The Fortune Cookie Knows

… Just as I was ready to hit bottom, having dimly decided to give the glories of gluttony one more try (but this time with less bacon and more pornography), was absolutely delighted to read that Ben Bernanke was paid $250,000 to give a speech. A speech!

I was reborn! The reason for my new-found zest for living is because Ben Bernanke is BOTH a total, monumental failure as a former chairman of the Federal Reserve (I mean, look around you!), and an arrogant Keynesian dork-face chump if there ever was one. Yet, look at the loot!

One speech! A quarter mill! I mean, this guy is absolutely, completely delusional by actually thinking, and believing, that laughable Keynesian econometric gibberish (to replace falling consumer spending with more government spending) can prevent the horrific economic collapse that always comes after radical expansions of the money supply that distorts the whole price structure of everything into a bloated, inflationary insanity.

Continue reading

Advertisements

Bubbles Never Pop Painlessly

By Michael Pento – Re-Bloged From http://www.Goldd-Eagle.com

Investors are obsessed over predicting the timing of the Fed’s first interest rate hike. Will it raise the Fed Funds rate in September, or wait until next year? But it is far more important to get a grasp on the pace of rate hikes. Will it be a one and done move, or does this mark the beginning of an incremental tightening cycle?  Those of us who are not in the inner circle are forced to only speculate.

But one thing is certain: If history is any guide, whatever they do the Fed will get it wrong.  Most market commentators place unfounded belief in the Fed’s acumen. But the truth is: I wouldn’t trust the Fed to tell me what the weather is going to do in the next 30 seconds–even if they were looking out the window.

Continue reading

Weekly Climate and Energy News Roundup #185

The Week That Was: June 27, 2015 – Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Delayed Offensive: On June 22, the White House and the EPA announced a new offensive on global warming, now called climate change. “The plan wraps in a handful of federal departments that deal with health, the environment or both, from the Department of Health and Human Services (HHS) and the Centers for Disease Control (CDC) to the Environmental Protection Agency (EPA) and the National Oceanic and Atmospheric Administration (NOAA).”

The EPA report announcing the plan asserted global warming/climate change a dire threat to the economy and to human health. One of the bolder claims was that up to 57,000 Americans could die per year from poor air quality by 2100, if action is not taken now. “This report summarizes results from the Climate Change Impacts and Risks Analysis (CIRA) project, a peer-reviewed study comparing impacts in a future with significant global action on climate change to a future in which current greenhouse gas emissions continue to rise.”

The EPA fails to establish that “poor air quality” is directly related to human-caused global warming.

Continue reading

The Beginning Of “The Ending Sequence!”

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

This coming week could be very tellingChina just ended a disastrous week and finished just whiskers away from entering bear market (-20%) territory. Credit markets all over the world are weakening and yields are rising.  Greece will not make their June 30 payment(s) and probably go through a referendum to decide whether or not to flip their creditors the bird in a meaningless vote.  In fact, Greece will probably “go boom” this week.  Their banks and stock markets may not open Monday morning.  Two days later, some sort of plan will need to be concocted to classify their bankruptcy as not a “DEFAULT”, otherwise a $3 trillion fuse to a $1.4 quadrillion bomb will be lit!  These and more will be very important “mid-term exams”, any failure will bleed over into derivatives and become “final and terminal exams” with zero chance of a passing grade!

Continue reading

Don’t Push A Bad Position!

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

“Don’t push a bad position”!  This is good advice in many varied quests.  It is good advice in games like chess or poker.  Also good advice in sports, business, politics, geopolitics and certainly in militarily ventures.  Today we will look at two separate issues where “bad positions” are being pushed to the wall!

First, we have an insane situation brewing in COMEX silver.  The open interest  finally exceeded 200,000 contracts (1 billion ounces).  I believe the only other time this much open interest existed was back in 1980 or ’81.  This makes no sense whatsoever, the price is again plumbing 4 year lows yet open interest has moved to record highs?  The fact open interest has expanded while price has declined is proof positive the “initiation” of this expanded open interest has been by “shorts” but absorbed by “someone” on the other side of the trade.  Total global production of silver is only 800 million ounces or thereabouts so COMEX shorts have contracted to deliver 25% more silver than will even be produced globally over the next 12 months.  Silver available for COMEX delivery only totals 57 million ounces so they sit on a naked short time bomb of more than 950 million ounces!

Continue reading

Bank Depositor Protection Act

cropped-bob-shapiro.jpg   By Bob Shapiro

I generally am NOT a fan of business regulation. I believe that simple enforcement of laws against fraud and other crimes should be sufficient to keep businesses on the straight and narrow.

Diligent enforcement of the law, together with every business’ best interest – serve customers, employees, and owners faithfully, or go out of business – should be all that is needed.

However, in many industries, large businesses have captured the regulators and have made a mockery of diligent law enforcement.

With that in mind, and mindful of the daily increase in the risk of a financial meltdown in the US, which would steal the savings of most Americans, I would like to propose a new regulation. (I apologize in advance for breaking one of my own cardinal rules.) But first, a little background.

Continue reading

Apocalyptic Fear-mongering: Sometimes Rush Limbaugh is Right!

By Jim Steele,director emeritus Sierra Nevada Field Campus, San Francisco State University and author of Landscapes & Cycles: An Environmentalist’s Journey to Climate Skepticism – Re-Blogged From http://www.WattsUpWithThat.com

Thirty years ago I never would have dreamed I would or could utter the words of my title. As a left-leaning young ecologist, I hated the way Limbaugh painted all environmentalists as “whackos”! I was a strong believer in the Endangered Species Act as a law that would ensure people stopped to consider win-win solutions for humans and all other species. I believed conservation science could guide us toward wise environmental stewardship, and when married to innovative entrepreneurial endeavors, we could build a better world for all. As director of a university environmental field station, I met people of all political persuasions eager to enjoy and protect the environment, and I believed both the left and right would rally around sound environmental science. So why did Rush label us as whackos? I saw Limbaugh’s polarizing polemics as an attack on the environment. But now I must agree with Rush’s recent view that “Apocalyptic, Fear-Mongering Accelerates the Decline of Our Culture”. In his critique of a newly published paper, “Accelerated modern human–induced species losses: Entering the sixth mass extinction” (hereafter Ceballos and Ehrlich 2015), Rush correctly points out that it is just another example of apocalyptic fear mongering that drives some people into hopeless despair, while forcing others to ignore scientists’ steady drone that the end of the world is before us.

Continue reading