1. (via EaSTeR ViSiToRS… | Zero Hedge)

    (via EaSTeR ViSiToRS… | Zero Hedge)

  2. But as Hülsmann goes on to argue, all of these contentions are wrong, and have been proven to be wrong since the times of Adam Smith and David Ricardo. A paper money system is not beneficial “from an overall point of view”. (Nor has any unbacked paper money system ever lasted.) A paper money system does not create real resources on which our welfare depends. “It merely distributes the existing resources in a different manner; some people gain, others lose. It is a system that that makes banks and financial markets vulnerable, because it induces them to economize on the essential safety valves of business: cash and equity.”
    -
    The conventional view of deflation is that if it sets in, “the banking industry, the financial markets, and much of the rest of the economy will be wiped out in a bottomless deflationary spiral.” But as Hülsmann goes on to argue, such a spiral would not prove fatal to the lives and welfare of the general population. Rather, it would destroy “essentially those companies and industries that live a parasitical existence at the expense of the rest of the economy, and which owe their existence to our present money system.”
    -
    Let us be more explicit. Severe deflation threatens at an existential level bankrupt banks and the bankrupt governments that perpetuate their existence. Deflation is a mortal enemy to the heavily indebted state and its embedded parasites, but it is a friend to the saver and to anyone with a positive net worth. Because it is so dangerous to the debtor, (unelected) central bankers clearly feel they have no option but to incinerate savers at the altar of perpetuating an unsustainably indebted banking and political elite.

    — Everything We Are Told About Deflation Is A Lie | Zero Hedge

  3. Technically, [Yahoo is] worse than worthless. Worthless means without worth. Worthless means $0.00. But Yahoo’s core business—mostly search and display advertising—is worth more like negative-$10 billion, according to Bloomberg View’s Matthew C. Klein.

    — 

    How Is Yahoo So Worthless? - Derek Thompson - The Atlantic

    On fundamentals Yahoo is worthless, yet it continues to attract capital because QE, ZIRP, yo. Investor cash has nowhere to go but to high-risk equities like worthless dot commies. Most of the U.S. economy—but particularly the tech and biotech sectors—are worthless in terms of fundamentals yet valued at levels not seen since the last round of asset inflation just before the bubble burst.

    Welcome to the fantasy economy of Obama’s Geithner and now Lew.

  4. 
Moreover, the federal government’s debt threatens both its management of vast tracts of the West as well as its ability to come through with payments in lieu of taxes to the states, he said. Utah gets 32 percent of its revenue from the federal government, much of it unrelated to public lands.

(via Western lawmakers gather in Utah to talk federal land takeover | The Salt Lake Tribune)
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Provinces struggle against central state everywhere, yo. General trend in our era of decline, consolidation, and collapse. Were central state political classes capable of critical reflection they would implement a staged draw-down of central power to sustainable levels. But power does not confer consciousness, only its opposite. All of North America is now the Bundy Ranch, yo. Expect a future of helicopters, armoured trucks, paramilitaries, and the long speeches of wealthy kleptocrats like Senator Reid and his family.

    Moreover, the federal government’s debt threatens both its management of vast tracts of the West as well as its ability to come through with payments in lieu of taxes to the states, he said. Utah gets 32 percent of its revenue from the federal government, much of it unrelated to public lands.

    (via Western lawmakers gather in Utah to talk federal land takeover | The Salt Lake Tribune)

    -

    Provinces struggle against central state everywhere, yo. General trend in our era of decline, consolidation, and collapse. Were central state political classes capable of critical reflection they would implement a staged draw-down of central power to sustainable levels. But power does not confer consciousness, only its opposite. All of North America is now the Bundy Ranch, yo. Expect a future of helicopters, armoured trucks, paramilitaries, and the long speeches of wealthy kleptocrats like Senator Reid and his family.

  5. (via Democrats Told “Don’t Mention ‘Economic Recovery’ - It’s A Political Loser” | Zero Hedge)

But stocks are at record highs, right? Recovery! 

Data is the new propaganda, yo. Only Democrats now discover to their peril that fantasy data to support the false hope of “recovery” is no consolation for the lost job that once supported a familiy. MOAR stimulus they will cry as they draw all the wrong conclusions.

    (via Democrats Told “Don’t Mention ‘Economic Recovery’ - It’s A Political Loser” | Zero Hedge)

    But stocks are at record highs, right? Recovery!

    Data is the new propaganda, yo. Only Democrats now discover to their peril that fantasy data to support the false hope of “recovery” is no consolation for the lost job that once supported a familiy. MOAR stimulus they will cry as they draw all the wrong conclusions.