Debt, Deficits & Housing – The Smoke & Mirrors “Recovery”

Banana Republic

Many among the status quo have defended the last 8 years as a productive “recovery” from the abyss of financial armageddon unleashed by our criminal banking sector. The efficacy of the recovery depends on the person responding to the question. For the vast majority of the U.S. population, there has been no recovery, but instead a steady decline. If you … Read More

Leaked Audit Of Mortgage Documents In Seattle Shows MERS Still Skirting Property Laws

A leaked audit in Seattle WA has revealed that real property assignments during the first half of 2013 did not comply with state law. The detailed report commissioned by the Seattle City Council is one of the latest forensic examinations of real estate property records to uncover discrepancies and deficiencies in the sham/shell known as MERS, otherwise known as Mortgage … Read More

It Takes A Pillage – FOMC Brings No Change On Rates, Q1 GDP Prints At 0.2 Percent

The Atlanta Fed’s GDPNow¬†forecast of 0.2 percent was right on track. Today the Bureau of Economic Analysis reported first quarter GDP growth in the US of…0.2 percent. Yeah us! At least the Q1 GDP numbers were better than the readings on Texas manufacturing in April. As expected, the Federal Reserve did absolutely nothing at the latest FOMC meeting today. The … Read More

The Difference Between Teachers And Wall Street Bankers

I’m going to miss Jon Stewart, the comedic genius reporting news disguised as comedy at the Daily Show. When he leaves the program later this summer, all we’ll have left to cover the daily news is well…evening newscasts. I guess that means we’ll be left to sort things out for ourselves. Considering some of the largest crimes in human history, … Read More

Lacy Hunt: Excessive Public And Private Debt Will Curtail Growth

Interesting discussion with Lacy Hunt from Hoisington Investment Management. Hunt explains the problem of weak growth resulting from excessive debt, both public and private, and the consequences of long-term growth. Hunt seems to understand better than most that we have been pulling demand forward at the expense of future growth. Negative yields are sprouting up all over Europe. Unfortunately it … Read More

Falling Oil, Vanishing Jobs & The Counterfeit Recovery

This week the EIA noted yet another inventory build for crude oil stocks. We found out that retail sales fell for the third consecutive month. US Producer Price Index final demand actually fell 0.6 percent year-over-year. To top it all off the US rig count fell yet again, shedding another 67 rigs. Another 56 oil rigs were idled in the … Read More

FHA Wants To Boost Lending, Trash Underwriting Standards

“Our major export is fraud, and everything else is a function of the perception management service sector”. Jesse Just when you think the policymakers in DC can’t stoop any lower, they deliver gems like this. It appears the FHA wants to boost lending in the U.S. by trashing underwriting standards for loans. You know, because we didn’t do a good … Read More

Warren Rips Cromnibus Bill For Citigroup Ties And Bailout Provision

You can file this one in the “Best Government Money Can Buy” category. The most recent budge bill floated to keep the greatest show on earth intact (at least in terms of appearances of course), contained a rather sneaky provision to bailout Wall Street once again should things go astray. Elizabeth Warren seems to be one of the few representatives … Read More