Entries by Contributor (198)
Contributed by Don Quijones: The eternal economic malaise affecting many European countries is sparking a resurgence of the long-dormant forces of nationalism. In the most perverse of ironies, the closer the old continent gets to fulfilling the Eurocrats’ vaunted dream of political union, the more divided and unruly its constituent parts become.
Contributed by Chriss Street: Now there is evidence that IRS agents may have “knowingly and willfully” retaliated against a conservative “Enemies List” during the 2010 Congressional election and continuing through the 2012 Presidential election.
Contributed by Valentin Mândrăşescu, Editor of Reality Check @ The Voice of Russia: The status of the US dollar as the world reserve currency gives the US tremendous advantages. Among them: it allows the Fed to export inflation, while the Federal Government can run a huge deficit with impunity. But now an angry Russia has had enough!
Contributed by Don Quijones: Europe’s experiment in political and economic centralization is radically changing the lives of half a billion Europeans. National sovereignty and democracy may be threatened. For example, up to 80% of all laws passed by national governments of EU states are mere rubber stamped edicts emanating from Brussels.
Contributed by Daniel J. Graeber of Oilprice.com. Growing security risks in the Middle East and North Africa are giving oil companies the jitters. But with seven of the 12 OPEC members experiencing some form of upheaval, the cost of doing business suggests members may need more than a little bit of luck to return to glory.
Contributed by Don Quijones: A daily ration of bread is now beyond the reach of roughly a billion people on planet Earth. What’s more, hunger is spreading like a pandemic, making incursions from its traditional strongholds in the global south to towns and cities across depression-hit Southern Europe. In Greece....
Contributed by George Dorgan: We think that the Italian, other peripheral economies, and also France will follow Japan for a decade or more of balance sheet recession: stagnant wages, falling real estate prices and a reduction of private debt. On one side, we reckon that this might not be so....
Contributed by Maudlin Economics: Excellent essay by John Maudlin on the heated debate over the correlation between debt and GDP growth, and the fundamental conclusion by Ken Rogoff and Carmen Reinhart that debt is not a problem until it becomes one – the “Bang! moment.” Followed by the Rogoff and Reinhart paper itself!
Contributed by Chriss Street: The Eagles got it right with Hotel California: “You can check out any time you like, but you can never leave!” The San Jose City Council, facing huge budget deficits, tried to terminate life-time pension benefits for Council members. Turns out, ending wildly expensive benefits may be wildly more expensive than staying in the plan.
Contributed by Daniel Graeber of Oilprice.com: New US Interior Department Secretary Sally Jewell went green when she announced her department would get hybrid vehicles to advance a federal low-carbon footprint. The next day, she announced plans for a lease sale in the Gulf of Mexico – in line with President Obama's "all-of-the-above" energy policy.
Contributed by Don Quijones: It is as if the youngest democracy in Western Europe has lost its youthful innocence. After the betrayal of so many hopes and promises, reality is dawning on the people that neither democracy nor EU membership quite are the panacea they were cracked up to be.
Contributed by Jen Alic of Oilprice.com. In Kiobel vs. Royal Dutch Petroleum, the US Supreme Court has ruled that Nigerian nationals do not have the right to sue the oil company for alleged rights abuses overseas, dashing the hopes of Esther Kiobel, who filed her lawsuit against Shell in 2002 shortly before she became a US citizen.
Contributed by Chriss Street: The FBI and Justice Department put-on a media dog and pony show to trumpet how the combined forces of law enforcement captured the Boston Marathon Bombers. Nothing could be farther from the truth. The investigative heroes were millions of members of the social-media site Reddit, who virally leveraged their diverse skills.
Contributed by Don Quijones: “We make or break human life every day of every year as probably no other force on earth has ever done in the past or will ever do again” — Davison Budhoo, former IMF economist who in 1988 broke ranks and published a scathing 150-page resignation letter. In it he accused the IMF of corruption, self-interest, and deceit.
Contributed by Chriss Street: US Bankruptcy Judge Christopher Klein ruled in the Stockton, CA, municipal bankruptcy case that public employee pension obligations are nothing more than a “garden variety creditor.” As Barrack Obama, after winning the Presidency in 2008, had put it: “At this defining moment, change has come to America.”
Contributed by Don Quijones: Catalonia’s riot police unleashed the untamed fury of the state upon the protestors and cleared Barcelona’s Plaza Catalunya of all occupants. A dense ring of shell-shocked people gathered around the square. I was one of them. A child riding on his father’s shoulders held up a sign: “No soy anti sistema, el sistema es anti yo,” it said (I’m not anti-system; the system is anti-me).
Contributed by Doug Casey, Chairman, Casey Research: "Another reason for having a second passport – certainly if you're an American – is that nobody anywhere in the world wants to open a bank account for you. It's a subtle and indirect form of exchange control that the US has already imposed."
Contributed by Ross Thomas. As the value of a Bitcoin soars and dives and soars in mega-percentages, and as perfectly sane people wonder what the heck it is and then suddenly jump on the bandwagon with both feet, Ross, a computer security researcher and software developer, pokes around in its ugly innards.
Contributed by Chriss Street: Since 2008, 2.2 million jobs have been lost among the 25-54 year olds, even as their numbers grew by over 3 million. Young people who thought they’d scrimp by until they “moved up” now expect to never have a decent life and are trying to adapt to their new reality. Since 2008, America seems to have failed many Americans.