Putin Calls Out Washington

Submitted by Dr. Paul Craig Roberts – Institute for Public Economy

“We can no longer tolerate the state of affairs in the world.” President Vladimir Putin

Last Wednesday (28 Sept 2015) the world saw the difference between Russia and Washington. Putin’s approach is truth-based; Obama’s is vain boasts and lies, and Obama is running out of lies.

By telling the truth at a time of universal deceit, Putin committed a revolutionary act. Referring to the slaughter, destruction, and chaos that Washington has brought to the Middle East, North Africa, and Ukraine, and the extreme jihadist forces that have been unleashed, Putin asked Washington: “Do you realize what you have done?”

Putin’s question reminds me of the question Joseph Welch asked witch-hunting Senator Joseph McCarthy: “Have you no sense of decency?” Welch’s question is attributed with initiating the decline of McCarthy’s career.

Perhaps Putin’s question will have the same impact and bring the reign of “American Exceptionalism” to an end. Continue reading

Payroll Reports Sink ‘Dollar’ Further

Submitted by Jeffrey Snider  –  Alhambra Investment Partners

The doubts about the payroll report were taken as no doubts at all in “dollar” trading. The three indications I gave yesterday in terms of representing liquidity were all pushed farther after the jobs data essentially confirmed the direction where this is all likely heading. While the yen may have been more muted, and the “shock” wearing off in later morning trading, treasuries were heavily bid higher (price) bringing intraday yields back to the lows of August 24.

ABOOK Oct 2015 Dollar YenABOOK Oct 2015 Dollar 10s

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EU Moloch in a Fresh Bid to Inflate

Submitted by Pater Tenebrarum  –  The Acting Man Blog

Brussels Alters Capital Requirements to “Spur Lending”

Saints preserve us, the central planners in Brussels are giving birth to new inflationist ideas. Apparently the 2008 crisis wasn’t enough of a wake-up call. It should be clear by now even to the densest observers that a fractionally reserved banking system that flagrantly over-trades its capital is prone to collapse when the tide is going out. 2008 was really nothing but a brief reminder of this fact.

The political and bureaucratic classes will certainly never go back to sound money or free banking. The State’s paws will remain firmly embedded in the business of money, as the modern-day welfare/warfare states and the ever-growing hordes of cronies and zombies they have to keep well-fed have become utterly dependent on fiat money inflation. This will continue until the bitter end. New measures are now being designed to hasten its arrival.


Designed by Bjarke Ingels

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The Daily Debt Rattle

Submitted by Raúl Ilargi Meijer  –  The Automatic Earth

Markets Are Back At Panic Levels, Says Credit Suisse (MarketWatch)
Post-QE “S&P Should Be Trading At Half Of Its Value”: Deutsche Bank (ZH)
Oil Slump Plays Havoc With The Junk-Bond Market (MarketWatch)
Oil Bulls Lose Faith in Recovery as Russia Adds to Global Glut (Bloomberg)
Economists Can’t Find the Silver Lining in US Jobs Report (Bloomberg)
US Hedge Funds Brace For Worst Year Since Financial Crisis (Reuters)
US System Designed To Prevent Financial Crisis ‘Likely To Fail’ (MarketWatch)
Fed’s Fischer Says Financial Stability Toolkit May Need To Grow (Reuters)
IMF’s Mass Debt Relief Call For Greece Set To Be Rejected By Europe (Telegraph)
New Greek Debt Framework Not So Flattering For Italy, Spain, Portugal (WSJ)
‘Bubbles Are All Over The Place’: Ron Paul (RT)
History Isn’t A Guide When Market Is Playing By A New Set Of Rules (Ind.)
The Failure Of Central Banking: The French Revolution Case Study (Lebowitz)
UK Car Emissions Test Body Receives 70% Of Cash From Motor Industry (Observer)
The Record US Military Budget. Spiralling Growth of America’s War Economy (Davies)
153,000 Refugees Arrived In Greece In September Alone (UNHCR)
280,000 Refugees Arrived In Germany In September (AFP)

Read much more here: Debt Rattle October 4 2015 – TheAutomaticEarth.com