Department, via spokeswoman Jennifer Psaki, said that reports of CIA Director John Brennan telling regime changers in Kiev to “conduct tactical operations” – or an “anti-terrorist” offensive – in eastern Ukraine are “completely false”. This means Brennan did issue his marching orders. And by now the “anti-terrorist” campaign – with its nice little Dubya rhetorical touch – has degenerated into farce.

Now couple that with NATO secretary general, Danish retriever Anders Fogh Rasmussen, yapping about the strengthening of military footprint along NATO’s eastern border: “We will have more planes in the air, mores ships on the water and more readiness on the land.”

Welcome to the Two Stooges doctrine of post-modern warfare.

Pay up or freeze to death

Continue reading »

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Apr 21

Former Official - Fukushima radiation is killing children… heart problems, leukemia, thyroid — Terrible things are going on

- Former Official: Fukushima radiation is killing children… heart problems, leukemia, thyroid — Terrible things are going on — Authorities hiding truth from whole world — We need to admit many people are dying, but we’re not allowed to say that (VIDEO) (ENENews, April 21, 2014):

Interview with Katsutaka Idogawa, former mayor of Futaba, Fukushima Prefecture, April 21, 2014:

At 9:30 in

  • Katsutaka Idogawa, former mayor of Futaba in Fukushima Prefecture: There are still about 2 million people living in the prefecture, who have all sorts of medical issues. The authorities claim this has nothing to do with the radiation fallout from Fukushima. I demanded that the authorities substantiate their claim in writing, but they ignored my request. There are some terrible things going on in Fukushima. […] The biggest problem is that there is no one to help us. […] I talked to local authorities in different places in Fukushima, but no one would listen to me. They believe what the government says, while in reality radiation is still there — and it is killing children. They are dying of heart conditions, asthma, leukemia, thyroid complications. Lots of kids are extremely exhausted after school, others are simply unable to attend PE classes. But the authorities are still hiding the truth from us, and I don’t know why. Don’t they have children of their own? It hurts so much to know they can’t protect our children. Continue reading »

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Apr 21

- Depositor In Failed Russian Bank Loses It, Takes Hostages, Demands $700,000 Ransom (ZeroHedge, April 20, 2014):

Earlier today, the Central Bank of Russia announced that starting April 21, it would revoke the license of Moscow’s Bank Zapadny. According to reports, “the bank had cooked its books and failed to comply with regulations on the amount of assets a financial organization must maintain to ensure its stability, the central bank said.” In other words, your typical FDIC Failure Friday only on Monday morning. Hardly notable. It is what happened next that was shocking. Shortly after the bank shutdown announcement, an armed man took three hostages at a Belgorod branch of precisely this failed Bank Zapadny.

Considering the bank is located in a Russian city in proximity to Ukraine some early speculation suggested the two may be related, however it appears
this may simply be the latest case of a disgruntled bank client taking matters into his own hands.  As RT reports, “he may be a client of the bank wishing to withdraw his deposit despite the bank losing its license…..Life News tabloid says it has identified one of the attackers as 46-year-old Aleksandr Vdovin, a client who holds the bank’s promissory notes for a large sum, and who decided to reimburse them at gunpoint.”

belgorod 1_0

belgorod 2_0

Well, that’s one way of dealing with bail-ins…

RT reports more: Continue reading »

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Apr 21

- Madness! (The Cobden Centre, April 15, 2014):

“Central bankers control the price of money and therefore indirectly influence every market in the world. Given this immense power, the ideal central banker would be humble, cautious and deferential to market signals. Instead, modern central bankers are both bold and arrogant in their efforts to bend markets to their will. Top-down central planning, dictating resource allocation and industrial output based on supposedly superior knowledge of needs and wants, is an impulse that has infected political players throughout history. It is both ironic and tragic that Western central banks have embraced central planning with gusto in the early twenty-first century, not long after the Soviet Union and Communist China abandoned it in the late twentieth. The Soviet Union and Communist China engaged in extreme central planning over the world’s two largest countries and one-third of the world’s population for more than one hundred years combined. The result was a conspicuous and dismal failure. Today’s central planners, especially the Federal Reserve, will encounter the same failure in time. The open issues are, when and at what cost to society ?
- James Rickards, ‘The death of money: the coming collapse of the international monetary system’, 2014. [Book review here]

“Sir, On the face of it stating that increasing the inheritance tax allowance to £1m would abolish the tax for “all except a very small number of very rich families” (April 5) sounds a very reasonable statement for the Institute for Fiscal Studies to make, but is £1m nowadays really what it used to be, bearing in mind that £10,000 was its equivalent 100 years ago ?

“A hypothetical “very rich” person today could have, for example, a house worth £600,000 and investments of £400,000. If living in London or the South East, the house would be relatively modest and the income from the investments, assuming a generous 4 per cent return, would give a gross income of £16,000 a year, significantly less than the average national wage.

“So whence comes the idea that nowadays such relatively modest wealth should be classified as making you “very rich” ? The middle-aged should perhaps wake up to the fact that our currency has been systematically debased, though it may be considered impolite to say so as it challenges the conventional political and economic wisdom. To be very rich today surely should mean you have assets that give you an income significantly higher than the national average wage ?”
- Letter to the editor of the Financial Times from Mr John Read, London NW11, 12 April 2014

 

“The former coach house in Camberwell, which has housed the local mayor’s car, was put on the market by Southwark council as a “redevelopment opportunity”. At nearly £1,000 per square foot, its sale value is comparable to that of some expensive London homes.”
- ‘London garage sells for £550,000’ by Kate Allen, The Financial Times, 12 April 2014.

“Just Eat, online takeaway service, slumped below its float price for the first time on Tuesday as investors dumped shares in a raft of recently floated web-based companies amid mounting concern about their high valuations..

“Just Eat stunned commentators last week when it achieved an eye-watering valuation of £1.47 billion, more than 100 times its underlying earnings of £14.1 million..

““They have fallen because the company was overvalued. Just Eat was priced at a premium to Dominos, an established franchise that delivers and makes the pizzas and has revenues of £269 million. Just Eat by comparison is a yellow pages for local takeaways where there is no quality control and no intellectual property and made significantly less revenues of £96.8 million. A quality restaurant does not need to pay 10 per cent commission to Just Eat to drive customers through the door,” Michael Hewson, chief market analyst at CMC Markets said.”
- ‘Investors lose taste for Just Eat as tech stocks slide’ by Ashley Armstrong and Ben Martin,
The Daily Telegraph, 8 April 2014.

Keep interest rates at zero, whilst printing trillions of dollars, pounds and yen out of thin air, and you can make investors do some pretty extraordinary things. Like buying shares in Just Eat, for example. But arguably more egregious was last week’s launch of a €3 billion five-year Eurobond for Greece, at a yield of just 4.95%. UK “investors” accounted for 47% of the deal, Greek domestic “investors” just 7%. Just in case anybody hasn’t been keeping up with current events, Greece, which is rated Caa3 by Moody’s, defaulted two years ago. In the words of the credit managers at Stratton Street Capital, Continue reading »

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