The Truman Show US Economy: Real GDP Numbers Show -9% Annualized Drop

FYI.


trumanshow

The Truman Show US Economy: Real GDP Numbers Show -9% Annualized Drop (Activist Post, May 31, 2014):

Watching all aspects of the US economy from outside of the propaganda zone sometimes feels like you are watching The Truman Show.

The Truman Show, for those who haven’t seen the 1998 Jim Carrey film, centered around a completely false town.  In the movie everything about the town was fake except for one person, Truman Burbank, who wasn’t in on the plot.  In a sense your average person in the US, particularly when it comes to the economy, is akin to Truman.  They have grown up inside this completely false environment and don’t even know it is all fake.

Virtually everything in The Truman Show-esque US economy is misinformation and completely skewed in which the creators, the US government, the Federal Reserve and the mainstream media constantly propagate blatantly false and wrong information and the American public, like Truman, have no idea that anything is even amiss.

The latest hilarious plot twist, at least for those of us watching it as observers and not intimately tied into the story, were the latest GDP numbers released showing a -1% annualized rate in the first quarter of this year.

Read moreThe Truman Show US Economy: Real GDP Numbers Show -9% Annualized Drop

Here Comes QE In Financial Drag: Draghi’s New ABCP Monetization Ploy

The Euro currency sign is seen in front of the European Central Bank (ECB) headquarters in Frankfurt

Here Comes QE In Financial Drag: Draghi’s New ABCP Monetization Ploy (David Stockman’s Contra Corner, May 30, 2014):

You can smell this one coming a mile away:

The European Central Bank and Bank of England on Friday outlined options to reinvigorate the market for bundled bank loans, which was “tarnished” by the global financial crisis, saying a better-functioning market for asset-backed securities can help boost lending to the private sector, particularly small businesses.

Yes, the ECB is now energetically trying to revive the a market for asset-backed commercial paper (ABCP) – the very kind of “toxic-waste” that allegedly nearly took down the financial system during the panic of September 2008. The ECB would have you believe that getting more “liquidity” into the bank loan market for such things as credit card advances, auto paper and small business loans will somehow cause Europe’s debt-besotted businesses and consumers to start borrowing again  thereby reversing the mild (and constructive) trend toward debt reduction that has caused euro area bank loans to decline by about 3% over the past year.

What they are really up to, however, is money-printing and snookering the German sound money camp. That is, the ECB is getting set to launch QE in financial drag by purchasing or discounting ABCP while loudly proclaiming that it’s not “monetizing” any stinking sovereign debt!

Read moreHere Comes QE In Financial Drag: Draghi’s New ABCP Monetization Ploy

Home Equity Loans Jump 8% As Broke American Serfs Scramble For Cash

Money

Home Equity Loans Jump 8% as Broke American Serfs Scramble for Cash (Liberty Blitzkrieg, May 31, 2014):

With real incomes stagnant and the cost of everything from food, school tuition and healthcare premiums skyrocketing for millions of Americans, it appears that borrowing against one’s home is once again a key source for consumption, if not survival, for the nearly extinct socio-economic demographic known as the middle-class.

The Wall Street Journal reported yesterday that home-equity lines of credit (Helocs) had increased at a 8% rate year-over-year in 1Q14. Some banks are more aggressive than others, and perhaps we shouldn’t be surprised to see TBTF government welfare baby Bank of America leading the charge, with $1.98 billion in Helocs in the first quarter, up 77% versus 1Q13.

Read moreHome Equity Loans Jump 8% As Broke American Serfs Scramble For Cash

Israel Deploys 3 Nuclear-Armed Subs Off Iran Coast; Iran Warns Of Forceful Response To ‘Evil Acts’

Flashback:

Netanyahu Orders Israel Army To Prepare For Possible Military Strike Against Iran In 2014


Israel Deploys 3 Nuclear-Armed Subs Off Iran Coast; Iran Warns Of Forceful Response To “Evil Acts” (ZeroHedge, May 31, 2014):

With tear-gas flying in the streets of Turkey, Ukraine’s civil-war raging in the south and east, US drones based in Japan to oversee the South China Sea, and Europe’s extremist parties gaining significant traction, today we get one more piece of considerably worrisome geopolitical news that global stock markets must ignore. The Sunday Times reports that Israel is to deploy three submarines equipped with nuclear cruise missiles in the Persian Gulf that are meant to act as a deterrent, gather intelligence and potentially to land Mossad agents. Iran is not happy, warning that “anyone who wishes to do an evil act in the Persian Gulf will receive a forceful response from us.”

Israel Deploys 3 Nuclear-Armed Subs Off Iran Coast

As Haaretz reports,

Israel is to deploy three submarines equipped with nuclear cruise missiles in the Persian Gulf, the Sunday Times reported on Sunday.

Read moreIsrael Deploys 3 Nuclear-Armed Subs Off Iran Coast; Iran Warns Of Forceful Response To ‘Evil Acts’

‘Squirming’ John Kerry Excused From Testifying On Benghazi Terror Attacks

Related info:

Pulitzer-Prize Winning Reporter Seymour Hersh: Benghazi Is A HUGE Scandal … But Not For The Reason You Think

Crony Congress: Rep. Mike Rogers Has Links To The Benghazi Scandal Yet Is In Charge Of The Investigation

Unclassified Navy Map Shows U.S. Military Had Multitude Of Forces In The Region During Benghazi Attack


‘Squirming’ John Kerry excused from testifying on Benghazi terror attacks (RT, May 31, 2014):

Republicans believe that President Barack Obama’s administration hushed up details of the Benghazi tragedy to protect his re-election campaign. Democrats accuse the Republicans of spinning the investigation to score political points ahead of the November mid-term elections.

The game of partisan politics, meanwhile, continues as the Republicans accuse the Democrats of stonewalling a proper investigation into the events of the attack, which include the release of communications and other documents related to the event.

“In attempting to cover up documents like the September-14 email from Deputy National Security Advisor Ben Rhodes, President Obama, Secretary Kerry, and other officials have no one but themselves to blame for the increased scrutiny they should soon expect,” Issa said.

Read more‘Squirming’ John Kerry Excused From Testifying On Benghazi Terror Attacks

​Up To 80,000 Palestinians In East Jerusalem Left Without Tap Water For Three Months

netanyahu-not-wrong-just-evil

​Up to 80,000 Palestinians in East Jerusalem left without tap water for three months (RT, May 31, 2014):

Tens of thousands of Palestinian residents in East Jerusalem have spent three months without running water, despite petitions and calls from human rights bodies after an Israeli water utility company stopped supplies in March.

Hagihon, Jerusalem’s water utility company, stopped regular supplies of running water to several neighborhoods in occupied East Jerusalem, such as Shu’fat Refugee Camp, Ras Khamis, Ras Sh’hadeh and Dahiyat a-Salam, said a statement from the website of B’Tselem, the Israeli Information Center for Human Rights in the Occupied Territories.

Read more​Up To 80,000 Palestinians In East Jerusalem Left Without Tap Water For Three Months

Billionaire Investor Carl Icahn Investigated In U.S. Insider Trading Probe

Icahn, Mickelson are investigated in U.S. insider trading probe: source (Reuters, May 31, 2014):

The U.S. Federal Bureau of Investigation and the Securities and Exchange Commission are investigating possible insider trading involving billionaire investor Carl Icahn, golfer Phil Mickelson and Las Vegas gambler William Walters, a source familiar with the matter said.

Federal investigators are looking into whether Mickelson and Walters may have traded illegally on private information provided by Icahn about his investments in public corporations, the source told Reuters, confirming reports on Friday.

Read moreBillionaire Investor Carl Icahn Investigated In U.S. Insider Trading Probe

LAPD Acquires Drone Capability

Draganflyer X6

LAPD acquires drone capability (RT, May 31, 2014):

For a city infamous for circling police helicopters, Los Angeles Police were surprisingly late to the drone game. All that has changed, however, as the department quietly added two unmanned aerial vehicles (UAV) to its arsenal.

The Los Angeles Police Department (LAPD) announced they had acquired two Draganflyer X6 aircraft as “gifts” from the Seattle Police, the department said on Friday.

“These vehicles were purchased by the Seattle Police Department using federal grants. There was no cost to the city of Los Angeles,” CBS Los Angeles cites police as saying.

The 3.5-lbs. UAV, which looks like a small helicopter, is about three-feet-wide and boasts a camera, video recorder and infrared night-vision capabilities.

Read moreLAPD Acquires Drone Capability