Santa’s manipulations, economic coup, dropping income, and dodgy appraisals for Christmas


CONTRA CORNER

Why Every Asset Price Which Influences Monetary Policy Transmission Is Now Manipulated: B-Dud Explains The Fed’s Economic Coup

By David Stockman

graphKeynesian economists are annoying enough when they are pitching inflated financial assets on Wall Street or the supposed curative powers of fiscal deficits on Capitol Hill. But they become positively dangerous when they populate the Eccles Building and usurp control of the nation’s capital and money markets lock, stock and barrel in the name of “monetary accommodation”. Needless to say, the …

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Washington Goes Nation-Building In Afghanistan—–Another Flaming Failure

By Ivan Eland

As U.S. forces withdraw from parts of Afghanistan, the Taliban is making gains in several areas of the country. The Afghan police and army are slowly giving way, despite the United States spending 13 years and tens of billions of dollars training those forces. When the United States completes its withdrawal from ground combat at the end of this year, this unfavorable trend will undoubtedly accelerate – that is, if the Afghan security forces don’t collapse altogether, as did similarly U.S. trained Iraqi forces in that country………

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The Oil-Drenched Black Swan, Part 2: The Financialization of Oil

By Charles Hugh Smith

All the analysts chortling over the “equivalent of a tax break” for consumers are about to be buried by an avalanche of defaults and crushing losses as the chickens of financializing oil come home to roost.The pundits crowing about the stimulus effect …

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After $3.5 Trillion Of Fed Money Printing Since 2007: WSJ Investigation Shows Middle Income Households Going Backwards

By Contributor

graph2the Journal analyzed Labor Department data on 2013 out-of-pocket spending for the middle 60% of the population by income—households earning between about $18,000 and $95,000 a year, before taxes……..The data show they are losing ground. Overall spending for the group rose by about 2.3% over the six-year period from 2007, even as inflation totaled about 12%. At the same time, income for the group stagnated, rising less than half a percent.

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homesThat Didn’t Take Long: “Dodgy Home Appraisals Are Making A Comeback”

By Contributor

Home appraisers are inflating the values of some properties they assess, often at the behest of loan officers and real-estate agents, in what industry executives say is a return to practices seen before the financial crisis………..An estimated one in seven appraisals conducted from 2011 through early 2014 inflated home values by 20% or more, according to data provided to The Wall Street Journal by Digital Risk Analytics, a subsidiary of Digital Risk LLC.

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The Accelerating Recovery Narrative Is Bogus: Black Friday Was Just Plain Worse Than Last Year

By Jeffrey P. Snider

There is an undoubted shift in the behavior of consumers, including and especially during the peak retail season between Thanksgiving and Christmas. However, to say that is the sole reason for the decline in actual sales volume is to stretch that truth into (in many cases intentional) utter misdirection. The initial indications from the retail…

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oil graphWhy Oil Is Finally Declining, Which May Lead to Disaster

By Lee Adler

The price of oil has finally started to obey the law. What law is that? The Law of Supply and Demand. Thanks to the US fracking boom that has done this (see chart) to US production, the supply of oil worldwide has outstripped demand since 2012. So why haven’t prices fallen before this summer? And are falling…

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To get the rest of the story visit Contra Corner.

here’s what at the top of the hamper:

US Debt Reaches $18 Trillion; Surges 70% In ‘Recovery’ of President Obama

 

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