We’ve reached a point where commentators and pundits on Fox Business and CNBC are actually admitting that there may in fact be a bubble in assets.
I’ve been watching these interviews and exchanges since 2010 or so and it’s like a replay of the interviews in 2005-2007 where Peter Schiff was calling it exactly how it would play out.
It’s like they always think that the Fed has defeated the business cycle for good and that asset prices (be it housing or stocks) will never ever come down. How can there NOT be a bubble right now!?
People need to realize that the recession is necessary for economic growth. The economy has to restructure and get rid of all the malinvestments spurred on by cheap money policies from the Fed. Schiff says this here and the interviewer says “But you’re not telling me what the Fed should do.” He just did! The recession is going to suck for some time but the more we kick it down the road the more things are going to suck. By ignoring the correcting process that is the recession we only compound our problems.
The problem is not the recession it’s the boom. The boom is where the bad decisions are made as a result of faulty signals in the form of artificially low interest rates and moral hazard brought on by Congress and its bailouts. This is not how a functioning free market would operate. This is a distorted Frankenstein economy engineered to boost the bottom lines of the upperclass who have all their wealth tied up in the stock market. Meanwhile the cost of living rises while real wages remain stagnant for the rest of us.
End the fucking Fed already.
As the American government is contemplating on whether or not to launch an airstrike on ISIS that is threatening to destroy Iraq, reports have now surfaced that way back in 2012, the US Army had trained members of the same terrorist group in Jordan.
As per several corroborated reports, hundreds of ISIS militia were indeed trained by US instructors for covert operations to destabilize Syrian President Bashar al-Assad’s government, though the training was strictly for Syria.
Back in February 2012, WND had reported that the US, with the help of Turkey and Jordan, was running a training base for Syrian rebels in the Jordan. German weekly Der Spiegel also confirmed in 2013 that the US was still training Syrian rebels in Jordan.
The report noted that the organizers of the training wore US Marine uniforms, and the training focused on the use of anti-tank weaponry. The ISIS terrorists, who now hold almost the entire north of Iraq, have quite effectively neutralized most Iraqi tank battalions put against the invading forces.
ISIS, also known as ISIL, has let loose a reign of terror both in Syria and Iraq. The group has been denounced even by Al-Qaeda for its brutality and violence.
A USA-ISIS tie-up is plausible, considering the fact how the CIA was responsible for the strengthening of Al-Qaeda in Afghanistan. It is widely reported that during the anti-Soviet war, Osama Bin Laden and his fighters received American and Saudi funding. Defence analysts strongly believe that Bin Laden himself had received security training from the CIA.
The US, which is closely monitoring the situation in Iraq, is reportedly flying F-18 surveillance missions in the country from an aircraft carrier in the Persian Gulf, officials confirmed to Fox News.
The F-18 surveillance missions are being launched from the USS George HW Bush. While the Obama administration is yet to decide on airstrikes, the US government has authorized “manned and unmanned” surveillance flights for collecting information.
DOJ accelerates hunt for domestic terrorists
"Holder also noted that the task force will focus on individuals within our borders motivated by antigovernment sentiments…"
I wonder if these antigovernment extremists will be afforded any semblance of due process of law considering they’ll be the target of domestic counterterrorism efforts.
Love “your” government, or else.
The Palestinian Museum, due to open in mid-2015, hung banners in Bethlehem’s Manger Square for their “In The Presence of the Holy See” exhibition, focusing on Catholic imagery contrasted with Palestinian suffering. Thousands of Palestinian Christians greeted Pope Francis at the Square where he held an open air mass on Sunday 25 May 2014. (Click images for captions.)
More on the Pope’s visit to Palestine here.
When news outlets and social media share photos of tearful mothers, fathers, wives, and children mourning their lost loved ones, my heart breaks at the senseless death and unnecessary sorrow. The state claimed a life, and then marked its claim by adorning the casket in its symbolism. And too few people earnestly ask why.
You’re told to remember “sacrifices” today. That certain people “died for your freedom.”
You’re told to “honor your country” today. That its government is an extension of the people’s will by way of the consent of the governed.
What you should remember today are the millions of lives and countless liberties lost at the whim and behest of the state.
You owe the state and its minions the same a victim owes his attacker: animosity and contempt. Freedom is free. Anyone who says otherwise is only preaching subservience and acquiescence. As I said on Veterans’ Day: “we should not be wiled by trite propaganda into supporting militarism under the guise of requisite defense of freedom.”
You should no more be grateful to the metastatic state than you should be grateful to metastatic cancer. Anything good the state ever does can always be done without the state’s monopoly on force (and, without its inherently lumbering and corrupt bureaucracy, in a more just and efficient manner). There is no such thing as a necessary evil as evil can never be a prerequisite for good.
Ultimately, the state is unnecessary, and its democratic pretenses purporting its validity are illegitimate.
Those blinded by uncritical “patriotism” will no doubt find these truths “disrespectful,” but to echo previous remarks from last Memorial Day: “The most respectful way to honor fallen troops is to not continue sending more troops to die in unprovoked and unnecessary wars.”
We can not properly memorialize the very real human beings who have died very real deaths - the very real losses of countless families - by celebrating needless war, promoting wanton destruction, and glorifying the very state that made those tragic losses possible. People who truly follow a desire to protect others, and are even willing to surrender their own lives for the well-being of not just their loved ones but complete strangers, certainly possess qualities that should be admired. But let’s not allow the genuinely honorable idealism that permeates many of those when they enlist - to protect their fellow man, to honor the principles of individual liberty codified in the constitution, to stamp out evil in the world - to cloud the sad reality of what those soldiers, sailors, airmen, and marines eventually become: tools for the political and economic whims of politicians, bureaucrats, despots, overlords, oppressors, and their cronies. The worst thing one can do for a fallen soldier is to dehumanize and transmogrify him into a symbol for the exaltation of the state.
The state is not you. Unless you’re a politician, plutocrat, or connected crony, it doesn’t serve you except whatever minimum is required to buy your quiet compliance. As I’ve said previously, “The state and its symbols are not synonymous with society. Nor are they representative of you or any other individual in particular. When your identity is intermixed with your government and your patriotism becomes sacerdotal reverence, you become a mindless minion of the state to be manipulated into agreeing to whatever loss of liberty best suits your
“Be a good neighbor to your fellow man, not a doting subject to the state."
On Memorial Day, you’re supposed to “remember the men and women who died while serving in the United States Armed Forces.” By all means, remember them - and reflect on how most of them had their lives unnecessarily and prematurely extinguished for and by the state. Grieve for their families who not only lost loved ones in a likely pointless endeavor but were fed lies as to the true reason for their loss. Ponder what little value those in power, contrary to their empty platitudes, place on the lives of even the most noble member of the military. Consider how many more youths, riled by the pomp and pageantry of such memorializations, will naively follow the same ruinous paths as those who are remembered today.
Mark this day as one to contemplate the state’s tragic acts on its own people, and how it masks its atrocities with the rhetorical drapes of “honor,” “sacrifice,” “bravery,” “heroism,” and - when ugly truths arise - “just following orders.” Let this day be one of shame for those in power who send our neighbors, friends, and family members to die for their own selfish causes, and let it be a day of shame for the fooled and compliant masses who support, obey, agitate, glorify, conspire with, and cover for the state.
And if you feel inclined to hoist a flag today, make it a black one.
The modern “liberal,” the reactionary in disguise, suspects every businessman of an intent to bilk him. On the other hand, he trusts every bureaucrat and trade union officer to look out for his interest. I, on the contrary, suspect everybody of looking out for his own interests, be he businessman, bureaucrat, union officer, consumer, Congressman, workman, or the ordinary citizen. I am somewhat willing to trust a businessman to serve me well since any attempt to bilk his customers will mean that he will lose business to competitors. This, at least, means that it is to his self-interest to serve me well.
The average politician I trust a great deal less since he is quite willing to serve my interest badly if the support he gains at my expense is crucial to his election. Besides, he can confuse the issue by offering a few items in his platform which have some appeal to offset the other things which are distasteful. In every election, I have had to choose either the grab bag of proposals offered by one party, 95 per cent of which are distasteful, or the grab bag offered by the other party, 97 per cent of which are distasteful. That is hardly a choice. At least, when I buy a General Motors automobile, I do not have to buy GM gasoline, GM schools for my children, GM garbage collection service, GM old age annuities, or GM anything else. In a free market, I can separate my decisions on what automobile I buy from my choice of what gasoline I consume, which service station I patronize, which mechanic I go to for repairs, or which company insures my car or administers the funds I save for my retirement income.