As the European double, and in some cases triple, dip, continues to take its toll, German companies are worried about the medium-term outlook. The actions of policy makers in the coming weeks will determine whether or not these concerns increase further. Come September 12th, we will see if the German Federal Constitutional Court will allow the German economy to be completely flushed down the toilet by supporting the ESM.
Fed & The ECB Are Involved In A Dangerous Game Of Poker
In reviewing the European Central Bank and the Federal Reserve proposed actions of another round of currency depreciation to get their economies going, Michael Pento believes this a dangerous game of poker with the markets. Unfortunately for these two Central Banks, they are not very good at hiding their cards and their promises and threats have already caused commodity and equity prices to rise in anticipation.
LIBOR-Manipulation Liabilities May Top $176 Billion
It may be beginning, but it now appears that liabilities for LIBOR may top $176 billion. This potential liability, for some context, is over 35% of the entire market cap of the Big 5 US banks, or $489.5 billion. Needless to say, they can pull a “Corzine” and simply say that the money just vaporized and they do not know what happened.
Bank of America in Code Red
Bank of America’s top North America economist, Ethan Harris, believes that the bank is at the eye of a financial storm and things are about to get worse. Really? Anyway, they are expecting more money from the Fed in the form of, outright, quantitative easing to save their backsides or they can run to a clueless, gullible, and complicit Congress and state that they are to big to go to jail err… to big to fail.
Protect the Banks at All Costs
Welcome to the new America — where banks must be protected at all costs. Whether it’s a bailout or a trumped up charge to silence a protestor, if the banks want it, they get it. After Iceland’s undeniable recovery, even Paul Krugman is now very slowly beginning to get it when it comes to these criminal banks. So, if this ignorant Nobel Peace prize economist finally gets it, it may not be long afterwards that corrupt bankers, everywhere, could be introduced to tar and feathers.
To Honor Neil Armstrong, Obama Posts Photo of Himself
Well, it looks like Obama’s narcissism and arrogance are still reigning supreme. Instead of picturing Neal Armstrong, he decided to post a picture himself looking up at the crescent moon. Anyway, this piece of BEEP‘s true disdain for Neil Armstrong is clearly illustrated by the fact that the U.S. flag was not at half staff.
Scientists Successfully ‘Hack’ Brain
Using a $299 off-the-shelf Emotiv brain-computer interface, scientist were able to utilize the P300 brain signal and pluck sensitive information from a person’s head. Of course, with this little insight, you know the TSA will be all over this.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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