Debt Rattle September 14 2015
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DPC Wall Street and Trinity Church, New York 1903 • China Stocks Decline Most in Three Weeks (Bloomberg) • China’s Not The Only One Selling FX Reserve
[See the full post at: Debt Rattle September 14 2015]“The country has also made illegal border entry a crime punishable by prison terms.” Haha. As if prison wouldn’t look like the Regency Hotel to either refugees or foot-travelers. Nice try.
News leak this weekend, Syrian source says 4,000 ISIS fighters imbedded among refugees. So few? I suppose more and no one would be left to fight Assad.
Oil writeoffs? Well yes, but oil companies also hedge as standard business practice. So although they may be writing off recent hits, who’s been on the losing side of those months of trillion-odd oil contracts written back at $80bbl? I’m guessing the banks, because any system of hedge funds would have cracked by now. The banks are just bailed out in ever-larger numbers by the Fed and government. Rumor has it via massive failures-to-deliver for which they are never punished. Hey, I’d like to borrow a 2015 Mercedes, not return it (fail to deliver) and pay no penalty but borrow 10 more from you tomorrow. Where do I sign up?
Defunding of U.S. police? Where? Working for the state is the last remaining paying jobs as the rest of the U.S. contracts, like all nations of her type. They are very, very well paid for a very safe job, the injury rate of police being multiples below common jobs such as construction worker or nurse and 10x safer than farmer or fisherman. Willie Sutton, why do they rob the people? “Because that’s where the money is.” For more entertainment on this point, see the Daily Show. https://www.youtube.com/watch?v=3kEpZWGgJks Yes, we robbed you to buy a case of vodka and a Slurpee machine. For the good of the nation, of course. Unfortunately, I do not see either their pay or their legal latitude lasting much longer in this environment, even though we may someday think of these as the good old days.
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