Unemployment is down, there is talk of the FED tapering, the terror threat is still going on but in the shadow of the middle east. All economic indicators are pointing to the economy getting ready to make a full recovery. The President is out on the campaign trail selling Obamacare, selling the housing market, pretending to nothing about the NSA spying on people. In the meantime more rights, liberties are being taken away. Everything is being prepped to pull the big one over on the American people come this fall
Bill Fleckenstein: Too-easy money makes market too risky; The liquidity-fueled rally of the past 9 months is easy to like. But recent history tells us higher prices based on easy money carry extreme dangers, so a violent drop could lie ahead.
There is not much one can say to make sense out of the maniacal rise we have seen in the stock market since last fall, other than to note that the third and fourth rounds of bond buying by our Federal Reserve (aka QE3 and QE4) have boosted stock prices 20 to 25%.
Beneath the surface, however, stocks are a house of cards. Simply because prices are rising as a consequence of the massive liquidity injected by the Fed (and the Bank of Japan) – combined with “professionals” running other people’s money who are terrified of not keeping up with the averages – does not mean that participating in the stock market at the moment is something that anyone who is sane ought to do.
http://money.msn.com/bill-fleckenstein/post–too-easy-money-makes-market-too-risky
Peter Schiff On The Half Full Economy
The marginal economic strength that was described in the most recent GDP release from Washington has caused many to double down on their belief that the Federal Reserve will begin tapering Quantitative Easing sometime later this year. While I believe that is a fantasy given our economy’s extreme dependence on QE, market observers should have learned long ago that the Bureau of Economic Analysis (BEA) initial GDP estimates can’t be trusted. A perusal of their subsequent GDP revisions in the last five years reveals a clear trend: They are almost twice as likely to revise initial estimates down rather than up, and the downward adjustments have been much larger on average.
As a result of this phenomenon, an overall optimism has pervaded the economic discussion that has consistently been unfulfilled by actual performance. The government is continuously over promising and under delivering. Unfortunately, no one seems to care.
http://www.zerohedge.com/news/2013-08-09/peter-schiff-half-full-economy
Detroit Bankruptcy Provokes Calls For Nationwide Assault On Pensions
…
The most aggressive statements were made by billionaire New York City mayor Michael Bloomberg, who said in a speech Tuesday that Detroit is “the road to ruin for any American city. I believe that the Detroit experience holds lessons for every American city—and that we have an obligation to protect our future by examining those lessons.”
Bloomberg then laid the blame for the Detroit bankruptcy at the feet of workers and retirees:
“One of the major reasons that Detroit could not stop its downward spiral was that its labor costs—especially its retiree costs for pensions and health care—crowded out its ability to invest in the things that make a city an attractive place to live and visit.”
Bloomberg’s speech culminated in a blunt threat to workers and retirees in America’s most populated city. “We are only a short distance from relapsing into decline if we allow health care and pension benefits to crowd out the investments that make New York City a place where people want to live, work, study, and visit,” he said.
…
http://www.wsws.org/en/articles/2013/08/12/bank-a12.html
Why Are So Many People Choosing To Leave The United States Permanently?
-The U.S. economy has been steadily declining for many years and that decline now seems to be accelerating.
-We are being taxed into oblivion.
-The quality of the jobs in our economy is rapidly declining.
-The middle class is continually shrinking.
-Poverty is exploding.
-Escalating social decay in our major cities.
-Our culture is rapidly going down the toilet.
-Our health care system has become a complete mess and a giant money making scam. Obamacare is only going to make things even worse.
-Our politicians are tremendously corrupt, but the same clowns just keep getting sent back to D.C. over and over again.
-Our nation seems to be on a relentless march toward collectivism.
-America is rapidly turning into a “Big Brother” police state that is run by control freaks that seem obsessed with watching, tracking, monitoring and controlling virtually everything that we do.
http://theeconomiccollapseblog.com/archives/why-are-so-many-people-choosing-to-leave-the-united-states-permanently
A QUADRILLION YEN AND COUNTING – THE JAPANESE DEBT BOMB COULD SET OFF GLOBAL PANIC AT ANY MOMENT…”If interest rates go up, the game is over.”
http://www.silverdoctors.com/a-quadrillion-yen-and-counting-the-japanese-debt-bomb-could-set-off-global-panic-at-any-moment/
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