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The Decline Of America's Economic Model In 1 Simple Chart

"You can't eat GDP, and you can't live in a rising stock market" is the striking phrase from NY Times' Neil Irwin as he offers the most damning chart of the decline of America's Economic Model (and dream). As we have explained vociferously, the most important thing to understand about today’s economy is: Around 1999, growth in the United States economy stopped translating to growth in middle-class incomes. The choice, by Greenspan and carried on by his followers, was to enable the...

zerohedge.com

2 hrs ago

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Military Plant In East Ukraine Devastated By Massive Explosion; Kiev Accuses Russia Of Using Tactial Nuke

Last night's headlines crowed in bright red flashing text that Russia and Ukraine had (once again) agreed a cease-fire and terms over the borders between the two nations. Perhaps not surprisingly, mere hours later, Ukraine is claiming that Russia has broken the truce... with the use of a tactical nuclear weapon at Luhansk airport. This comes on the heels of claims by the pro-Russia separatists that Kiev forces destroyed a massive military plant in Donetsk. Russia's defense ministry flatly denies...

zerohedge.com

9 hrs ago

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As G20 chases growth goal, members differ on how to get there

CAIRNS Australia (Reuters) - Financial leaders of the Group of 20 top economies remain committed to chasing higher global growth, but were divided on how to achieve it as Germany pushed back at calls from

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2 hrs ago

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Meanwhile, Here's What The "Super-Rich" Are Rushing To Buy

If you said shares of BABA, you'd be wrong. According to the Telegraph, the exodus out of paper wealth and into hard assets is reaching a fever pitch as the "super-rich are looking to protect their wealth through buying record numbers of "Italian job" style gold bars, according to bullion experts." The numbers cited by the paper are impressive: the number of 12.5kg gold bars being bought by wealthy customers has increased 243% so far this year, when compared to the same period last year, said...

zerohedge.com

4 hrs ago

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This Is Why China Russia & China Are Now "The Enemy"

The suppression of gold prices is essential at all costs to the Anglo-American banking interests. The saber rattling and attempts to lure Russia and China into military conflict are about who controls the financial world. Russia and China keep accumulating the eternal currency – gold. The American Empire and their EU disciples continue to accumulate debt and print fiat currencies. Has fiat paper ever won out over gold in the long-run? Change is coming...

zerohedge.com

10 hrs ago

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Greenspan's "Irrational Exuberance" Warning In Context

As the marginal investing bot continues to invest his marginal leveraged dollar-on-the-sideline on an equity market that, as Janet Yellen has explained to the poor, will create a "wealth effect" to sustain everyone through rainy days and retirement, we thought some context worthwhile. On December 5th 1996, Alan Greenspan - upon the recognition that equity market capitalization has bubbled to over 100% of nominal GDP - opined that investors had succumbed to "irrational exuberance." Since then,...

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3 hrs ago

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Gold hits 14-month low, dips below 27000 level; silver under pressure too | Latest News & Updates at Daily News & Analysis

Gold hits 14-month low, dips below 27000 level; silver under pressure too - Extending its losses, gold prices today dipped below the Rs 27,000-mark by losing Rs 40 to trade at about 14-month low of Rs 26,970 per ten gram in the national capital on sustained selling by stockists amid a weak global trend. Besides, slackened demand from jewellers too weighed on the precious metal prices. Silver also remained under pressure for the fourth straight day and slumped by Rs 1,275 to Rs 39,625 per kg on...

dnaindia.com

14 hrs ago

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1 In 4 Americans Want Their State To Secede From The US

With all eyes firmly fixed on Europe's secessionist movements (most notably Scotland and Catalan), the growing tensions in America took a back seat for a moment. But, as Reuters reports, a recent poll found one-in-four Americans want their state to secede from The US with men more secessionist than women and the Southwest most aggrieved. By the evidence of the poll data as well as these anecdotal conversations, the sense of aggrievement is comprehensive, bipartisan, somewhat incoherent, but...

zerohedge.com

11 hrs ago

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AP Reveals 8 Ways Obama's "Most Transparent Administration Ever" Blocks Information

"We have put in place the toughest ethics and transparency laws of any administration in history," President Obama proclaimed four short years ago... However, as AP Washington Bureau Chief Sally Buzbee said recently, the fight for access to public information has never been harder, and in fact, the problem extends across the entire federal government and is now trickling down to state and local governments. Here is Buzbee’s list of eight ways Obama's "most transparent" administration is making...

zerohedge.com

6 hrs ago

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Fear And Loathing In Scotland – Why The "NO"s Won & Lessons Learned From The Vote

8 in 10 "Yes" voters said they were motivated more by 'hope' than 'fear'. 6 in 10 "No" voters said they were motivated by 'fear' of independence and the "No" vote was almost entirely secured by overwhelming support from those aged above 55. So in a nutshell, old people filled with fear blocked independence. Going forward, the older generation problem will naturally resolve itself. So we know that the youth will be deciding the future. Thus, the real question becomes, what will influence the...

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6 hrs ago

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US F-22 Jets Intercept 6 Russian Warplanes 55 Miles Off The Alaskan Coast

Yesterday it was the UK which scrambled a squadron of Typhoon jets when two Russian Tu-95 "Bear" Bombers had gotten too close to its shores, even if still located in international space. Then overnight, none other than the US did the same when two F-22 fighter jets intercepted six Russian military airplanes just over 50 miles away from the western coast of Alaska, military officials said Friday, among which identified as two IL-78 refueling tankers, two Mig-31 fighter jets and the same two...

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11 hrs ago

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DIPP sets up panel to help investors on 'Make in India' - The Economic Times

The DIPP has set up an 8-member expert panel for quick redressal of grievances and queries of global and domestic investors.

indiatimes.com

13 hrs ago

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US skill gaps, shortages, and mismatches | vox

Many high-paying jobs in the US cannot be filled, raising concerns about an existing skills gap. However, this column does not find evidence in support of serious skills gap or shortages in the US labour force. Similarly to other developed economies, the prevailing situation in the US is due to skill mismatches. This could have implications for students and their tuition-paying families.

voxeu.org

2 hrs ago

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