Submitted by Tyler Durden on 09/23/2015 - 08:19 "Mainstream America with their 401Ks are in a similar pickle. Expecting 8-10% to pay for education, healthcare, retirement or simply taking an accustomed vacation, they won’t be doing much of it as long as short term yields are at zero. They are not so much in a pickle barrel as they are on a revolving spit, being slowly cooked alive while central bankers focus on their Taylor models and fight non-existent inflation."
Submitted by Tyler Durden on 09/23/2015 - 07:54 "It’s like a pig on LSD. You don’t know which way it’s going to run"...
Submitted by Tyler Durden on 09/23/2015 - 09:30 Paying a premium for a pet rock?
"Keep Reporting On Bright Economic Future" - China Ministry Of Truth Demands Media "Properly Interpret" DataSubmitted by Tyler Durden on 09/22/2015 - 22:32 The following censorship instructions, issued to the media by government authorities, have been leaked and distributed online. As China Digital Times reports, propaganda directives issued by the Xinhua News Agency and the Central Propaganda Department show that Chinese media are being instructed to "properly interpret economic data," and "promote discourse on China’s bright economic future."
Submitted by Tyler Durden on 09/23/2015 - 09:21 Hope, once again, did not triumph over reality...
Submitted by Tyler Durden on 09/23/2015 - 09:09 From Novotny, Coeure, and Jazbec, the leaks this morning have been clearly angled towards "do not expect any more Q€ anytime soon," so one wonders if, having seen the reaction in EUR weakness still whether Mario Draghi will try and talk these 'hawkish' comments back?
Warren Pollock warns the global economy is headed for a brick wall.
Pollock explains, “It’s good you are using the term brick because that’s the part of the economy which is crashing first, the emerging markets, the BRICS (Brazil, Russia, India, China and South Africa). That’s on the edge of empire, and now it is imploding inward. So, we can look at all of these peripheral economies, and that’s where the crash has occurred right now. When you talk about crash and people asking, ‘When is this going to happen?’ It’s happening right now, but it is not happening at the center of empire, it’s happening on the extremities of empire. These emerging markets, these miracle economies, the few countries in the world that had productive economies, they’ve hit a brick wall. They’ve crashed. China has crashed. When you look at Brazil–crash. When you look at Russia–crash. When you look at oil prices–crashing now. People keep asking when is this blowing up? And the answer is it’s blowing up right before your eyes right now, this minute. The domestic indicator is the declining velocity of money.”
The world is enslaved to an economic system designed to create tremendous power and wealth for those who own the system, while forcing the rest of us into mathematically insurmountable debt and the stagnation, austerity and poverty that comes with it.
Corrupt and patently unsustainable, the world’s currencies and financial markets are rigged, and an economic collapse is inevitable at some point. Sad but true, and the ongoing dramatic narrative of the interplay between engineered boom and engineered bust is a chief psychological tool in sustaining the popular belief that this monetary reality as the only monetary reality possible. The truth, however, is that as long as this economic reality is the reality then we will be slaves to debt economics, and the pursuit of endless growth is certain to consume everything on the planet.
Submitted by Tyler Durden on 09/23/2015 - 09:01 The fallout from the emissions scandal that triggered a harrowing plunge in Volkswagen's shares and now threatens to derail the German economy continues as Detusche Bank delivers a sobering assessment, the Green party blames Berlin, BaFin lanches an investigation, and the town of Wolfsburg panics.
Submitted by Tyler Durden on 09/23/2015 - 08:41 While investors (or more likely, traders) often agonize over each and every tick of a market, there are undoubtedly some junctures that are more critical than others. European equities appear to be at such a juncture presently.
I am mourning for America, because she is dying. I am mourning for a nation that once knew such greatness but that has now fallen to depths that were once unimaginable. I am mourning for the death and destruction that are coming, and I am mourning for a future that our children and our grandchildren will never get to see. I am mourning for a nation that has refused to listen to the warnings and that now stands on the precipice of judgment. I am mourning for games that will never be played, for books that will never be finished, for family vacations that will never get to happen and for memories that will never be made. I am mourning for the economic depression that is coming, for the horror and suffering that friends and family will endure, and for the coming death of the country where I drew my first breath.
Submitted by Tyler Durden on 09/23/2015 - 07:44
- Global Stocks Steady Despite China Slowdown (WSJ)
- European Recovery Saves Markets From China Gloom as Stocks Rally (BBG)
- Pope starts U.S. trip with tone of conciliation (Reuters)
- FBI Said to Recover Personal E-Mails From Hillary Clinton Server (BBG)
- Volkswagen chief faces grilling by board over diesel scandal (Reuters)
- 'European Detroit' Fear Grips VW Company Town as Scandal Widens (BBG)
- Berlin finds itself caught up in Volkswagen scandal (FT)
Submitted by Tyler Durden on 09/23/2015 - 07:15 In the aftermath of Yellen's "hung hold" decision, which left the world confused if the economy is getting better or worse, global equity markets proceeded to take both Europe and Japan to task, trying to push one of the last two remaining central banks to boost their QE. And until this morning it was unclear who was going to take the lead. Then, following comments over the past several hours from ECB governing council members Ewald Nowotny and Bostjan Jazbec, as well as a well-directed leak via Market News, we got confirmation that anyone hoping for Mario Draghi to blink first may be disappointed this time around.
US Futures Surge Nearly 30 Points To Overnight Highs After Tumbling On Worst Chinese Data In 6 YearsSubmitted by Tyler Durden on 09/23/2015 - 06:55 In many ways, the overnight market has so far been a reversal of yesterday, when a stable Asia session (with China stocks rising) gave way to a European tumble which in turn dragged the US lower.
Following Public Fury, Jim Cramer-Trained CEO Who Raised Price Of Drug By 5000%, Agrees To Lower The PriceSubmitted by Tyler Durden on 09/22/2015 - 23:02 Following the biggest plunge in biotech stocks in 2015 - some have speculated that the real goal of Shkreli's actions was to profit by shorting the biotech sector ahead of the selling which his action would have unleashed - and an epic public outcry against the diminutive "hedge fund" manager, NBC reported moments ago that "the pharmaceutical company boss under fire for increasing the price of the drug Daraprim by more than 5,000 percent said Tuesday he will lower the cost of the life-saving medication."
Submitted by Tyler Durden on 09/22/2015 - 22:45 “Unless we get up off our fat surpluses and recognize that television in the main is being used to distract, delude, amuse, and insulate us, then television and those who finance it, those who look at it, and those who work at it, may see a totally different picture too late.”
Submitted by Tyler Durden on 09/22/2015 - 22:13 "Softer growth prospects for the People’s Republic of China (PRC) and India, and a slow recovery in the major industrial economies, will combine to push growth in developing Asia for 2015 and 2016 below previous projections."
Submitted by Tyler Durden on 09/22/2015 - 21:52 US equity futures plunged (Dow -140)
Following Xi's earlier speech reassuring Yellen that the "Chinese economy is stable," and the Yuan tumbled 0.25% against the USD ahead of the data. China's Flash Manufacturing PMI printed a disastrous 47.0 (against expectations of a slight rise to 47.5 from August's 47.3). This is the lowest print since March 2009. Caixin Group confidently suggests this utterly crap data is the bottom and that "patience may be needed for policies designed to promote stabilization to demonstrate their effectiveness.”
Submitted by Tyler Durden on 09/22/2015 - 21:45 One of the main data points that pundits and politicians who claim there is an “economy recovery” point to is jobs created. Please tell me, what good is a job if it can’t earn you a roof over your head?
Welcome to the Oligarch Recovery.
Harley Schlanger, historian and national spokesman for LaRouchePAC joins us to discuss current geopolitical events including Putin’s gamesmanship in Syria where he has outmaneuvered Obama and exposed the fraud of the US “war on terror” by actually fighting ISIS, which the Pentagon and Obama do not want.
Incidentally, in March of 2014 while at the Hague in the Netherlands, President Obama warned the world that he is very concerned about the possibility of a nuclear weapon going off in Manhattan – a puzzling and frightening admission from a “leader of the free world”. Given that western governments are very keen on using false flag events to steer public policy and opinion, one wonders what Obama knows. Harley and I discuss.
We also cover the deteriorating global economy, and the fact that the American people had better wake up soon, because once the Dollar collapses under its mountain of debt and broken promises, Harley explains, “People aren’t going to have money soon. If we don’t change the policies we’re going to have a global blowout much much bigger than 2008, probably much bigger than 1929 to 1933 and people will lose everything”.
Commodities haven’t been this cheap since 1999…
Regular readers know commodities are hurting. The price of oil has fallen 51% over the past 12 months. Sugar, coffee, and oat prices are each down more than 30%.
China is a big reason why. China consumes 55% of the world’s commodities. But its economy is growing at its slowest pace in 25 years.
Many commodity producers are in “survival mode.” Miners and oil companies are laying off thousands of workers. The Wall Street Journal reports that energy and commodity companies expect to cut capital spending by 14% this year.
Gold prices peaked in January 1996 and then fell for 3.5 years into a multi-decade low. It was the age of stocks, debt, leverage, and good times; nobody needed or wanted gold.
Since the gold price peak in 2011 the Federal Reserve has “generously” supplied the world with trillions of dollars of newly created digital and paper debt, all backed by nothing but faith and credit. Bonds have rallied and the S&P is higher by 50% or so. The Japanese Central Bank has similarly produced trillions of yen, bought stocks and bonds, and extended their recession several more years.