Bloomberg – The Burning Platform

HEROES & WHORES

With the new Netflix documentary about the Madoff fraud out, I thought reposting my take on the Wall Street scumbags who perpetuated this fraud and the corrupt losers at the SEC who turned a blind eye, would be worthwhile. Written 5 years ago.

“Certainly one of the most important things I learned is that numbers can be deceiving. There is a logic to mathematics, but there is also the underlying human element that must be considered. Numbers can’t lie, but the people who create those numbers can and do. As so many people have learned, forgetting to include human nature in an equation can be devastating.” ― Harry Markopolos, No One Would Listen

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The quote I used from Harry Markopolos’ No One Would Listen book about the Bernie Madoff ponzi scheme in my last article triggered a bittersweet recollection. For me, the experience captured the true nature of our warped financial markets, a culture glorifying wealthy arrogant criminal assholes, while ignoring or ridiculing honest, hard working, highly intelligent truth tellers.

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THE ONLY THING SYSTEMATIC IS THE DESTRUCTION OF AMERICA

“It is difficult to get a man to understand something, when his salary depends upon his not understanding it!” – Upton Sinclair

Upton Sinclair was describing willful ignorance based upon who butters your bread. The rampant corruption of our society, as power has been consolidated into fewer and fewer hands, has resulted in our political, financial, cultural and economic systems being captured by a billionaire class who use their wealth to dictate the path we are forced to follow – or lose everything.

The sociopath class include the Silicon Valley social media titans, the billionaires running the six mainstream media companies, the rogue billionaires like Soros and Bloomberg who fund chaos and foment insurrection, the Deep State surveillance agency operatives like Clapper, Brennan, Comey and Mueller doing the bidding of the oligarchy, Wall Street criminals like Dimon, Paulson, and Blankfein doing god’s work, and last but certainly not least – Powell, Yellen, Bernanke and slimy Kashkari priming the pump for the never ending systematic pillaging of the nation’s wealth.

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THEY WANT YOU TO DO AS THEY SAY, NOT AS THEY DO

“Facts are threatening to those invested in fraud.” ― DaShanne Stokes

Insiders at US companies unloaded $5.7 billion of their company stock this month, the highest in any September over the past decade, according to TrimTabs Investment Research. Insiders, which include corporate officers and directors, sold over $10 billion of their company stock in August, also at the fastest pace in 10 years. With the stock market at all time highs and valuations, based on all historically accurate measures, off the charts, it makes sense for knowledgeable insiders to sell high. Of course, if they were expecting the profits of their companies to soar because Trump says we have the best economy in history, why would they be selling?

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WHAT KEEPS THEM UP AT NIGHT

“Government has coddled, accepted, and ignored white collar crime for too long. It is time the nation woke up and realized that it’s not the armed robbers or drug dealers who cause the most economic harm, it’s the white collar criminals living in the most expensive homes who have the most impressive resumes who harm us the most. They steal our pensions, bankrupt our companies, and destroy thousands of jobs, ruining countless lives.” – Harry Markopolos, Madoff Whistleblower

The tenth anniversary of the Wall Street created financial catastrophe brought back some bittersweet memories this week. I wrote my first articles during the summer/fall of 2008 for Seeking Alpha. They included: Is The U.S Banking System Safe? (Aug 2008), The Great Consumer Crash of 2009 (Aug 2008), Looming Financial Catastrophe: A Real Inconvenient Truth (Aug 2008), Is Wachovia the Worst Run Bank in America (Sept 2008), The U.S. on the Precipice (Sept 2008), On Board the U.S.S. Titanic (Sept 2008), Our Coming Depression (Oct 2008), among others. I was pumping out 5,000 word articles every 2 or 3 days.

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WHAT THE HELL IS GOING ON? (PART THREE)

In Part One and Part Two of this article I revealed how the Deep State’s fake data and fake news propaganda machine can be overcome by opening your eyes, observing reality, understanding how Fed created inflation has destroyed our lives, and why the election of Trump was the initial deplorable pushback to Deep State evil.

“The notion that a radical is one who hates his country is naïve and usually idiotic. He is, more likely, one who likes his country more than the rest of us, and is thus more disturbed than the rest of us when he sees it debauched. He is not a bad citizen turning to crime; he is a good citizen driven to despair.” – H.L. Mencken

“This new regime will enthrone itself for the duration of the Crisis. Regardless of its ideology, that new leadership will assert public authority and demand private sacrifice. Regardless of its ideology, that new leadership will assert public authority and demand private sacrifice. Where leaders had once been inclined to alleviate societal pressures, they will now aggravate them to command the nation’s attention. The regeneracy will be solidly under way.” – The Fourth Turning – Strauss & Howe

We are now seven weeks into the Trump presidency and it seems like seven years with amount of incidents that have occurred before and since his inauguration. When in doubt, Trump’s brain dead, hyperventilating with hate, opponents either blame the Russians or declare him Hitler. The histrionics displayed by the low IQ hypocritical Hollywood elite, corrupt Democratic politicians, fake news liberal media and Soros paid left wing radical terrorists over the last two months has been disgraceful, revolting, childish, and dangerous.

Continue reading “WHAT THE HELL IS GOING ON? (PART THREE)”

How Bloomberg Spun its Own Poll Data to Make Hillary Clinton Seem Inevitable

Guest Post by Michael Krieger

2014 Time Magazine Cover

A couple of days ago, investigative journalist Sharyl Attkisson published a very interesting article which examined how Bloomberg News egregiously spun the results of its recent presidential poll.

She notes:

Is Hillary Clinton squashing Donald Trump into oblivion in the polls? Or is her lead over him perilously shrinking? One thing we know is: there are countless ways to spin a poll. Consider the case of selective reporting on the most recent Bloomberg national poll.

On Aug. 10, Bloomberg reported “Clinton up 6 on Trump in Two Way Race.” But looking at the actual poll, Trump has moved so close to Clinton, the results are within the margin of error.

In the most recent poll, the spread between Clinton and Trump in a two-person race was down to just 3 percentage points, Clinton at 45% and Trump at 42%. That’s within the margin of error. When Libertarian and Green Party candidates are put in the mix, it’s Clinton 42% and Trump 40% –again within the margin of error.

But this notable trend isn’t reflected in the Bloomberg write-up here. Instead, the reporter chose to use the poll numbers that look better for Clinton: ones that added in “leaners.” What are leaners? Respondents who were first asked who they’d vote for, then answered they didn’t plan to vote or didn’t know who they’d vote for, and then were pressed to pick a candidate they were leaning toward, anyway. This is how Bloomberg got to the 6-point spread cited in its headline…double the actual spread of 3%.

The graphic Bloomberg used in its news story appears somewhat misleading in this context. It depicts the 6-point spread as the result of the question “…for whom would you vote?” It doesn’t disclose that the graphic adds in “leaners” who were asked a followup question.

It’s simply another reminder that what you read in the news often comes through a filter.

So here’s the primary thing Sharyl is calling out in the above paragraphs.

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DOW IS LOWER THAN IT WAS IN DECEMBER 2013

You listen to the spokes bimbos on Bloomberg, the bubble headed bimbos on Fox, and the brain dead bimbos on CNBC, along with the various talking heads, pundits, shills and shysters every day on the corporate propaganda media. They regurgitate the false economic data distributed by the Orwellian government agencies to convince the the ignorant masses the economy is in recovery mode, jobs are plentiful, housing is booming, and the .1% aren’t really fleecing the muppets. They also blather about an ongoing bull market in stocks despite the FACT the Dow Jones is now lower than it was on December 27, 2013. Do bull markets go 20 months without advancing? Do you think Jim Cramer will mention this FACT today on CNBC?

DEPARTMENT STORE RESULTS IMPLODING

The government issued their monthly retail sales this past week and four of the biggest department store chains in the country announced their quarterly results. The year over year retail sales increase of 2.4% is pitifully low in an economy that is supposedly in its sixth year of economic growth with a reported unemployment rate of only 5.3%. If all of these jobs have been created, why aren’t retail sales booming?

The year to date numbers are even worse than the year over year numbers. With consumer spending accounting for 70% of our GDP and real inflation running north of 5%, it’s pretty clear most Americans are experiencing a recession, despite the propaganda data circulated by the government and Fed. The only people not experiencing a recession are corporate executives enriching themselves through stock buybacks, Wall Street bankers using free Fed Bucks while rigging the the markets in their favor, politicians and government bureaucrats reaping their bribes from billionaire oligarchs, and the media toadies who dispense the Deep State approved propaganda to keep the ignorant masses dazed, confused, and endlessly distracted by Cecil the Lion, Bruce/Caitlyn Jenner, Ferguson, and blood coming out of whatever.

You won’t hear CNBC, Bloomberg, the Wall Street Journal or any corporate mainstream media outlet reference the fact retail sales growth is at the exact same levels as when recession hit in 2008 and 2001. Their job is to regurgitate the message of economic recovery and confidence in the future, despite overwhelming evidence to the contrary.

Retail sales are actually far worse than the 2.4% reported number. Excluding the subprime debt fueled auto sales, retail sales only grew by 1.3% in the last year. The automakers are practically giving vehicles away as their lots are stuffed with inventory. The length of auto loans and the average amount of auto loans are now at all-time highs. The percentage of subprime auto loans is surging to record levels, as defaults begin to rise. The percentage of vehicles being leased is also at an all-time high. To call these “auto sales” strains credibility. These people are either perpetually renting their vehicles or just driving them until the repo man shows up.

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BREAKING BAD (DEBT) – EPISODE ONE

“At this juncture, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained.” – Fed chairman, Ben Bernanke, Congressional testimony, March, 2007

“Capitalism without financial failure is not capitalism at all, but a kind of socialism for the rich.” – James Grant, Grant’s Interest Rate Observer

The Federal Reserve issued their fourth quarter Report on Household Debt and Credit last week to the sounds of silence in the mainstream media. There were minor press releases issued by the “professional” financial journalists regurgitating the Federal Reserve’s storyline. Actual analysis, connecting the dots, describing how the massive issuance of student loan and auto loan debt has produced a fake economic recovery, and how the accelerating default rates in auto loans and student loans will produce the next subprime debt implosion, were nowhere to be seen on CNBC, Bloomberg, the WSJ, or any other status quo propaganda media outlet. Their job is not to analyze or seek truth. Their job is to keep their government patrons and Wall Street advertisers happy, while keeping the masses sedated, misinformed, and pliable.

Luckily, the government hasn’t gained complete control over the internet yet, so dozens of truth telling blogs have done a phenomenal job zeroing in on the surge in defaults. The data in the report tells a multitude of tales conflicting with the “official story” sold to the public. The austerity storyline, economic recovery storyline, housing recovery storyline, and strong auto market storyline are all revealed to be fraudulent by the data in the report. Total household debt grew by $117 billion in the fourth quarter and $306 billion for the all of 2014. Non-housing debt in the 4^th quarter of 2008, just as the last subprime debt created financial implosion began, was $2.71 trillion. After six years of supposed consumer austerity, total non-housing debt stands at a record $3.15 trillion. This is after hundreds of billions of the $2.71 trillion were written off and foisted upon the backs of taxpayers, by the Wall Street banks and their puppets at the Federal Reserve.

The corporate media talking heads cheer every increase in consumer debt as proof of economic recovery. In reality every increase in consumer debt is just another step towards another far worse economic breakdown. And the reason is simple. Real median household income is still below 1989 levels. The average American family hasn’t seen their income go up in 25 years. What they did see was their chains of debt get unbearably heavy. Non-housing consumer debt (credit card, auto, student loan, other) was $800 billion in 1989.

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The Head of the CDC Was Behind the Big Gulp Soda Ban In New York

Submitted by George Washington on 10/16/2014 08:38 -0400

“Hey Bloomberg, here’s a big gulp of…..FREEDOM” by Anthony Freda

Bloomberg the Nanny, by William Banzai

Libertarians were outraged by New York City Mayor Bloomberg’s “Big Gulp” ban (which a state court ultimately struck down). They slammed it as a “Nanny State” measure.

But it was current Centers for Disease Control head Tom Frieden who was actually behind the ban.

The New York Times reported in 2004:

Dr. Thomas R. Frieden, the city’s health commissioner,
has turned out to be an active policy advocate among the city’s
department heads, the outspoken architect of some of the Bloomberg
administration’s more controversial policies.

Although Mayor Michael R. Bloomberg is more closely associated with a
law that bans smoking citywide, the legislation was actually developed
by Dr. Frieden, who was also given responsibility for helping to push it
through the City Council.

***

Even Mayor Bloomberg’s partnership with Snapple to sell juice in vending machines in schools has not gone without his notice.

“I would have preferred water,” he admitted, although he added that he liked the money that the agreement will raise.

He is almost certainly the only city agency head who keeps a bowl of condoms in the reception area of his office.

And the Daily Caller reported in 2010:

In 2009, Frieden took to the pages of the New England Journal of
Medicine to sell the need for a soda tax. “It is difficult to imagine
producing behavior change of this magnitude through education alone,
even if government devoted massive resources to the task,” Frieden
wrote. “Only heftier taxes will significantly reduce consumption.”

In 2010, after Obama tapped Frieden to head up the Centers for
Disease Control, Bloomberg announced his support for a soda tax. “The
soda tax is a fix that just makes sense,” he said in a March 2010 radio
address. “It would save lives. It would cut rising health care costs.
And it would keep thousands of teachers and nurses where they belong: in
the classrooms and clinics.” Three years earlier, Bloomberg said he was
opposed to a soda tax.

MEANWHILE, WHILE WALL STREET PROFITS & BONUSES REACH ALL-TIME HIGHS….

WINNING!!!!

I thought Bloomberg was a man of the people. I guess just some people.

Explaining NYC’s Record Homelessness In One Disastrous Chart

Submitted by Tyler Durden on 06/07/2014 14:31 -0400

By any measure, New York City’s homelessness crisis broke every record during the final year of the Bloomberg administration. The already record-high homeless shelter population soared even higher, to more than 50,000 people per night. There are, of course, numerous reasons for this disastrous situation but we suspect the following chart, from the coalition of the homeless, may just be enough to wake up the average American to the reality of this ‘recovery’.

Over the past year, the average monthly number of homeless people sleeping each night in the New York City shelter system increased by 7 percent, from 50,135 people in January 2013 to 53,615 people in January 2014 – the highest level ever recorded.

The following are the tragic benchmarks of the past year in New York City:

The average number of homeless children living in municipal shelters increased by 8 percent over the prior year, reaching an all-time-high 22,712 children in January 2014.
The average number of homeless families in shelters increased by 6 percent over the past year, reaching a record-high 12,724 families in January 2014.
The average number of homeless single adults sleeping each night in the New York City shelter system rose five percent to 11,342 women and men in January 2014, a new record.
Average shelter stays for homeless families with children rose by two months (60 days), or 16 percent, during the past year. The average shelter stay for homeless families with kids reached a record-high 14.5 months (435 days) in January 2014.
The average shelter stay for homeless families without children rose to more than 17 months (518 days), the longest ever recorded. Average shelter stays for childless families in emergency shelter rose by more than a month (34 days), or 7 percent, during the past year.
The number of newly homeless families entering the shelter system, 13,465 families in FY 2013, was 12 percent higher than the previous City fiscal year.
More New Yorkers sought emergency shelter: A remarkable 111,210 different men, women and children slept in the shelter system during FY 2013, a five percent increase over the previous City fiscal year.
More children slept in NYC’s municipal shelter system: During FY 2013, City data show 40,189 different girls and boys lived in homeless shelters, a 7 percent increase from the previous City fiscal year.

And this is among the most critical reason why…