How the Mighty Eventually Fall
The embattled JP Morgan Chase drowning now in various legal battles with both clients and regulators has agreed with 21 institutional investors to pay $4.5 billion to resolve claims the bank sold faulty mortgage securities according toBloomberg. This is just a preliminary deal that covers 330 mortgage bond trusts issued between 2005 and 2008. Drawing first blood from JP Morgan, the favorite son Goldman Sachs who allegedly controls most regulators in the US and Europe not to mention politicians, has lost its shine and will become the next target.
Global Market Watch for November 15th Updated
The Global Market Watch has been posted for the close of November 15, 2013.
The Deflation Gripping Spain
The Austerity measures in Spain have resulted in heaps of garbage all over the place as state workers go on strike for 11 days. Yes, Spain has been forced to layoff state workers and has planned to lay off 1,134 of 6,000 workers who clean the city and impose pay cuts on the rest. Those who cannot see the deflation should pay close attention. Spain has been cutting state wages in some cases by up to 40% to keep your job. As pensions rise, governments are realizing that they cannot replace the workers for there is not enough taxes to cover the bills. This whole thing is the OPPOSITE of hyperinflation. Established governments have historically moved into the deflation mode not hyperinflation. They turn against their own people killing the economy and it becomes merely a dog chasing his own tail until he collapses from exhaustion.
The Fairness Study
The interesting aspect of the Fairness Study is pretty much the Democratic and Socialist Agenda. Animals expect to be treated fairly for the same work. Here are two monkeys side by side who have a task of giving a stone for a piece of food. When the money on the left sees he is only getting a cucumber for the same task the other gets a grape, they protest throwing the cucumber at the attendant. The Socialists expect the same reward for different tasks.
Fix Syria?
Obama’s Legacy
