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Life and golf: Sometimes you're the divot. Sometimes you're the ball. Sometimes you're the golf club and sometimes, every so often, you're the hole in one.
- Darryl Robert Schoon


7/24/2014
IMF is latest to reduce US growth forecast


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7/24/2014
Banks face accounting-rule change to stop crisis fire sales
In the US, lobbyists are far more powerful than prudence as the US refused to participate in new accounting rules requiring companies to account for possible losses.  full article...
7/24/2014
Sales of new homes fell in June after large revision
Revised date shows the US real estate market is far worse than believed. June sales are 8% lower and now revised May sales are 12.1% lower. This recovery is headed for the morgue.  full article...
7/24/2014
French manufacturing contracts in a sign of sluggish recovery
This is like saying 'rapidly growing cancer is a sign of sluggish recovery'. The media again spins bad news as positive.  full article...
7/22/2014
Court rules Poland complicit in CIA secret rendition, detention and interrogation



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7/24/2014
Young Palestinians: Nowhere to run
Zionists use the Nazi playbook.


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7/24/2014
Draghi cedes euro control to Yellen on Fed rate wagers
Speculators have dismissed Draghi's attempts to lower the euro, betting instead that Yellen's Fed will raise interest rates.  full article...
7/24/2014
Greece sovereign debt at 174.1% of GDP in first quarter
Economist hope growing EU debt will shrink in 2015. It won't.  full article...
7/24/2014
Japan's bond-hugging banks are pinning Abe down
Abe is walking through a financial mine-field of his own making. The odds of making it through safely are not good.  full article...
7/24/2014
Japan trade deficit expands after exports unexpectedly drop
Japan's trade deficit was 27% larger than expected as exports fell and imports rose. Japanese fundamentals continue to deteriorate in spite of Abe's massive monetary stimulation.  full article...
7/24/2014
Japan lifts bar for green car subsidies with $30,000 off Toyotas
Big government and big business collude to promote Japanese hydrogen-fueled technology.  full article...
7/24/2014
China's debt soars to 250% of GDP
China's borrowing binge continues. Addicted to growth, China is not willing to risk social unrest for fiscal prudence.  full article...
7/24/2014
Why China hasn't seen more defaults
China's state capitalism enables a smoke and mirrors economy to appear more stable than it is.  full article...
7/24/2014
Wenzhou's real estate bringing down economic beacon
Companies that invested in Wenzhou's real estate bubble are in trouble after the bubble collapsed.  full article...
7/24/2014
CNPC continues to be hit by scandal as two more executives fall
Executives at China's state-owned oil company continue to be implicated in corruption probes. Once the trough of former political heavyweight Zhou Yongkang, his downfall has dragged CNPC executives with him.  full article...
7/24/2014
Chasing after China's high-profile criminals around the world
Since 2008, China has jailed 703 citizens who fled overseas after committing major financial crimes.  full article...
7/23/2014
SEC poised to $1 a chare for some money market funds
The US plans to withdraw its guarantee of money market funds. Whether or not it will do so during the next crisis isn't known.  full article...
7/23/2014
Jobs hold sway over Yellen and Carney as central banks set to split
Central banks are divided over how to respond to still struggling economies despite historic levels of money printing. There are no easy answers. In the end game, there are no answers.  full article...
7/23/2014
Fed worries about effects of its new interest rate tools on markets
The Fed's latest tool to exit its massive monetary stimulation isn't such a good idea after all. Who'd a thought. Not the Fed.  full article...
7/23/2014
IMF says Fed may have scope to keep interest rates low past mid-2015
The Fed may be able to keep interests low until mid-2015. What happens then is anybody's answer.  full article...
7/23/2014
IMF cuts US growth forecast to 1.7%
Hopes the US economy would achieve 'exit speed' to avoid a deflationary collapse in demand are fading. Who'd a thought. Not the IMF.  full article...
7/23/2014
NY Fed found serious problems at Deutsche Bank's US arms
This is only the latest in a series of negative news regarding the operation of the German bank.  full article...
7/23/2014
Investor homes sales on the decline



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7/23/2014
Eurozone customer unexpectedly falls in July
Economists expected better. They were wrong.  full article...
7/23/2014
UN: Israel may be guilty of war crimes in Gaza



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7/23/2014
Passengers disrupted by suspension of Tel Aviv flights
Israel's isolation grows.


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DARRYL ROBERT SCHOON: Inflation - Up, Up and Away
Inflation is a monetary phenomena that can destroy currencies and buying power in the blink of an eye. Economists' have temporarily forgotten about inflation as its equally dangerous twin, deflation is back. They shouldn't forget about inflation. They may be rudely reminded of its presence and soon. full article...


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Dollars & Sense, Show 84, Capitalism and the Age of Aquarius
The inspiration for this video is John Lennon's song, Imagine. It was also made in response to critical comments about Darryl Robert Schoon's use of the word capitalism. In this video he explains how he explains how he predicted the current economic crisis when mainstream economists did not.


 full article...


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Searching for Cynck: The $6 billion penny stock debacle, from Belize to Las Vegas
This is how Cynck, a company with no revenues, no assets and only one employee achieved a market valuation over $6 billion before collapsing. The Fed, another criminal enterprise, could learn something from Cynck. Worthy of thought and reflection.  

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The Real News: Dodd-Frank still not fully implemented four years later
Wall Street successfully resists fundamental change leaving the world at risk. Worthy of thought and reflection.


 

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El Erian: The long-term joblessness battle isn't over
Persistent joblessness is why central bankers are are worried. They should be. Capitalism has been permanently damaged as the bankers' credit can no longer create sufficient growth to pay what bankers are owed. Worthy of thought and reflection.  

full article...


The Daily Show: We need to talk about Israel




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Wine collector to be sentenced for $20 million wine fraud
Rudy Kurniawan, in 2007 was believed to own 'the greatest collection of wine on earth', used his reputation to sell relabeled wines as collector bottles. Unlike Wall Street bankers who relabeled subprime loans as AAA, Kruniawan is going to prison.  full article...
Israeli Americans torn over return



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Death row execution in Arizona goes awry



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'Across the Borderline' by Ry Cooder





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Dollars & Sense, Show 54, Money & Power: US, UK and Israel

In 1946, before Israel was a state, the Irgun, a right wing Jewish terrorist organization, attacked the Hotel David in Jerusalem headquarters of British forces. In 1967, Israeli warplanes attacked the USS Liberty. Neither the UK or US responded militarily. Why? Because money trumps power.



DRSCHOON.COM features the articles of Professor A. E. Fekete of the New Austrian School of Economics, a leading expert on gold and its role in financial markets and the economy.

The Wisdom of Adam Smith for Our Own Times

- A Rejoinder -

Let us celebrate the 291st birthday of the great Scottish economist together and let us rehabilitate his Real Bills Doctrine!

Richard Ebeling in the June 3rd issue of the Daily Bell under the same title contributed a much needed reminder of the relevance of Adam Smith's wisdom to our contemporary world. I am not going to speculate whether the omission of not mentioning Adam Smith's Real Bills Doctrine was accidental or deliberate. However, it is well known that post-Mises Austrian economists have taken a disdainful view of the Real Bills Doctrine and it would have been nice to have Ebeling's coherent articulation of their position. I can do no better than revisiting Adam Smith's great contribution to the theory of money and credit (which, significantly, received the nihil obstat of Carl Menger a hundred years later) for the benefit of the Daily Bell's readership. full article...

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