[B]Interesting perspective from famed billionaire investor, Jim Rogers…[/B]
[B]Mr. Bernanke Wants To Get Out Before The Problems Really Erupt[/B]
“Mr. Bernanke has said that he is going to keep interest rates down until 2015 at least. Now Mr. Bernanke also seems to be indicating he is going to leave when his term is up in 2014. I suspect he will leave because he does not want to be around when the problem really hits. What he is doing is madness, what most central banks are doing is madness and I am sure Mr. Bernanke wants to get out before the problems really erupt next year or a year after. This is not going to be fun.” - in Economic Times
[B]Or how about this (courtesy of Sy Harding’s newsletter–his free stuff)…[/B]
"This week the Federal Reserve of St. Louis released a report estimating that Americans on average have recovered only 45% of the wealth they lost during the recession and bear market in stocks. The report notes that much of the recovery in ‘overall’ wealth is thanks to the stock market’s recovery to its previous peaks, and thus is concentrated in the holdings of wealthy families. The report concludes that, “Considering the uneven recovery of wealth across households, claims that the financial damage of the crisis and recession has largely been repaired are not justified.”
Real estate tracking service Zillow reported last week that 25.4% of U.S. home-owners with a mortgage are still ‘underwater’ on their mortgages. That’s five years into the recovery from the 2008 financial meltdown, and on top of the millions who outright lost their homes to foreclosure or already sold at large losses.
[B]But news is not bad for everyone.[/B]
This week the Federal Deposit Insurance Corp (FDIC) reported that U.S. banks posted an all-time record $40.3 billion profit for the first three months of this year. The results topped the previous record set in 2007, prior to the 2008 financial meltdown.
[B]So, the folks that brought us the financial crisis in the first place, and had to be bailed out by tax-payers, have not seen their profits merely recover to some degree, but are making record profits, while according the Fed report Americans on average have recovered only 45% of the wealth they lost, and according to Zillow 25.4% of home-owners with a mortgage are still ‘underwater’."[/B]
[B]Don’t worry. Be happy. The Government will fix everything. They’ll make it right. I just know they will. Now if you’ll excuse me I need to go take my pills. [/B]
Rule of the people and not the police state.[/QUOTE]
Quote from a Turkish dude about that situation.
"To keep it very short:
Think of Obama himself decides to give whole Central Park, NY to one of his fund raisers to build a shopping mall on it.
Think there are no court or judge to decide against this, because non partisan judges fired from their positions with false accusations like personal alcohol problems already over three years.
It’ not as big as the Central Park, but Taksim Gezi Parki is one of very few open areas in the hearth of city and it is unthinkable to build a shopping mall there.
Protests against this project fired this situation.
And no, this is not some “Occupy Wall Street” kinda thing, this is against the ruling (shamelessly open ROP er more and more every day) government, some of the protesters looks and may be leftist or hippies, but some of them are from Istanbul’s three football hooligan groups (it is interesting to see them not fighting each other), and majority of them are basically every other people who doesn’t support ROP - party policies.
And no, nothing will come out of it, ROP party is controlling the whole media shamelessly, there wasn’t a hint of news about this in any mainstream media for a whole day.
This only proves that there are some brave and moral people in Istanbul and that’s about it. They’re minority."
Ouch! Here’s a pretty harsh critique of the Obama Administration, especially considering this is the Asia Times not the Tea Pot Daily
“…The entire moral edifice on which Obama built up his presidency and the values he espoused at the core of his “audacity of hope” when he began his long march to the White House five years ago - transparency, accountability, legitimacy, multilateralism, consensus - lie exposed today as a pack of lies…”
