While in July margin debt did dip modestly from near all time highs hit back in June when total margin debt was virtually tied with the previous record, at $464 billion, it was that other metric tracked by the NYSE, namely Investor Net Worth, calculated by subtracting margin debt from the notional represented in free credit cash accounts and credit balances in margin accounts, that was the notable highlight in the July report: at a negative $182.1 billion, a decline of $6.3 billion from the prior month, investor Net Worth has never been lower.
For more than a decade, now, Federal Reserve policy has been guided by the fear of one economic bogeyman: the presumed danger of price deflation. The fear is unfounded and the inflationary solution only leads to disaster. During Alan Greenspans and Ben Bernankes watches at the helm of Americas central bank and now under Janet Yellen, the claim has been that the U.S. needs enough price inflation to ward off the danger of falling prices. Indeed, it was the concern around 2003 that America
Over the past week a new geopolitical mystery emerged: an "unknown" party was launching airstrikes against Libya, which is already reeling in its latest political crisis. The strikes puzzled various media outlets, such as Reuters which over the weekend reported that "Unidentified war planes attacked positions of an armed faction in the Libyan capital Tripoli on Saturday." This follows a similar report when on Monday, the government said unknown fighter jets had bombed positions from armed factions in Tripoli, an attack claimed by a renegade general in Benghazi. Turns out the renegade general was lying, and merely trying to take credit for another party's intervention. That party, or rather, parties has been revealed as Egypt and the United Arab Emirates, which "have secretly teamed up to launch airstrikes against Islamist-allied militias battling for control of Tripoli" And sure enough, "US diplomats were fuming about the airstrikes" as the US was never given advance notice of these attacks.
Joe Russo's insight:
"all of which is possible exclusively thanks to American aid and training."
Because average prices for similar goods are much higher in California or New York than in Mississippi or South Dakota, The Tax Foundation notes points out that the same amount of dollars will buy you comparatively less in the high-price states, or comparatively more in low-price states. Regional price differences are strikingly large, and have serious policy implications. The same amount of dollars are worth almost 40 percent more in Mississippi than in DC, and the differences become even larger if metro area prices are considered instead of statewide averages.
Most Americans assume the Third Amendment to the Constitution is irrelevant in modern America. After all it states: No Soldier shall, in time of peace be quartered in any house, without the consent of the Owner, nor in time of war, but in a manner to be prescribed by law. When was the last time …
"If relativism signifies contempt for fixed categories and those who claim to be the bearers of objective immortal truth, then there is nothing more relativistic than Fascist attitudes and activity. From the fact that all ideologies are of equal value, we Fascists conclude that we have the right to create our own ideology and to enforce it with all the energy of which we are capable. ” Benito Mussolini, Diuturna
“If you don’t want to get shot, tased, pepper-sprayed, struck with a baton or thrown to the ground, just do what I tell you. Don’t argue with me, don’t call me names, don’t tell me that I can’t stop you, don’t say I’m a racist pig, don’t threaten that you’ll sue me and take away my badge.
Joe Russo's insight:
First they came for the Socialists, and I did not speak out—Because I was not a Socialist. Then they came for the Trade Unionists, and I did not speak out—Because I was not a Trade Unionist. Then they came for the Jews, and I did not speak out—Because I was not a Jew. Then they came for me—and there was no one left to speak for me.
The lack of major news media coverage of possibly the biggest government whistleblower revelation since disclosure of the Tuskegee Experiment in 1972 [InfoPlease.com] suggests more than fraud at the highest levels of the Centers For Disease Control (CDC) as well as major vaccine makers, it suggests the nation’s news agencies are complicit in portraying a government view that there is no link between vaccination and the unexplained rise of autism.
The Islamic State of Iraq and the Levant (ISIL), which also calls itself the "Islamist State" and is led by former Abu Ghraib prison detainee Abu Bakr al-Baghdadi, released from U.S. detention in 2004, would not be in existence had the CIA abandoned its policy of creating Islamic extremist groups to sow dissension in the Middle East.
As part of his latest weekly report, Goldman's David Kostin breaks down the full array of strategy "baskets" used by hedge funds at this moment to outperform the market in 2014. In a nutshell, here are the best and worst performing HF strats so far in 2014.
Joe Russo's insight:
Screw these self-anointed traitors - simply use a proven timing strategy to enter and exit the market via index funds - it's that simple, and it beats these bastards hands down (year in and year out) especially after factoring in their exorbitant thieving fee's.