Stacy Summary: Fortunately, there is no economic cost to this.
— CoinDesk (@coindesk) July 30, 2014
… Risk Entirely… but above all else, protect the hedge funders because they own the battleships.
Paul Singer, CEO of $24+ billion Elliott Management explains:
“It (electromagnetic pulse) can be artificial, produced by a high-altitude (at least 15 miles) explosion of relatively low-yield (even Hiroshima-strength) nuclear weapons.”
“Liam Lonergan’s plan to write what I think is probably a ‘contemporary existentialist’ novella/piece of reportage about comedian Lewis Schaffer… Stranger things have happened. Though not much stranger.”- Read my latest daily blog in full here
Stacy Summary: Interesting. Found this via Twitter. Don’t know where it was recorded or if English subtitles are correct (anyone speak Ukrainian?). Anyway, as always, it seems the ordinary citizen does not want the wars the elite fight.
Bill Curry’s article published this past Sunday by Salon is simply extraordinary. One of the things I’ve felt has been lacking in America for some time is the ability for well-meaning people within the “power structure” to look inward and be honest with themselves about the immoral decay fellow members of their socio-economic class have wrought upon the nation via a singleminded pursuit of wealth and power. A perfect example of an ignorant, destructive oligarch completely devoid of self-awareness was put on full display earlier this year when Sam Zell appeared on Bloomberg TV and essentially said the poor just need to act more like the rich.
Read more here.
If Bitcoin is the future, then Florincoin is the future 2.0. Haven’t heard of it yet? Florincoin (or FLO) is an electronic currency that was released on June of 2013 by Skyangel, a member of the bitcointalk.org forum community. Some of the new coin’s features are 40 second block generation times, and ….
We discuss the nouns, like ‘the poor,’ who want to be known as verbs, like ‘can’t make ends meet,’ and the thieving verbs (i.e., ‘defrauding investors,’ ‘manipulating markets’) who want to be called nouns, like ‘wealth creator.’ In the second half, Max interviews Liam Halligan about his recent Spectator cover story, “The Next Crash: We could be on the brink of another financial crisis.” They look at derivatives, leverage, GDP and more.
Before you buy another ticket for the Bull market bandwagon of “don’t fight the Fed,” perhaps you should take a look at the quality of the debt the Fed has enabled and the diminishing returns on all that debt.
The mainstream media is delighted to highlight positive economic data, but nobody ever asks about the quality of the borrowers who are behind the rosy numbers. Behind the rosy numbers, sales and profits are increasingly dependent on marginal buyers and borrowers: those buying on credit who would not qualify to borrow money in a system ruled by prudent risk-management.
These marginal borrower/buyers are last on, first off: they qualify for loans at the end of a credit expansion, when lenders throw caution to the winds to reap the profits from issuing new mortgages, auto loans, student loans, credit cards, etc. to marginal borrowers.
These marginal borrowers are the first to default, because they have insufficient income and collateral to support their loans.
This rising dependence on marginal borrowers/buyers leads to an economy of diminishing returns: ever-rising rates of debt expansion are required to generate ever-declining rates of expansion of sales, profits, GDP, etc.