Submitted by Tyler Durden on 08/07/2015 - 09:12
Strangely
enough, every easily foreseeable financial crisis is presented in the
mainstream media as one that "nobody saw coming." No doubt the crisis visible in these three charts will also fall into the "nobody saw it coming" category.
S&P 500 Tumbles Into Red For 2015
Submitted by Tyler Durden on 08/07/2015 - 11:20 The S&P 500 has joined The Dow Transports, Dow Industrials, and Russell 2000 (small caps) in negative territory year-to-date...
Why A Fed Rate Hike Will Almost Certainly Lead To A Recession
Submitted by Tyler Durden on 08/07/2015 - 11:14 The chart below shows why a Fed rate hike hike in the coming months virtually assures a recession: in July, wages for non-supervisory workers failed to rise once again, increasing by a paltry 1.8% Y/Y after peaking at 2.0% in late 2014. Worse, the current trend suggest the record lows of 1.3% will be revisited in the coming months.
Dow Down 1000 Points From Highs, Small Caps Swing Red Year-To-Date
Submitted by Tyler Durden on 08/07/2015 - 10:23 But but but... the smart men on TV said a) rate-hikes are priced-in, 2) rate-hikes are bullisher for stocks than rate-cuts (why would The Fed raise rates if everything was not awesome?), and thirdly) buy the dip! It appears The Fed knows it is going to need some ammo sooner rather than later... But it's not just the mega-caps, The Russell 2000 (small caps) has tumbled back into the red year-to-date...
Silver Surges Above $15 - Biggest Jump In 3 Months - Royal Mint Issues New Coin
Submitted by Tyler Durden on 08/07/2015 - 10:45 Spot Silver prices are spiking this morning after an initial drop post-payrolls. The 2.9% jump, breaking back above $15, is the biggest daily jump since early May... This is happening as UK's Royal Mint releases 50,000 new GBP100 silver coins...having previously run out of supply to meet physical demand.
from KingWorldNews:
There are two items that bother me: One, the S&P has had 7
distribution days recently, and two, Apple stock is in full correction
mode, down 14% from its recent high, and now below its 200-day moving
average. Apple stock is widely held by mutual funds and hedge funds, and
its capitalization is so huge that the stock can move markets.
Time For A Full-Fledged Bear Market?
I’m afraid that if the Dow breaks under 17,000 and Transports below 8,000, we will be in a full-fledged bear market. The Nasdaq has become a key leading indicator. If the Nasdaq breaks below 5,000 this will be a very bearish indication. Economist John Williams continues to insist that the US economy is sinking into recession. The Fed must secretly agree with him, since they have still refused to raise short rates. If the Fed’s refusal continues, the stock market will suspect that perhaps John Williams is correct in that the US economy is a lot weaker than advertised.
Richard Russell Continues @ KingWorldNews.com
There are two items that bother me: One, the S&P has had 7
distribution days recently, and two, Apple stock is in full correction
mode, down 14% from its recent high, and now below its 200-day moving
average. Apple stock is widely held by mutual funds and hedge funds, and
its capitalization is so huge that the stock can move markets.Time For A Full-Fledged Bear Market?
I’m afraid that if the Dow breaks under 17,000 and Transports below 8,000, we will be in a full-fledged bear market. The Nasdaq has become a key leading indicator. If the Nasdaq breaks below 5,000 this will be a very bearish indication. Economist John Williams continues to insist that the US economy is sinking into recession. The Fed must secretly agree with him, since they have still refused to raise short rates. If the Fed’s refusal continues, the stock market will suspect that perhaps John Williams is correct in that the US economy is a lot weaker than advertised.
Richard Russell Continues @ KingWorldNews.com
by Chris Powell, GATA:
Dear Friend of GATA and Gold:
A Bank of England policy study written in 1988 describes gold as “the ultimate store of value and medium of exchange” because it carries no counterparty risk but cautions against increasing the United Kingdom’s gold reserves because doing so might be construed as a negative comment on the U.S. dollar and thus would risk giving “great offense to the United States.”
The study, written by Bank of England staff members, was located recently by gold researcher and GATA consultant Ronan Manly.
The study concludes that the British government should seek ways of earning a return on the country’s gold reserves. The United Kingdom’s leasing of gold may have been encouraged by the paper — and certainly would have pleased the United States by helping to suppress the gold price and strengthen the dollar — though the bank told GATA in 2011 that the UK had stopped leasing gold in 2007:
Read More @ Gata.com
Dear Friend of GATA and Gold:A Bank of England policy study written in 1988 describes gold as “the ultimate store of value and medium of exchange” because it carries no counterparty risk but cautions against increasing the United Kingdom’s gold reserves because doing so might be construed as a negative comment on the U.S. dollar and thus would risk giving “great offense to the United States.”
The study, written by Bank of England staff members, was located recently by gold researcher and GATA consultant Ronan Manly.
The study concludes that the British government should seek ways of earning a return on the country’s gold reserves. The United Kingdom’s leasing of gold may have been encouraged by the paper — and certainly would have pleased the United States by helping to suppress the gold price and strengthen the dollar — though the bank told GATA in 2011 that the UK had stopped leasing gold in 2007:
Read More @ Gata.com
from Dissent Magazine:
The 2008 financial crisis challenged many orthodox assumptions in
finance and economics, including the proper role and accountability of
central banks. The U.S. Federal Reserve, commonly known as the Fed, is
the world’s most powerful central bank.
One major source of Federal Reserve power is its role as “lender of last resort,” lending directly to commercial banks through its so-called discount lending window. Traditionally, only commercial banks had access to the Fed’s discount lending since non-bank financial institutions were not subject to the same reserve and capital requirements as those imposed on banks.
Read More
The 2008 financial crisis challenged many orthodox assumptions in
finance and economics, including the proper role and accountability of
central banks. The U.S. Federal Reserve, commonly known as the Fed, is
the world’s most powerful central bank.One major source of Federal Reserve power is its role as “lender of last resort,” lending directly to commercial banks through its so-called discount lending window. Traditionally, only commercial banks had access to the Fed’s discount lending since non-bank financial institutions were not subject to the same reserve and capital requirements as those imposed on banks.
Read More
Since 2007: 1.4 Million Manufacturing Jobs Lost; 1.4 Million Waiter/Bartender Jobs Gained
Submitted by Tyler Durden on 08/07/2015 - 10:05 Here is another, even more disturbing way of showing the "New Economy" - since December 2014, the US has lost 1.4 million manufacturing workers. These have been replaced almost one to one, with new waiters and bartenders. Win, win for everyone, especially the welfare state and of course, China.
Americans: Driving More, Spending Less, Losing Faith?
Submitted by Tyler Durden on 08/07/2015 - 09:49 Americans are finally driving more. Some of that comes from a better labor market. An additional piece stems from discretionary travel. And a final component is due to lower fuel costs. All those factors point to a better economic backdrop for the second half of 2015. If the U.S. can’t generate better labor market and economic growth with these tailwinds, what will it take?
Energy Credit Risk Hits 1000bps As WTI Crude Nears $43 Handle
Submitted by Tyler Durden on 08/07/2015 - 09:18 As the USDollar surges post-payrolls, WTI Crude futures are re-tumbling (but but but energy stocks were up yesterday!!!). With a $43 handle, WTI does not have far to fall to new cycle lows... and that has spooked professionals in the credit markets (as opposed to the machines and amateurs in the momo stock markets) as Energy credit risk surges back to 1000bps once again...
Americans Not In The Labor Force Rise To Record 93.8 Million, Participation Rate At 1977 Level
Submitted by Tyler Durden on 08/07/2015 - 08:49 In what was an "modestly" unpleasant July payrolls report, yet somewhat better than June's flagrant disappointment, the fact is that the number of Americans not in the labor force rose once again, this time by 144,000 to a record 93,770,000 million, with the result a participation rate of 62.6% which remains at a level more indicative of the September 1977 economy."One Would Be Bucking Pretty Stiff Odds To Ignore This Development"
Submitted by Tyler Durden on 08/07/2015 - 08:26
In Blow To Obama's Iran Deal Hopes, Key Democrat Defects
Submitted by Tyler Durden on 08/07/2015 - 07:40 GOP Presidential hopefuls expressed plenty of distaste for the Iran nuclear deal during last night’s debate, but it was the voice of a Democrat that mattered most on Thursday evening as Chuck Schumer, the influential Jewish Senator from New York, came out in opposition to the accord.
Citadel Securities, the trading firm started by Ken Griffin, owns one
of the 38 accounts frozen by Chinese exchanges as authorities
investigate whether algorithmic traders are disrupting the nation’s
stock market.Bourses in Shanghai and Shenzhen have increased the number of suspended accounts from 24 announced on Friday, according to their websites. The probe is focused on spoofing, a practice that involves placing then canceling orders to move prices. Owners of the other frozen accounts include Infore Capital, a Shenzhen-based asset management company, and YRD Investment Co., a Beijing-based hedge fund.
Read More…
by Mikael Thalen, InfoWars:
State representatives and citizens alike are descending on Idaho in an
attempt to stop the Department of Veterans Affairs from confiscating the
firearms of a Vietnam veteran. Idaho State Representative Heather Scott,
who first brought attention to the issue Thursday morning, stated that
the veteran had issued a plea for help after the VA determined him
unable to own firearms following a minor stroke.“Based on an assessment of a letter I received, I believe that the Department of Veterans Affairs is coming to a veteran’s home in Priest River today to check for and confiscate his guns based on nothing more than a stroke which has left him with some mild physical impairment,” Scott wrote on her Facebook page.
An excerpt of the letter posted online states that the veteran is prohibited from possessing any firearms whatsoever based upon a “determination” that he is “incompetent” to handle his VA funds.
Read More @ InfoWars.com
from Press for Truth:
from Govt Slaves:
Megyn Kelly tries to call out Donald Trump for sexist remarks from his
Twitter history. “You’ve called women you don’t like ‘fat pigs, dogs,
slobs and disgusting animals.’”
“Only Rosie O’Donnell,” laughs Trump, before turning serious. “I’ve been challenged by so many people and I don’t frankly have time for total political correctness. And to be honest with you, this country doesn’t have time either. This country is in big trouble.”
MEGYN KELLY, FOX NEWS CHANNEL: Mr. Trump, one of the things people love about you is you speak your mind and you don’t use a politician’s filter. However that is not without its downsides, in particular when it comes to women. You’ve called women you don’t like fat pigs, dogs, slobs and disgusting animals. Your twitter account–
Read More
Megyn Kelly tries to call out Donald Trump for sexist remarks from his
Twitter history. “You’ve called women you don’t like ‘fat pigs, dogs,
slobs and disgusting animals.’”“Only Rosie O’Donnell,” laughs Trump, before turning serious. “I’ve been challenged by so many people and I don’t frankly have time for total political correctness. And to be honest with you, this country doesn’t have time either. This country is in big trouble.”
MEGYN KELLY, FOX NEWS CHANNEL: Mr. Trump, one of the things people love about you is you speak your mind and you don’t use a politician’s filter. However that is not without its downsides, in particular when it comes to women. You’ve called women you don’t like fat pigs, dogs, slobs and disgusting animals. Your twitter account–
Read More
from Western Journalism:
The top ranking Jewish American Democrat in the House of
Representatives announced his opposition to President Obama’s Iranian
nuclear deal.
Rep. Steve Israel, policy and communications chairman for the Democrats, said: “I tried very hard to get to yes. But at the end of the day, despite some positive elements in the deal, the totality compelled me to oppose it.” He told Newsday that the president spoke personally with him for 25 minutes last Thursday, but his view did not change.
“Israel is the only country in the world who Iran threatens, time and time again…to wipe off the face of the earth,” the New York lawmaker stated.
Read More
The top ranking Jewish American Democrat in the House of
Representatives announced his opposition to President Obama’s Iranian
nuclear deal.Rep. Steve Israel, policy and communications chairman for the Democrats, said: “I tried very hard to get to yes. But at the end of the day, despite some positive elements in the deal, the totality compelled me to oppose it.” He told Newsday that the president spoke personally with him for 25 minutes last Thursday, but his view did not change.
“Israel is the only country in the world who Iran threatens, time and time again…to wipe off the face of the earth,” the New York lawmaker stated.
Read More
from USA Watchdog:
Congress is in recess, but that is not stopping President Obama to continue to push Democrats in both houses in Congress to vote yes in the deal to curtail Iran’s nuclear program.
The President surly knows it will be voted down by the Republicans and many Democrats in the House and Senate. The only question: Will the President have enough votes to sustain a veto? It is a foregone conclusion that the deal will be voted down and the President will veto it. If his veto is not overridden, then the deal will go through. One big problem with getting the votes are the secret side deals that Iran has with UN inspectors. The other problem is that even unclassified information about the deal is not being released by the White House to the public. If it were such a great deal, why so secret, which is the same thing I said about the Republican sponsored secret trade deal called the Trans Pacific Partnership (TPP). It will all come down to a veto or a veto override.
Read More
Congress is in recess, but that is not stopping President Obama to continue to push Democrats in both houses in Congress to vote yes in the deal to curtail Iran’s nuclear program.
The President surly knows it will be voted down by the Republicans and many Democrats in the House and Senate. The only question: Will the President have enough votes to sustain a veto? It is a foregone conclusion that the deal will be voted down and the President will veto it. If his veto is not overridden, then the deal will go through. One big problem with getting the votes are the secret side deals that Iran has with UN inspectors. The other problem is that even unclassified information about the deal is not being released by the White House to the public. If it were such a great deal, why so secret, which is the same thing I said about the Republican sponsored secret trade deal called the Trans Pacific Partnership (TPP). It will all come down to a veto or a veto override.
Read More
from RT:
After an independent autopsy showed that Zachary Hammond was shot by
police from behind, the family of the unarmed South Carolina teen is
wondering at the lack of national outrage in this case. Hammond was
white.
According to the police in Seneca, South Carolina, an officer shot Hammond “in self-defense” when the teen allegedly tried to run him over with a car during a drug arrest. An officer approached Hammond’s car in the parking lot of a Hardee’s restaurant on July 26, after an undercover officer arranged a marijuana buy with the teen’s date, 23-year-old Tori Morton. The initial police report mentions finding a bag of marijuana on Morton – who was charged with simple possession – but makes no note of the lethal shooting.
Read More
After an independent autopsy showed that Zachary Hammond was shot by
police from behind, the family of the unarmed South Carolina teen is
wondering at the lack of national outrage in this case. Hammond was
white.According to the police in Seneca, South Carolina, an officer shot Hammond “in self-defense” when the teen allegedly tried to run him over with a car during a drug arrest. An officer approached Hammond’s car in the parking lot of a Hardee’s restaurant on July 26, after an undercover officer arranged a marijuana buy with the teen’s date, 23-year-old Tori Morton. The initial police report mentions finding a bag of marijuana on Morton – who was charged with simple possession – but makes no note of the lethal shooting.
Read More
from Wolf Street:
It’s been tough for US oil companies. And even tougher for their investors. The hero du jour is Marathon Oil.
Today afterhours it reported an eye-popping 48% plunge in revenues in the second quarter and a net loss of $386 million. To stem the bleeding, it slashed capital expenditures by 40% from the prior quarter. “Importantly,” as it said in the press release, it was able to reduce production costs in North America by over 30% per barrel of oil equivalent from a year ago. And it cut is general and administrative costs by more than 20%.
Read More
It’s been tough for US oil companies. And even tougher for their investors. The hero du jour is Marathon Oil.
Today afterhours it reported an eye-popping 48% plunge in revenues in the second quarter and a net loss of $386 million. To stem the bleeding, it slashed capital expenditures by 40% from the prior quarter. “Importantly,” as it said in the press release, it was able to reduce production costs in North America by over 30% per barrel of oil equivalent from a year ago. And it cut is general and administrative costs by more than 20%.
Read More
by Jeff Nielson, Bullion Bulls:
A “bubble” soars up out of nowhere in China’s equity markets, over a
six-month span, which (conveniently) distracts peoples’ attention from
the much larger bubbles in U.S. markets that have been pumped-up relentlessly for 6+ years. China’s stock market bubble suddenly collapses, while the much larger U.S. bubbles continue to remain intact. U.S. traders (and their trading algorithm) are investigated for stock market manipulation by Chinese authorities.
For the vast majority of Western lemmings; they will see absolutely no connection between the first two events, and the (subsequent) third event. For regular readers, however, the connection couldn’t be more obvious.
Read More…
A “bubble” soars up out of nowhere in China’s equity markets, over a
six-month span, which (conveniently) distracts peoples’ attention from
the much larger bubbles in U.S. markets that have been pumped-up relentlessly for 6+ years. China’s stock market bubble suddenly collapses, while the much larger U.S. bubbles continue to remain intact. U.S. traders (and their trading algorithm) are investigated for stock market manipulation by Chinese authorities.For the vast majority of Western lemmings; they will see absolutely no connection between the first two events, and the (subsequent) third event. For regular readers, however, the connection couldn’t be more obvious.
Read More…
from X22 Report:
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![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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