Saturday, November 21, 2015

All is well; Pay no attention to the Federal Reserve behind the curtain
The world's central banks are out of ammo

"Magic trick turns into toxic mix.

Stocks have been on a tear to nowhere this year. Now investors are praying for a Santa rally to pull them out of the mire. They’re counting on desperate amounts of share buybacks that companies fund by loading up on debt. But the magic trick that had performed miracles over the past few years is backfiring."

Specialty drugs now cost more than the median household income

Verging on Plutocracy? Getting Real About the Unelected Dictatorship

“Plutocracy” seems almost mild to describe the rotten, dollar-drenched deep state of affairs. I am reminded of Marx’s phrase “the dictatorship of the bourgeoisie,” of Edward Herman and David Peterson’s notion that America is ruled by “an unelected dictatorship of money,” and of the late Sheldon Wolin’s notion that the United States was a “corporate-managed democracy” advancing a populace-demobilizing “inverted totalitarianism” of concentrated capitalist and imperial power.

...Wall Street is “the ultimate owner” of the “Deep State” that rules America beneath the more “visible” surface state and “marionette theater” of parliamentary politics and campaigns. This is because “it has the money to reward government operatives with a second career that is lucrative beyond the dreams of avarice— certainly beyond the dreams of a salaried government employee….