Cash Is Trash

By Bill Holter – Re-Blogged From http://www.Gold-Eagle.com

After last week’s air tragedy, maybe a poor thought process but please stay with me.  Would you ever get on an airplane if there was no pilot?  Would you be confident of reaching your destination safely?  Of course not.  Whether you know it or not, you are living in an economic and financial “airplane” with Janet Yellen as the pilot.  The sad thing is this, even she admits the airplane is broken, I’ll explain why shortly.

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We Are At A Similar Situation Where Japan Was Before 1989!

The markets are only “allowed” to go up! The more you control the less you are in control!

Why do I say that – because in Japan in the end of the eighties there was only one way and that was up till the bubble broke in 1989 and we all know what happened afterwards. The Japanese even didn’t have any put options until 1987 when the modern OTC equity derivatives market was born with the creation of put options that were linked to the performance of the Nikkei 225 Index and that came with debt instruments issued by Japanese companies. London banks

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What the F*#k Should Investors Do? (Part 2)

(This article was written last October! Several forecasts has turned out right on the money. The author’s advice still is quite valuable today.  –Bob)

By Vitaliy Katsenelson – Re-Blogged From http://www.institutionalinvestor.com/

In my column last Friday, in response to an e-mail I had received from an investor asking “what the fuck” he should do, I promised to explain what we’re doing with our portfolio. I will, but first let me tell you a story. When I was a sophomore in college, I was taking five or six classes and had a full-time job and a full-time (more like overtime) girlfriend. I was approaching finals, I had to study for lots of tests and turn in assignments, and to make matters worse, I had procrastinated until the last minute.

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Weekly Climate and Energy News Roundup #174

The Week That Was: March 28, 2015 – Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project (SEPP)

Number of the Week: 6.2%

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Intellectual Freedom and Censorship: On her web site, Donna Laframboise, discusses an open letter to museums signed by 54 individuals who described themselves as “members of the scientific community. “ The letter objects to museums receiving funds from “those who profit from fossil fuels or fund lobby groups that misrepresent climate science.” The letter specifically discusses David Koch, who “is a major donor, exhibit sponsor and trustee on the Board of Directors at the Smithsonian’s National Museum of Natural History, and the American Museum of Natural History.” The letter asserts that “Mr. Koch also funds a large network of climate-change-denying organizations, spending over $67 million since 1997 to fund groups denying climate change science.”

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NYSE Margin Debt At An All-Time Record High Heralds An Impending Stocks Crash

By Doug Short – Re-Blogged From http://www.Silvr-Phoenix500.com

The astonishing surge in leverage (i.e. NYSE Margin Debt) in late 1999 peaked in March 2000, the same month that the S&P500 hit its all-time daily high, although the highest monthly close for that year was five months later in August. A similar surge NYSE Margin Debt began in 2006, peaking in July 2007, three months before the market peak…and subsequent crash.

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Believing Impossible Things

cropped-bob-shapiro.jpg   By Bob Shapiro

The other night, I talked with my new friend Jack about the Economy, Taxes, and eventually Social Security. I explained that the unfunded liability for Social Security was far beyond what was possible to meet, and that somewhere down the road, Social Security would default.

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Warren Buffett Predicting Upcoming Stock Market Crash

When it comes to investing in the stock market, we’re told to follow the smart money. Who might that be? The most influential investors/businessmen in America today are Warren Buffett, John Paulson, and George Soros. Their investing acumen has helped them amass billions of dollars and millions of followers.

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A Conservative Immigration Agenda

(Here’s some food for thought on the immigration issue. Please note: there are several items that I have issue with! However, other suggestions may be worth incorporating in our plans going forward.  -Bob)

By Conn Carroll – Re-Blogged From http://www.townhall.com

When it comes to immigration reform, we all know what conservatives are against. We are against the 2012 Deferred Action for Childhood Arrivals program. We are against the 2013 Gang of Eight bill. And we are against the 2014 Deferred Action for Parental Accountability program.

But what are we for? The system is clearly broken. It takes way too long for law-abiding immigrants to become citizens, the wealthy and powerful game the system for their friends, and, now that the economy is revering, the number of illegal immigrants is rising again.

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America’s Standard of Living

cropped-bob-shapiro.jpg   By Bob Shapiro

How does the Standard of Living in an Economy grow?

During the Dark and Middle Ages, there was very little innovation. There was very little effort expended to find new ways of doing things – of finding ways to create more while using the same amount of effort.

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On Obamacare, It’s the President Who Refuses to Embrace Reality

By Peter Suderman – Re-Blogged From http://www.Reason.com

Obamacare turns five years old this week, and to mark the occasion, President Obama took after critics of the health law, noting their ongoing opposition while briefly laying out the reasons he believes it to be a success. “It’s time to embrace reality,” he said, according to The Hill.

The president ticked off a string of points in support of the law: an additional 16 million insured, 50,000 fewer preventable deaths, slow growth in health premium costs, and lower deficit projections as a result.

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Financial System Will Collapse Just a Matter of When-Laurence Kotlikoff

By Greg Hunter – Re-Blogged From http://www.usawatchdog.com

Renowned economist Laurence Kotlikoff recently testified at the U.S. Senate about the runaway U.S. budget.  How bad is it?  Kotlikoff says, “I told them the real (2014) deficit was $5 trillion, not the $500 billion or $300 billion or whatever it was announced to be this year.  Almost all the liabilities of the government are being kept off the books by bogus accounting. . . . The government is 58% underfinanced . . . . Social Security is 33% underfinanced . . . . So, the entire government enterprise is in worse fiscal shape than Social Security is, but they are both in terrible shape.”  So, how much is America on the hook for in the future?  Kotlikoff contends, “If you take all the expenditures that the government is expected to make, as projected by the Congressional Budget Office (CBO), all the spending on defense, repairing the roads, paying for the Supreme Court Justices’ salaries, Social Security, Medicare, Medicaid, welfare, everything and take all those expenditures into the future . . . and compare that to all the taxes that are projected to come in, and the difference is $210 trillion.  That’s the fiscal gap.  That’s our true debt.”

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Federal Budget in Pictures

Federal Spending and Debt are Out of Control – Re-Blogged From http://www.heritage.org

If America does not change course, the future will be dramatically worse. Now more than ever, it is crucial that Americans understand what our nation’s spending, taxes, and debt mean for them and their families. The Heritage Foundation’s Federal Budget in Pictures offers a unique tool to learn about the federal budget in a clear and compelling way.

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A Tale Of Two Economies: Singapore And Cuba

By Frank Holmes – Re-Blogged From http://www.Silver-Phoenix500.com

It would be nearly impossible to find two world leaders in living memory whose influence is more inextricably linked to the countries they presided over than Cuba’s Fidel Castro and Singapore’s Lee Kuan Yew, who passed away this Monday at the age of 91.

You might find this hard to believe now, but in 1959—the year both leaders assumed power—Cuba was a much wealthier nation than Singapore.

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We Are All Trapped…

By Greg Hunter – Re-Blogged From http://www.Silver-Phoenix500.com

Finance and economic expert Alasdair Macleod sees a fragile global economy with many ways to crash.  Macleod starts in Europe with the euro currency, “We are looking at a currency which, at any moment, triggered by Greece or triggered by a butterfly in the jungle, could begin to unravel.  I actually think the lack of any history behind the euro is probably the worst thing that it has.  People can go off the euro incredibly quickly. . . . That is one area where it could happen. . . . Look what’s going on in Japan.  They are printing money, and its hyperinflation.  It is monetary hyperinflation which, at some stage, is going to be price hyperinflation.

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China vs the 1930s US

By Bill Holter – Re-Blogged From http://www.Gold-Eagle.com

Many people believe the Chinese are on the cusp of replacing the U.S. in many fashions, I believe this myself.  There are others out there who believe the Chinese economy and financial markets will crash and burn with all the rest when the derivatives chain finally breaks, I don’t disagree with this either.  Let’s look at what the Chinese have done, what they are doing and where they may end up.  The spoiler is this, I believe you can equate the Chinese to where the United States stood in the late 1920′s and early 1930′s.

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The Problem of Staff Quality in Urban Schools

(I was a math teacher for a few years in a couple of suburban school districts. While most of the teachers which I came into contact with seemed quite competent, occasionally one would say something which would make me scratch my head. One middle school science teacher didn’t have a grasp of the distances in our solar system, asking me during a conversation if our moon was 240 thousand miles away or 240 million. Apparently, this is light stuff compared to the lack of basic skills of teaching and administrative staff in at least one urban school district.  –Bob)

By Jeffrey M. Hartman – Re-Blogged From http://jeffreymhartman.com

Urban schools tend to struggle with every aspect of their collective mission. Educating exceptionally needy students while struggling to pay electric bills makes for a disheartening endeavor. Compounding this, the public can be less than sympathetic to the travails of these schools and their employees. Taxpayers often see the imbalance between expenditures and results as a reason to cry foul. The public directs most of its scorn at school leadership. However, this same public reserves a fair share for those working at the school level. Having worked at the school level myself, I sadly must admit that an unspoken issue weighing on urban schools is the quality of their employees.

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House Introduces Bill to Repeal the Patriot Act

   By Julie Borowski – Re-Blogged From http://www.freedomworks.org

Rep. Mark Pocan (D-Wis.) and Rep. Thomas Massie (R-Ky.) have introduced the Surveillance State Repeal Act that would end the NSA’s unconstitutional domestic spying. I can say without hesitation: this bill is the real deal.

“The Patriot Act contains many provisions that violate the Fourth Amendment and have led to a dramatic expansion of our domestic surveillance state,” said Rep. Massie. “Our Founding Fathers fought and died to stop the kind of warrantless spying and searches that the Patriot Act and the FISA Amendments Act authorize. It is long past time to repeal the Patriot Act and reassert the constitutional rights of all Americans. I am proud to co-sponsor Congressman Pocan’s bill and look forward to working with him on this issue.”

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Oil-Train Derailments in Canada Expose Folly of Anti-Pipeline Movement

By Kenneth P. Green – Re-Blogged From http://www.FraserInstitute.org

Four recent oil-train derailments—two in the United States and two in Canada accompanied by yet another drive-by rhetorical smear of the Keystone XL pipeline by U.S. President Barack Obama—have re-invigorated the debate over how Canadians and Americans transport oil. The most recent spills and explosions in Illinois, West Virginia and Ontario all involved long oil trains of about 100 cars. So far as we know, they all met the most recent railcar designs and regulatory requirements in the U.S. and Canada.

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Reich Rages Against the Machines

Luddite inequality warriors attack technological progress
By ANYTHING PEACEFUL – Re-Blogged From http://www.FEE.org

Former Labor Secretary (and serial doom-monger) Robert Reich is stoking the fires of paranoia about robots and automation as the latest, greatest threats to “equality,” prompting inequality warriors to turn against the machines, after they’re through with the capitalists, the bankers, and the 1 percent.

But George Mason Economics Professor (and former FEE President) Don Boudreax offers a pointed rebuttal to the idea that we should fear mechanization and technology in his letter to Alternet:

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When Internet Explorer Ruled the World

Microsoft announced this month that it was finally taking Internet Explorer out behind the woodshed, officially ending its two decade reign as the king (and then later the court jester) of web browsers. The main focus of media coverage has been how IE was outcompeted by Firefox, Safari, and Chrome — not to mention mobile apps that are rapidly overtaking traditional computer programs as a share of Internet browsing. But once upon a time, Internet Explorer ruled the World Wide Web. Continue reading

The Hilarity of George Soros in Munich

By F. William Engdahl – Re-Blogged From http://normanpilon.com

Sometimes I come across a comment from someone in the public eye that is so ridiculous it must not be let slip from view. Such was the case with remarks made by a man whose legal shenanigans I once personally faced in a Hamburg court (and survived quite well, thank you). I refer to a Hungarian-born American billionaire speculator and financier of tax-exempt foundations around the world, whose agenda remarkably parallels that of the US State Department for regime change.

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Weekly Climate and Energy News Roundup #173

The Week That Was: March 21, 2015 – Brought to You by www.SEPP.org The Science and Environmental Policy Project

THIS WEEK: By Ken Haapala, President, SEPP

Certainty: The quote [below] from logician Bertrand Russell is part of his extensive writings in praise of science and its capability to calculate probability of error based upon evidence, often coming from repeated trials. Not religious, Russell often differentiated between scientists, religious or not, as a group, and politicians. Over the past few decades the UN Intergovernmental Panel on Climate Change (IPCC) transformed from an organization for science to one controlled by politicians and expressing a cult-like belief – the belief that human emissions of carbon dioxide, and other greenhouse gases, are causing unprecedented and dangerous global warming. In the process, the IPCC has turned probability analysis from objective frequency testing to guesswork. The assertions of certainty about human cause in the Summary for Policymakers (SPM) of the Fifth Assessment Report (AR-5) is but the latest example.

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California Raisin Farmers Get Another Day in Court

By – Re-Blogged From http://www.CFACT.org

The uncompensated taking of up to half a grower’s raisin crop ought not stand!

A scheme cooked up by bureaucrats at the U.S. Department of Agriculture (USDA) 66 years ago that restricts raisin growers’ freedom to farm in favor of a government-sponsored cartel is at the center of a dispute soon to be heard before the U.S. Supreme Court.

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Justice for All: FreedomWorks’ 5 Principles for a Better Justice System

By Jason Pye – Re-Blogged From http://www.FreedomWorks.org

The American justice system is collapsing under its own weight. Big government policies passed by Congress have led to a justice system that traps nonviolent offenders in an endless cycle. This deprives them of economic opportunities and costs taxpayers billions of dollars each year. The Internal Revenue Service and law enforcement agencies at all levels of government have run roughshod over private property rights and due process through abuse of civil asset forfeiture.

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Solar Power Propaganda vs. the Real World

By – Re-Blogged From http://www.CFACT.org

When a former “senior communications official at the White House” writes a blog post for U.S. News and World Report, you should be able to trust it. But when the author states that the Keystone pipeline (should it be approved) would create only 19 weeks of temporary jobs, everything else he says must be suspect—including the claim that our “energy infrastructure will be 100% solar by 2030.”

I contacted both a union representative and one from TransCanada—the company behind the Keystone pipeline. Each affirmed that the 19-week timeframe was total fantasy. The portion of the Keystone pipeline that remains to be built is 1,179 miles long—the vast majority of that within the U.S.—with construction expected to take 2 years.

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Research: The Minimum Wage and the Great Recession

(Note: The researchers look at the Minimum Wage hike in 2007 and its effects on unskilled labor employment. What they found was that the M.W. increase caused a 4% fall in employment of 25-54 year olds and an 8% fall of 15 to 24 year olds. – Bob)

By Jeffrey Clemens and Michael Wither – Re-Blogged From http://www.Cato.org

Between July 23, 2007, and July 24, 2009, the federal minimum wage rose from $5.15 to $7.25 per hour. Over a similar time period, the employment-to-population ratio declined by 4 percentage points among adults aged 25 to 54 and by 8 percentage points among those aged 15 to 24. Both ratios recovered slowly following the recession’s conclusion, and young-adult employment remains well below its pre-recession peak…. In our research, we analyze the minimum wage’s effects on the employment and income trajectories of low-skilled workers during the Great Recession and subsequent recovery.

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Talk is Cheap

By Bill Holter – Re-Blogged From http://www.Gold-Eagle.com

Wednesday the Fed made their announcement and deleted the famous word “patient”.  I have never seen such a nonsensical frenzy over anything, never mind a single word.  The reaction was everything …except the dollar was bid.  Sadly, reality has also been deleted as the Fed cannot “go there”, if they did and when they do (are forced to), life as we knew it will be history.  Reality is the global economy has stalled.  Most of Europe is in recession, China’s growth has stalled and the U.S., even with fudged numbers will not be able to show any growth.

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The New Order Emerges

By Alasdair Macleod – Re-Blogged From http://www.Silver-Phoenix500.com

China and Russia have taken the lead in establishing the Asian Infrastructure Investment Bank (AIIB), seen as a rival organisation to the World Bank and the Asian Development Bank, which are dominated by the United States with Europe and Japan.

These banks do business at the behest of the old Bretton Woods* order. The AIIB will dance to China and Russia’s tune instead.
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Falling Interest Causes Falling Wages

By Keith Weiner – Re-Blogged From http://www.Silver-Phoenix500.com

Interest rates have been falling for over three decades. Conventional economics has two things to say about this. One, inflation expectations are falling. Monetarists believe that the interest rate is set based on bond traders’ predictions of future price increases. Two, if employment and GDP are weak, then the central bank should increase the money supply. By increasing the money supply, it will cause rising prices, and somehow that causes workers to get hired. Federal Reserve Chair Janet Yellen wrote a paper defending this absurd claim (which I criticized).

Monetary policy is actually putting the hurt on labor. Let’s look at why.

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The Fed’s Bizarro World Economics: Rising Home Prices, Soaring Stocks, Fallen Real Wages

By Anthony B. Sanders – Re-Blogged From http://www.davidstockmanscontracorner.com

I have often wondered when the media would catch on to the REAL story about why the housing market is so slow to comeback, in terms of borrows applying for a mortgage. Particularly since The Federal Reserve has help the holders of capital with it’s monetary expansion.

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NYSE Margin Debt

By Doug Short – Re-Blogged From http://www.advisorperspectives.com

The New York Stock Exchange publishes end-of-month data for margin debt on the NYXdata website, where we can also find historical data back to 1959. Let’s examine the numbers and study the relationship between margin debt and the market, using the S&P 500 as the surrogate for the latter.

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Beware Of The ”Frack-Log”

By Andrew Hoffman – Re-Blogged From http://www.Silver-Phoenix500.com

Why do I spend so much time discussing collapsing oil prices, you ask? Well, for one, because as we wrote back on October 15th – when WTI crude was $83/bbl, compared to $43/bbl this (Monday) morning – “crashing oil prices portend unspeakable horrors.” And this, just a week after October 7th‘s “2008 is back“; as obvious signs of global economic collapse were evident before the price of the world’s most important commodity crashed. As for said “unspeakable horrors,” the political, economic, and social ramifications will be devastating here in the States – where hundreds of high cost, junk-bond financed shale producers face certain bankruptcy, and one-third of S&P 500 capital expenditures dramatic downward revisions. That said, the overseas impact will be still uglier – where everyone from corrupt, inefficient state oil companies

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Does China Have An Option?

By Bill Holter – Re-Blogged From http://www.Gold-Eagle.com

As an addendum to yesterday’s writing, today we should tie together the new alliances and what appears to be Western defections toward the East.  Just overnight, Australia also applied for membership to the Asian Infrastructure Investment Bank (AIIB), a U.S. rebuke is sure to follow, who is next?  With this in mind, it is my belief the Chinese will be the key player in the gold market and the “pricing” of gold in the future.  In turn they will gain even more financial strength because of the massive amounts they have already accumulated.  As a side note, do you believe it is by mistake China is now the largest gold producer in the world?  I think not.  I will give you my theory first, then work my way toward supporting it.

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‘Climate to Severe Weather Linkage’ Falls Flat – No US Tornadoes Reported in March

By Anthony Watts – Re-Blogged From http://www.WattsUpWithThat.com

For The First Time Since 1969, No US Tornadoes Reported In March

The US tornado count for March 2015? Zero. That’s right, so far this month there have been no tornadoes reported in the U.S. — this is only the second time this has happened since 1950, according to Weather Channel meteorologist Greg Forbes.  “We are in uncharted territory with respect to lack of severe weather,” Greg Carbin, a meteorologist at NOAA, said in a statement. “This has never happened in the record of [Storm Prediction Center] watches dating back to 1970.” –Michael Bastasch, Daily Caller, 18 March 2015

So there you have it, despite what projections there may be for the future, and remember projections are not reality until they have been shown to be accurate, the consensus regarding Cyclone Pam is that there is no clear evidence for a link between it and climate change. This means that any responsible scientist would not assume such a link exists, as it hasn’t been proven. The answer must not be ‘it’s difficult to say’ – the only scientifically valid answer is ‘there is no link.’ –David Whitehouse, Global Warming Policy Forum, 17 March 2015

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Why Can’t We Kill a Useless Government Agency

– Re-Blogged FromThe Fiscal Times

Lawmakers are once again trying to close a tiny obscure agency that serves virtually no purpose other than racking up an unnecessary multimillion-dollar tab for taxpayers.

The entire purpose of the National Technical Information Services agency (NTIS) is to compile and sell government documents and scientific research papers to other federal agencies and the private sector.

There’s one big problem. Most of the documents the agency sells can now be accessed online for free, thanks to a handy invention called the Internet – which, to be fair to the NTIS, wasn’t around when the agency was created in the 1950s.

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States Should Defy Unlawful EPA Carbon Dioxide Rules

By Steve Goreham – Re-Blogged From http://www.WattsUpWithThat.com

Originally published in Communities Digital News.

Last June, the Environmental Protection Agency (EPA) proposed its Clean Power Plan as a nationwide regulation to reduce carbon dioxide (CO2) emissions from electrical power plants. Comments to the EPA have now been submitted, and it’s not a surprise that a majority of state governments oppose the plan. In the best interests of US citizens, states should refuse to comply with the proposed EPA Clean Power Plan.

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Four Conflicts Of Interest Between Governments & Retirement Investors

By Daniel R Amermn – Re-Blogged From http://www.Silver-Phoenex500.com

Most retirement account and other long term investors continue to follow the same financial strategies they’ve been following for decades, believing that the “science” of modern finance will reliably build wealth and security for them.

Meanwhile, for some years now and as a matter of openly stated policy, the Federal Reserve, European Central Bank and Bank of Japan, as well as the central banks of other nations have sought to create what are known as “negative real rates of return”.

What needs to be understood is that there are four direct conflicts of interest between current government policies and the most widely followed retirement investment strategies. Indeed, the purpose of massive monetary interventions around the world is to override the usual market forces, in order to meet governmental goals.

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What Is A “Normal” Climate?

Guest Opinion: Dr. Tim Ball – Re-Blogged From http://www.WattsUpWithThat.com

There is a form of argument called reductio ad absurdum. If you can reduce a position to the absurd, it was absurd in the first place. It doesn’t work as well as it used to because there is an embarrassment of absurdity in today’s world. However, there are arguments that are exposed by such an approach.

Al Gore’s fairy tale movie, An Inconvenient Truth claimed global temperature was “just right.” It is as Goldilocks said about porridge, “Not too hot, not too cold, but just right.” The movie fully deserved the Oscar because it was a fairy tale produced in Hollywood, the land of make-believe. The great Goracle declares we must maintain this normal

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Why OPEC Can’t Kill the U.S. Oil Boom

By Matt Egan – Re-Blogged From http://money.cnn.com

OPEC all but declared “mission accomplished” this week in its efforts to thwart U.S. oil production. In a report Monday, the cartel predicted the U.S. shale oil boom could be over by the end of 2015.

The world has too much oil production at the moment, and it has caused crude oil prices to meltdown from over $100 a barrel in the summer to under $45 now — a six-year low.

Someone needs to scale back, but OPEC, led by Saudi Arabia, has refused to make cuts in an effort to squeeze American shale producers.

OPEC is claiming an early victory by pointing to declines in the number of U.S. drilling rigs and significant cuts in big energy’s spending plans as evidence the U.S. is caving.

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A Plan to Cut Military Spending

By Benjamin H. Friedman and Christopher Preble – Re-Blogged From http://www.downsizinggovernment.org and http://www.cato.org

Federal policymakers have supported many extraneous missions for the Department of Defense aside from the basic and constitutional requirement to defend the nation. The result is that America’s military budget has become very bloated. The United States would be better off taking a wait-and-see approach to distant threats, while letting friendly nations bear more of the costs of their own defense, as we discuss in a related essay.

There will always be disorder in various places around the globe, but that doesn’t mean that all foreign problems are a threat to America. We should retain the ability to participate in multilateral efforts to mitigate humanitarian disasters, but we should not mistake such efforts as something relevant to our defense.

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THE SMALL PRINT What the Royal Society Left Out

From a Briefing Paper of the Global Warming Policy Foundation

About this briefing
In December 2014 the Royal Society published A Short Guide to Climate Science, a layman’s introduction to the key issues in the subject. The guide was accompanied by a video and was widely reported in the media.
The authors who wrote the guide were not identified. Nor were the members of the Royal Society asked whether they endorsed it or not. So in referring to it herein as the ‘Royal Society’ guide we only mean to indicate who published it. We have no way of knowing how many Royal Society Fellows actually agree with it.

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Iceland Announces Dropping Bid to Join EU

By http://www.RT.com – Re-Blogged From http://www.LewRockwell.com

Iceland has dropped its bid to join the European Union, the Foreign Ministry in Reykjavik says. The announcement follows pledges made by the country’s euro-skeptic government since winning the 2013 election.

Gunnar Bragi Sveinsson, the Icelandic foreign minister, said in a statement that he had informed Latvia, the current EU president, and the European Commission that his center-right government had decided to withdraw its application, which was submitted six years ago.

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Weekly Climate and Energy News Roundup #172

The Week That Was: March 14, 2015 – Re-Blogged From http://www.WattsUpWithThat.com

By Ken Haapala, President, Science and Environmental Policy Project (SEPP)

Witch Hunt Intensified: Immediately after President Obama’s successful re-election, his campaign organization was transformed into an Internal Revenue Service (IRS) non-profit organization named Organization for Action (OFA). The IRS quickly granted OFA its non-profit status as a 501-c-4 organization, even though the IRS consistently held up such non-profit status for political opponents.

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Hyper-Inflation is a Process

Reserve currency or no, hyperinflation is a process. And we are fully entrenched in that process. History defines the parameters for us.

Too much debt, too much money created from nothing. And ultimately, the loss of confidence, leading to panic. Those who deny it are not looking, not measuring correctly, or both. Much of the confusion comes from the unnecessary use of jargon and euphemism.

Counterintuitively, confidence in the near term will drive the demand to print more. The more we eat away at what is left of the real economy, the more money will be demanded to quiet the masses and bail out the banks again and again.

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Chaos & Climate – Part 1: Linearity

Guest Essay by Kip Hansen – Re-Blogged From http://www.WattsUpWithThat.com

clip_image002“…we should recognise that we are dealing with a coupled nonlinear chaotic system, and therefore that the long-term prediction of future climate states is not possible.”

– IPCC AR4 WG1

 

 

Introduction:

The IPCC has long recognized that the climate system is 1) nonlinear and therefore, 2) chaotic. Unfortunately, few of those dealing in climate science – professional and citizen scientists alike – seem to grasp what this really means. I intend to write a short series of essays to clarify the situation regarding the relationship between Climate and Chaos. This will not be a highly technical discussion, but an even-handed basic introduction to the subject to shed

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John Kerry: Secretary of Mis-State?

Guest opinion: Dr. Tim Ball – Re-Blogged From http://www.WattsUpWithThat.com

The Washington Examiner headline says, “John Kerry calls climate change deniers members of ‘Flat Earth Society’.” It typifies all reports about US Secretary of State John Kerry’s head-on attack on scientists trying to practice properly skeptical science. I challenge John Kerry to produce a single person who studies climate who denies climate change. Apparently everybody, except John Kerry, knows that climate changes all the time, it always has and it always will.

In statements made to support his political agenda, Kerry manages to perpetuate a series of errors, myths and slurs. One is the claim Al Gore made before the US Senate in 2007 that the “science is settled” and the “debate is over.” Kerry said,

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To Infinity and Beyond? Don’t Be Surprised If the U.S. Stock Market Cracks.

By Vasily Katsenelson – Re-Blogged From http://www.imausa.com

(I wrote this article for Institutional Investor Magazine awhile back, but it is still as relevant today as it was when I wrote it)

In 1986 Jeremy Grantham — an investment legend and co-founder of Boston-based asset manager GMO — started to warn his firm’s clients about, and even created an investment product to protect them from what he believed would be, the eventual bursting of the Japanese stock bubble. We all know how that story ended: In 1990 the Japanese market crashed, stocks declined more than 70 percent from their peak, and the Japanese economy slipped into a 25-year coma.

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Fossil Fuels Will Save the World (Really)

By Matt Ridley – Re-Blogged From http://www.WattsUpWithThat.com

The environmental movement has advanced three arguments in recent years for giving up fossil fuels: (1) that we will soon run out of them anyway; (2) that alternative sources of energy will price them out of the marketplace; and (3) that we cannot afford the climate consequences of burning them.

These days, not one of the three arguments is looking very healthy. In fact, a more realistic assessment of our energy and environmental situation suggests that, for decades to come, we will continue to rely overwhelmingly on the fossil fuels that have contributed so dramatically to the world’s prosperity and progress.

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Trading The Parabolic Dollar

By Adam Hamilton – Re-Blogged From http://www.Gold-Eagle.com

The mighty US dollar has been red-hot in March, rocketing higher on the incredible divergence of major central-bank policies.  While the Federal Reserve’s first rate-hike cycle in 9 years looms, the European Central Bank has started aggressively monetizing sovereign debt for the first time ever.  The resulting yield differential has catapulted the dollar parabolic, portending a major reversal and fantastic trading opportunity.

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An Austrian Take On inflation

By Alasdair Macleod – Re-Blogged From http://www.Gold-Eagle.com

We know that today’s macroeconomists are very confused about inflation, if only because despite all experience they think they can print money and increase bank credit with a view to generating price inflation at a controlled 2% rate.

Admittedly, most of them will acknowledge there is more hope than reality about the controlled bit. Economic policy should be based on more than just hope.

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