Note: I’m here in San Diego County in my new/old 39 foot Chevy Motorhome. I can’t get a signal for my Verizon LG smartphone (I’ll be taking a spin in my Ford Explorer in search of a signal; my VOIP phone, magicjack requiring a broadband connection, is currently not up except for voicemail). The radio reception is also limited which led me to ‘sample’ some limited AM offerings which included shallow sean hannity the hallmark of insanity, and ‘rush revere’ [limbaugh… he’s totally burned out (the consequence of his being ‘tired of carrying the water for the republican party’? - his own words), relegated now to authoring children’s illustrated books of a simplistic nature]. Shallow sean’s latest ‘crusade’ (beyond the same note/key obvious debacle of wobamacare) was defense of the indefensible mobster but friend of sean’s, donald trump (trump should be in jail). In defense of t_rump, he offers up the itsy-bitsy, teeny weeny wohlman skating rink project as evidence of t_rump’s contribution to NYC (too small for high new york priority given the magnitude of New York substantial problems, some largely the result of trumpish tastes, ie., solid gold trump tower fixtures, etc., that trump’s ‘pre-packaged bankrupcies’ seem to fail to touch, and which extravagance must be paid for by someone, but not him). Shallow sean’s excoriation of new york city never seems to link the obviousness of t_rump’s grandstanding responsibility for same. After all, someone ultimately has to pay for trump’s disproportionate non-value-added livin’ large. No talk of trump’s ingratiating bribe strategy for protection ( ie., retainer’s to law firms linked to state attorney generals, viz., {kimmelman} wolf and sampson, chris droney’s brother, his sister’s protection/corruption and quid pro quo from the federal bench, etc., and as well, protection of drug-money laundering through his now nominal only casinos … See, ie.,  .  Trump’s a fraud! I won’t be listening to ‘rush revere’ or shallow sean prospectively. They’re a waste of time and preposterous given their unbridled support of war criminals bush, cheney, etc., and the failed debacles they created, etc……



Philippine typhoon death toll could reach 10,000. (Romeo Ranoco/Reuters)

UPDATE: 'World's biggest storm' hits Philippines...

195 mph winds...

19ft waves...

REPORT: 1,000 bodies floating in one town...

Supertyphoon Haiyan Leaves Over 1,200 Dead: The "Massive Destruction" In Photos And Videos

 As reported yesterday, Typhoon Haiyan - potentially the strongest storm to ever make landfall, and stronger than Katrina and Sandy combined - has come and left the Philippines (currently heading for Vietnam), and now the time has come to evaluate the damage and count the dead. Sadly, as Reuters reports, the devastation is absolutely massive and especially in the hardest hit city of Tacloban in the central Leyte province, may match the aftermath of the Fukushima tsunami: "This is destruction on a massive scale. There are cars thrown like tumbleweed and the streets are strewn with debris." Airport manager Efren Nagrama, 47, said water levels rose up to four metres (13 ft) in the airport. "It was like a tsunami. We escaped through the windows and I held on to a pole for about an hour as rain, seawater and wind swept through the airport. Some of my staff survived by clinging to trees. I prayed hard all throughout until the water subsided."



3 Warning Signs Of A Potential Bloodbath Ahead

The Bad Breath of the Eurozone “Recovery”

We’re In The Most Dangerous Moment Since the Cuban Missile Crisis


As BitCoin Touches $400 The Senate Starts Seeking Answers... As Does The Fed

Submitted by Tyler Durden on 11/09/2013 -Moments ago BitCoin hit $395, and will likely cross $400 in the immediate future.  So as more and more pile into the electronic currency, some due to ideological reasons, some simply to chase momentum, some out of disappointment with the manipulated gold price looking to park their savings in an alternative, non-fiat based currency, which a year ago traded 40 times lower, the attention of the government is finally starting to shift to what has been the best performing asset class in the past year, outperforming even the infamous Caracas stock market.

Which means one thing: Congressional hearings.


Chris Martenson Warns "There Is Nothing More Important Than Understanding This..."

Submitted by Tyler Durden on 11/09/2013 -

Having watched Mike Maloney's "Secrets Of Money" series (Part 1, Part 2, Part 3, and Part 4 here), Chris Martenson discusses the critical aspects of the must-watch episodes. Crucially, as we enter a period of apparent Nirvanic equity markets (and dystopian 'real' economics), Martenson's points on the "unnecessarily complex monetary system" that we have today are summed up by his statement that "there is nothing more important that understanding how our money system operates... and why it will fail us."


US Airspace To Crawl With 7,500 Drones In 5 Years

Submitted by Tyler Durden on 11/09/2013 - The chief of the Federal Aviation Administration predicted Thursday that U.S. airspace could be crowded with as many as 7,500 commercial drones within the next five years. As The Washington Times reports, Michael Huerta said his agency would set up six sites across the country to test drone operators and, in an effort to balance privacy/safety with anarchic airspace drone pollution, he added, "we must fulfill those obligations in a thoughtful, careful manner that ensures safety and promotes economic growth, " as dangerous incidents involving drones have already taken place... Although they are expected to be used for peaceful purposes such as firefighting and weather tracking - it's causing a lot of concern, as Huerta warns "we need to be responsive to public concerns about privacy."


Guest Post: Our Era’s Definitive Dynamic: Diminishing Returns

Submitted by Tyler Durden on 11/09/2013 - We all intuitively grasp the meaning of diminishing returns: Either it takes more effort to maintain a project’s payoff, or the payoff declines even though the effort invested remains constant. The key driver of diminishing returns is easy to understand. We naturally continue to do more of what was successful in the past. As the returns decline, we redouble our efforts, confident that what worked in the past will once again be successful if only we invest more labor, energy, and capital. However, the status quo's default diversion of 'money/credit' to support diminishing returns has two costs: the opportunity costs of what else did not get financed because available resources were poured down the rat hole of failing programs, and the largely hidden increase in systemic fragility as productive investments are starved by the diversion of resources to the rat holes of diminishing returns. This dynamic leads to the final phase of doing more of what has failed spectacularly.



The Unintended 'Economic' Consequences Of The NSA's 'Bulk' Spying

Submitted by Tyler Durden on 11/09/2013 - While the so-called "bulk spying" of the NSA is major privacy issue, Mises Media's Mark Thornton explains that the unintended consequences of this surveillance invasion has real economic implications...


Larry Kotlikoff Asks "Is Hyperinflation Around The Corner?

Submitted by Tyler Durden on 11/09/2013 - In his parting act, Federal Reserve Chairman Ben Bernanke has decided to continue printing some $85 billion per month (6% of GDP per year) and spend those dollars on government bonds and, in the process, keep interest rates low, stimulate investment, and reduce unemployment. Trouble is, interest rates have generally been rising, investment remains very low, and unemployment remains very high. As Lawrence Kotlikoff points out, echoing our perhaps more vociferous discussions, Bernanke’s dangerous policy hasn’t worked and should be ended. Since 2007 the Fed has increased the economy's basic supply of money (the monetary base) by a factor of four! That's enough to sustain, over a relatively short period of time, a four-fold increase in prices. Having prices rise that much over even three years would spell hyperinflation.




Submitted by Tyler Durden on 11/09/2013 - Last week, Citi's Tobias Levkovich raised numerous concerns about the state of exuberance and "disconcerting disconnects" that is our new normal market currently. In the week since, Citi's proprietary Panic/Euphoria model is sending a clear warning of substantial complacency - its most "euphoric" since 2008. This is worrisome, he notes, since there is an 80% probability of a market decline in the next 12 months based on the current reading.


Michael Pettis Cautions Abe (And Krugman): "Debt Matters"

Submitted by Tyler Durden on 11/09/2013 -

"Debt matters... even if it is possible to pretend for many years that it doesn't," is the painful truth that, author of "Avoiding The Fall", Michael Pettis offers for the current state of most western economies. Specifically, Pettis points out that Japan never really wrote down all or even most of its investment misallocation of the 1980s and simply rolled it forward in the form of rising government debt. For a long time it was able to service this growing debt burden by keeping interest rates very low as a response to very slow growth and by effectively capitalizing interest payments, but, as Kyle Bass has previously warned, if Abenomics is 'successful', ironically, it will no longer be able to play this game. Unless Japan moves quickly to pay down debt, perhaps by privatizing government assets, Abenomics, in that case, will be derailed by its own success.



Big Institutions Bet "All In" On Small Caps

Submitted by Tyler Durden on 11/09/2013 - To many institutional investors, buying the Russell 2000 is merely the highly levered bet with which the bulk of institutions (recall that almost all hedge funds, and a majority of mutual funds, are underperforming the S&P for a 5th consecutive year) seek to make up for losses in their portfolios by chasing high (and even higher with leverage) beta.  Which is why as the next chart below shows, in a furious scramble to catch up by year end, the institutional Russell net futures (i.e. levered) positioning just hit a record high: the biggest investors are now all-in the smallest names.  So is the massively overbought small cap sector due for a correction? With these manipulated, centrally-planned markets, nobody has any idea. However, for those who have once again bet all in, which just happens to be most plain vanilla dumb money, it may be time to reevaluate.



"We're Stuck In An Escher Economy Until The Existing Structure Collapses And Is Rebuilt On Stronger Principles"

Submitted by Tyler Durden on 11/09/2013 - 1. Even if the economy returns to full employment under existing policies, it won’t remain there after (and if) interest rates normalize.
2. Based on today’s debt and valuation levels (charts 8-9, for example), rising interest rates will have an even harsher effect than suggested by the 60 year history
3. Contrary to the establishment’s “sustainable recovery” narrative, the most plausible outcomes are: 1) interest rates normalize but this triggers another bust, or 2) interest rates remain abnormally low until we eventually experience the mother of all debt/currency crises.

We’re stuck in an Escher economy (see below), thanks to the impossibility of the establishment economic view, and this will remain the case until the existing structure collapses and is rebuilt on stronger policy principles.


Venezuela Government "Occupies" Electronics Retail Chain, Enforces "Fair" Prices

Submitted by Tyler Durden on 11/09/2013 - Venezuela's relatively new government has adopted arguably the best and brightest socialist policy wielded by both Hollande and Obama, namely the "fairness doctrine." However, in this case it is not about what is a "fair" tax for the wealthy (as taxes in Venezuela's socialist paradise will hardly do much to build up the desperately needed foreign currency reserves), but what is a "fair" price for electronic appliances like flat screen TVs, toasters, and ACs. The result is that Maduro's government now determines what equilibrium pricing should be. The reason for this latest socialist victory over the tyranny of supply and demand is that overnight Venezuela's President Nicolas Maduro ordered the "occupation" of a chain of electronic goods stores in a crackdown on what the socialist government views as price-gouging hobbling the country's economy. Various managers of the five-store, 500-employee Daka chain have been arrested, and the company will now be forced to sell products at "fair prices," Maduro said late on Friday.


The United States Has More People In Jail Than High School Teachers And Engineers

Submitted by Tyler Durden on 11/08/2013 - America has become a gigantic gulag over the past few decades and most of its citizens don’t know, or just don’t care. One of the primary causes of the over incarceration in the U.S. is the absurd, tragic failure that is the “war on drugs”, and indeed nearly half of the folks in prison are there for drug related offenses. Making matters worse is a rapidly growing private prison system, which adds a profit motive to the equation. Recently, we wrote an extensive rant against the private prison system and provided details on how it works in:  A Deep Look into the Shady World of the Private Prison Industry. Now here are some of the sad facts...



The Anatomy Of A Pre-Crash Bubble

Submitted by Tyler Durden on 11/08/2013 - 21:29

We previously highlighted Didier Sornette's excellent work trying to identify pre-crash conditions in financial markets and John Hussman's chart below suggests we are indeed heading that way. His warning, however, "Don't rely on further blow-off - but don't be shocked - risk dominates... Hold Tight."



Peter Schiff On Janet Yellen's Mission Impossible

Submitted by Tyler Durden on 11/08/2013 - 21:01

Most market watchers expect that Janet Yellen will grapple with two major tasks once she takes the helm at the Federal Reserve in 2014: deciding on the appropriate timing and intensity of the Fed's quantitative easing taper strategy, and unwinding the Fed's enormous $4 trillion balance sheet (without creating huge losses in the value of its portfolio). In reality both assignments are far more difficult than just about anyone understands or admits.



Alex Jones: State of the World Broadcast

Infowars | We have received massive feedback from our listeners and viewers telling us that this was one of Alex’s best broadcasts to date.


Las Vegas Installs “Intellistreets” Light Fixtures Capable Of Recording Conversations

Mikael Thalen | The Public Works Department claims they have no plans to use the system’s surveillance cameras… for now.


Armed Family Frees Abducted Woman from Violent Kidnapper

Adan Salazar | Family’s descent on kidnapper “like a movie unfolding.”


Chinese troops will have boots on the ground in Hawaii on Tuesday

Canada Free Press | “Simulating humanitarian assistance and disaster relief to a fictional third country”.


The United States Has More People In Jail Than High School Teachers And Engineers

Liberty Blitzkrieg blog | America has become a gigantic gulag over the past few decades and most of its citizens don’t know, or just don’t care.


Seniors lose insurance and doctors under Obamacare

Daily Caller | Overall, the Affordable Care Act slashes Medicare Advantage funding by $156 in ten years.


Obamacare’s Biggest Failure So Far: Just 18% Of Uninsured Have Expressed An Interest In Enrolling

Zero Hedge | A tiny 18% of uninsured Americans – the primary target population for the exchanges – have so far attempted to even visit an exchange website.


Kim Kardashian in Twitter Rant: I am Not Part Of The Illuminati

UK Daily Mail | “What is the illuminate? A religion?…I’m a Christian.”


Anti-Tax Revolt Spreads in France

NewsMax | “People struggle to pay their bills at the end of the month, and now we’re going to ecotax them,” one protester claimed.


74% Want to Audit the Federal Reserve

Rasmussen Reports | Americans still overwhelmingly favor a public audit of the Federal Reserve.


Employers add 204,000 jobs in October; unemployment rate rises to 7.3%

L.A. Times | News on wages is even less encouraging.

Las Vegas Installs “Intellistreets” Light Fixtures Capable Of Recording Conversations

Mikael Thalen | The Public Works Department claims they have no plans to use the system’s surveillance cameras… for now.


Seniors lose insurance and doctors under Obamacare

Daily Caller | Overall, the Affordable Care Act slashes Medicare Advantage funding by $156 in ten years.


Democrats Spin Obama’s Debunked Promise

Washington Free Beacon | Loyal Democrats have continued their attempts to spin his statement in television interviews.


Obamacare’s Biggest Failure So Far: Just 18% Of Uninsured Have Expressed An Interest In Enrolling

Zero Hedge | A tiny 18% of uninsured Americans – the primary target population for the exchanges – have so far attempted to even visit an exchange website.


GOP preps ‘Keep Your Plan’ bill after Obama health care apology

The Washington Times | The chamber plans to vote on the “Keep Your Health Plan Act” next week.


The United States Has More People In Jail Than High School Teachers And Engineers

Liberty Blitzkrieg blog | America has become a gigantic gulag over the past few decades and most of its citizens don’t know, or just don’t care.


Why | Ron Paul has a new website.


Senate panel approves beefed-up oversight of drone attacks

Reuters | The Senate Intelligence Committee has quietly approved a plan to step up both public and internal government oversight of the use of armed drones.


E-mail From Anyone Opposing Late-Term Abortions Is Sexist

Kit Daniels | Organizing For Action refers to proposed late-term abortion ban as latest in “anti-women strategy.”


Another Obamacare surprise: Major hospitals all across the country not included

Natural News | Obamacare exchanges fail to explain which hospitals are included as ‘in-network’.


Govt. Workers’ Unemployment Rate 66 Percent Better Than National Unemployment Rate | The unemployment rate increased in October compared to September, when it was 3.9 percent, but improved overall since its peak in 2013 when it stood at 5.3 percent in July.


623,000 Full Time Jobs Lost Last Month

Zero Hedge | So much for the surge in 691,000 full-time jobs in September.


Whopping 932,000 Americans Drop Out Of Labor Force In October

Zero Hedge | The only two charts that matter from today’s distroted nonfarm payrolls report.


World Powers Split on Iran Nuke Deal...
Half-built reactor sticking point...
Rohani urges not to miss 'exceptional opportunity'...
Talks Strain Mideast Alliances...
Egypt looks to Russia as US ties fray...


COPS: Woman Tortured In Front Of 2 Young Children During Home Invasion...

SHOCK: 4 Thieves Charged With Cutting Off Marijuana Dispensary Owner's Penis...

REPORT: 52 million Americans have lost or will lose health insurance...

'This is what betrayal looks like'...

FLASHBACK 2010: Obama Admits Millions 'Might Have to Change Coverage'...

Blame game as insurers dump doctors...

The fall fashion piece, courtesy of your favorite feline pet.