India unveils budget for growth

‘India is about to take off,’ finance minister says, as he announces plans to slow pace of cutting deficit and to boost investment

The Indian finance minister, Arun Jaitley, has announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit.

Jaitley, delivering his first full-year budget since Prime Minister Narendra Modi’s landslide election victory last May, said growth would accelerate to between 8 and 8.5% in the fiscal year starting in April.

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10 Reasons Washington Has War Fever

Submitted by Ron Holland via The Daily Bell,

“War is merely the continuation of policy by other means.” – Carl von Clausewitz

The political elites, Federal Reserve and special interests that really run the show hiding behind Congress and the president of either party in America's closed two-party monopoly seem to be running scared in many regards. They rightly have many fears for their political future as well as the profits and survival of the major international corporations and banking interests that support the current political leadership and regime.

Never has our nation, corporations and wealthy top 1% faced so many new threats to their efforts to grow their power and wealth around the world. Although there is enough blame and mistakes to go around, many of these threats can not really be blamed on our political or financial leaders but rather result from changes in the fast-paced world we live in today.

Conspiracy theorists prefer to see the world in black and white with no gray areas and keep it simple by criticizing secret groups or powerful interests for every problem but I believe the real situation is far more complicated. But everyone should realize the free America we grew up in has been long dead and buried with only the institutions and slogans remaining to lull the dumbed down public into apathy and acceptance. Our leaders are not omnipotent and certainly do not have all the answers and I suggest they have few answers and are actually making everything up as they go along, hence why I fear they will ultimately choose war as a solution to their problems.

Our America Does Not Exist Any More

Of course, conspiracies exist and thanks to Edward Snowden's publicity, America does indeed operate a global police state with intelligence gathering, torture and spying everywhere in the world. While I believe this effort is more directed toward controlling foreign and domestic politicians and powerful individuals than targeting helpless Americans who disagree with policies, this is a frightening situation for what once was the symbol of freedom and liberty for the entire world.

But as Dorothy told her dog, Toto, in the classic “Wizard of Oz” movie, “I've a feeling we're not in Kansas anymore,” we're also not in the America of our Founding Fathers any more, either. Real capitalism and free markets simply do not exist any longer. A few powerful interests manipulate all markets, unlimited fiat money is a profitable franchise and we are attempting to police and control the entire world to maintain our leadership position held since the end of World War Two.

Today you are a fool to trust what the government or press claims is true, fair and balanced, as it's all just propaganda. Regulatory organizations exist only to protect the favored industries not the public, our legal system is a joke and all wars fought for democracy against evil are just looting expeditions against other nations out for profits, gain and natural resources.

All governments issue propaganda and mainstream news organizations sell the secret agendas and policies to the people. But the world today and especially the United States faces new challenges not even war-gamed or focus-grouped a few years ago and here lies the problem and risks for the nation and citizenry.

War May Be the Only Solution Left For Our Political Elites To Survive & Prosper

As Clausewitz so clearly stated, “War is merely the continuation of policy by other means,” and our leadership and the special interests behind them want to continue the policies and actions that have created so much wealth and world power for them. Think for a moment about the threats they are facing at home and abroad and how a major but limited war could solve or postpone most of their problems and threats to their powerbase.

There are two problems with the war solution. First, while it may be in their best interest to guarantee their survival, war would be bad for our military, soldiers and civilians as well as our economy, private wealth and remaining liberties. Second, there is no guarantee that a real war once started would remain limited in nature. I think both world wars are historical examples of how plans for limited wars can turn into major wars killing tens of millions and all of this for power hungry politicians and vested economic interests. Remember this classic quote about war:

“No battle plan survives contact with the enemy.”

The Net Neutrality Debate Proves The Opinions Are Far From Informed

Via Mark St.Cyr,

As many of you know the FCC approved what is now considered the greatest change in the fundamental underpinnings of how the internet will be both used as well as “allowed” to be used. The regulation now known as Net Neutrality will supposedly make the internet more “fair” or “equal” to everyone. All I’ll ask you to ponder is this: How’s your cable bill working out for you?

There’s a lot of known and unknowns still to be had as we sit here today. Why? Regardless of what you’ve heard or seen written in the press about this regulation; no one, and I do mean, no one knows the details to this new and sweeping regulation.

The reported 330-ish paged regulation was held in a way resembling sealed documents from a court case. The only people who read it are those that wrote it, and voted it into law. We now have to wait and see just how much everything changes.

Every future or current business, entrepreneur, as well as individual that accesses the web will be effected. Along with what everyone now

Self-Aware? World’s Largest Hedge Fund Shifts Strategy To Artificial Intelligence

Despite warnings from the likes of Elon Musk and Stephen Hawking (and of course, Sarah Connor), Ray Dalio’s $165 billion AUM hedge fund Bridgewater will start a new, artificial-intelligence unit next month. Despite the “new normal”‘s total reversal of any and every historical rational trading pattern, the unit will attempt to create trading algorithms that make predictions based on historical data and statistical probabilities, as “machine learning is the new wave of investing for the next 20 years and the smart players are focusing on it.” Does this mean the talking heads of CNBC, with their ‘memes’, ‘myths’, and ‘mumbling’ rationales for it always being a good time to buy are now obsolete? Or did the market just become self-aware?

China And The Dragon Tail Of Marx

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

The dragon tail of Marx's end-game of overcapacity and finance capital is about to shred China's fantasy that the state can micro-manage both capitalism and financialization with no contradictions or consequences.

In “Paranormal” Europe, Banks Will Pay You To Borrow, And Charge You To Save

A month ago, we wrote about a bizarre situation involving Denmark’s now totally broken monetary system, where as a result of an unprecedented scramble to weaken the currency in order to preserve the peg to the Euro the central bank unleashed a historic rate-cutting scramble, where in 4 consecutive rate cuts its pushed the interest rate to an unheard of -0.75% (while at the same time being the first modern central bank to unveil what we dubbed “Bizarro Backdoor QE”). The culmination of this series of events was the surreal realization by some debtors that the bank would now pay them the interest on their new or existing mortgage.

The insanity was only compounded when one considers that in the vast majority of European countries, depositors are already (or will soon) pay for the “privilege” of providing banks with unsecured funds (in the US, JPM recently also started charging some customers – mostly corporate and hedge funds- for holding their deposits).

In short, this is what Europe has become: savers – those who diligently put away the fruits of their labor – are now forced to pay, using banks as an intermediary, and subsidize the the debtor: spenders, who live beyond their means, and who in increasingly more frequent situations are now paid to take out even more debt! Call it monetary socialism.

Which is probably why with a one month delay, none other than the NYT decided to cover precisely this topic with “In Europe, Bond Yields and Interest Rates Go Through the Looking Glass”

Here is the story in a nutshell, shown with pictures so even central bank idiots and other economist PhDs will get it:

A Denmark bank will pay Eva Christiansen, left, $1 a month for taking out a loan. Ida Mottelson’s bank will charge her to hold her money:

The key highlights from the NYT story:

At first, Eva Christiansen barely noticed the number. Her bank called to say that Ms. Christiansen, a 36-year-old entrepreneur here, had been approved for a small business loan. She whooped. She danced. A friend took pictures.