Socio-Economics History Blog

Socio-Economics & History Commentary

Karl Denninger: Only Way Out is Stop Lawlessness Top to Bottom

  • Karl Denninger: Only Way Out is Stop Lawlessness Top to Bottom. America is Doomed Without Restoring the Rule of Law
    by Greg Hunter’s USAWatchdog.com 
    Trader and entrepreneur Karl Denninger has a dire warning. He basically says if there is lawlessness at the top of society, there will be lawlessness at the bottom.  Denninger, who is so distraught he has suspended writing on his popular website, explains, “It is illegal for any entity with market power or anybody else to price fix.  It is illegal to price commodities of like, mind and quantity in the market place.  That is a federal law, and violations of these laws are not civil affairs, they’re felonies. . . . The only deterrents for corporations against bad behavior is people go to jail or the firm has its charter revoked because it runs out of money.  The reason that is the case is as long as I can pay a fine and shift the cost onto the customers or shareholders or both, there is not deterrent—at all. . . . When does a CEO ever get indicted?  When do members of the board ever get indicted?  The answer is never.”

    Denninger says the lawlessness trickles down, and it’s bad for growth and innovation that creates jobs. Denninger contends, “The problem with this is economic progress.  Without people having the ability and the promise to get ahead, what do you have left? . . . If this sinks into people’s consciousness, then the game is over.  If you cannot entice people to get out there and create the next big thing, to be the next Intel, to be the next Amazon, then everybody swallows everybody until there is nothing left.  If you are all sharks trying to eat each other, then there is no progress.”

    Denninger also makes a dire prediction about a coming future crash. Denninger says, “All exponential growth forecasts that do not have an end date on them run up against mathematical facts. . . . You can’t have infinite expansion forever. 

    read more.

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August 2, 2016 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment

Italian Banks Crash Despite ‘All Clear’ From EU Stress Tests

Bank_Panic_in_Italy

  • Italian Banks Crash Despite ‘All Clear’ From EU Stress Tests
    by Tyler Durden, http://www.zerohedge.com 
    For a few minutes at the open, mainstream business media persuaded itself that the EU stress tests had proved that everything was fine in Europe’s banking system again. But very quickly, things went south with Italian banks – the center of the storm – reversing gains and then extending losses with Unicredit now down 8% (after being up 4%).

    As Citi’s Christian Schulz notes, “The 2016 stress test is unlikely to fully restore investors’ trust in the eurozone banking system, in our view.” And it seems he is right… 

    read more.
Monte Paschi is holding gains amid its massively dilutive capital raise, but this is noise across the stock's bid-offer.

Monte Paschi is holding gains amid its massively dilutive capital raise, but this is noise across the stock’s bid-offer.

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August 2, 2016 Posted by | Economics | , , , , , , | Leave a comment

‘Sell Everything’ DoubleLine’s Gundlach Says!

  • ‘Sell Everything’ DoubleLine’s Gundlach Says!
    by Reuters, via http://www.cnbc.com/ 
    Jeffrey Gundlach, the chief executive of DoubleLine Capital, said on Friday that many asset classes look frothy and his firm continues to hold gold, a traditional safe-haven, along with gold miner stocks.

    Noting the recent run-up in the benchmark Standard & Poor’s 500 index while economic growth remains weak and corporate earnings are stagnant, Gundlach said stock investors have entered a world of uber complacency.

    The S&P 500 on Friday touched an all-time high of 2,177.09, while the government reported that U.S. gross domestic product in the second quarter grew at a meager 1.2 percent rate.

    “The artist Christopher Wool has a word painting, ‘Sell the house, sell the car, sell the kids.’ That’s exactly how I feel sell everything. Nothing here looks good,” Gundlach said in a telephone interview. “The stock markets should be down massively but investors seem to have been hypnotized that nothing can go wrong.”

    Gundlach, who oversees more than $100 billion at Los Angeles-based DoubleLine, said the firm went “maximum negative” on Treasurys on July 6 when the yield on the benchmark 10-year Treasury note hit 1.32 percent.

    “We never short in our mainline strategies. We also never go to zero Treasurys. We went to lower weightings and change the duration,” Gundlach said.

    read more.

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August 2, 2016 Posted by | Economics | , , , , , , | Leave a comment

Italy’s UniCredit Shares SUSPENDED as Banking Crisis Grows

Eurozone_collapse_dominoes_Greece_trigger

  • Italy’s UniCredit Shares SUSPENDED as Banking Crisis Grows
    by LANA CLEMENTS, http://www.express.co.uk/ , 1 Aug 2016  
    SHARES in Italian lender UniCredit were suspended this morning amid rising fears the country’s banking crisis could tip Europe over the edge.

    Investors rushed to dump UniCredit stock after stress tests issued Friday prompted worries over the firm’s stability in a downturn. The selling frenzy triggered a temporary trading freeze before leaving the firm’s share price nursing losses of five per cent.

    Italy’s oldest bank Monte dei Paschi di Siena (MPS) came out as the weakest firm in the European stress tests, which are designed to show how banks would weather a severe economic crash. Saddled with billions of pounds worth of bad loans, the lender is now relying on a €5billion bailout to save it and stop a crisis that threatens to blow up Europe’s financial system.

    read more.
http://www.express.co.uk/finance/city/686853/Italy-s-deepening-banking-crisis-could-rip-the-eurozone-apart-warn-experts

Click on image for article.

http://www.express.co.uk/news/world/691326/Italy-prime-minister-Matteo-Renzi-political-financial-break-down-Eurozone-European-Union

Click on image for article.

http://www.express.co.uk/news/world/684213/Italy-I-financial-crisis-Euro-EU-European-Union-Brexit

Click on image for article.

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August 1, 2016 Posted by | Economics | , , , , , , , | Leave a comment

The System Cannot Be Sustained, When It Collapses It Will Be Epic: Gregory Mannarino

July 28, 2016 Posted by | Economics, Social Trends | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

AHEAD: $100 Silver, $10,000 Gold | Bo Polny

  • Published on Jul 25, 2016
    IN THIS INTERVIEW:

    – Precious metal market update ►0:54
    – Stock market crash coming ►2:56
    Viewer Questions
    – When the Dow suffers its biggest drop at some point in the next two months, will share prices of the precious metals miners plummet as well? ►6:26
    – When will silver break $50/oz? ►8:18
    – When does Bo think gold/silver will peak? ►10:43
    – How Bo sees the technology fixing the precious metal price manipulation? Will there ever be price separations (paper vs physical)? ►11:52
    – Would you advise owning more silver to gold? At what ratio of silver to gold? ►13:36
    – I own silver certificates (presently underwater, bought in 2011) and realize that, not holding the actual is risky. I wonder how high silver could go where the paper silver promises may be dissolved or not honored…could I wait til $35 to $70.00 to sell them back to the bank or would I be wise to sell now, buy the physical metal? ►18:53
    – What does his cycle analysis have in regards to Bitcoin? ►20:21
    – What is your view on Yuan joining SDR Currency Basket on specifically chosen 10-02-16 Jubilee date as well as ramifications to current economic conditions? ►21:53
    – Will the United States experience hyperinflation? ►24:16

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July 27, 2016 Posted by | Economics | , , , , , , , , , , , , , | Leave a comment

Govt Wants CURRENCY DEBASEMENT | Axel Merk

  • Published on Jul 24, 2016
    IN THIS INTERVIEW: 

    – Can monetary policy improve the sluggish economy? ►0:47 
    – Why is the Fed focused on financial markets? ►5:13 
    – Higher interest rates coming? ►9:41 
    – Interest rates and government debt ►13:53 
    – Investing in gold and silver ►16:23 

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July 25, 2016 Posted by | Economics | , , , , , , , , , , , , , , | Leave a comment

Why This Could Be the End of Europe as We Know It

EUrope_collapse_cartoon

  • Why This Could Be the End of Europe as We Know It
    by https://www.caseyresearch.com/  
    The world’s biggest economy is unraveling.
    Regular readers know we’re talking about the European Union (EU). The EU is an economic union made up of 28 countries. It was put together after World War II to keep European countries from going to war with one another.

    Over time, it turned into the world’s biggest economic experiment. And, right now, that experiment is going awry.

    As you probably heard, the United Kingdom voted to leave the EU a month ago. The “Brexit,” as folks are calling it, shook financial markets from London to New York City. It knocked more than $3 trillion from the global stock market in two days.

    Then, things calmed down. Over the past three weeks, global stocks have regained more than $4.5 trillion. The S&P 500 and Dow just hit new all-time highs. Many folks now think things are OK in Europe.

    As you’re about to see, things aren’t fine. That’s because Europe now has a much bigger problem than the Brexit. Italy, Europe’s fourth biggest economy, is racing toward a full-blown banking crisis.

    Today, we’ll show you why this isn’t just a problem for Italy. It’s a serious threat to all of Europe. One of our analysts even says Italy’s banking crisis could trigger the end of Europe as we know it.

    • Italy’s banking system is a disaster…

    Financial Times
    reported last week:

    The amount of gross non-performing loans held by the [Italian] banks increased 85 per cent to €360bn in the five years to 2015… The total stock of bad debts — the most distressed part of the pile — more than doubled over the same period.

    read more.
http://www.express.co.uk/news/world/691326/Italy-prime-minister-Matteo-Renzi-political-financial-break-down-Eurozone-European-Union

Click on image for article.

http://www.telegraph.co.uk/business/2016/07/16/why-italys-banking-crisis-will-shake-the-eurozone-to-its-core/

Click on image for article.

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July 25, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , | Leave a comment

Bo Polny Predicts Worst Stock Market Crash in History By End Of The Jubilee Year on October 2

  • Published on Jul 22, 2016
    Jeff interviews Bo Polny of Gold2020 Forecast topics include: the Shemitah market cycles, the timing of Brexit, 9/11 and the assassination of John F Kennedy in the market, a whole lot of other important events fall on Shemitah cycle dates, the US to hit its debt ceiling, activities of the Pope take place on Shemitah & Jubilee dates, Israel, Syria and Turkey, new nuclear ambitions in the U.K. Bo’s predictions regarding the DOW, time to get out of the markets and into gold and silver, the gold cycle shows upcoming all time highs, the TDV portfolio is up 200% this year so far!

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July 25, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , | Leave a comment

Gerald Celente: WW3 To Prevent Worst World Market Crash in History

  • Published on Jul 23, 2016
    Gerald Celente, popular guest is back to discuss the further progression on war propaganda and market crashes. He states that the richest 62 people have more wealth than the entire world.

    Checkout Gerald’s new Site for Peace: http://OccupyPeace.US & The Trends Journal: http://TrendsResearch.com 

    TOPICS IN THIS INTERVIEW:
    02:20 28 Pages Implicating Saudi Arabia in 9/11
    05:40 Turkey fake coup, more on Middle East Destabilization
    08:40 World Standard of Living Dropping, Elite 0.1% Enriched
    09:45 Stock Market Propped up from Collapse Years Ago
    14:40 How will US Economy Collapse & Next QE Scam
    16:40 Potential World War 3 to Prevent Huge Collapse

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July 25, 2016 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Former Fed Governor: Fed Is Not Data Dependent; It Is Propping Up Asset Markets

Don't you see the Illuminist pyramid and Satanic capstone on your dollar bill? The symbol of the Anti-Christ.

Don’t you see the Illuminist pyramid and Satanic capstone on your dollar bill? The symbol of the Anti-Christ.

  • Former Fed Governor: Fed Is Not Data Dependent; It Is Propping Up Asset Markets
    by , http://schiffgold.com/ 
    Earlier this year, Peter Schiff picked up on something few reported on when a former Federal Reserve president admitted the central bank created a phony wealth effect by pumping up stocks and other asset markets through its monetary policy. Several months later, analysis proved this was true, showing that 93% of the entire stock market move since 2008 was caused by Federal Reserve policy.

    Today, the Fed continues to focus on propping up asset markets. Even a former Federal Reserve governor admits this is the case. Kevin Warsh appeared CNBC’s Squawk Box on Thursday and said the Fed isn’t really “data dependent” in the sense that it is looking at the overall economy. It is really market dependent.

    They look to me asset price dependent more than they look data dependent. When the stock market falls like it did in the beginning of this year, they say, ‘Oh, we better not do anything.’ Stock markets are now at career highs. I suspect when they meet over the course of the next 10 days they will suggest, ‘Oh, now they look like they can be somewhat more responsible.’ I don’t like changing policy meeting to meeting based on data, or even with what the S&P 500 is doing. I like making it based on what’s happening on the real side of the economy, and that has not been very convenient over the last six to nine months.”

    read more.

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July 23, 2016 Posted by | Economics | , , , , , , , , | Leave a comment

Déjà Vu, The Economic Indicators Look Alot Like 2008

  • Published on Jul 20, 2016
    Tech companies, financial institutions are continually cutting jobs.White House put together a report telling the American people that student debt is good. The housing market is starting to look a lot like 2008, bubbles everywhere. The IMF are a bunch of clowns and almost everyone of their predictions did not come true.

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July 21, 2016 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , | Leave a comment

Bill Holter: Markets to Be Shutdown When Derivatives Chain Breaks; Societal Chaos

  • Published on Jul 19, 2016 
    Fan favorite Bill Holter is back this time to discuss the huge risk world financial markets. The derivatives crash starting in Europe could be the first domino to fall. The manipulation and new world order agenda also tie into the 2016 Election where he states they may shut it down if it looks like Trump would win. Gold price suppression will end eventually when markets close after collapse and we reach a new paradigm with fiat currencies and social structure burning.

    TOPICS IN THIS INTERVIEW:
    02:00 US Stocks Manipulated Higher as 2016 Election approaches
    03:30 More Stocks down on average than actually up
    05:30 Negative Interest Rates make Debt worth more than Cash
    07:30 Deutsche Bank Derivatives Risk; Europe/Italian Banks to Crash First
    11:00 More QE, Helicopter Money; All Fiat Currencies to Be Destroyed
    12:30 2016 Election: Clinton vs Trump, How crazy will this get?
    14:00 Possible Election Suspension as Black Lives Matter Protests Rage
    16:30 If Trump is Not a Trojan Horse he’d clean up the Government
    17:45 NWO Has 100% Control; Reset Coming; Commodities to Skyrocket
    18:20 Gold Price Suppression Scheme to End with Market Shutdown

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July 20, 2016 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , | Leave a comment

Bill Holter: Financial Derivatives Chain is Breaking; Market Collapse Soon; 2016 Election Suspension?

  • Published on Jul 15, 2016 
    Fan favorite Bill Holter is back this time to discuss the huge risk world financial markets. The derivatives crash starting in Europe could be the first domino to fall. The manipulation and new world order agenda also tie into the 2016 Election where he states they may shut it down if it looks like Trump would win. Gold price suppression will end eventually when markets close after collapse and we reach a new paradigm with fiat currencies and social structure burning.

    TOPICS IN THIS INTERVIEW:
    02:00 US Stocks Manipulated Higher as 2016 Election approaches
    03:30 More Stocks down on average than actually up
    05:30 Negative Interest Rates make Debt worth more than Cash
    07:30 Deutsche Bank Derivatives Risk; Europe/Italian Banks to Crash First
    11:00 More QE, Helicopter Money; All Fiat Currencies to Be Destroyed
    12:30 2016 Election: Clinton vs Trump, How crazy will this get?
    14:00 Possible Election Suspension as Black Lives Matter Protests Rage
    16:30 If Trump is Not a Trojan Horse he’d clean up the Government
    17:45 NWO Has 100% Control; Reset Coming; Commodities to Skyrocket
    18:20 Gold Price Suppression Scheme to End with Market Shutdown

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July 18, 2016 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Jim Rogers: Deutsche Bank is Broke, Financial Derivatives Collapse Coming!

  • Published on Jul 13, 2016
    This New Gold Stock Headed Up by an All-Star Management Team:

    http://FutureMoneyTrends.com/GoldIPO 

    Often featured on mainstream television networks for economic analysis, Jim Rogers is graciously with us once again to discuss the macro picture of where the world is during this economic crisis. Jim reiterates the great value and preservation of wealth tool that Gold is especially with China most likely hoarding massive tons of it.

    TOPICS IN THIS INTERVIEW:
    01:15 Interview Start 
    01:45 Fear & Greed leading market today as central banks keep printing 
    04:00 Where are the Elite Positioning Themselves? 
    05:10 Those owning Gold are up 
    05:25 Deutsche Bank crashing; derivatives implosion 
    06:20 China accumulating massive amounts of Gold 
    08:00 Closing thoughts; Can you make money with negative rates? 
    Get more from Jim: http://JimRogers.com 

WarrenBuffet-Financial_Derivatives_r_WMD_n_time_bombs_for_the_economic_system

Paul Wilmott, who holds a doctorate in applied mathematics from Oxford University, has warned that the so-called notional value of the worldwide derivatives market is over $1.4 quadrillion (Quadrillion = 1000 Trillion).

Paul Wilmott, who holds a doctorate in applied mathematics from Oxford University, has warned that the so-called notional value of the worldwide derivatives market is over $1.4 quadrillion (Quadrillion = 1000 Trillion).

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July 15, 2016 Posted by | Economics | , , , , , , , , , , , , , , , , , | Leave a comment

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