Monthly Archives: May 2014

Home Equity Lending Back … Really

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“Like the ghosts in the movie Poltergeist II, theyyyy’rrreee baaaccckkkk!  So notes this morning’s Wall Street Journal, cheerfully proclaiming:  ‘A rebound in house prices and near-record-low interest rates are prompting homeowners to borrow against their properties, marking the return of a practice that was all the rage before the financial crisis.’ The story goes on to note that home equity lending hit $59 billion last year, the highest level (excluding the housing bubble years) since 2000. The most popular product? A ‘HELOC’ or Home Equity Line of Credit.  The bad news? These are the kinds of products that helped blow up the entire banking industry.”

http://www.moneyandmarkets.com/home-equity-lending-back-really-61757

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Former ECB Chief Economist: Buy Gold; Economic System is ‘Pure Fiction’

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“Jürgen Stark, former vice president of the Bundesbank, and also former chief economist of the ECB, resigned in late 2011 for his outright rejection to the purchase of government bonds by the ECB.  The monetary system was saved in 2011 through concerted action by major central banks worldwide. But, according to Stark, the whole system is ‘pure fiction’.  The problem is the monetary model itself. That is, the printing of paper currency without real backing and the multiplier by which the commercial banks can expand credit-uncontrolled without prior savings. Stark recommended allocating part of this fictional savings to investment in traditional ‘safe havens’ such as gold or silver.”

http://globaleconomicanalysis.blogspot.com/2014/05/former-bundesbank-vice-president.html

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Africa Rising: The Military-Industrial Complex Gets to Work

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“There seems to be a globalist plan to swap in Africa for Japan and China when it comes to creating nation-states and regions that can buy US Treasuries. [..] There is some sort of fairly ancient strategy being followed here. Apparently, nation-building includes finding a rationale for injecting troops into a given area with the idea of dominating the local culture and building new traditions that better mesh with invading forces. Long ago, religion seems to have been a primary justification for nation-building. Now apparently the ‘war on terror’ is the justification for a comprehensive military-industrial realignment in a given region.”

http://www.thedailybell.com/news-analysis/35349/Africa-Rising-The-Military-Industrial-Complex-Gets-to-Work/

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Economy Tanks … and Stocks Soar?

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“Negative 1 percent.  That’s how much the U.S. economy managed to ‘grow’ in the first quarter, according to the government’s revised estimate.  After more than $800 billion in stimulus spending from Washington.  After more than $3 trillion of QE from the Federal Reserve.  After six-plus years of record-low interest rates … record levels of monetary intervention in the U.K., Japan and Europe … and the biggest bailouts in the history of the world.  It’s much worse than the 0.1 percent gain the Commerce Department originally reported. It was twice as bad as the 0.5 percent decline economists were expecting. And it’s the worst reading since the first quarter of 2011.”

http://www.moneyandmarkets.com/economy-tanks-and-stocks-soar-61680

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Put the World’s Top Asset Protection Jurisdiction on Your Radar

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“Why Nevis? Simply stated, it has highly protective legislation for international LLCs and trusts.  A Nevis international trust is also an ideal estate planning option. Not only does it provide unsurpassed asset protection, it also lets you set up a ‘dynasty trust’ that can last for generations – potentially, forever. That’s because Nevis has abolished what’s called the ‘rule against perpetuities’ that in most US states – and many countries – strictly limits the duration of a trust.”

http://www.nestmann.com/put-the-worlds-top-asset-protection-jurisdiction-on-your-radar

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Bill Bonner: Why I Sued Washington 28 Years Ago

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“When the Spanish conquered South America, their encomienda system of slavery typically required only 40 days of work from their victims. The French conquered Madagascar; they forced male Hovas between 16 and 60 to work 50 days a year.  The US example is closer to that of Russia – where Emperor Paul I, in 1797, declared that three days a week was enough for serfs to give their lords and masters. That works out to nearly 150 days a year.  A 50% tax rate – federal, state and local – is the equivalent of about 125 days of forced labor a year. Pretty steep. But that’s just the beginning. In our system of crony democracy, all the major industries have whips in their hands.”

http://www.bonnerandpartners.com/why-i-sued-washington-28-years-ago/

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Hightailing It Out of High-Tax States

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“States that were once economic powerhouses are hemorrhaging productive taxpayers. New York, which has the most burdensome corporate tax rate, and Illinois, where property taxes, public debt, the minimum wage, and workers’ compensation costs are all sky high, both lost population in the 2010 census.  Those losses cost New York two seats in the House of Representatives and cost Illinois one seat. Illinois ranked 48th out of the 50 states in the ALEC study. New York ranked dead last. California, with the highest state personal income tax rate, ranked 47th.”

http://www.caseyresearch.com/cdd/hightailing-it-out-of-high-tax-states

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WTC security failures prompt additional $60 million for contractors

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“Security has been a focus of concern since a New Jersey teenager sneaked onto the top of 1 World Trade Center in March and climbed the 1,776-foot building’s spire. Last month it was revealed that three parachutists jumped from the top of the building last fall and recorded it.  Allied Barton’s four-year, $221 million contract signed last year will be expanded by about $60 million, the Port Authority said in a statement. The firm had been hired to replace FJC Security Services after several incidents, including one in which a supervisor at Newark Liberty Airport was found to have been in the country illegally for years and using the identity of a murdered man.”

http://www.nj.com/news/index.ssf/2014/05/world_trade_center_security_to_be_altered_following_breaches.html

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Bill Bonner, To the Class of 2014: You’re “Screwed”

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“Government is merely a way one group of people – the insiders – take advantage of other people – the outsiders.  You can call it democracy or dictatorship; it hardly matters. It can be gentle and broadly tolerable… or brutal and widely detested. What makes it a government is it has a monopoly on the use of violence; ultimately, the insiders use it to get what they want. [..]  When everything is rigged, the riggers have the money and the power. Lobbyists, lawyers, accountants, administrators: Whether you want to take a business public… or just build a house… you come face to face with someone who can stop you, with paperwork, legal razzmatazz and nauseating administration.”

http://www.bonnerandpartners.com/to-the-class-of-2014-youre-screwed/

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Unarmed Florida Man Dies after Being Shot in Morning SWAT Raid

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“The Hallandale Police Department SWAT team arrived at Bowe’s home in the pre-dawn hours of May 8 to serve a search warrant related to suspected drug distribution at the duplex where he lived. ‘It appears the officers from the SWAT team felt threatened,’ Maj. Thomas Honan, a spokesman for the agency, said on the day of the shooting. He said the elderly dog broke free from its chain and charged the officers.  They came in the back door,’ Corneesa Bowe said. ‘Why shoot an unarmed person?’  Neighbor Fred Webb told the newspaper Bowe was ‘an honest man who worked every day’ at his business, a mobile car wash.  Police have not said whether they recovered any drugs or weapons.”

http://stopthedrugwar.org/chronicle/2014/may/22/south_florida_man_dies_11_days_a

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