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Greek GDP Plunges To Year 2000 Levels
That things in Greece are hopeless and getting worse is an understatement. With unemployment levels off the charts, the pension and retirement systems effectively gone and every able-bodied individual...
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American Households On Foodstamps Climb To New Record
Yesterday, briefly, we were confused by the eruption in the stock market following a not too bad sub-200K nonfarm payrolls number. Because we know that in the New Normal bad is always good, no matter...
View ArticleChinese Export Fall and Strong Yuan: Bad Times Ahead
Looks like the sun has gone behind the clouds in China for a bit! Not only are the solar panels creating friction between China and the EU, but now it turns out that last month saw Chinese export...
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"You Should Use Both" - How America's Internet Companies Are Handing Over...
In the aftermath of the PRISM spying scandal, the first and logical response was an expected one: lie. The president did it, and so did the various companies implicated in the biggest US surveillance...
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Guest Post: Employment - The Macro Trends
Submitted by Lance Roberts of Street Talk Live blog,The May jobs report came in better than expected at 175,000 jobs with the labor force ticking up slightly from the lowest levels since 1979. With...
View ArticleThe Good, Bad, And Ugly "Taper" Scenarios
As important as when the Fed might taper its asset purchases is why it might do so. Uncertainty about the Fed’s QE reaction function, BofAML argues, is a significant contributor to recent market...
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Saturday Humor: AbeGnomics
Via Japan Subculture blog,We’ll admit it. We just don’t understand Prime Minister Shinzo Abe’s much vaunted economic policy known as Abenomics. Spend public funds that Japan doesn’t have, increase...
View ArticleDamage Control Time: National Intelligence Releases PRISM "Facts"
Confirming that the administration is in very hot water over this week's revelations of widespread domestic and global surveillance, moments ago this Saturday afternoon the head of National...
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On The Unquestioning Allegiance To The System
Submitted by Simon Black of Sovereign Man blog,It’s one of the hardest habits to break.We begin pledging our allegiance to the state before we even know what that means. We learn to sing bombastic,...
View ArticleSamaras Says Won’t Backdown on Greek Broadcaster Closure As Coalition Splinters
While we usually think of a butterfly's wings flapping as the cause of chaotic tornadoes around the world, in the case of Greece, it appears Samaras' comments that he "won't tolerate the sacred cows of...
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"Not" Off-The-Lows
The "buy-the-dip mentality" has left the building (for now)... The Great Rotation out of USD assets continues (for now as Gold remains bid and equities play catch-down to credit)... only 45 minutes to...
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Government Celebrates Austerity With Fourth Largest Spending Month Ever
When in April the US government reported a surplus of $112.9 billion (thanks to tax collections, Fed and GSE remittances) - the largest surplus since April 2008, many wondered if DC's profligate ways...
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Testimony Of NSA Director Gen. Keith Alexander - Live Webcast
Army Gen. Keith Alexander, director of the National Security Agency and head of U.S. Cyber Command is currently testifying in front of the Senate Appropriations Committee's scheduled session. As TPM...
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Bonds, Stocks, Dollar Pounded In First Dow Jones Three-Day Losing Streak...
It was bound to happen: after the Tuesday "winning" streak was lost 8 days ago on the 21st unlucky week, it was the turn of the "BTFD mentality" that had prevented a 3-day losing streak in the Dow...
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And Now Another Poll: Most Americans DISapprove Of Government Spying
Two days ago, when Pew Research came out with a poll showing that a majority (56%) of Americans replied affirmatively to the question if "the National Security Agency’s (NSA) program tracking the...
View ArticleDavid Rosenberg: "From What I Hear..."
David Rosenberg, recent reflationist reincarnation aside, has never been one to interject spurious rumors in his client letters. Which is why, if what he is "hearing" is accurate, then the bulls better...
View ArticleWednesday Humor (And Hubris): Who Said It?
Guess who said it, back in 2003:A Fiscal Train WreckWith war looming, it's time to be prepared. So last week I switched to a fixed-rate mortgage. It means higher monthly payments, but I'm terrified...
View ArticleGuest Post: This Is What Crisis Feels Like
Submitted by Simon Black of Sovereign Man blog,On December 1, 2001, Argentina’s economy was in trouble. Unemployment was high, debt was high, and recession had taken hold. But life was somewhat...
View ArticleFull White House Statement On Syria's "Red Line" Crossing
What comes after George Bush and George Bush Jr.? Must be George Bush the Third, only this time armed with a Nobel peace prize. Seriously, are they that stupid to think they can rerun the entire Iraq...
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Japan Resorts To Teenage Girls In Short Skirts To Get Their Stocks Up
While the full court press propaganda express in Japan's media that 'Abenomics' is working may be flagging a little in the face of the recent 20% collapse in equity prices, there appears no limit to...
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