Zero Hedge Published Articles & Michael Covel Podcast Interview

 

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 Everything You Know About Markets Is Wrong?

 By Eric L. Prentis 

Published June 11, 2012 .

The financial elite - using academe for intellectual cover - want you to believe that markets are efficient, as defined by the Efficient Market Hypothesis or Theory (EMT). Neoliberal economic philosophy is based on the belief that neoclassical economic theory is correct. That is, that “markets are efficient”. Wall Street touts markets as trustworthy and infallible, but that faith is misplaced. Gullible US politicians believe that markets are efficient and defer to them. Therefore, US politicians abdicate their responsibility to manage the overall economy, and happily for them, receive Wall Street money. Mistakenly, the primary focus during the 2008 credit crisis is on fixing the financial markets (Wall Street banks) and not the “real economy.”

The financial elite are using this “cover-up and pray” policy—hoping that rekindled “animal spirits” will bring the economy back in time to save the status quo. This is impossible because the trust is gone. The same sociopaths control the economy. A Federal Reserve zero interest rate policy (ZIRP), causing malinvestment, and monetizing the national debt with quantitative easing (QE) by the Fed, and austerity for the 99% to repay bad bank loans has not worked—and doing more of the same will not work—and defines insanity.

US politicians mistakenly use EMT based economic theories to pass laws favorable to Wall Street. First causing and now worsening the credit crisis. Examples of credit crisis enabling legislation include:

  • Gramm–Leach–Bliley Financial Services Modernization Act of 1999
  • Commodity Futures Modernization Act of 2000
  • Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
  • Jumpstart Our Business Startups (JOBS) Act of 2012 

Please read the complete article, click: 

http://www.zerohedge.com/news/guest-post-everything-you-know-about-markets-wrong 

 

Zero Hedge

Why Washington’s Happy Talk Will Not Save The U.S. Economy 

By Eric L. Prentis 

Published August 4, 2013 

Wall Street bankers, Washington politicians, economists and the media trumpet a substantial rebound in the U.S. economy, in the second half of 2013 and beyond, as a result of the Federal Reserve’s continued and open ended use of $85 billion dollars a month in quantitative easing. Learn why this is wishful thinking.  Rather than do want is necessary to solve the ongoing 2008 credit crisis, those in power stoop to public relations tricks and propaganda. 

Please read the complete article, click: 

http://www.zerohedge.com/news/2013-08-04/why-washington%E2%80%99s-happy-talk-will-not-save-us-economy    

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Podcast Interview by Michael Covel:

Eric L. Prentis  is interviewed by Michael Covel.

Listen to the interesting and informative iTunes audio podcast interview, released July 26, 2012, entitled:

“Learn Why The Credit Crisis Is Ongoing—How Best to Get Us Out—and Why Politicians Refuse.”

The interviewer, Michael Covel, is a world-renowned stock trader. Michael is the bestselling author of four books on investing strategy. Michael’s company, Trend Following/Turtle Trader, has taught his successful system to over 6,000+ students, worldwide. 

Click: http://trendfollowing.libsyn.com/webpage/dr-eric-prentis-interview-trend-following-manifesto-with-michael-covel

[An iTunes’ download is free, select PC or Mac, and 32 bit or 64 bit software, depending on your computer’s requirements. Download takes only 5 minutes.]