Submitted by Tyler Durden on 09/11/2015 - 13:20
The market has delivered a warning shot in August, but it seems investors aren’t taking it seriously yet. This could turn out to be a costly mistake. If (or rather when) faith in the omnipotence of central banks crumbles, we could see an unusually severe market dislocation.
Collapsing commodities prices, erratic market turmoil and the bursting of Chinese bubbles are leading to a crisis in confidence in the economic system across the globe. The long-expected crisis to which the global financial and systemic crisis in 2008 may have been a mere prelude may be upon us.
Governments have no appetite for further bailouts. The EU states have passed legislation which will make the banks or rather unfortunate and unsuspecting depositors liable for the bank’s lending and speculative profligacy.
Submitted by Tyler Durden on 09/11/2015 - 13:40 As part of the refugee crisis in which tens of thousands of innocent Syrians have been displaced and seeking European asylum, it was only a matter of time before one or more was "found" to be ISIS terrorists in order to perpetuate the fear and crisis narrative. A crisis which Brussels would never go to waste. That time has arrived after a report by German RTL and carried by NewObserver that "an ISIS terrorist posing as an "asylum seeker" has been arrested by German police in a “refugee” center in Stuttgart, and German customs officers have seized boxes containing Syrian passports being smuggled into Europe."
Submitted by Tyler Durden on 09/11/2015 - 15:10 Presented with no comment...
I am not certain what is going on in the COMEX because the figures are subject to falsification. The one thing I can say with certainty is the the banksters are doing what they always do when things get dicey.
They’ll resort to the trade I call “the race to steal pennies off a dead man’s eyes.” This you can take to the bank.
The lowest of the criminal class were those who resorted to grave robbing and purloining what little money a corpse had on the body. Bankers in their cheap $250 suits might not have the carrion odor of a grave robber but if you were to get really close to a banker, you can smell the stink of fear and greed. I don’t recommend that but some people like to take greater risks than others.
At some point or another, we’ve all wished that we had a crystal ball that could tell us what’s going to happen next. The world can be a hell of a scary place sometimes, and having an idea of what the future may hold can be a lifesaver. Nowhere is this more applicable than with the economy.
The global financial system is a force that none of us have any substantial control over. All we can hope to do is ride the booms and busts of our economy as best we can. However, if we can catch even a small glimpse of what’s to come, we can brace ourselves and our families for the hard times that are ahead.
Obviously, when an economy is enduring a downturn it affects every facet of society and the signs are everywhere, but some of these trends actually begin before the economy collapses. Here are a few that you may not have been aware of.
Submitted by Tyler Durden on 09/11/2015 - 10:45 "[Kerry employs] an absolutely upside-down logic and [it's] yet another attempt to appease those who use terrorists to fight dissenting regimes. We are always in favor of military people talking to each other in a professional way. They understand each other very well. If, as he has said many times, the United States wants those channels frozen, then be our guest."
Submitted by Tyler Durden on 09/11/2015 - 14:45
Australian Prime Minister Tony Abbott on Wednesday became the latest elected leader to use the plight of refugees in building a rhetorical case for military escalation towards Syria, despite numerous calls for wealthy nations to extend refuge - not bombs - as the humanitarian crisis worsens.
Submitted by Tyler Durden on 09/11/2015 - 14:31 At least 87 people were killed after a crane crashed earlier today in Mecca's Grand Mosque with Saudi Arabia's Civil defense adding another 184 people were injured in the fatal accident which takes place just weeks before Islam's annual Hajj pilgrimage which takes place between September 21-26. Some point out pictures circulating on social networks of what may have been a lightning strike hitting the crane just moments before the fatal crash. Others point out the macabre coincidence that this tragedy takes place on the 14th anniversary of September 11.
Submitted by Tyler Durden on 09/11/2015 - 14:20 Remember June - when everything was (apparently) awesome in BRIC-land and somehow a large group of duration-seeking greater-fools used Other-People's-Money to buy Petrobras bonds that mature in 100 years! Well those bonds are now trading less than 70c on the dollar (with yields pushing 10%) as Brazil's state-run oil company Petrobras, which slashed its five-year spending plan by 40% in June, admits that plan is already obsolete (two company sources told Reuters on Thursday). Petrobras will likely cut back further as growing debt costs, falling oil prices and a weak currency are the perfect storm for the company.
Submitted by Tyler Durden on 09/11/2015 - 14:00 The last seven years of American history will be remembered for the unprecedented oligarch crime scene that it is. Branding what has occurred during the Obama administration an “economic recovery,” represents little more than a vicious assault on human intelligence.
Submitted by Tyler Durden on 09/11/2015 - 13:11 "While we are increasingly convinced that the market needs to see lower oil prices for longer to achieve a production cut, the source of this production decline and its forcing mechanism is growing more uncertain, raising the possibility that we may ultimately clear at a sharply lower price with cash costs around $20/bbl Brent prices."
Submitted by Tyler Durden on 09/11/2015 - 13:09 Washington's Union Station is now on lockdown after shots were fired early Friday afternoon.
Submitted by Tyler Durden on 09/11/2015 - 13:09 With Saudis blowing off an OPEC leaders meeting, Iran slashing prices to 3 year lows inventories rising rapidly but US production dropping quickly, and Goldman calling for $20 oil possible, it has been a busy (and mixed) week for oil news. Add to that the seasonal lull amid refinery slowdown/repairs and Today's 10 rig drop in US oil rig count to 652 (following last week's 12 rig drop) is the biggest 2-week drop in 4 months just adds to the noise with Texas rig count dropping most (-9 to 366). Crude prices are rising modestly as US rig count drops back to 2-months lows.
"They're Making Idiots Of Us!": Eastern Europe Furious At West For Doing Gas Deals With Russian DevilsSubmitted by Tyler Durden on 09/11/2015 - 12:40 "You can’t talk for months about how to stabilize the situation and then take a decision that puts Ukraine and Slovakia into an unenviable situation."
Submitted by Tyler Durden on 09/11/2015 - 12:17 The 2008 global financial crisis was centered on mortgage debt. There was too much of it that couldn’t be repaid. When the value of the collateral – homes – headed down, the bubble popped. Today, consumers have about the same amount of debt. But now the excesses are in auto loans and student debt... and again, the collateral is falling in value.
Submitted by Tyler Durden on 09/11/2015 - 11:50 "You can push and push, but at the end of the day you know where the power lies"...
Submitted by Tyler Durden on 09/11/2015 - 11:26 "The weakness in the August BAC data suggests a high risk for softness in the Census Bureau advance retail sales report given that the two measures trend closely. While we know that the retail sales figures are volatile and subject to revisions, it is hard to ignore a weak report." Why is all of the above particularly important? Because with the August Retail Spending report due on September 15, it will be the last report on the economy the Fed will read ahead of its "most important if not ever then surely in the past decade" FOMC meeting starting on September 16, and concluding with the 2pm announcement on September 17.
Submitted by Tyler Durden on 09/11/2015 - 11:25 EURUSD has been rising for the last week adding over 230 pips of the September 3rd Draghi lows. The last few minutes has seen that EUR strength extend 40-50 pips which must be disheartening for Goldman Sachs who just released a note explaining why EURUSD's bounce is over...
Submitted by Tyler Durden on 09/11/2015 - 11:20 If anyone has not noticed, the market has changed from rewarding buying the dips to rewarding selling the blips. Selling the blips is how smart money leaves markets. Smart money is also big money. There is too much of it to fit through the exit door at the same time. That is why market crashes rarely occur in a day (August of 1987 was an exception) or even short periods like a month. Even the Great Depression took multiple years for the stock market to reach its ultimate bottom.
Can you hear it? That giant sucking noise?
That is the sound of $240 billion getting pulled into a bottomless pit.
That’s just since June, and it is just the start of it, too.
China is in full-blown triage mode, dumping all that money into its stock market, along with:
investigating short positions,
arresting or questioning 197 people about online market rumors,
raising margin requirements and tightening position limits,
OWith continued volatile trading in global markets, the Godfather of newsletter writers, 91-year-old Richard Russell, discussed everything from minimum wages to 80 being the new 60. The legend also discussed the “Golden Key.”
Richard Russell: “At the age of 91 you don’t have to think of the benefit of years of income ahead of you. You might live another year or so or even break your family record by living another 10 years. If you live longer than expected you have the safety of your children to keep you off the streets.
More than 50 U.S. military intelligence analysts operating out of U.S. Central Command (CENTCOM) have staged what has been called a ‘revolt’ by intelligence professionals. The revolt comes after announcing that their intelligence reports were being altered and manipulated to fit the public narrative that the U.S. is winning the battle against ISIS.
The analysts are assigned to U.S. CENTCOM, but are officially employed by the Defense Intelligence Agency, the intelligence branch of the Pentagon.
“The cancer was within the senior level of the intelligence command,” one defense official told The Daily Beast.
The events unfolding around the world, or perhaps better expressed, events unraveling at such a rapid and confusing pace can only be a prelude for the disastrous consequences that inevitably will follow. While it may be hard to reconcile, all of this has been orchestrated by the global elites who fully intend to create as much havoc and destruction as possible, the Problem. They then monitor the Reaction, now around the world and not just confined to specific countries and regions, and what everyone is seeing is chaos, but it is an intended chaos that will lead to a Globalist’s Solution.
What might that Solution be? The final rise and control of their vaunted and planned New World Order. Nation states are being weakened, if not destroyed. In the Middle East, the destruction is literal. In many European and South American countries, the destruction is the result of financial attacks, weakening a country’s ability to exist, the preeminent example being Greece. There are similar prospects for Spain, Italy, Brazil, constant attacks on the Russian economy, and now China
This Agenda is a plan of action for people, planet and prosperity. It also seeks to strengthen universal peace in larger freedom. We recognize that eradicating poverty in all its forms and dimensions, including extreme poverty, is the greatest global challenge and an indispensable requirement for sustainable development. All countries and all stakeholders, acting in collaborative partnership, will implement this plan. We are resolved to free the human race from the tyranny of poverty and want and to heal and secure our planet. We are determined to take the bold and transformative steps which are urgently needed to shift the world onto a sustainable and resilient path. As we embark on this collective journey, we pledge that no one will be left behind. The 17 Sustainable Development Goals and 169 targets which we are announcing today demonstrate the scale and ambition of this new universal Agenda. They seek to build on the Millennium Development Goals and complete what these did not achieve. They seek to realize the human rights of all and to achieve gender equality and the empowerment of all women and girls. They are integrated and indivisible and balance the three dimensions of sustainable development: the economic, social and environmental.
Constitution 1; Obama 0.
That was the score Wednesday as a federal judge gave House Republicans the go-ahead to proceed with their lawsuit to block President Obama’s budget-busting healthcare law.
“This suit remains a plain dispute over a constitutional command, of which the Judiciary has long been the ultimate interpreter,” wrote U.S. District Court Judge Rosemary M. Collyer, who said that House Republicans have legal standing to sue.
Australian Prime Minister Tony Abbott on Wednesday became the latest elected leader to use the plight of refugees in building a rhetorical case for military escalation towards Syria, despite numerous calls for wealthy nations to extend refuge—not bombs—as the humanitarian crisis worsens.
Speaking in the Australian capital of Canberra on Wednesday, Abbott coupled an announcement that the country will admit an additional 12,000 people fleeing conflict in the Middle East with the declaration that the nation will extend its military actions beyond Iraq by joining in the bombing campaign in eastern Syria this week. The move comes despite questions over the Abbott administration’s legal footing for the air strikes.