Banking Holiday in Panama Announced!

- Banking Holiday in Panama Announced! (GoldSeek, Sep 26, 2013): This morning the National Bank of Panama announced that it was suspending all services until Tuesday the 1st of October. The National Bank of Panama says that the reason is to upgrade systems. The Banking Holiday in Panama was announced this am. This system wide [...] continue reading world news

‘A Scam Of Unmatchable Balls And Cruelty’ – Matt Taibbi On Wall Street’s ‘Triple-Fucking Of Ordinary People’

- “A Scam Of Unmatchable Balls And Cruelty” – Matt Taibbi On Wall Street’s “Triple-Fucking Of Ordinary People” (ZeroHedge, Sep 27, 2013): What can one say: vintage Matt Taibbi. From Rolling Stone Looting the Pension Funds All across America, Wall Street is grabbing money meant for public workers In the final months of 2011, almost [...] continue reading world news

When Bubbles Fail: Albert Edwards Explains What Happens When The Fed Can No Longer Contain The Fury Of The ’99%

- When Bubbles Fail: Albert Edwards Explains What Happens When The Fed Can No Longer Contain The Fury Of The “99%” (ZeroHedge, Sep 27, 2013): The premise in Albert Edwards’ latest letter “Is the Fed blowing bubbles to cover up growing inequality… again” is simple: the unprecedented social inequality in the US (and the rest [...] continue reading world news

How Dianne Feinstein’s Husband Sells Post Office Real Estate To His Friends On The Cheap

- How Dianne Feinstein’s Husband Sells Post Office Real Estate to His Friends on the Cheap (Liberty Blitzkrieg, Sep 25, 2013): The county records allow for comparing the assessed value of the postal properties before they were sold to the final sales prices negotiated by CBRE on behalf of the Postal Service: And the comparisons reveal [...] continue reading world news

Louis Vuitton Adjusts Business Model To Focus On The Oligarch Market

- Louis Vuitton Adjusts Business Model to Focus on the Oligarch Market (Liberty Blitzkrieg, Sep 26, 2013): You know you have entered Neo-Fedualism when high-end luxury retailers are struggling because there are no longer enough regular wealthy buyers anymore. As regular readers of this blog understand, this is due to the fact that central bankers [...] continue reading world news

Robots May Revolutionize China’s Electronics Manufacturing

- Robots May Revolutionize China’s Electronics Manufacturing (Wall Street Journal, Sep 24, 2013): A new worker’s revolution is rising in China and it doesn’t involve humans. With soaring wages and an aging population, electronics factory managers say the day is approaching when robotic workers will replace people on the Chinese factory floor. A new wave [...] continue reading world news

The Credit Bubble Is Not Only Back, It Is 94% Bigger Than In 2007

- The Credit Bubble Is Not Only Back, It Is 94% Bigger Than In 2007 (ZeroHedge, Sep 23, 2013): If the Fed was worried about ‘froth’ in the markets earlier in the year, then this chart should have them panicking. Of course, as Jim Bullard noted Friday, there is no bubble because everyone knows there [...] continue reading world news