THE
FOURTEEN YEAR RECESSION - (www.theburningplatform.com) “When a government is dependent upon
bankers for money, they and not the leaders of the government control the
situation, since the hand that gives is above the hand that takes. Money has no
motherland; financiers are without patriotism and without decency; their sole
object is gain.” –Napoleon Bonaparte.
Your government tells you we have only
experienced a recession from the third quarter of 2008 through the third
quarter of 2009. So despite experiencing two stock market crashes, the greatest
housing crash in history, and a worldwide financial system implosion the
authorities insist we've had a growing economy 93% of the time over the
last fourteen years. That mental anguish you are feeling is the cognitive
dissonance of wanting to believe your government, but knowing they are lying'
Unemployed? You Might Never Work Again - (www.nytimes.com) The
long-term unemployed “are an unlucky subset of the unemployed.” They tend to be
a little older, a little more educated, a little less white – but really
they’re not that different from the broader pool of people who have lost jobs
in recent years. Except for one thing: There is a good chance they’ll never
work again. These are the sobering conclusions of a new paper by three Princeton University economists including Alan B. Krueger, the former
chairman of President Obama’s Council of Economic Advisors. The paper,
presented Thursday at the Brookings Panel on Economic Activity, is part of a
growing body of research showing that the prospects of people who lose jobs
deteriorate rapidly unless they find new jobs quickly. This has important, but
opposite, implications for monetary and fiscal policymakers. It suggests the
Federal Reserve has limited power to reduce long-term unemployment without
tolerating higher inflation, which Professor Kreuger and his colleagues argue
is affected primarily by the level of short-term unemployment. At the same
time, it suggests that legislators acting with greater force and urgency could
help people whose hopes are slipping away. “Overcoming the obstacles that
prevent many of the long-term unemployed from finding gainful employment, even
in good times,” they wrote, “will likely require a concerted effort by policy
makers, social organizations, communities and families, in addition to
appropriate monetary policy.”
Stocks And Bonds Are Set To Have Their Worst
Long-Term Performance In History - (www.businessinsider.com) Parse
Janet Yellen's comments any way you want, but know one thing: This is likely to
be an interesting year for bond investors. Financial markets last week took a
jolt over comments from the Federal Reserve chair that traders immediately
interpreted as the precursor for rate hikes that would come sooner than
expected. While there seemed to be just as many experts as not saying that the
rate anxiety was justified, behind the scenes fixed income pros prepared for
changes ahead. "Investing in fixed income today is almost the exact
opposite of what it was last year," Rick Rieder, chief investment officer
of megamoney manager BlackRock's Fundamental Fixed Income group and co-head of
Americas Fixed Income, said at a media briefing the day after Yellen's remarks.
BlackRock manages $4.3 trillion for clients.
Fed's Fisher: We have
exhausted efficacy of QE - (www.cnbc.com) A
top U.S. Federal Reserve official critical of the U.S. central bank's
super-easy monetary policy on Friday questioned the very core of the Fed's current
approach, which rests on giving markets a better sense of the future path of
interest rates. That approach, known as forward guidance, received a makeover
on Wednesday, when Janet Yellen wrapped her first policy-setting meeting as Fed
chair with a decision to jettison narrow
economic guideposts in
favor of a much broader set of measures to determine the timing and pace of
future rate hikes. Dallas Federal Reserve President Richard Fisher, in brief
remarks released ahead of a planned speech in London, appeared to question even
the basis of that approach, which Yellen has credited with keeping borrowing
costs lower than otherwise and boosting an economy in great need of stimulus.
Bloomberg hints at curb on
articles about China - (www.cnbc.com) The
chairman of Bloomberg said in a speech on Thursday that the
company should have reconsidered articles that deviated from its core of
coverage of business news, because they jeopardized the huge sales potential
for its products in the Chinese market. The comments by the chairman, Peter T.
Grauer, represented the starkest acknowledgment yet by a senior Bloomberg
executive that the ambitions of the news division should be assessed in the
context of the business operation, which provides the bulk of the company's
revenue. They also signaled which of those considerations might get priority.Acknowledging
the vast size of the Chinese economy, the world's second-biggest after that of
the United States, Mr. Grauer, said, "We have to be there."
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