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Mike Whitney – Markets Gone Mad

Imagine your doctor put you on a daily dose of oxycontin, phenobarbital and Quaaludes for six years straight. Then he suddenly cancelled your prescription. Do you think your behavior might become a bit erratic? This is what’s going on with the stock market. It’s trying to shake off six years of overmedication brought on by the Fed’s zero rates and …

Banks Closed in Greece, China Stock Market Effectively Shuttered, Commodities Plunging: Is the 2008 Crisis Back With a Vengeance? By Pam Martens and Russ Martens

It’s starting to feel like we never actually emerged from the 2008 crisis: the U.S. government and the Federal Reserve simply threw $13 trillion at the crisis and walked away, hoping that an endless zero-interest-rate-policy (Zirp) would patch over the cracks in the global financial system. What we seem to have now is an endless series of rolling crises instead of one …