Submitted by Tyler Durden on 09/22/2015 - 10:28
“American exceptionalism has to be driven out of our curriculums. We’re not under threat. We are the threat.”
Submitted by Tyler Durden on 09/22/2015 - 12:34 Most Fed officials still expect a first rate increase this year, Yellen says, noting that "13 out of the 17 are looking for a move in 2015." The market disagrees...
With the world waiting to see what is next for China after their recent stock market crash, today King World News is featuring a piece from a firm that helps to oversee $175 billion, which discusses China Syndrome, and the liquidity crisis that erupted from massive negative shocks.
“What is a systemic crisis? It is a liquidity crunch that erupts and spreads when very large negative shocks hit the economic grid, throwing normally well-functioning enterprises into distress.” — Jason Hsu, Co-founder of Research Affiliates
Submitted by Tyler Durden on 09/22/2015 - 13:16 TSA agents don’t get enough credit. They aren’t just experts at sexually molesting airport passengers, although they are very good at that. They have also become well known for outright theft.
Submitted by Tyler Durden on 09/22/2015 - 15:30 Hot on the heels of British military threats of a coup, the potential for a truly 'red' black swan of an event has reared its ugly head in China, just as Xi tours America. As Reuters reports, bitterness is growing within China's armed forces to President Xi Jinping's decision to cut troop numbers by 300,000, and, according to a source and commentaries in the military's newspaper, considerable effort will be needed to overcome opposition to the order with PLA official sources warning "people are worried, it's been too sudden."
Submitted by Tyler Durden on 09/22/2015 - 15:10 The negative feedback look between Brazil's political and economic crises is serving to make each day worse than the last. Tuesday was no exception...
Pharmaceutical giant GlaxoSmithKline (GSK) dumped 45 liters (12 gallons) of live, concentrated polio virus into a Belgian river on September 2, according to a press release by the country’s Federal Public Service Health, Food Chain Safety and Environment’s Scientific Institute of Public Health (WIV-ISP).
Poliomyelitis, more commonly known simply as “polio,” is a viral disease that is typically transmitted between people via the fecal-oral pathway. In 90 percent of cases, the disease produces no noticeable symptoms. In about 1 percent of cases, the virus spreads into the nervous system and preferentially destroys motor neurons in the spinal cord, brain stem and the brain’s motor cortex. This produces the paralysis characteristic of the disease.
Submitted by Tyler Durden on 09/22/2015 - 14:49 The aggregate Buybacks to Free Cash Flow ratio for the S&P 500 exceeded 100% for the first time since October 2009. The ratio hit 108% on a TTM basis at the end of Q2, which represented a 12.9% increase quarter-over-quarter and a 42% increase year-over-year. The 10-year median ratio was 72.2%. And that, in a nutshell, is why the market is tumbling today - the biggest buyers of stock in the past 2 years, the corporations themselves, just priced themselves out of the market and no longer generate the cash needed to push their own stock to new all time highs.
Submitted by Tyler Durden on 09/22/2015 - 14:30 Allegedly spotted on Sand Hill Road and the West Side Highway...
Submitted by Tyler Durden on 09/22/2015 - 09:34 From a financial market psychology standpoint it is however very important that central bankers don’t appear clueless. A majority of market participants needs to be able to suspend disbelief to an sufficient extent, i.e., they must be able to share in the collective hallucination that central bankers actually do know what they are doing. When it is no longer possible to maintain this facade, many things are likely to be suddenly questioned – and among these is the question whether it makes sense to remain exposed to yet another gargantuan asset bubble.
Submitted by Tyler Durden on 09/22/2015 - 14:12 "The dissenters were the ministers representing the Czech Republic, Hungary, Romania and Slovakia. Under European law, three of the countries — the Czech Republic, Romania and Slovakia — would be required to accept migrants against their will, said one European Union diplomat, who spoke on condition of anonymity shortly after the vote."
Submitted by Tyler Durden on 09/22/2015 - 13:50 That’s what yesterday’s Bullard Rip was all about - it amounted to the bell at the top. In time it will become evident that the market is unable to break-out of the bubble finance channel it has established between 2075 and 2125 over the past year. When December comes around and the Fed has to explain the growing signs of global and domestic recession, the robo-machines will have grown themselves an altogether new set of programs. Namely, an algorithm that says any day the Eccles Building is open for business is a good day to sell.
Submitted by Tyler Durden on 09/22/2015 - 13:38 The Nasdaq was the last great hope holding on to positive returns in 2015... until this morning.. and as Nasday went red YTD, panic-buying ensued slamming TRIN near record highs...
Submitted by Tyler Durden on 09/22/2015 - 13:30 "There is a chance that the Fed, like a number of central banks in recent years, may find it impossible to escape the effective lower bound to which policy rates were cut during the dark days of the crisis some seven years ago."
Submitted by Tyler Durden on 09/22/2015 - 13:15 In the last non-Bill auction conducted by the US Treasury two weeks ago, many were surprised to see a surge of interest for 30 Year paper. Then after the Fed refused to hike rates sending the long yield plunging, it suddenly all became very clear. Fast forward two weeks to today's just concluded auction on the other end of coupon paying US paper, namely the issuance of $26 billion in 2 Year paper. And while a month ago, the 2 Year left a lot to be desired, today's issue was positive euphoric, pricing at 0.699% 0.3 bps through the When Issued, with a Bid to Cover of 3.269, solidly above last month's 3.164 which was the lowest since October.
Submitted by Tyler Durden on 09/22/2015 - 12:50
Submitted by Tyler Durden on 09/22/2015 - 12:43 Germany’s ZDF public television network headlines on Tuesday September 22nd, "New U.S. Atomic Weapons to Be Stationed in Germany," and reports that the U.S. will bring into Germany 20 new nuclear bombs, each being four times the destructive power of the one that was used on Hiroshima. Hans Kristensen, the Director of the Nuclear Information Project at the Federation of American Scientists, says, "With the new bombs the boundaries blur between tactical and strategic nuclear weapons.”
Submitted by Tyler Durden on 09/22/2015 - 12:31 One of the more remarkable characteristics of American life is our passive acceptance of systems that are so obviously completely insane. Yes, I refer to our healthcare system, a.k.a. sickcare because in America sickness is profitable and health is not, and healthcare profiteering that would be the envy of pirates and warlords everywhere is the norm.
Submitted by Tyler Durden on 09/22/2015 - 11:55 "We are heading towards disaster" exclaims UKIP's Nigel Farage in this brief clip. Having warned for months about both the consequences of actions and the EU's disastrous policies, the flood of immigrants, Farage warns "we face a direct threat to our civilization if we allow large numbers of people from that war-torn region into Europe." Simply put, he fears within EU policy "there is no way to filter out extremists in favor of people fleeing in genuine fear of their lives," and suggest following the Australian policy.
Submitted by Tyler Durden on 09/22/2015 - 11:35 Today's Glencore implosion is a far greater risk to the capital markets and the global economy than Volkswagen: a few executive resignations, a few bribes to US Congress, and the scandal will be promptly snuffed. For Glencore, however, which suddenly the entire world realizes is - as we said in March 2014 - the way to trade China, it may now be too late.
Pentagon Warns Of Russia-Iran "Nexus" In Syria: "We Assume Russia Is Coordinating With The Iranians"Submitted by Tyler Durden on 09/22/2015 - 11:10 “We assume [the Russian buildup in Syria is] being coordinated with the Iranians. What we are seeing now is that there is some sort of Iran nexus."
Submitted by Tyler Durden on 09/22/2015 - 15:50
Submitted by Tyler Durden on 09/22/2015 - 15:49
Donald Trump says that the pay of U.S. CEO’s (and other, senior management) is “disgraceful”. Why should we care about the opinion of a corrupt, ego-maniacal buffoon like The Donald? Because this Buffoon is running for president of the United States, and Americans love buffoons.
Homer Simpson. Peter Griffin. Donald Trump. It’s not possible (yet) for Americans to vote for their favorite cartoon character, so The Donald is the next-best-thing. When Trump says something, it’s not “more important” that he said it, it is simply that because he is a buffoon, when he says something it actually penetrates the thick skulls and brainwashed minds of the U.S. serf population.
by Andy Hoffman, Miles Franklin:
In what could be the most ominous statement regarding the global economic future of all time, Chinese President Xi Jinping this morning said “this summer’s Yuan devaluation was needed to defuse systemic risks.” In other words, not only proving how vulnerable the world is to even the slightest alteration of the cancerous status quo – in suggesting a mere 5% devaluation was required to stave off collapse; but demonstrating how utterly clueless the “leaders” of the world’s most powerful (and in most cases, insolvent) financial entities have become.
To wit, there’s a reason I predicted said Yuan devaluation – both four months prior, and that very day – would be the “upcoming, cataclysmic, financial big bang to end all big bangs.” And trust me, despite the PBOC’s comical lies statements to the contrary, the first 5% was just “jacks for starters”; as a desperate China does everything in its power to “win” the “final currency war” I warned of nearly three years ago, by devaluing the Yuan into oblivion. Heck, even China’s own state-owned agencies are assuming a 20% devaluation in their forecasts. And if said “systemic risks” were assuaged by a 5% devaluation, why did the head of the state-owned China Banking and Regulatory Commission this morningespouse “the current situation is more severe than the 2008 financial crisis?” And trust me, when the Chinese do inevitably devalue – by at least 20%, likely in the next 6-12 months, as the global economic collapse accelerates – you’ll know exactly what I mean by “cataclysmic,” regarding financial markets; commodities; currencies; and political, geopolitical, and social unrest.
Hey, stay right there. I’m really happy to be here. If you know me or if you’re brand new to this, I’m excited because number 1, I get to talk about what silver prices look like in the current reality versus the inevitable reality. Also this is the first time that I’ve been able to present in this format, so I look forward to seeing how it goes. If you don’t know me…
The title of today’s; I know you like my slides, but the title of today’s program is Silver Price Illusion Versus Reality and we’ll talk about the convergence factors that I think are going to tip the balance from the current price illusion or reality that we live in right now and where we’re headed. Before we get started, I want to hear from you. I want to connect with you. Please if you could, type your name into the chat box either to your right or below, depending on how you’re watching this, so I can know your first name and where you are. I’m Jeff Lewis. I’m in San Francisco, California and I want to acknowledge that where you are and what your name is.
The question of whether a surveillance society was looming on the horizon has been growing since Justice Douglas remarked in 1966, “We are rapidly entering the age of no privacy, where everyone is open to surveillance at all times; where there are no secrets from government.”  Early in the new millenium, only about 33% of Americans were concerned about their online data as of 2009.  Just a few years later, in 2015, polls show 54% disapprove of government surveillance of telephone and Internet data. Most seem to feel that they have no control over their personal data, with only nine percent (9%) stating that they feel they have a lot of control over their data. Those who have more knowledge of the degree of surveillance that exists are more likely to indicate that they have no control.
Is the current refugee crisis gripping the European Union “all America’s fault”? That is how my critique of US foreign policy was characterized in a recent interview on the Fox Business Channel. I do not blame the host for making this claim, but I think it is important to clarify the point.
It has become common to discount any criticism of US foreign policy as “blaming America first.” It is a convenient way of avoiding a real discussion. If aggressive US policy in the Middle East – for example in Iraq – results in the creation of terrorist organizations like al-Qaeda in Iraq, is pointing out the unintended consequences of bad policy blaming America? Is it “blaming America” to point out that blowback – like we saw on 9/11 – can be the result of unwise US foreign policy actions like stationing US troops in Saudi Arabia?