Big Lie

As Long As You Don’t Eat, Price Inflation Is Under Control

"USDA reports: Food prices have also been rising faster than in earlier years, and food price inflation has easily outpaced price inflation for many other types of goods. Among major consumer spending categories, only prices for transportation, which include a number of energy price measures, and medical care have risen faster than food prices[...] Since 2006, when commodity prices began their rollercoaster ride, the all-items CPI has risen 14 percent while the all-food CPI is up close to 20 percent. Here's the real concern: Americans are having to spend a larger portion of their disposable income on food; something that is a reversal of decades long trend." Continue reading →

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The Century of Arbitration and Peace

"All of this provides a real-world example of the possibility of adjudicating disputes in a private and contractual manner. It does not take a huge leap of faith to conclude that a decentralized arbitration system could be extended to smaller and smaller segments of the population, ultimately leading to a private security environment. If it can be done between states, why not between individuals (or private insurance / security companies) in a world without states as we currently use the term? Why limit the possibilities by geographical boundaries – some form of panarchy, if you will?" Continue reading →

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Doug Casey: “We’re Still In The Midst Of The Biggest Bubble In World History”

"We’re still in the midst of the biggest bubble in world history. It’s bigger than the tech stock market bubble around the turn of the century. It’s bigger than the real estate bubble…[it's] the bond bubble. With interest rates ranging from zero to a few percent—this is the biggest bubble in history and when it collapses, it’s going to be catastrophic because the bond market is so huge. It’s much bigger than the stock market is. [..] We’re pretty close to the edge of the precipice…it’s fascinating to watch but I can’t be optimistic about the next few years…[but] that doesn’t mean the world is going to come to an end—It just means it’s going to be reorganized.” Continue reading →

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Bill Bonner: US Market Crash Alert!

"Investors trust the Federal Reserve to protect their money...just as the Fed makes their investments less trustworthy! Because the more influence the Fed exerts over prices, the farther they move away from where they ought to be. Ah yes, dear reader, that is one of the curious, always-fascinating feedback loops that keeps life on planet Earth ‘normal’. Whenever things get too weird, something intervenes to make them less weird. And one of those things is a certain Mr. Market. It’s all very well for investors to believe the Fed won’t allow them to lose money. That’s what makes it possible for non-delusional investors to make a lot of money." Continue reading →

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Truth From The Treasury Secretary: Social Security at Risk

"He is only talking here about the problems that political gamesmanship between Democrats and Republicans might temporarily cause in the Treasury selling debt. But the danger is the same, if not greater, when markets won't allow the Treasury to raise funds at cheap rates. It will mean cutbacks in Social Security and other entitlement programs or it will mean the Federal Reserve stepping in and printing more money to buy the Treasury securities that no one else will want. Either way, it won't turn out well for the retirees who depend on Social Security, either there will be immediate cutbacks or price inflation will cut into the purchasing power of the payments." Continue reading →

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Bond Funds Lose $30.3 Billion in August in Big ‘Shift’

"The withdrawals for the month through Aug. 19 are already the third-highest on record, following $69.1 billion of withdrawals in June and $42 billion in October 2008, according to a report dated yesterday by TrimTabs Investment Research in Sausalito, California. Bond funds have suffered $4 billion in redemptions this year, on pace for the biggest withdrawals since investors pulled $7 billion in 2004. The prospect of losses in the fixed-income market and rising rates have spurred investors to retreat after pouring $1.2 trillion into bond mutual funds and ETFs from 2009 through 2012." Continue reading →

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CIA finally admits it masterminded Iran’s 1953 coup

"On the 60th anniversary of the 1953 military coup in Iran that overthrew the government of radical nationalist Mohammad Mossadegh, the US has declassified documents detailing how the CIA’s secret operation brought the country’s Shah back to power. Monday’s publication under the US Freedom of Information Act came as something of a surprise, since most of the materials and records of the 1953 coup were believed to have been destroyed by the CIA, the Archive said. The CIA said at time that its 'safes were too full.'" Continue reading →

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NSA surveillance reach broader than publicly acknowledged

"The National Security Agency's surveillance network has the capacity to spy on 75 percent of all U.S. Internet traffic, The Wall Street Journal reports. The NSA programs described by the Journal differ from the programs described by former NSA contractor Edward Snowden in a series of leaks earlier this summer. Snowden described a program to acquire Americans' phone records, as well as another program, known as PRISM, that made requests from Internet companies for stored data. By contrast, the Internet monitoring systems have the capability to track almost any online activity, so long as it is covered by a broad court order." Continue reading →

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NSA spied on Americans until a judge ruled it illegal in 2011

"The National Security Agency spied on electronic communications between Americans in a program that was later scrapped after a judge ruled it illegal in 2011, US officials said Wednesday. The court’s opinions are usually top secret but the move to release the documents came amid a firestorm over revelations of sweeping surveillance operations, following bombshell disclosures from a former US intelligence contractor, Edward Snowden. Officials said the court rulings had been declassified to better inform the public about how the eavesdropping programs are carried out, and that a mistake had occurred due to a technical problem." Continue reading →

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Japan’s nuclear crisis deepens, China expresses ‘shock’

"The U.N.'s International Atomic Energy Agency (IAEA) said on Wednesday it viewed the situation at Fukushima 'seriously' and was ready to help if called upon, while nearby China said it was 'shocked' to hear contaminated water was still leaking from the plant, and urged Japanto provide information 'in a timely, thorough and accurate way'. The plant's operator, Tokyo Electric Power Co, or Tepco, has been criticized for its failure to prepare for the disaster and has since been accused of covering up the extent of the problems at the plant. After months of denial, Tepco recently admitted the plant was leaking contaminated water into the Pacific Ocean." Continue reading →

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