Putin on the Fritz

Gas economies are not real economies in a bear market for oil....ya think?

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/12/18/the-latest-bad-news-for-putin-russias-banks-need-to-be-bailed-out-now/

Financial Crisis Revisited: The Old "Chicken with Its Head Cut Off" Routine

Southpark Episode is shockingly accurate:

Slaughtering the Sacred Cow: Chapter 9 and Pensions

In Ruling on California Town’s Bankruptcy, Judge Challenges Sanctity of Pensions (NYT)

http://nyti.ms/ZtJQDA

related article:

Nipping At the Sacred Cow: Major Cities Take On Pension Reform (Forbes)

http://onforb.es/10lZC3n

China: Is the Minsky Moment Upon Us?

http://www.zerohedge.com/news/2014-08-06/chinas-prelude-storm-record-private-bonds-mature

Janet Yellin: Betty Crocker Is My Hero

http://usaponzi.com/cooking-the-books.html

You can only  have your cake and eat it too for so long but with Betty Crocker as her role model Janet Yellin has concluded that if you have to cook the books it is better to have them fully baked than half baked.  Are we in the midst of the Frankenbubble?  Hard to say but with cash vs GAAP  the boys and girls at GAO are popping kishkas. They reckon we're basically bankrupt and it's only a matter of time. No biggie.  The Mother of All Cramdowns awaits and the pitchforks will be pointing in all directions.

Dollars at a Discount