On Wire

He was a patriot, a hero, a ­genial gentleman and a great American. You can’t pick up a newspaper or go near a television without hearing leftists gush with praise for the late President George H.W. Bush. Who knew they felt this way? And you are not mistaken if the outpouring of previously unknown affection for … Read more

by John Rubino Alasdair Macleod on the coming “inflationary credit crisis” … Bill Black: Deutsche Bank is a criminal enterprise that might bring down the global financial system … Jim Rickards explains the coming “monetary reset” … Peter Schiff: “We’re in a recession and this is a bear market. Gold should be a lot higher” … Read more

BY PATRICK WATSON By most measures, the US economy is performing okay. GDP growth is still near 3.5%. Unemployment is below 4%. Inflation is up a bit but still historically low. Yes, the data has flaws. There’s plenty of regional variation. Your mileage may vary. But conditions could be a lot worse. The problem: Sometimes the … Read more

The U.S. stock market capitalization as a percent of GDP (Warren Buffett's favorite indicator) shows that we're at 1929 and dot-com bubble valuations: https://t.co/yAKYS3DTNv $QQQ $SPY pic.twitter.com/cGCXFh9bVf — Jesse Colombo (@TheBubbleBubble) December 4, 2018 https://twitter.com/hks55/status/1070091893642452992 https://twitter.com/Montyrumbold_/status/1070036519929421824 $VIX Bollingers almost at max oversold..still some potential room to the downside but I’m getting interested at these levels … Read more

via Michael Hudson: Adapted from …and Forgive Them Their Debts: Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year. Islet. November 15, 2018.  There has been an explosion of discussion about whether to cancel student debts. Critics of the idea point out that wealthy people would be the main gainers, posing moral hazard. The debate … Read more

There was a time when European governments couldn’t utter a fiscal policy statement without mentioning the word “austerity.” Now, the concept seems to have all but disappeared from public discourse. Is the era of austerity finally over, and did austerity policies — essentially, those encompassing spending cuts and tax increases — achieve what they were … Read more

via CBSNEWS: Wells Fargo says a computer glitch is partly to blame for an error affecting an estimated 545 customers who lost their homes. The giant bank filed papers with the Securities and Exchange Commission last month, revealing it incorrectly denied 870 loan modification requests. About 60 percent of those homeowners went into foreclosure. Legislators, … Read more

via knowledge.wharton: Deutsche Bank faces its most severe test yet in the wake of police raids on its Frankfurt offices last Thursday over suspicions of helping its clients in money laundering. The scene was dramatic: 170 officers descended on six Deutsche Bank buildings, including its headquarters, and seized documents and files, according to an NPR report. German … Read more

by YouOnlyLiftedOnce On 27 November 2018, the Australian Parliament has concluded a detailed report with detailed proposal including classify games including loot boxes as gambling. [1] After repeated delayed release and confirmed under-performance of EA’s latest releases Star Wars: Battlefront II and Battlefield V, compounded with increasing likelihood of complete lootbox bans, which accounts for … Read more

via Bloomberg: A key regulator of Wall Street banks has joined the Federal Reserve in warning about risky corporate borrowing that has reached record levels as lender protections are eroded. The Office of the Comptroller of the Currency cautioned in its Semiannual Risk Perspective released Monday that it’s looking at “transactions with increasing leverage, weaker capital structures, … Read more

FRANKFURT (Reuters) – European Central Bank policymakers are debating ways to wean the euro zone off years of easy money, floating ideas such as a new kind of multi-year loans and staggered increases in interest rates, sources told Reuters. The ECB will have a difficult task over the next couple of years: dialing back its … Read more

via J-L-Picard: Sources: ​ https://historyinpieces.com/research/presidential-inauguration-dates ​ https://en.wikipedia.org/wiki/List_of_Presidents_of_the_United_States_by_date_of_death ​ Made on MS Excel 365 ​ Inspired by: https://xkcd.com/893/  

via Meadow Clark: China’s social credit system is in full swing and has already blacklisted more than 15 million Chinese residents from travel. Is it coming soon to the U.S.? Recently, The Organic Prepper reported some shocking news of China’s newest rollout: a social credit system. It’s a system of surveillance and governance using a social scoring system … Read more