Submitted by Tyler Durden on 09/24/2015 - 10:02
Submitted by Tyler Durden on 09/24/2015 - 09:15 Just three days ago after looking at the latest CAT retail sales, we asked in stunned amazement "What On Earth Is Going On With Caterpillar Sales?" We now know the answer.
Submitted by Tyler Durden on 09/24/2015 - 10:50 With the drop today, the S&P 500 is now down 10.5% from its May highs, re-entering the correction seen on Black Monday. This now leaves the key benchmark lower since QE3 ended and unchanged since May 2014.
Submitted by Tyler Durden on 09/24/2015 - 09:52 If it was Janet Yellen's intention when deciding not to hike rates to stop the surge of the USD against emerging market currencies in hopes of halting the relentless global capital outflows and the resulting Quantitative Tightning, to avoid a new global currency crisis... she failed.
Submitted by Tyler Durden on 09/24/2015 - 10:40 It's time to trade in your Jag, Mercedes, BMW (and maybe your Prius, Volvo, Lexus, etc.) before the Days of Rage start. The resistance will take the form of subverting the signifiers of wealth that exemplify the few who have benefited so greatly while everyone else lost ground.
Submitted by Tyler Durden on 09/24/2015 - 10:20 It just keeps getting worse, and worse, and worse...
Submitted by Tyler Durden on 09/24/2015 - 08:55 Like on many previous occasions, the Muslim pilgrimage to Mecca once again led to a tragic loss of life in what may be the deadliest stampede in pilgiramge history when at least 717 people died and another 805 were injured.
A resurgent and aggressive Russia has created new concerns among Pentagon officials, leading them to dust off Cold War-era plans for dealing with Moscow’s improved forces. But when war-gaming long-forgotten scenarios under today’s conditions, Defense Department planners have made a shocking discovery: The U.S. military routinely comes up on the losing end of any conflict with Russian troops, Foreign Policy (FP) reported Monday.
To be sure, the Pentagon is always generating contingency plans for every possible scenario – from armed confrontation with Iran and North Korea to stopping zombie attacks (not a joke). As FP notes, those plans are then ranked and honed depending on priority and probability.
Since the end of the Cold War in 1991, conflict with Russia and former Soviet satellite states dropped off the radar and, for the past two decades essentially sat on a shelf gathering dust.
Submitted by Tyler Durden on 09/24/2015 - 09:35 Perhaps Volkswagen is the best most recent example of "lying when it's important" but as Martin Armstrong, the European Union's leadership (elected and unelected) are the kings of hiding the truth when it matters. As he warns, "if you do not know whom to trust, distrust everyone." The motto of the ECB is plain and simple: why reform when we still have some power? Governments will fight until the last drop of blood is spilled; they assume it will be your blood, not theirs.
Submitted by Tyler Durden on 09/24/2015 - 08:48 From Dallas to Philly, and from New York to Richmond, the regional Fed surveys have been ugly. So not to be outdone, Chicago Fed's National Activity Index collapsed from +0.34 to -0.41 (dramatically missing expectations of 0.24) and testing 6-month lows. The CFNAI has now missed expectations for 7 of the last 9 months. The reading below zero indicates below-trend growth in the national economy and easing pressures of future inflation.
Submitted by Tyler Durden on 09/24/2015 - 08:39 Durable Goods New Orders dropped 2.0% MoM in August, the biggest drop since March (but modestly beat expectations of a 2.3% drop). This extends the ex-transports YoY losing streak to 7 months of declines flashing recessionary warnings left and right. Perhaps most notable is the 0.2% drop in Capital goods Shipments (dramatically missing expectations of a 0.5% rise) and the weakest print since May.
Submitted by Tyler Durden on 09/24/2015 - 08:28 Another rip sold. Dow futures are down over 140 points in the pre-open (as it appears Cramer's pajama-wearers are derisking again). Following the 4th day of Yuan weakness, EUR-based carry trades continue their unwind and that pressure is driving USD Index notably lower, bond yields gapping lower, and commodities tumbling... except gold
Submitted by Tyler Durden on 09/24/2015 - 08:09 Martin Winterkorn, engulfed by a diesel-emissions scandal at Volkswagen AG, amassed a $32 million pension before stepping down Wednesday, and may reap millions more in severance depending on how the supervisory board classifies his exit.
Submitted by Tyler Durden on 09/24/2015 - 07:53 The global race to the bottom continued on Thursday as Norway and Taiwan moved to cut rates sending NOK plunging to its weakest level against the dollar in 13 years and pressing Tawain dollar forwards to six year lows.
- Stocks slip for fifth straight day, euro holds steady (Reuters)
- VW recall letters in April warned of an emissions glitch (Reuters)
- VW Cheating Scandal Threatens to Ensnare BMW as Probe Widens (BBG)
- Pope Francis set to address fractious U.S. Congress (Reuters)
- Norway Cuts Rates to Record Low to Save Economy From Oil Slump (BBG)
- Taiwan Cuts Rate for First Time Since 2009 as Exports Falter (BBG)
- Janet Yellen to speak at UMass on Thursday (Daily Collegian)
- A Big Bet That China’s Currency Will Devalue Further (NYT)
- Debt Relief for Students Snarls Market for Their Loans (WSJ)
Submitted by Tyler Durden on 09/24/2015 - 06:45 European equity have been weighed on by BMW after reports in German press that the Co.'s emission tests for their X3 model could show worse results than that of the Volkswagen Passat. The Norwegian and Taiwanese central banks have both cut interest rates, taking the number of central banks to cut rates this year to 40. Today's highlights include US weekly jobs data and durable goods orders as well as comments from ECB's Praet and Fed's Yellen. Of note US data, including jobless claims, durables and home sales will be delayed today & not released to newswires 1st due to Pope's visit
Submitted by Tyler Durden on 09/23/2015 - 23:18 As Bloomberg reports, "President Vladimir Putin, determined to strengthen Russia’s only military outpost in the Middle East, is preparing to launch unilateral airstrikes against Islamic State from inside Syria if the U.S. rejects his proposal to join forces, two people familiar with the matter said."
Submitted by Tyler Durden on 09/23/2015 - 22:20 As far as we can tell, not only has democracy departed the Western world, but also compassion, empathy for others, morality, integrity, respect for truth, justice, faithfulness, and self-respect. Western civilization has become a hollow shell. There is nothing left but greed and coercion and the threat of coercion.In the Western World the aristocracy of wealth is being re-established.
Submitted by Tyler Durden on 09/24/2015 - 09:55 Francis will be the first pope ever to address Congress, and as NY Times reports, a milestone in the journey of the Catholic Church in the United States. Mr. Boehner, a proud Catholic, has invited three popes over 20 years to come to Capitol Hill, with this being his first success. The papal address to the Republican-controlled Congress may make some squirm as Francis isn’t shy about tackling controversial topics or upending conventional orthodoxies about Catholics and politics — a prospect that makes U.S. conservatives especially nervous, given Francis’ insistence on raising concerns about issues such as economic justice, climate change and immigration.
When it hits the fan…I mean REALLY hits the fan in a permanent kind of way, the most likely outcome is death.
That’s not pretty, and I’m well aware of it. I always try to be positive and optimistic, because for me, preparedness is the ultimate act of optimism, but sometimes we have to look at the numbers and face some things that are pretty terrifying. The first reality check is that some research says that only 3 million Americans are preppers. That means that 315 million Americans are notpreppers. Some experts predict that within 30 days of the power going out, 50% of Americans will be dead. Within a year, an astounding 90% of the population will be dead.
Western powers are avid provocateurs of conflict, war and destabilization when they suit their interests. Interventionism has been its best ally when imperial forces put their eyes on any piece of land anywhere in the world. Crises are fabricated, instigated or inflamed with the sole purpose of bringing ‘order out chaos’.
The current crisis, however, is different. The ongoing migrant crisis of Syrian, Afghan and Libyan refugees, who have been driven out of their land through war, famine, and political oppression is sort of a final stage in the plan to collapse the western world.”
As documented in Douglas Blackmon’s book, Slavery By Another Name: The Re-Enslavement of Black Americans from the Civil War to World War II, the institution of slavery in the U.S. South largely ended for as long as 20 years in some places upon completion of the U.S. civil war. And then it was back again, in a slightly different form, widespread, controlling, publicly known and accepted — right up to World War II. In fact, in other forms, it remains today. But it does not remain today in the overpowering form that prevented a civil rights movement for nearly a century. It exists today in ways that we are free to oppose and resist, and we fail to do so only to our own shame.
During widely publicized trials of slave owners for the crime of slavery in 1903 — trials that did virtually nothing to end the pervasive practice — the Montgomery Advertiser editorialized: “Forgiveness is a Christian virtue and forgetfulness is often a relief, but some of us will never forgive nor forget the damnable and brutal excesses that were committed all over the South by negroes and their white allies, many of whom were federal officials, against whose acts our people were practically powerless.”
Earlier Wednesday, GOP presidential candidate Donald Trump announced that he was boycotting Fox News and would no longer appear on the most watched cable news network. But now Fox has fired back in a big and very public way.
Trump took to Twitter on Wednesday to slam Fox and to announce his personal boycott of the network:
But that same afternoon, Fox said that Trump did not tell the whole story.
Fox News insists that Trump announced his boycott only after they canceled an upcoming appearance that was supposed to be scheduled for Thursday’s The O’Reilly Factor.
from The Wealth Watchman:
Picture yourself still alive in the future. Perhaps after the new world order is fully operational (2030 or beyond). By then perhaps it’s too late. Humanity had become enslaved forever. Imagine a large percentage of humanity is now dead and gone. Billions succumbed to various diseases all linked to toxins and diseases that you now realize could have been easily avoided. The human species, you now realize, became victims of their own corruption, greed, subsequent policies and mind games. The species had become so locked in to their predetermined paradigms that by the time enough people began to think on their own too many of them died off one way or another.
The “war on terror” that never did seem to end turned out to be the perfect tool to rationalize permanent war against everyone, anywhere, everywhere and at anytime. The human species essentially killed itself off.
Often referred to as the Switzerland of South America, Uruguay is long accustomed to doing things its own way. It was the first nation in Latin America to establish a welfare state. It also has an unusually large middle class for the region and unlike its giant neighbors to the north and west, Brazil and Argentina, is largely free of serious income inequality.
Two years ago, during José Mujica’s presidency, Uruguay became the first nation to legalize marijuana in Latin America, a continent that is being ripped apart by drug trafficking and its associated violence and corruption of state institutions.
Future Money Trends:
Sexual assault crimes have long been a serious problem in the United States. While the number of rapes that are committed has been declining in recent years, as have other forms of violent crime, the United States still frequently finds itself among nations with the highest number of confirmed rapes in the world. In addition, conviction rates are often shockingly low, in part because most rapes have no independent witnesses. Unlike some crimes that happen in broad daylight, and often in view of security cameras, rapes usually occur behind closed doors and no one can verify the claims of either party.
That’s why attaining physical evidence is so important, and why victims need to see a doctor as soon as they can after a rape has happened. If a medical professional doesn’t put a rape kit together, there may be no real evidence that anything occurred.