Submitted by Tyler Durden on 07/23/2015 - 07:07 "If in the short run, to paraphrase Benjamin Graham, equities are a voting machine, then it seems many of these votes are being coerced by interventionists.Central bankers the world over have become obsessed with asset prices, to the extent that the notion of central banks making outright purchases of equities is no longer confined to the lunatic fringe."
by Pam Martens and Russ Martens, Wall Street on Parade:
We truly pity the earnest stockbroker today. Imagine trying to have a
sensible conversation with your client about what’s going on in world
markets when almost nothing makes sense anymore.
It is an inherent underpinning of “free markets” that they must remain open for trading during regular market hours unless there is a catastrophic event like war or a terrorist attack. Even after the Tuesday, September 11, 2001 event when planes flew into two World Trade Center towers, leaving much of lower Manhattan covered in rubble and a jungle of tangled, destroyed electronic cables, the New York Stock Exchange reopened the following Monday.
But here we are with no war (other than a war of words) and no terrorist attack and yet Greece’s stock market has been closed for more than three weeks. China is officially reporting that it is experiencing 7 percent economic growth but 20 percent of its stocks on its stock exchanges remain halted from trading and commodity prices are collapsing, a further sign of a serious slowdown in the world’s largest raw-commodity consuming country.
Read More @ WallStreetonParade.com
We truly pity the earnest stockbroker today. Imagine trying to have a
sensible conversation with your client about what’s going on in world
markets when almost nothing makes sense anymore.It is an inherent underpinning of “free markets” that they must remain open for trading during regular market hours unless there is a catastrophic event like war or a terrorist attack. Even after the Tuesday, September 11, 2001 event when planes flew into two World Trade Center towers, leaving much of lower Manhattan covered in rubble and a jungle of tangled, destroyed electronic cables, the New York Stock Exchange reopened the following Monday.
But here we are with no war (other than a war of words) and no terrorist attack and yet Greece’s stock market has been closed for more than three weeks. China is officially reporting that it is experiencing 7 percent economic growth but 20 percent of its stocks on its stock exchanges remain halted from trading and commodity prices are collapsing, a further sign of a serious slowdown in the world’s largest raw-commodity consuming country.
Read More @ WallStreetonParade.com
JPY Slides After IMF Warns Debt Is "Unsustainable"
Submitted by Tyler Durden on 07/23/2015 - 09:11 It appears The IMF is willing to shake the boat of status quo, everything-is-awesome, once again. After proclaiming Greece is screwed and needs a haircut no matter what, the bank to save the world has unleashed a new report on Japan...*IMF SAYS JAPAN NEEDS DEEPER CUTS TO CURB ‘UNSUSTAINABLE’ DEBT, RISKS SURGE TO TRIPLE GDP WITHOUT CHANGE, IMF SAYS
*IMF: YEN MODERATELY WEAKER THAN IS CONSISTENT WITH FUNDAMENTALS
We assume Abe and Kuroda will disagree strongly, argue that they just need a little more devaluation and everything will be perfect. The slide in JPY suggests some more capital leaving their shores. It appears The IMF has read some of Kyle Bass' work.
from AMTV:
by Andrew Hoffman, Miles Franklin:
One of my job’s most interesting “perks” is the exposure I get to
“artistic impressions” of what I discuss clinically. From Pasha Roberts’
Silver Circle Movie – which, one day, may be a cult classic on a par with Atlas Shrugged; to Damian Bouch’s No Delight in Fools, an extremely entertaining fictional account of a post dollar crash world; to Fed Up by Robert Power – which I just read this week – I am continually awed by the vast array of skill sets Miles Franklin Blog readers possess. In Fed Up,
Power tells a fictional story of blackmail involving high powered
Federal Reserve traitors traders – involving gold, the PPT, and the
insanity of government attempts to manipulate markets. I highly
recommend all of the above, as well as numerous non-fictional books
written by pro-Precious Metals, anti-establishment authors from our
“shadow world” – like Dmitri Speck’s Gold Cartel; Carl Jarvis’ The United States of Dysfunction; and Gary Christenson’s Gold Value and Gold Prices. And above all, PLEASE read Atlas Shrugged when you can – in my view, one of the greatest books ever written!
OK, back to “business” – which sadly, involves the daily description of a global economy dying of fiat cancer; per last weekend’s Audioblog, has fostered an unprecedented environment of lies, propaganda, and stupidity.
Read More @ MilesFranklin.com
One of my job’s most interesting “perks” is the exposure I get to
“artistic impressions” of what I discuss clinically. From Pasha Roberts’
Silver Circle Movie – which, one day, may be a cult classic on a par with Atlas Shrugged; to Damian Bouch’s No Delight in Fools, an extremely entertaining fictional account of a post dollar crash world; to Fed Up by Robert Power – which I just read this week – I am continually awed by the vast array of skill sets Miles Franklin Blog readers possess. In Fed Up,
Power tells a fictional story of blackmail involving high powered
Federal Reserve traitors traders – involving gold, the PPT, and the
insanity of government attempts to manipulate markets. I highly
recommend all of the above, as well as numerous non-fictional books
written by pro-Precious Metals, anti-establishment authors from our
“shadow world” – like Dmitri Speck’s Gold Cartel; Carl Jarvis’ The United States of Dysfunction; and Gary Christenson’s Gold Value and Gold Prices. And above all, PLEASE read Atlas Shrugged when you can – in my view, one of the greatest books ever written!OK, back to “business” – which sadly, involves the daily description of a global economy dying of fiat cancer; per last weekend’s Audioblog, has fostered an unprecedented environment of lies, propaganda, and stupidity.
Read More @ MilesFranklin.com
from RT:
filed under (unt
A Morning Joe panel on MSNBC found it difficult to accept that Hillary
Clinton is unpopular and her poll numbers are upside down in crucial
swing states. Joe Scarborough and cohost Mika Brzezinski, the daughter
of arch globalist Zbigniew Brzezinski, reacted with incredulity.Scarborough said he figured Jeb Bush’s numbers are similar and expressed exasperation that “somebody like Donald Trump attacking politicians is actually getting support.” NBC correspondent Chuck Todd said if not for the establishment media coverage of Donald Trump, the story would be the Bernie Sanders “boomlet” and Hillary Clinton’s failure to solidify support within the Democrat party.
Todd added that whenever Clinton is presented as “the face of the Democratic party” her numbers have declined in the polls.
Read More @ Infowars.com
Why Most Companies "Beat" Earnings Expectations - Explained In One Chart
Submitted by Tyler Durden on 07/23/2015 - 09:03 When it comes to corporate earnings announcements, some two-thirds of the time companies beat consensus expectations. This happens both during good quarters and bad (such as this one). How is this possible? The following chart form Deutsche Bank explains it once and for all.
Initial Jobless Claims Plunge To Lowest Level In 42 Years
Submitted by Tyler Durden on 07/23/2015 - 08:37 Time for a rate hike?
from KingWorldNews:
Today’s big news was obviously the fact that Apple did not sell as many
phones as folks expected (more about that below). First, I would like
to note that Microsoft’s results were not that great, nor were Linear
Technology’s, Yahoo’s, or Caterpillar’s, to name a few. In fact, most
of the earnings reports thus far have not been all that spectacular and
the one that was celebrated the most, Google, was a function of cost
cutting, not revenue growth. (I’m leaving Netflix and Chipotle out
because I don’t think their results indicate that much about the
economy.)
The latest earnings season has clearly been no great shakes, and there have been a number of disappointments, but the tape has still been able to hold itself together. Thus, one of the things I wanted to see today was how the overall market responded to the disappointment from Apple, on top of the others we have seen.
Bill Fleckenstein continues @ KingWorldNews.com
Today’s big news was obviously the fact that Apple did not sell as many
phones as folks expected (more about that below). First, I would like
to note that Microsoft’s results were not that great, nor were Linear
Technology’s, Yahoo’s, or Caterpillar’s, to name a few. In fact, most
of the earnings reports thus far have not been all that spectacular and
the one that was celebrated the most, Google, was a function of cost
cutting, not revenue growth. (I’m leaving Netflix and Chipotle out
because I don’t think their results indicate that much about the
economy.)The latest earnings season has clearly been no great shakes, and there have been a number of disappointments, but the tape has still been able to hold itself together. Thus, one of the things I wanted to see today was how the overall market responded to the disappointment from Apple, on top of the others we have seen.
Bill Fleckenstein continues @ KingWorldNews.com
Even The Stronger Areas Of The Market Are Starting To Weaken
Submitted by Tyler Durden on 07/23/2015 - 08:28 We’ve spent the past few days in this space noting the recent thinning of the stock market advance. That is, despite the major averages continuing to hover near their 52-week highs, the internals are becoming uglier by the day. The main takeaway from this trend is that, should the relatively few areas of the market that are keeping it afloat begin to weaken, there will be precious little support left to prevent a significant correction. Indeed, we are beginning to see signs of deterioration now even among the stronger areas of the market.Caterpillar Explains Why It Is A Global Recession
Submitted by Tyler Durden on 07/23/2015 - 08:07- In Asia/Pacific, the sales decline was primarily due to lower sales in China and Japan.
- Decreases in Latin America were primarily due to continued weak construction activity
- Sales declined in EAME primarily due to the unfavorable impact of currency, as sales in euros translated into fewer U.S. dollars.
- Sales declined in North America as weakness in oil and gas-related construction was largely offset by stronger activity in residential and nonresidential building construction.
Grexit Remains Most Likely Outcome For JPMorgan
Submitted by Tyler Durden on 07/23/2015 - 07:53 On Wednesday evening, Greece took another step toward transforming itself into a vassal state of Brussels when lawmakers passed a second set of prior actions ahead of formal discussions around a third program. As Deutsche Bank noted earlier this week, there’s something quite absurd about the adoption of the new bailout terms being left to a government whose leader openly opposes the deal. And Deutsche Bank isn’t alone in their skepticism. JP Morgan has more on why no one "should put the odds of Greece staying in the euro above 50%".Futures Drift Higher, Dollar Slides In Quiet Session
Submitted by Tyler Durden on 07/23/2015 - 06:52 A slow week devoid of virtually any macro news - last night the biggest weekly geopolitical event concluded as expected, when Greece voted to pass the bailout bill which "the government does not believe in" just so the ECB's ELA support for Greek depositors can continue - is slowly coming to a close, as is the busiest week of the second quarter earnings season which so far has been largely disappointing despite aggressive consensus estimate cuts, especially for some of the marquee names, and unlike Q1 when a quarterly drop in EPS was avoided in the last minute, this time we won't be so lucky, and the only question is on what side of -3.5% Y/Y change in EPS will the quarter end.Frontrunning: July 23
Submitted by Tyler Durden on 07/23/2015 - 07:24- Greek PM keeps lid on party rebellion to pass bailout vote (Reuters)
- Greek Prime Minister Alexis Tsipras Remains Popular Despite Tough Bailout Deal (WSJ)
- Beijing's stock rescue has $800 billion bark, small market bite (Reuters)
- Capital exodus from China reaches $800bn as crisis deepens (Telegraph)
- Why Investors Shy Away From China’s $6.4 Trillion Bond Market (WSJ)
- Oil Rigs Left Idling Turn Caribbean Into Expensive Parking Lot (BBG)
- Bank of America replaces CFO in management shake-up (Reuters)
- The Financial Buzz? Pearson to sell Financial Times (Reuters)
As technology advances at an ever-increasing rate, one immutable law
has become apparent. Sophisticated technologies can offer many benefits,
but at a cost. The more complicated something becomes, the more
vulnerable it is. On the flip side of this law is simplicity, which
offers resilience and reliability. Every new technology that arrives on
the market, must face these conditions. If the benefits outweigh the
vulnerabilities, more people will adopt that technology. If it can’t
pull that off, then most people will take the old school route, and
stick with that technology’s time-tested predecessor.Obviously, computers are facing this challenge more than any other technology, because computers are advancing so fast that most people can’t keep up with them. These products are being rolled out before anyone can address their vulnerabilities, which is going to be a scary problem for future generations, especially with self-driving cars.
Read More @ TheDailySheeple.com
by Pater Tenebrarum, Acting-Man.com:
A Disturbance in the FarceCorporate revenues and earnings have been weak for quite some time. In big cap stocks this has been masked by the stock buyback effect, which supports earnings per share, even if the underlying trend of a business sucks. Unfortunately, stock buybacks are a horrible use of capital when stocks are trading at bubble valuations. Ironically, managers of listed companies have a great knack for boosting buybacks to record highs right when prices are at their peak. After a crash like the one in 2008 when prices are actually cheap, buybacks tend to dry up almost completely.
Moreover, many companies are levering up their balance sheets to finance these buybacks. So not only are they buying at absurd prices, they are incurring a mountain of debt to do so. Corporate debt has rushed from one record to the next in recent years. Future regret is absolutely guaranteed.
Read More @ Acting-Man.com
by Jeff Nielson, Bullion Bulls:
Gold is currently facing its most-severe, downward price “pressure”
(i.e. price-manipulation) since 2013. Not surprisingly; this has led to
the anti-gold bankers (and their media sycophants) making assorted, dire
“predictions” for the price of gold, including today’s headline:
Goldman Sachs Calls For $1,000 Gold
In recent years; such a headline would have elicited nothing but laughter from informed investors (and observers) of this market. The meteoric rise in the price of the gold had left the $1,000-level several years behind us in the rear-view mirror. More importantly; the reasons for that rise in price (i.e. the “fundamentals” of the gold market) have only gotten stronger in recent years, rather than weaker.
Beyond even that; in the past two years, as the price of gold has been manipulated back below the $1,500-level, the bankers have clearly been afraid to manipulate the price anywhere near $1,000. Indeed, since roughly the end of 2013, the “line in the sand” had been $1,200/oz.
Read More @ BullionBullsCanada.com
Gold is currently facing its most-severe, downward price “pressure”
(i.e. price-manipulation) since 2013. Not surprisingly; this has led to
the anti-gold bankers (and their media sycophants) making assorted, dire
“predictions” for the price of gold, including today’s headline:Goldman Sachs Calls For $1,000 Gold
In recent years; such a headline would have elicited nothing but laughter from informed investors (and observers) of this market. The meteoric rise in the price of the gold had left the $1,000-level several years behind us in the rear-view mirror. More importantly; the reasons for that rise in price (i.e. the “fundamentals” of the gold market) have only gotten stronger in recent years, rather than weaker.
Beyond even that; in the past two years, as the price of gold has been manipulated back below the $1,500-level, the bankers have clearly been afraid to manipulate the price anywhere near $1,000. Indeed, since roughly the end of 2013, the “line in the sand” had been $1,200/oz.
Read More @ BullionBullsCanada.com
from TheAlexJonesChannel:
from Liberty Blitzkrieg:
The most amusing aspect of the run-up the 2016 U.S. Presidential election is to watch establishment Democrat and Republican candidates scramble to reinvent themselves to fit the dramatically changed political environment. While a sizable portion of the American public remains clueless about virtually everything happening the world around them, enough people have woken up to the disastrous fraud that is the two-party political system and they’ve had enough. As a result, you see establishment clowns like Hillary Clinton and Jeb Bush scramble to pretend to be outsiders when they are the consummate insiders. Naturally, this is impossible and watching them flail and flounder like fish out of water is extremely gratifying.
Before I get into the meat of this post, a great article published at the Intercept today demonstrates just how completely captured by corporate money these useless candidates really are.
Read More @ LibertyBlitzkrieg.com
The most amusing aspect of the run-up the 2016 U.S. Presidential election is to watch establishment Democrat and Republican candidates scramble to reinvent themselves to fit the dramatically changed political environment. While a sizable portion of the American public remains clueless about virtually everything happening the world around them, enough people have woken up to the disastrous fraud that is the two-party political system and they’ve had enough. As a result, you see establishment clowns like Hillary Clinton and Jeb Bush scramble to pretend to be outsiders when they are the consummate insiders. Naturally, this is impossible and watching them flail and flounder like fish out of water is extremely gratifying.
Before I get into the meat of this post, a great article published at the Intercept today demonstrates just how completely captured by corporate money these useless candidates really are.
Read More @ LibertyBlitzkrieg.com
The World Health Organization recently pronounced that the insecticide
Lindane is directly linked to increased rates of cancer – specifically
Non-Hodgkin lymphoma. The organization also reports that DDT is
‘probably carcinogenic to humans.’What is interesting about the recent pronouncement is that it took place after lindane was banned by both the U.S. and EU. For some unknown reason, it took the WHO a half a century to come to the conclusion that lindane causes cancer. As officially reported by The Lancet:
“In June, 2015, 26 experts from 13 countries met at the International Agency for Research on Cancer (IARC; Lyon, France) to assess the carcinogenicity of the insecticides lindane and 1,1,1-trichloro-2,2-bis(4-chlorophenyl)ethane (DDT), and the herbicide 2,4-dichlorophenoxyacetic acid (2,4-D).
Read More @ NaturalSociety.com
by J. D. Heyes, Natural News:
Despite recent blowback from the American people over so-called
“sanctuary city” policies, in which local officials conspire against
federal immigration authorities to ensure that illegal immigrants are
not rounded up and deported, other cities are working to implement
similar policies, all while the Obama administration looks the other way
and refuses to enforce existing immigration laws.
Now, according to the The Gazette, activists in Iowa are working to turn Iowa City and Cedar Rapids into sanctuaries for illegal immigrants, just days after an undocumented migrant shot and killed a 32-year-old American woman in San Francisco, perhaps the original “sanctuary city.” The migrant, 45-year-old Francisco Sanchez, had been deported five times and was in custody as recently as March, but San Francisco authorities released him, citing the city’s policy.
“We want people to be able to participate in the community without fear,” Karla Stoltzfus Detweiler, a Mennonite pastor involved in requesting that Iowa City to officially ignore the illegal status of undocumented migrants, told the paper.
Read More @ NaturalNews.com
Despite recent blowback from the American people over so-called
“sanctuary city” policies, in which local officials conspire against
federal immigration authorities to ensure that illegal immigrants are
not rounded up and deported, other cities are working to implement
similar policies, all while the Obama administration looks the other way
and refuses to enforce existing immigration laws.Now, according to the The Gazette, activists in Iowa are working to turn Iowa City and Cedar Rapids into sanctuaries for illegal immigrants, just days after an undocumented migrant shot and killed a 32-year-old American woman in San Francisco, perhaps the original “sanctuary city.” The migrant, 45-year-old Francisco Sanchez, had been deported five times and was in custody as recently as March, but San Francisco authorities released him, citing the city’s policy.
“We want people to be able to participate in the community without fear,” Karla Stoltzfus Detweiler, a Mennonite pastor involved in requesting that Iowa City to officially ignore the illegal status of undocumented migrants, told the paper.
Read More @ NaturalNews.com
from TheMoneyGPS:
Kentucky Senator Rand Paul will soon introduce an amendment intended to defund Planned Parenthood.In a series of tweets sent Monday, Sen. Paul announced he would attempt to force Congress to vote on an amendment that would defund Planned Parenthood following the release of a new undercover video from the Center for Medical Progress exposing Planned Parenthood’s sale of aborted fetal tissue. Sen. Paul will attempt to attach the amendment to the HR 2 transportation bill which many lawmakers hope will be ready in time for August recess, reports Politico.
Last week, the Republican presidential contender introduced a petition on his campaign site asking the American people demand Congress “Stand for life.”
Read More @ Infowars.com
“Here in the House, the people’s priorities continue to be our
priorities,” House Speaker John Boehner (R-Ohio) told a news conference
on Wednesday — one day after the father of Kate Steinle, a murdered San
Francisco woman, urged Congress to pass legisation that would take
felonious illegal aliens off America’s streets for good.“We feel if Kate’s Law saves one daughter, one son, a mother, a father, Kate’s death won’t be in vain,” Jim Stienle told the Senate Judiciary Committee on Tuesday.
But on Wednesay, Boehner listed “the people’s priorities” as entitlement reform; human trafficking; veterans’ health care; free trade, EPA regulations; the National Defense Authorization Bill; and the Iran nuclear deal.
Read More @ CNSnews.com
from TheAlexJonesChannel:
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![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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