Epstein Secrets

ice. No, we can't afford it, but just a decade ago we started shelling out $2.2 trillion for a war in Iraq born of fraud. We can't afford it, while Dick Cheney's old outfit Halliburton raked in $4o billion worth of contracts because of that war. We can't afford it, while the State Department doles out three b

aq born of fraud. We can't afford it, while Dick Cheney's old outfit Halliburton raked in $4o billion wor

he Cyprus deal fatally undermined depositor confidence, thus making bank runs in other countries more likely. Certainly Cyprus and its paymasters in the European Central Bank have broken a taboo of the common European currency by imposing controls on the flow of capital into and out of the country, albeit "temporarily."

the Middle Class, so why would you believe re-instituting them will end with different results. PEOPLE SHOULD NOT FORGET: "Reagan," Vice President Dick Cheney famously declared in 2002, "proved deficits don't matter" Unless, that is, a Democrat is in the White House. After all, while Ronald Reagan tripled

SHOULD NOT FORGET: "Reagan," Vice President Dick Cheney famously declared in 2002, "proved deficits don't

emanke understood the depths of the problem early and responded energetically and creatively. The clearest vindication of his actions has been that the European Central Bank, after charting the opposite course for three years with disastrous results, has adopted policies similar to the Fed's — and averted a potential Leh

hite House away from the radicalism of the first four years. During the 2004 campaign, Bush came close to jettisoning the two people—Vice-President Dick Cheney and Defense Secretary Donald Rumsfeld—most associated with extreme views of how to handle post-9/11 foreign affairs. After the election, Cheney sa

ck Cheney and Defense Secretary Donald Rumsfeld—most associated with extreme views of how to handle post-9/11 foreign affairs. After the election, Cheney saw the influence of his principal ideological opponents—Stephen Hadley, the new national-security adviser, and Condoleezza Rice, the new Secretary

at affordable rates. Meanwhile, their banks are hemorrhaging deposits. Up until now, broke banks could prop up broke governments by borrowing from the European Central Bank and using the cash to buy their governments' bonds. But that game is over. For there is nothing the ECB can do to stop panicky Spaniards swapping

that deficits didn't matter, and during the Bush/Cheney Administration there was almost universal silenc

uts and tax increases) self-defeating or the unavoidable response to high budget deficits and debt? Can central banks such as the Federal Reserve or the European Central Bank engineer recovery by holding short-term interest rates near zero and by buying massive amounts of bonds (so-called "quantitative easing")? Or will

rs rely on hedge funds, credit and real estate as complements to public and private equity. In past cycles, claims were a great market signal Paging Dick Cheney: Do Deficits Matter? Continuing claims asa % of labor force Deficit ex-interest, percentof GDP, seasonally adjusted 5.0% 8 45% 6 4.0% i 3.5% 0 3.0% -

es, claims were a great market signal Paging Dick Cheney: Do Deficits Matter? Continuing claims asa % of l

ancesca Tondi, March 15, 2012 The ECRI (Economic Cycle Research Institute) claims papal infallibility on its historical recession predictions. ECB = European Central Bank. EMU = European Economic and Monetary Union The material contained herein is intended as a general market commentary. Opinions expressed herein are