“Some time in the next few months the authorities get a wake-up call. They are tapering off QE. This reduces the amount of excess liquidity driving up stocks. It is bound to increase volatility, too. It wouldn’t be too much of a surprise to see the Dow down 1,000 points in a day – or more. Then, Janet Yellen will panic, and it will be back to QE, and perhaps more. There have been several hints that the Fed and other central banks may be willing to go to direct money printing – something like dropping money from helicopters – as the next stage. When that comes it could mean fantastic increases in stocks – and who knows what else.”
Tag Archives: Welfare-Warfare State
Perfecting Tyranny: Foreign War as Experimentation in State Control
“Writing at the dawn of the twentieth century, Mark Twain provided ominous commentary about a hypothetical ‘Great Republic’ that had adopted a foreign policy of actively intervening in distant societies. What if Twain’s scenario were not hypothetical, but rather real? What if foreign interventions abroad have the long-term effect of undermining liberties and freedoms at home? This paper explores how interventions abroad can affect domestic government activities in a way that reduces its citizens’ freedoms and liberties. Although our analysis is generalizable, we focus on a specific ‘Great Republic’—the United States—because of its global dominance in economic and military affairs.”
http://www.independent.org/publications/tir/article.asp?a=1012
Angry with Washington, 1 in 4 Americans open to secession
“Republicans were more inclined to support the idea, with 29.7 percent favoring it compared with 21 percent of Democrats. By region, the idea was least popular in New England, the cradle of the Revolutionary War, with just 17.4 percent of respondents open to pulling their state out. It was most popular in the Southwest, where 34.1 percent of respondents back the idea. That region includes Texas, where an activist group is calling the state’s legislature to put the secession question on a statewide ballot. Anger with President Barack Obama’s handling of issues ranging from healthcare reform to the rise of Islamic State militants drives some of the feeling.”
http://www.reuters.com/article/2014/09/19/us-usa-secession-exclusive-idUSKBN0HE19U20140919
Scotland votes to remain part of United Kingdom
“North Sea oil revenues, Britain’s nuclear weapons program and the use of the pound sterling would have all been on the line, along with dozens of other questions as the two sides divided this island along a border that has hardly functioned like one since 1707. Scotland already has its own parliament, with responsibility for managing the nation’s health care, education and legal systems. Nationalists said an independent Scotland, unshackled from London’s austerity-minded Conservative-led government, would have been modeled on Scandinavian countries that spread their wealth broadly and offer their citizens a generous package of government support.”
France: The new sick man of Europe?
“President Francois Hollande is politically weakened with his approval rating at an all-time low of 17 percent, and France could be falling into another recession. The French economy could be on the brink of becoming the latest sick man of Europe. Unemployment is higher than at any time since the late 1990s and has not fallen below 7 percent in nearly 30 years – creating chronic joblessness in the crime-riddden banlieues of France’s big urban areas. France has not balanced its books since 1974 and public debt stands at over 90 percent of GDP and is rising. Statistics released this week revealed French manufacturing confidence fell to the lowest in 13 months in August.”
Senate approves Obama request to arm, train Syrian rebels
“The Senate on Thursday easily approved a $1 trillion government-funding bill that gives President Obama new authority to battle the Islamic State in Iraq and Syria (ISIS). While the stopgap bill will prevent a government shutdown on Oct. 1, the vote will be remembered for a controversial provision that allows Obama to start a new training program for rebel fighters in Syria. Anti-war liberals and some conservatives balked at that request, with some fearing the vote represented a dangerous march to war. Lawmakers skeptical of helping the rebels are fearful that it could be difficult, if not impossible, to ensure the weapons do not end up in the wrong hands.”
http://thehill.com/policy/finance/218248-senate-approves-obama-request-to-arm-train-syrian-rebels
US Pursues 134 Wars Around the World
“This many wars – 134 – is an insupportable number. Legally it is possible; militarily it is feasible; politically it is doable – but not in the long term. Natural law itself militates against the kind of structure that has evolved in the US since 2001. Perhaps the financing will be the first to go. The vast amounts of money needed to support the military paradigm must be milked from the securities sector, itself fattened by monopoly monetary stimulation. Eventually, as we have long pointed out, this sort of effort is insupportable. The Wall Street Party is ongoing and may last several more years (with various interruptions) but the corporate warfare state as a matter of systemic practice cannot last.”
http://www.thedailybell.com/news-analysis/35654/US-Pursues-134-Wars-Around-the-World/
How Empires End
“Histories are generally written by academics. They, quite naturally, tend to focus on the main events: the wars and the struggles between leaders and their opponents (both external and internal). Whilst these are interesting stories to read, academics, by their very nature, often overlook the underlying causes for an empire’s decline. When the history is written about the era we are passing through, it will reflect, in large measure, a rehash of the news. As the media of the day tend to overlook the fact that present events are merely symptoms of an overall decline, so historians tend to focus on major events, rather than the ‘slow operations’ that have been the underlying causes.”
Bill Bonner on the Alex Jones Show (2014/08/07)
The IMF, the SDR, and the Dollar: One Big Happy
“Lyndon Johnson was fighting two wars, both of which America lost: the war in Vietnam and the war on poverty. He lowered marginal income tax rates in 1964 to 70% from 99%. He refused to raise taxes. The phrase was popular: ‘guns and butter.’ By 1969, there was price inflation. There was also a run on the federal government’s gold supply, because foreign governments demanded payment, which they could do under Bretton Woods. France was the main ‘culprit.’ The U.S. Treasury was experiencing a classic bank run. Here was what the International Monetary Fund did, according to Wikipedia. It created a new fiat non-currency, the SDR.”