Abby Martin speaks with Rolling Stone journalist, Matt Taibbi, about a JP Morgan Chase whistleblower that has come forward to expose how the company knowingly sold toxic mortgages to investors and how the Justice Department used her as a pawn in its settlement negotiations with the financial giant.
Posted on November 20, 2014 by Charles Hugh Smith
We in the center that cannot hold can only watch as things fall apart.
In so many ways, the falcon can no longer hear the falconer. The phrase is drawn from William Butler Yeats’ poem, The Second Coming:
Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.
The falcon can no longer hear the falconer describes our disintegrating era well.
The politicos can no longer hear the people they supposedly serve.
Concentrated wealth no longer heeds any falconer; it is free to exploit its power in the market and the halls of government.
Unconstrained by an inner falconer of integrity, many seek to game the system to maximize their private gain by any means available.
Market manipulators, equally unconstrained, ceaselessly rig markets for their private gain and the benefit of their cronies.
The circular gyres have been widening for years, and the commands of the public, of common sense, of personal integrity and of a transparent, open market grow fainter and fainter.
The notion that the falconer should be heeded has been lost. There are no limits on greed, power, exploitation, fraud, misrepresentation, manipulation of markets or the issuance of lies to further a con, pass legislation or boost the value of a security.
As Yeats observed, we live in an era of faked sincerity and threadbare melodramas played for public consumption: those apologizing for their lies lack all conviction, while those seeking to rouse a partisan mob are full of phony passion.
Disillusioned with the pillaging and predation of our supposed leaders who have circled away from all constraint, we in the center that cannot hold can only watch things fall apart as the orderly universe operated by the few at the expense of the many dissolves (in Aldous Huxley’s phrase) into a world of planless incoherence.
by MICHAEL SNYDER | ECONOMIC COLLAPSE | NOVEMBER 19, 2014
Are you waiting for the next major wave of the global economic collapse to strike? Well, you might want to start paying attention again. Three of the ten largest economies on the planet have already fallen into recession, and there are very serious warning signs coming from several other global economic powerhouses. Things are already so bad that British Prime Minister David Cameron is comparing the current state of affairs to the horrific financial crisis of 2008. In an article for the Guardian that was covered on Monday, he delivered the following sobering warning: “Six years on from the financial crash that brought the world to its knees, red warning lights are once again flashing on the dashboard of the global economy.” For the leader of the nation with the 6th largest economy in the world to make such a statement is more than a little bit concerning.
So why is Cameron freaking out?
Well, just consider what is going on in Japan. The economy of Japan is the 3rd largest on the entire planet, and it is a total basket case at this point. Many believe that the Japanese will be on the leading edge of the next great global economic crisis, and that is why it is so alarming that Japan has just dipped into recession again for the fourth time in six years…
Japan’s economy unexpectedly fell into recession in the third quarter, a painful slump that called into question efforts by Prime Minister Shinzo Abe to pull the country out of nearly two decades of deflation.
The second consecutive quarterly decline in gross domestic product could upend Japan’s political landscape. Mr. Abe is considering dissolving Parliament and calling fresh elections, people close to him say, and Monday’s economic report is seen as critical to his decision, which is widely expected to come this week.
Of course Japan is far from alone.
Brazil has the 7th largest economy on the globe, and it has already been in recession for quite a few months.
And the problems that the national oil company is currently experiencing certainly are not helping matters…
In the past five days, 23 powerful Brazilians have been arrested, with even more warrants still outstanding.
The country’s stock market has become a whipsaw, and its currency, the real, has hit a nine-year low.
All of this is due to a far-reaching corruption scandal at one massive company, Petrobras.
In the last month the company’s stock has fallen by 35%.
18 Nov, 2014 by Dave Hodges
Part One of this series dealt with the fact that the G20 has declared that your “money” in the bank, is not “money” anymore and is subject to not being covered by the FDIC as it was in the past.
Part Two discussed how the theft of your bank account will occur incrementally in order to avoid a violent backlash from the public.
The third part of the series will discuss how the globalists will not stop with the theft of your bank accounts and will quickly include your retirement accounts, your homes and ultimately the globalists will seek to control your one remaining asset, your personal labor.
Enter the Secretary of Treasury, Jack Lew, An Economic Hitman
Attention Federal Employees: This is man is stealing from you as you read these words.
Attention Federal Employees: This is man is stealing from you as you read these words.
Congress is back in session and what are they talking about? One of the topics is raising the debt ceiling. The Treasury Department once again is taking federal retirement programs to buy the government more time to increase the nation’s debt ceiling. And why does the government need to raise the debt ceiling? The debt ceiling must be raised for two reasons, (1) in order to fund the banker-inspired wars of occupation and, (2) to continue to fund the largest wealth transfer in history, the bailouts. And just who is behind this nonsense? The Banksters from Basel are pulling the strings and Goldman Sachs is executing the plan. Also, the very close friends of Goldman Sachs over at Citigroup now have their henchman in charge of the continuing rape of America’s resources by Wall Street and he is Treasury Secretary Jack Lew.
17 Nov, 2014 by Dave Hodges
garage sale before they collapse the economy and roll out martial law. There are forces lining up to steal everything that you and I own. It has already begun but this country is so dumbed down, we do not see that it has already started.
The Bankers Have Committed a Coup Against the United States Government
The United States government is not your main enemy, it is the banksters who have hijacked your government. Some of the sheep might be wondering when that happened. The year was 2008 and the event was called a bail-out. This evil was born in 1913 with the creation of the Federal Reserve. This pervasive evil killed America when the first dollar arrived at the door of Goldman Sachs in the form of a bail-out in 2008. Bye-Bye Miss American Pie, that was the day the music died for America.
Yesterday, on November 16, 2014, it was revealed that when you awakened, a new G20 policy was enacted which effectively stole your bank account. For the time being, you still have some access to some of your money. If you have $100,000 in the bank, try taking that money out caf stealing from the innocenttoday and see how fast the Federal authorities show up in your life. And if you did manage to get your money out of the bank, don’t forget about the cop on the corner poised to steal your money under the banner of “civilian asset forfeiture”. Pardon me, I digress.
Yesterday’s article revealed that your money, that is in your bank account, is no longer called money. As a result, when the banks begin to fail, one by one, you will not be at the head of the line to collect your reimbursement from the FDIC, you will be last in line because you have no “money” in the bank. This effectively means that you will get nothing for your lost and subsequently confiscated bank account. However, your bank account will not be the only casualty from your financial portfolio. The banksters are preparing to steal EVERYTHING that is not nailed down and this GRAND THEFT AMERICA will begin with your bank account and will quickly take every other financial asset.
Undoubtedly, the trigger for this approaching calamity will be a series of major bank failures. Some of the sheep will say, “there will be no bank failures, will there”?
Submitted by Tyler Durden on 11/13/2014
When it comes to the fair value of assets, especially cash-flow generating real estate, few are as qualified to opine as the man dubbed “World’s Richest Restaurateur”, billionaire Tilman Fertitta, chairman of Landry’s Restaurants which counts among its properties such brand names as Morton’s, Rainforest Cafe, Bubba Gump Shrimp Co., McCormick & Schmick’s, Saltgrass Steak House, Claim Jumper, Chart House, The Oceanaire, Mastro’s Restaurants, Vic & Anthony’s Steakhouse and many more.
Which is why his dire warning about the state of the “crazy” US real estate market, which he believes set for an imminent crash, are likely worth keeping in mind as all the panglossian permabulls see nothing but a 4th dead housing cat rebound ahead. That, and his take on inflation: “There is huge inflation going on right now.”
From his interview on Bloomberg TV yesterday:
Fertitta: You are seeing crazy numbers from real estate. You are seeing it New York probably more than anywhere else; you are seeing it in Texas; you are seeing it in California. History always repeats itself, but I think it’s going to repeat a little sooner this time. You see it coming.
Q. You smell a crash in the real estate market?
Fertitta: Absolutely I do. I can see it in Houston right now.
Q. It’s going to be 1986 all over again?
Fertitta: Absolutely. It didn’t come back in Texas until 1996, it took 10 years for it to happen in Texas.
For all those who see nothing but blue skies from falling crude prices, here is Fertitta’s contrarian view: “Oil needs to hit $50/barrell for it to cause a total crash.”
Finally, for the deflation truthers, here is what Fertitta had to say about inflation:
Ben Bernanke was at Rich Handler’s house and he says “there’ no inflation.” Well go buy something, whether at the grocery store, the drug store, the broom and mop store, and there is inflation everywhere. I have so many types of businesses so I buy everything from labor, to mops, to food, to shrimp, to stake and everything is more expensive. We are raising prices: that’s why right now you pay more for an airline ticket, you pay more for a hotel room, you pay more for a pot of coffee. There is huge inflation going on right now.
Somehow we doubt he will appear on CNBC any time soon.
Wednesday, 12 November 2014 Brandon Smith
Throughout history, in most cases of economic collapse the societies in question believed they were financially invincible just before their disastrous fall. Rarely does anyone see the edge of the cliff or even the bottom of the abyss before it has swallowed a nation whole. This lack of foresight, however, is not entirely the fault of the public. It is, rather, a consequence caused by the manipulation of the fundamental information available to the public by governments and social gatekeepers.
In the years leading up to the Great Depression, numerous mainstream “experts” and politicians were quick to discount the idea of economic collapse, and most people were more than ready to believe them. Equities markets were, of course, the primary tool used to falsely elicit popular optimism. When markets rose, even in spite of other very negative fiscal indicators, the masses were satisfied. In this way, stock markets have become a kind of dopamine switch financial elites can push at any given time to juice the citizenry and distract them from the greater perils of their economic future. During every upswing of stocks, the elites argued that the “corner had been turned,” when in reality the crisis had just begun. Nothing has changed since the crash of 1929. Just look at some of these quotes and decide if the rhetoric sounds familiar today:
John Maynard Keynes in 1927: “We will not have any more crashes in our time.”
H.H. Simmons, president of the New York Stock Exchange, Jan. 12, 1928: “I cannot help but raise a dissenting voice to statements that we are living in a fool’s paradise, and that prosperity in this country must necessarily diminish and recede in the near future.”
Irving Fisher, leading U.S. economist, The New York Times, Sept. 5, 1929: “There may be a recession in stock prices, but not anything in the nature of a crash.” And on 17, 1929: “Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.”
W. McNeel, market analyst, as quoted in the New York Herald Tribune, Oct. 30, 1929: “This is the time to buy stocks. This is the time to recall the words of the late J. P. Morgan… that any man who is bearish on America will go broke. Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years.”
Harvard Economic Society, Nov. 10, 1929: “… a serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall.”
I hear nearly identical statements from pro-mainstream, pro-dollar skeptics all the time. And all of their assertions rest solely on the illusion of the Dow and the dollar index, not to mention statistics that are sourced from the very government that has much to gain by fooling the public into believing all is well.