STOCK MARKET WATCH -- Thursday, 24 December 2015

[Tansy_Gold]

[font size=3]STOCK MARKET WATCH, Thursday, 24 December 2015[font color=black][/font]

SMW for 23 December 2015

AT THE CLOSING BELL ON 23 December 2015
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Dow Jones 17,602.61 +185.34 (1.06%)
S&P 500 2,064.29 +25.32 (1.24%)
Nasdaq 5,045.93 +44.82 (0.90%)


[font color=black]10 Year 2.26% 0.00 (0.00%)
30 Year 2.99% 0.00 (0.00%) [font color=black]


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[font size=2]Market Conditions During Trading Hours[/font]
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(click on link for latest updates)
Market Updates
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
Wall Street on Parade
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[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
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Matt Taibi: Secret and Lies of the Bailout


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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
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[font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.
08/01/13 Fabrice Tourré convicted on six counts of security fraud, including "aiding and abetting" his former employer, Goldman Sachs
08/14/13 Javier Martin-Artajo and Julien Grout charged with wire fraud, falsifying records, and conspiracy in connection with JP Morgan's "London Whale" trade.
08/19/13 Phillip A. Falcone, manager of hedge fund Harbinger Capital Partners, agrees to admit to "wrongdoing" in market manipulation. Will banned from securities industry for 5 years and pay $18MM in disgorgement and fines.
09/16/13 Javier Martin-Artajo and Julien Grout officially indicted on charges associated with "London Whale" trade.
02/06/14 Matthew Martoma convicted of insider trading while at hedge fund SAC (Stephen A. Cohen) Capital Advisors. Expected sentence 7-10 years.
03/24/14 Annette Bongiorno, Bernard Madoff's secretary; Daniel Bonventre, director of operations for investments; JoAnn Crupi, an account manager; and Jerome O'Hara and George Perez, both computer programmers convicted of conspiracy to defraud clients, securities fraud, and falsifying the books and records.
05/19/14 Credit Suisse, which has an investment bank branch in NYC, agrees to plead guilty and pay appx. $2.6 billion penalties for helping wealthy Americans hide wealth and avoid taxes.
09/08/14 Matthew Martoma, convicted SAC trader, sentenced to 9 years in prison plus forfeiture of $9.3 million, including home and bank accounts
08/03/15 Former City (London) trader Tom Hayes found guilty of rigging global Libor interest rates. Each fo eight counts carries up to 10 yr. sentence.
08/21/15 Charles Antonucci Sr, former pres. Park Ave. Bank sentenced to 2.5 years in prison for bribery, fraud, embezzlement, and attempt to steal $11MM in TARP bailout funds, as well as $37.5MM fraud on OK insurance company. To pay $54MM in restitution and give up additional $11MM.
09/21/15 Volkswagen CEO Martin Winterkorn apologizes for VW cheating on air quality standards with emission testing avoidance device. Stock drops 20%, fines may total $18B.
09/22/15 Stewart Parnell, CEO Peanut Corp. of America, sentenced to 28 years in prison for selling salmonella-tainted peanut butter that killed nine.
12/17/15 Martin Shkreli, former CEO Turing Pharmaceuticals and notorious price gouger, arrested on securities fraud charges. Posted $5M bail, resigned as CEO.




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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]

[Proserpina]

1. What Influence Does Wall Street Have Over Candidates Clinton and Sanders?

[Proserpina]

2. U.S. Corporations Don’t Need Tax Breaks on Foreign Profits

http://ineteconomics.org/ideas-papers/blog/u-s-corporations-dont-need-tax-breaks-on-foreign-profits

Many Americans have expressed outrage over Pfizer’s plan, through its merger with Allergan, to move its tax home from the United States to Ireland. Now, in a New York Times op-ed, Carl Icahn, the billionaire corporate raider turned hedge fund activist, has joined the chorus. He labels the Pfizer-Allergan deal a “travesty,” blaming the U.S.’s “uncompetitive international tax system.”

The purpose of Icahn’s article is to promote a proposal by Sen. Chuck Schumer, D-NY, and Sen. Rob Portman, R-OH, to lower the U.S. tax rate on profits that U.S. companies repatriate from abroad, from 35% to 10% or lower. U.S. corporations are holding $2.6 trillion beyond our borders, waiting for a tax break before bringing the money home. The proposal, according to Icahn, would generate an estimated $200 billion in federal tax revenues on those holdings. That, he says, “would allow companies to reinvest the nontaxed portion in the United States, creating thousands of jobs.” That does not sound like too much job-creation bang for $2.6 trillion in repatriated bucks, but don’t believe for a moment that job creation is what Icahn has in mind. All the evidence says that the proposed Schumer-Portman tax break on repatriated profits would be used to further enrich people like Icahn, who make their fortunes by extracting value from companies, not by creating value in them.

We’ve seen this movie before. In 2003, the Bush Administration pushed through the Homeland Investment Act, which provided a one-year-only tax break on repatriated profits, with the stipulation that these profits had to be used in the U.S. for investments that create jobs. U.S. corporations responded by bringing back $299 billion in profits in 2005, compared with an average of $62 billion from 2000 to 2004 and a subsequent decline to $102 billion in 2006.

The Homeland Investment Act expressly prohibited the use of these repatriated profits to pay dividends or do stock buybacks. Yet an academic study found that “rather than being associated with increased expenditures on domestic investment or employment, repatriations were associated with significantly higher levels of payouts to shareholders, mainly taking the form of share repurchases.” The researchers estimated that for every $1 increase in the amount repatriated in 2005, the companies increased distributions to shareholders by $0.60 to $0.92, mainly as repurchases. The companies sidestepped the intent of the Act by claiming that domestic funds, not the repatriated profits, had been used for the increased payouts to shareholders...

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[Proserpina]

3. Capitalism – Not China – Is to Blame for the Current Global Economic Decline By Richard D. Wolff

http://www.truth-out.org/opinion/item/34095-capitalism-not-china-is-to-blame-for-the-current-global-economic-decline

Capitalism, like a speeding train, barreled into a stone wall in 2008. Shocked and dazed, its leaders have been trying to “recover.” By that, they mean to fix the mangled tracks, reposition the locomotive and cars on those tracks and resume forward motion. No basic economic change, in their view, is needed or even considered. They see no absurdity in such a “recovery plan” – just as they saw no approaching catastrophe in the years leading up to 2008.

It was Marx who clearly explained in Capital the contradiction capitalism’s leaders rarely grasp. Showing how capitalists compete (and survive in competition) by maximizing profits, he focused his readers on capitalists’ strategies of “economizing” on the number of workers they hire (often by substituting machines) and/or replacing more costly workers with cheaper employees. The contradiction emerges when their economizing undermines the market for what capitalists must sell to survive. Boosting their profits by saving on labor often reduces laborers’ total purchasing power, what they can afford to buy from capitalists. That hurts capitalists’ sales and profits. Likewise, when workers’ wages and salaries rise, the resulting benefits to capitalists’ sales can be partially or totally reversed as higher wages cut into profits. The history of capitalism often wobbles between the poles of this contradiction.

Starting in the 1970s, capitalism intensified its economizing on labor. This became possible because huge new supplies of labor power entered the orbits of the established old centers of capitalism (Western Europe, North America and Japan). Most of those new, additional workers had previously been excluded from the labor forces available to those old centers. They had been kept away inside capitalism’s formal and informal colonies in Asia, Latin America and Africa or else inside state capitalisms (Soviet Russia, Eastern Europe and China). After the 1970s, such workers were brought into direct capitalist employment either by migrating to Western Europe, North America and Japan or by the movement of capitalist enterprises from old to new centers (China, India, Brazil etc.).

Integrating those newly available workers into globalizing capitalism raised the total supply of labor power far above capitalists’ demand for it. That supply-demand imbalance sharply lowered their wage bills and boosted their profits. Capitalists’ lower outlays for workers’ wages might have quickly depressed the purchasing power of the total working class, undermined the market demand for capitalists’ output and thereby depressed profits: another case study of capitalist contradiction. However, the 1970s saw a quite unique development that postponed the depression of working-class demand. A massive expansion of consumer credit (mortgage debt, car loans, credit cards etc.) in the old capitalist centers took off. After the 1970s, workers offset stagnant or falling real wages there by borrowing...

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[Proserpina]

4. Food Stamp Beneficiaries Exceed 45 Million for 53 Straight Months

http://freebeacon.com/issues/food-stamp-beneficiaries-exceed-45-million-for-53-straight-months/

...There were 45,415,445 beneficiaries of the food stamp program in September 2015, the latest month for which data is available. The number declined by 48,988 from August to September.

The USDA has been tracking data on participation in the program since fiscal year 1969, at which time average participation stood at about 2,800,000. This means that since then, participation in the program has increased by roughly 16-fold.

Maura Corrigan, a scholar at the American Enterprise Institute, says that despite improvements in the economy, the program remains large and too few adults who benefit from the program are working.

“As a former state human services director who administered more than 70 federal means-tested welfare programs, I believe that one track is especially important for reforming welfare programs” she said. “Our nation’s simple three-word mantra should be: “Better Off Working.” Social safety-net programs, including SNAP, should expect and encourage work—and the dignity and responsibility that accompany it—from those who are able to do so.”

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[MADem]

5. Isn't that a right wing rag? And don't most food stamp recipients already have JOBS?

I'm shocked that I am seeing that kind of offensive argument here at DU.

The Washington Free Beacon is an American web site that publishes news and associated content from a neoconservative perspective. It states it is "dedicated to uncovering the stories that the powers that be hope will never see the light of day" and producing "in-depth investigative reporting on a wide range of issues, including public policy, government affairs, international security, and media."[1] It was founded by Matthew Continetti and Michael Goldfarb and launched on February 7, 2012, as a project of the 501(c)4 organization Center for American Freedom.[2] In August 2014, it announced it was becoming a for-profit news site.[3]

https://en.wikipedia.org/wiki/The_Washington_Free_Beacon

Myth #1: People who get SNAP don’t work.

FACT: The overwhelming majority of SNAP recipients who can work do so. According to the Center on Budget and Policy Priorities, "Among SNAP households with at least one working-age, non-disabled adult, more than half work while receiving SNAP—and more than 80 percent work in the year prior to or the year after receiving SNAP. The rates are even higher for families with children—more than 60 percent work while receiving SNAP, and almost 90 percent work in the prior or subsequent year."

What's more, many SNAP participants aren't physically able to work. About 20 percent of SNAP participants are elderly or have a disability, according to the USDA.

Myth #2: SNAP is a drain on taxpayers.

FACT: Every $1 in SNAP benefits generates $1.73 in economic activity, according to Moody's economist Mark Zandi. SNAP not only helps low-income people buy groceries, it frees up cash for other expenses, such as medical care, clothing, home repairs and childcare. That benefits local businesses and their employees, which boosts the economy as a whole.

Myth #3: SNAP is rife with fraud and abuse.

FACT: “SNAP has one of the most rigorous quality control systems of any public benefit program,” according to the Center on Budget and Policy Priorities. SNAP fraud has actually been cut by three-quarters over the past 15 years, and the program’s error rate is at an all-time low of less than 3 percent. The introduction of EBT (Electronic Benefit Transfer) cards has dramatically reduced consumer fraud. According to the USDA, the small amount of fraud that continues is usually on the part of retailers, not consumers. http://www.hungercoalition.org/food-stamp-myths

Proserpina
4. Food Stamp Beneficiaries Exceed 45 Million for 53 Straight Months
View profile
http://freebeacon.com/issues/food-stamp-beneficiaries-exceed-45-million-for-53-straight-months/

...There were 45,415,445 beneficiaries of the food stamp program in September 2015, the latest month for which data is available. The number declined by 48,988 from August to September.

The USDA has been tracking data on participation in the program since fiscal year 1969, at which time average participation stood at about 2,800,000. This means that since then, participation in the program has increased by roughly 16-fold.

Maura Corrigan, a scholar at the American Enterprise Institute, says that despite improvements in the economy, the program remains large and too few adults who benefit from the program are working.

“As a former state human services director who administered more than 70 federal means-tested welfare programs, I believe that one track is especially important for reforming welfare programs” she said. “Our nation’s simple three-word mantra should be: “Better Off Working.” Social safety-net programs, including SNAP, should expect and encourage work—and the dignity and responsibility that accompany it—from those who are able to do so.”

more

[Proserpina]

6. go peddle your shock somewhere else

This is what those who are concerned about economics are thinking. It doesn't really matter what IS, it matters what is perceived. We educate ourselves by studying what those in a position to influence the debate are saying, and then work out the counter-argument.

You want to stir up shit, go back to the Hillary group. There you can talk about how Hillary is like your abuela. NOT.

[MADem]

7. No--you're the one doing the peddling. I have provided evidence of my assertions.

Last edited Thu Dec 24, 2015, 05:06 AM - Edit history (1)

You use a wingnut source that tells falsehoods about the employment of individuals using SNAP, and you tell me to push off?

You're the one who is doing the "stir up shit" bit.

Proserpina (842 posts)
6. go peddle your shock somewhere else

This is what those who are concerned about economics are thinking. It doesn't really matter what IS, it matters what is perceived. We educate ourselves by studying what those in a position to influence the debate are saying, and then work out the counter-argument.

You want to stir up shit, go back to the Hillary group. There you can talk about how Hillary is like your abuela. NOT.

[Proserpina]

8. You have NEVER posted in this group before--you have no concept of why it exists

and you are going to tell ME my business?

If the fact of how many people are on food stamps is of no use to you, then you have no interest in the subject (ECONOMY). You can bugger off, or you can stay and learn something.

We don't clutch pearls here.

[MADem]

9. Says the poster who has been a DUer for a month and a half....or is this a new personality of an

old member?


How would you know how much, or where, I post?

Hmmmm? Do tell.

Proserpina (842 posts)
8. You have NEVER posted in this group before--you have no concept of why it exists

and you are going to tell ME my business?

If the fact of how many people are on food stamps is of no use to you, then you have no interest in the subject (ECONOMY). You can bugger off, or you can stay and learn something.

We don't clutch pearls here.

[bananas]

10. Jury voted 3-4 to LEAVE IT.

1:21 AM
Automated Message
AUTOMATED MESSAGE: Results of your Jury Service
Mail Message
On Thu Dec 24, 2015, 04:15 AM an alert was sent on the following post:

go peddle your shock somewhere else
http://www.democraticunderground.com/?com=view_post&forum=1116&pid=74686

REASON FOR ALERT

This post is disruptive, hurtful, rude, insensitive, over-the-top, or otherwise inappropriate.

ALERTER'S COMMENTS

This is not about "Hillary." This is about lying about the status of working poor people who use the SNAP program. This poster is using a right wing web page to promulgate falsehoods about those "lazy" people who "don't work" and use food stamps. This is right wing Reaganesque philosophies that have no place here at DU--no matter which candidate you support. Sanders wants a fifteen dollar minimum--that would get a lot of WORKING poor off the SNAP program. But this brand new DUer is saying that it's all about the Welfare Queens who "don't work" and that SNAP needs to push jobs--most of the non-workers on SNAP are either elderly or disabled and they don't constitute a majority of those using the program. See post 5 above.

You served on a randomly-selected Jury of DU members which reviewed this post. The review was completed at Thu Dec 24, 2015, 04:21 AM, and the Jury voted 3-4 to LEAVE IT.

Juror #1 voted to HIDE IT
Explanation: No explanation given
Juror #2 voted to HIDE IT
Explanation: No explanation given
Juror #3 voted to HIDE IT
Explanation: free beacon is run by friggin' Bill Kristol's son-in-law. Its articles don't belong on DU and the other long time member was right to object
Juror #4 voted to LEAVE IT ALONE
Explanation: No explanation given
Juror #5 voted to LEAVE IT ALONE
Explanation: No explanation given
Juror #6 voted to LEAVE IT ALONE
Explanation: No explanation given
Juror #7 voted to LEAVE IT ALONE
Explanation: No explanation given

Thank you very much for participating in our Jury system, and we hope you will be able to participate again in the future.

[Proserpina]

11. Thank you, and thanks to the jury.

[DemReadingDU]

22. Thank you

[Hugin]

13. The first two sentences are a spot on reply, Proserpina.

Since our adversaries insist on using half-truths to give their blathering spin the ring of actual analysis and also work very hard to occlude any primary sources of data from being heard, sometimes we here in the Economy Group must wade into Slimy Waters.

This is not LBN. We don't censor by source here. (In all honesty, we can't.) We use our faith in critical thinking skills to know correct from bilge and agenda.

I've read the post and the original article leading to this exchange and you did an admirable job extracting the few facts from the dementia inducing deluge of bullshit that made up the balance of that tripe. Good editing!

American Enterprise Institute... :brr:

The rest of this reply is a little prickly, however. You must learn to meter out your venom, young Scorpion!

We also encourage the spirit of discussion here.

[Hugin]

18. Thanks for the well researched discussion of sourcing, MADem.

I blame myself in part for this occurrence. I have been lax in emphasizing the sourcing policies of the SMW and the Economy Group. Also, I have neglected to foster the idea of open discussion among participants. I have seen much of the actual enemy and it is not anyone here. We need real discussion, not what is seen on the MSM, to achieve growth and change.

Your post outlines the grave concern many of us have about the vast numbers of people in this country who are being punished and discriminated against for no other reason than the fact they were born into families with limited resources and no clear path to a different life. Those doing the punishing are the worst form of bigot and are more often than not also hypocrites.

So, I'm sorry about this misunderstanding.

The slap fight which occurred on subsequent posts was unnecessary. Behavior such as this helps no one.

[MADem]

25. Facts matter to me, is all.

To put forth an utter falsehood--that most people on SNAP are layabouts, in essence--and to use a right wing source to do it, on a PROGRESSIVE/LIBERAL board, no less, is just a bridge too far to me. Facts matter. You can't get to the truth if you're basing an argument on wingnut lies from the Free Beacon!

I'm ok, though--I'm used to getting shade.

[shenmue]

28. Sigh

Ceiling Cat bless u.

[Hotler]

12. Dear lurkers and trolls,

you are welcome to come in here and read, learn and look around. Don't be telling us who or what we can cite, we will cite the Onion if need be. If you want to sling shit go do it in GD (aka Jonestown) or the Primaries page.

Have a nice day.

[Hugin]

14. +1

Thanks for getting it.

[MattSh]

15. How true...

Officially, there are 12 responses, but I only see 5. The rest must be on my ignore list. I don't think I've ever seen that here in SMW, I've always seen every response, which means there are a lot of people posting here today who have not posted in a very long time, if ever.

But hey, if people really understood what was going on with the economy, Hillary's numbers would suffer, which means this might just be the beginning. Truth, not Bernie, not Trump, is Hillary's biggest enemy.

[Fuddnik]

17. It's just like every morning.

The fill up GD and GD-P with their Sanders attacks and Lady Macbeth puff pieces and polls. They coordinate and get their normal 35 or so recs, and then they drop like a stone into the dumpster. Now they're looking for fresh meat. Looks like I found another that should have been on my ignore list for a long time.

[antigop]

20. THIS!!!!! (hope I'm not on your ignore list, so you see this post). nt

[MattSh]

21. I see this just fine...

About 80% of my ignore list came around the time of the Ukraine "revolution".

[DemReadingDU]

23. Orlov's latest posting is about the Ukraine

12/22/15 On the 19th day of Christmas...
5 stages of collapse ongoing in the Ukraine
http://cluborlov.blogspot.com/2015/12/on-19th-day-of-christmas.html


A rather frightening read, especially the part about the nuclear reactors losing supply of electricity.

[Proserpina]

24. I saw that--frightening is too mild for it

I didn't want to post it, as I had doubts as to the interest in it here, and as for the rest of DU, that might as well be nuclear waste already.

[Gloria]

27. Er, things are not great in Japan either...lots of protests about reopening 3 plants...

not to mention the fact that the radioactive levels in the Pacific along the West Coast indicate that the stuff that dropped into the sea has finally traveled across...

[Fuddnik]

16. It was only a matter of time before the Thought Police found us proles.

They should go back over to their Junior Anti-Sex League site and stay there.

[Hugin]

19. This is exactly why I live at the end of a quarter mile long dead end dirt road.

Nobody ever ends up at my house by "accident".

Usually, they're bringing me something that rhymes with rubble.

[shenmue]

29. Wow

Hmmm.

[Gloria]

26. Hope the market tanks early in 2016 so I can buy low and make some $$

and then things can limp along toward November...

and not result in a GOP win based on FEAR and economic woes....

And if anybody thinks Sanders has the answers, then that is being suckered into THAT jive...

"If you hold onto things you believed 15 years ago, then you're a joke, you're a fossil"....
"You have have a responsibility as a thinking person to re-visit the things you have thought...otherwise, you are not a thinking person."
Malcolm Gladwell, today on Bloomberg's Studio 1.0 interview...


Wanna hear about a real change to the system that can be tinkered with? It's about how to pay labor, community organizations, local banks/credit unions, no FED...probably would work in tandem in developed countries with the current fiat systems, but would be a possible stand alone system in smaller, undeveloped or rebuilding countries...

http://www.wallstreetwindow.com/node/12549
Mike Swanson
Podcast - Charles Hugh Smith On The Future of Currencies and his New Book A Radically Beneficial World - Mike Swanson (12/22/2015)

"I had the honor to do this podcast with Charles Hugh Smith who runs the popular blog www.oftwominds.com about his new book A Radically Beneficial World.

Charles is a thinker who explores the reasons for the breakdown in our world system that is resulting in a stagnating economy and growing debts. In this book he also looks at a new future that could come as a result of it. He explains why the nature of the currency we use and how it is created is central.

I just finished reading this book and it's a good one."

Our system is screwed up, but Sanders' ranting is full of crap....reference, Gladwell...