Varoufakis said that Schäuble, Germany’s finance minister and the architect of the deals Greece signed in 2010 and 2012, was “consistent throughout”. “His view was ‘I’m not discussing the program – this was accepted by the previous [Greek] government and we can’t possibly allow an election to change anything. “So at that point I said … Read more
Readers of this site don’t need me to tell you, but the following statistics from the Wall Street Journal prove that despite record stock prices and non-stop propaganda, fewer and fewer people are believing the hype. We learn that: On a benchmark measure of Americans’ unease, 65% of those surveyed said the country is on … Read more
There’s nothing quite like a grotesquely lopsided “economic recovery” in which a handful of cities boom, while the rest of the nation stagnates. Even worse, millennials living in such chosen cities face one of two options. Either live in mom and dad’s basement, or face a standard of living far more similar to 19th tenement standards than the late … Read more
I think the following comments will come back to haunt Jamie Dimon. They represent the perspective of an out of touch, financial oligarch who is so consistently fed bullshit compliments by all those surrounding him, he has no idea how badly this will backfire in the long-run. What Jamie Dimon doesn’t understand, is that people still … Read more
If you want to see how completely disconnected Hillary Clinton is from the “everyday Americans” she claims to represent, you need to look no further than her recent campaign invitation to a Boston fundraiser where attendees are asked to shell out $2,700 per person for a “ticket.” It was only just yesterday that I highlighted a … Read more
It’s always nice to be reminded of how far we’ve come since the dark days of 2008/09 ,when American plebs involuntarily bailed out the oligarchy generally, and Wall Street specifically, to the tune of trillions. Sure, all the gains went to the 0.001%, but the wounds have healed, and we’re in the midst of a … Read more
Over the past couple of months, I’ve launched a series of posts titled either “Hilary Clinton Exposed” or “Jeb Bush Exposed,” in order to call attention to the deplorable and embarrassing fact that the American citizenry is being set up to choose between two awful candidates, both from dynastic and corrupt political families. One thing … Read more
Leon Black’s Apollo Global Management LLC, Carlyle Group LP and a unit of Credit Suisse Group AG have all taken steps in the past two months to create CLOs now that they may be able to refinance after the rules take effect in December 2016 without having to comply with the new regulations, according to … Read more
Rather than buying equity interests in buildings, TIAA-CREF and KTCU are seeking to invest in mortgages backed by office towers, retail properties, warehouses and apartments in major U.S. cities. The venture between the two companies, which manage teachers’ savings in their respective countries, is 51 percent owned by TIAA-CREF and 49 percent held by Seoul-based … Read more
What has been occurring over the past several years is not a recovery, rather, it’s a painful transition of the U.S. into a neo-feudal society. Earlier this week in the post, Welcome to the Recovery – U.S. Child Homelessness Hits Record as Poverty in Mass. is Highest Since 1960, I wrote: While the general population is … Read more