Category: Economy

Process Conservatism

Guest Post by The Zman

If you were to bring forward to our age the cultural and political sensibilities of the founding generation and create a political movement around them, you would find yourself in very serious trouble. The reason is you would be so radical in your aims that even the most enthusiastic of constitutional conservatives would denounce you. The reason for this, is that everything about current year America is at odds with what the men, who drafted the Constitution, intended for the country they created.

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THIS DAY IN HISTORY – The Ramones play their first public gig at CBGB in downtown Manhattan – 1974

Via History.com

Five years to the day after half a million rain-soaked hippies grooved and swayed to the psychedelic sounds of the Grateful Dead at Woodstock, four young men from Forest Hills, Queens, took to the stage of an East Village dive bar in jeans, motorcycle jackets and Converse high-tops to launch a two-minute sonic attack on everything those 60s icons stood for. The date was August 16, 1974, the bar was CBGB and the band was the Ramones, giving their debut public performance. The rapidly shouted words with which they opened that show and launched the punk-rock revolution were, as they would always be, “One! Two! Three! Four!”

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QUOTES OF THE DAY

“He who does not shout the truth when he knows it makes himself the accomplice of liars and forgers.”

Charles Péguy

“Don’t let education interfere with your learning.”

Mark Twain

“Think of the press as a great keyboard on which the government can play.”

Joseph Goebbels

“Men in authority will always think that criticism of their policies is dangerous. They will always equate their policies with patriotism, and find criticism subversive.”

Henry Steele Commager

Markopolos: GE Is “Bankruptcy Waiting To Happen”

Via ZeroHedge

As Harry Markopolos readily admits, GE has reportedly been playing fast and loose with its revenues for decades, which is why thousands of analysts were shocked to see the dogged Madoff whistleblower publish a report Thursday morning warning about ‘Accounting Irregularities’ at the once-mighty industrial conglomerate, which amounted to almost $40 billion.

Markopolos continued that the fraud growing inside GE was “bigger than Enron and Worldcom combined” (which is difficult to imagine given GE’s relatively puny market cap), and that most of the dirt could be found within its insurance unit, which will need to bolster its reserves by $18.5 billion in cash, and faulted the way the company is accounting for its oil-and-gas business. All told, he said, the accounting problems amount to $38 billion, or 40% of the conglomerate’s market value.

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Inverted Yield Curve Signals Coming Recession

Guest Post by Bill Bonner

POITOU, FRANCE – Is our Crash Alert flag still flying? We hope so. It’s been up the pole for so long, waiting patiently for the stock market to fall, we’d hate to miss it when it finally happens.

Stocks sold off yesterday, after the 30-year Treasury bond hit a record high and the yield curve well and truly inverted. The Dow ended the day 800 points lower, with the Dow-to-Gold ratio sinking below 17.

The index measures the fundamental inclination of the economy, by comparing gold to stock prices.

When the economy is healthy and growing, people buy stocks and the index generally goes up. When it is fearful and correcting its mistakes, they buy gold and the index goes down.

It now takes 16.8 ounces of gold to buy the Dow stocks… down from 40 in 1999 and 22 in 2018. Our guess is that it will continue going down until you can buy the Dow stocks for less than 5 ounces of gold.

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Report: King George Really Regretted Not Imposing Red Flag Laws On Deranged American Colonists

Via The Babylon Bee

LONDON—Historians now believe that King George III “instantly and severely” regretted not implementing red flag laws on the deranged American colonists.

“Blast it all, why didn’t I think of that?” the king had said to a friend later on, according to new sources. “We could have just said guys like that ungrateful George Washington and that Jefferson fellow were mentally unstable and grabbed all their guns.”

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Scaramucci: ‘Trump Will Drop Out 2020 Presidential Race’

Guest Post by Sara Carter

“I believe that will happen and, as a result of that, he will drop out of the race. … I do think he’s now a threat to the Republic in terms of the way he’s acting, the bullying, the nonsensical racist tweets, it’s just bizarre. And obviously, he’s doing a number on the economy now. You’ll see, the business community will turn and hopefully the courageous politicians will turn and admit the truth,” Anthony Scaramucci said in an interview with Fox News Radio.

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I’m a Superstitious Man

Guest Post by Ben Hunt

I’m a superstitious man, and if some unlucky accident should befall him — if he should get shot in the head by a police officer, or if he should hang himself in his jail cell, or if he’s struck by a bolt of lightning — then I’m going to blame some of the people in this room.

Vito Corleone, “The Godfather” (1972)

Same.

Vito Corleone was speaking of his son, Michael, and these were some of the people he intended to blame for an “unlucky accident”.

I’m speaking of a monster, Jeffrey Epstein, and these are some of the people I intend to blame for this “unlucky accident”.

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Another AGW Pummels Another Handcuffed Victim

Guest Post by Eric Peters

Another video has surfaced of another armed government worker punching out a victim – a woman – with her hands literally tied (manacled) behind her back.

The incident took place in St. Albans, Vermont.

The woman, who had been arrested for something or other, can be seen in the video below sitting in a jail cell, her hands cuffed behind her. She is upset and kicks at the door to her cell. This infuriates the AGW, who decides to tune her up for being disrespectful of his Authority.

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The Spin Cycle: Race Hate, Rinse, Repeat

Hat tip Mary Christine

Via American Digest

I try to avoid the summer news because I dislike being spun up by it on a daily/ hourly/ minute-by-minute basis. I don’t need to have my darker emotions fondled by the Left and their ceaseless propaganda organs. Case in point this August, Race Hate.

From CNN and MSNBC to The New York Times and the Washington Post and all their fellow travelers this summer’s fetid blather all has to do with a very simple notion: “Let’s just threaten to kill whitey every chance we get and see if we can’t get some real city slaughterfests going.”

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Crisis Ahead

Guest Post by Martin Armstrong

The world is in a complete midlife crisis or some may say an end of life crisis. I am overseas as the world is simply going nuts. At times, I feel more like a shrink having to reassure people that it will all be OK. Both Europe and Asia are having a very bad string of days.

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The White Fright

Guest Post by The Zman

One of the features of current year America is the occurrence of panics, particularly among the managerial elite. The most recent is the White Fright, where the media is hysterically reporting every disturbance as the act of white supremacists. This panic appears to have been triggered by the El Paso shooting, but it is a manifestation of a much longer occurring paranoia among the managerial classes. It dates back to at least the last presidential election and has roots in the Obama years.

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