Reckless trading in derivatives in 2012 and recent allegations of deliberate distortion of testimony to federal regulators are two reasons that the powerful Chairman and Chief Executive Officer of JPMorgan is under intense fire prior to the company annual meeting in two weeks. (Image)
Jamie Dimon was the magician who turned a sow’s ear into [...]
That’s what Blythe Masters of JPMorgan does based on evidence from the Federal Energy Regulatory Commission (FERC) and JPMorgan’s recent history. (Image: UCS)
Coal power is the leading source carbon dioxide (CO2) in the atmosphere. CO2 is the leading cause of climate change. Once airborne, the man made filth sticks around for 2 to 20 [...]
By Paul Craig Roberts
Dave Kranzler of Golden Returns declares the April payroll jobs report that was released on May 3 by the Bureau of Labor Statistics to be “fictitious.” 
Statistician John Williams (shadowstats.com) says both the jobs report and unemployment rate are “nonsense.”
I agree with both. But don’t expect the financial [...]
(CSM) – After decades of population loss to cities, rural areas in Spain – and across Europe – have been gaining allure as havens from the ongoing recession.
By Paul Craig Roberts April 28, 2013 | Original here Reposted with permission
“From the end of the recession in 2009 through 2011 (the last year for which Census Bureau wealth data are available), the 8 million households in the U.S. with a net worth above $836,033 saw their aggregate wealth rise by an estimated [...]
So, it was the best of times last week as I took a week’s break from the news and the grind of ordinary life and went on a tropical vacation to central America. Specifically, I went to the Honduran Bay Island of Roatan. And I couldn’t help but take a critical eye to my surroundings.
The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There’s no price the big banks can’t fix.
Rolling Stone, By Matt Taibbi, April 25
Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you [...]
“PARIS — A French court has ordered Christine Lagarde, the managing director of the International Monetary Fund, to appear at a hearing next month connected to an investigation of her handling of a financial scandal when she was the French finance minister.” New York Times, April 18, 2013
Before Lagarde was chosen to [...]
(The Guardian) – Trillions of dollars at risk as stock markets inflate value of fossil fuels that may have to remain buried forever, experts warn
Carbon bubble : carbon dioxide polluting power plant : coal-fired Bruce Mansfield Power Plant Global stock markets are betting on countries failing to adhere to legally binding carbon emission targets. [...]
(Washington, DC 4/15) I’ll go for that. The financial meltdown can easily be seen as a bunch of strung out coke heads trying to fix what they knew they’d broken: grandiosity, pressured speech, bad judgment after bad judgment, avarice, greed, and abandonment of any pretense of morality. (Image: 401K 2013
Dr. David Nutt, MD, chair [...]
Cyprus just got more bad news.
Crisis-hit Cyprus will be forced to find an extra €6bn (£5.1bn) to contribute to its own bailout under leaked updated plans for the rescue.
In total, the bill for the bailout has risen to €23bn, from an original estimate of €17bn, less than a month after the deal was [...]
This is good news. Keep in mind that the real rate of unemployment in these areas is the Fed U-6 level plus the long-term unemployed who want to work and have been out of work for 12 months or more (no longer counted by the Feds). See Shadow Government Statistics
Metropolitan Area [...]
(Updated 4/2) Numerian told us to Pay Attention when the EU and IMF came up with a plan to bail out Cyprus banks (Greek Cyprus) by confiscating deposits. He was right on target, early but just in time. Far from just the announced confiscation of 6% to 9%, it now looks like the dynamics of [...]
Pepe Escobar’s column yesterday (3/26) complimented the excellent class analysis piece by Stirling Newberry in The Agonist. Escobar pointed out the irony of United States and European nations acting like the great white father to the BRICS nations (Brazil, Russia, India, China, and South Africa). He cited figures from the United Nations Human Development Report, [...]
Kiss Your Class Good-Bye
Recently income inequality has become a hot topic. It isn’t that income inequality hasn’t been getting attention for some time. In 1954, Simon Kuznets published what is now a classic paper on whether income inequality affects growth, and by the 1980′s adverse effects of income inequality were being tracked as a [...]