zerohedge.com / by Tyler Durden on 05/28/2015 19:00
While Ben Bernanke will never agree that global economic growth has ground to a halt as a result of his monetary policies, a phenomenon which in the past year has been dubbed “secular stagnation” by the very serious weathermen (and will certainly never admit the reason for such stagnation), with every passing month one thing becomes clear: there can be no growth and certainly no prosperity for the broader population with a $200 trillion (and rising at over $10 trillion per year) overhang in global debt. And now, even Goldman gets it.
Having recently cut its estimate of US trend productivity growth to 1.5%, in a shocking move earlier today, Goldman admitted US trend growth is far less than previously speculated (or, “secularly stagnating“) and moments ago lowered its long-term potential GDP. The bank says: “after adjusting for a drag from government sector productivity and incorporating an updated assessment of trend labor force growth, we now see long-run potential GDP growth at 1¾%, half a percentage point below our prior estimate.”
This is a huge deal as Goldman just recalibrated every single economic (i.e., inflation, employment) and financial (i.e., bond rates, leverage) equation by more than 20%, not to mention the amount of implied residual slack in the economy. In short, an absolutely massive amount!
endoftheamericandream.com / By Michael Snyder on May 27th, 2015
Hollywood has a long history of inserting political messages, social commentaries, subliminal effects and even cryptic warnings about the future into big budget films. So is someone attempting to use “San Andreas” to tell us something? For many years, doomsayers have been warning that the “Big One” is going to come along and rip the coastline of California to shreds. Up until this moment, it hasn’t happened, but without a doubt we have moved into a time of increased geological activity all over the globe. As you read this article, 42 volcanoes around the planet are currently erupting. That means that the number of volcanoes erupting right now is greater than the 20th century’s average for an entire year. In addition, we have been witnessing a great deal of very unusual earthquake activity lately. Just in the United States, we have seen unusual earthquakes hit Michigan, Texas, Mississippi, California, Idaho And Washington within the last month or so. Could it be possible that our planet has entered a period of heightened seismic activity? And could it also be possible that someone behind “San Andreas” is aware of this and is trying to warn us about what is coming in our future?
Of course just about everyone in the scientific community acknowledges that the “Big One” is eventually coming to California. In fact, the U.S. Geological Survey recently came out and said that the probability of a megaquake along the west coast is greater than they had previously been projecting…
VIENNA, Austria — A decision by the Austrian central bank to repatriate some gold from London by 2020 is “absolutely not” related to the possibility that Britain will leave the European Union, Governor Ewald Nowotny told a news conference on Thursday.
He said it instead reflected a trend among central banks, including Germany’s Bundesbank, to hold more reserves at home.
investmentresearchdynamics.com / By Dave Kranzler /
The media propagandists, Wall Street snake-oil pimps and U.S. policymakers collectively like to point the finger at the rest of the world when addressing the issue of debt. But when you total up all Government + private sector debt, the U.S. is the most debt-laden country in the history of the universe.
As of October 2014, the latest period for which the data is available, total credit market instruments – meaning all outstanding debt – in the U.S. economy was $58 trillion LINK. With the perverse increase in student loan, auto, mortgage and Treasury debt since then, the number is probably pushing $59 trillion. The latest “measurement” of GDP by the Government was $17.7 trillion. This puts total systemic debt at 333% of GDP.
NEW HAVEN – As the US Congress grapples with the ever-contentious Trans-Pacific Partnership – President Barack Obama’s signature trade legislation – a major stumbling block looms. On May 22, the Senate avoided it, by narrowly defeating – 51 to 48 – a proposed “currency manipulation” amendment to a bill that gives Obama so-called “fast-track” authority to negotiate the TPP. But the issue could be resurrected as the debate shifts to the House of Representatives, where support is strong for “enforceable currency rules.”
For at least a decade, Congress has been focusing on currency manipulation – a charge leveled at countries that purportedly intervene in foreign-exchange markets in order to suppress their currencies’ value, thereby subsidizing exports.
Those men who wrote our Constitution made it perfectly intelligible to anyone who cared to read it. They also left some flexibility in its articles to ensure that as time passed and circumstances changed the document would remain viable as the indispensable protector of the republic they created and of the liberty of citizens who delegated a limited amount of their sovereign power to the national government through its provisions. And after a long and often angry ratification debate, the first congress added a bill of rights to the Constitution as that document’s first ten amendments. These amendments were fully as clear as the text — perhaps more so — but less flexible than the body of the document because they dealt with the tenets of republican liberty which, if regularly and deliberately violated by the national government, would require that Americans, to paraphrase Jefferson, demolish the existing government and erect a new one that would better safeguard their liberties and their republic’s security.
In recent decades, however, Americans have been treated to an endless stream of politicians, academics, lawyers, and pundits who describe the opaqueness of the Founder’s Constitution and the need for “experts” to decipher or infer what the document means. As a result, we now have presidents who take the country to war on their whim; politicians who are legally bribed by “campaign contributions” from rich individuals, corporations, labor unions, and foreign lobbies and governments based on an absurd reading of the Constitution; a public that is increasingly endangered by flamboyant blasphemers who seek violence and war under the protection of the First Amendment; and the routine criminality of executive branch officials who refuse to obey their oath of office to execute the laws. We also have the overwhelming majority of both political parties willing to destroy the Fourth Amendment in the name of providing for national security against an enemy they have resolutely refused to either stop motivating or militarily annihilate. Together these realities amount to a more-than-full justification for Americans to recall that, as Jefferson wrote, “it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.”
In the midst of America’s third consecutive despotic presidency — each more despotic than its predecessor, and all more than Nixon — the citizenry now sees two singularly courageous individuals standing up and saying the destruction of the Fourth Amendment must stop. The junior senator from Kentucky, Mr. Paul, and FOX’s senior judicial analyst, Judge Andrew Napolitano, have been and are saying that it is unconstitutional for any congress and/or president to order NSA to collect the electronic communications of all Americans. (NB: Note to Congressman Gowdy: Can’t you get Hillary Clinton’s e-mail from NSA? Or is the unconstitutional collection system rigged so the corrupt elite are exempt?) If the U.S. educational system was not run by people who yearn and work for despotism, and if that system taught civics and history instead of political indoctrination, the senator and the judge would not be so alone in their opposition to tyranny. (more…)
thedailysheeple.com / Joshua Krause / May 28th, 2015
Colonel Gulmorod Khalimov, the commander of Tajikistan’s special police force, announced on YouTube yesterday that he has now defected to ISIS. He disappeared last month, only to reappear this week in a 10 minute video, where he condemned the United States and Russia, as well as his country’s current regime.
Khalimov was in charge of Tajikistan’s OMON, an elite police force that emerged in several Soviet republics in the 1980’s, and is comparable to America’s SWAT teams or Germany’s GSG-9. They’re responsible for counter-terror operations, crowd control, and VIP protection.