Submitted by Tyler Durden on 09/04/2015 - 09:13 "There is a general understanding that joint efforts in the fight against terrorism should go hand by hand with the political process in Syria. Assad agrees to this and has also agreed to early parliamentary elections and to include healthy opposition."
Submitted by Tyler Durden on 09/04/2015 - 09:59
Submitted by Tyler Durden on 09/04/2015 - 08:56 According to the BLS, the main reason why the unemployment rate tumbled to the lowest since April 2008 is because another 261,000 Americans dropped out of the labor force, as a result pushing the total number of US potential workers who are not in the labor force, to a record 94 million, an increase of 1.8 million in the past year, and a whopping 14.9 million since the start of the second great depression in December 2007.
August Payrolls Miss, Rise Only 173K, Even As Prior Revised Higher; Hourly Earnings Rise More Than ExpectedSubmitted by Tyler Durden on 09/04/2015 - 08:35 The "most important and anticipated payrolls number ever", or at least since the last payroll number, is out and it is a doozy at only 173K, it is a huge miss to the 217K expected (and almost in line with LaVorgna's forecast). This was the worst monthly payrolls number since Marhc, and the second lowest number in 19 months. However, the curious twist is that the July and June NFPs were both revised higher to 245K, making the net revision up The unemployment rate dropped to just 5.1%, below the 5.2% expected, and well below July's 5.3%, further boosting the Fed's case that labor slack is evaporating.
Submitted by Tyler Durden on 09/04/2015 - 08:53 Update - Equity market weakness is accelerating...
September rate hike probability jumped up to 34% (and December 62%) following the 'headline' positive payrolls print. The market is reacting very hawkishly to the data with USD surging, bonds and stocks selling off and commodities leaking lower.
Submitted by Tyler Durden on 09/04/2015 - 09:39 With the refugee crisis in Europe reaching epidemic levels and European leaders impotent, it appears an Egyptian Billionaire has a solution. As Al-Arabiya reports, Naguib Sawiris has offered to buy an island off Greece or Italy and develop it to help hundreds of thousands of people fleeing from Syria and other conflicts.
Submitted by Tyler Durden on 09/04/2015 - 09:31 If wage growth for supervisory workers was indicative of the overall work force, the Fed could indeed claim mission accomplished and hike not 0.25% but 2.5%. There is a problem: supervisory workers only make up 17.5% of the US work force. As such, their wage gains are anything but indicative of the vast 140 or so million US workers. What about the wages for the remaining 82.5% of US workers: the non-supervisory one. Here is the answer...
Submitted by Tyler Durden on 09/04/2015 - 08:19 With just 20 minutes to go until the latest most important jobs report ever in the history of man, Richmond Fed Chief Lacker just explained why "the case for raising rates is still strong"...
LACKER: BOTH MANDATE CONDITIONS 'APPEAR TO HAVE BEEN MET', EXCEPTIONALLY LOW RATES NO LONGER WARRANTED BY JOB MKT
LACKER: AUG. JOBS REPORT UNLIKELY TO `MATERIALLY ALTER' PICTURE
But perhaps most crucially, Lacker explains "recent financial market volatility is unlikely to affect economic fundamentals in the United States and thus has limited implications for monetary policy," removing the one last leg for permabulls to rely on (that is if you velieve The Fed is not Dow-Data-Dependent).
So many people have been following the story of the Tianjin chemicals plant explosion that my inbox was inundated with articles. The reason? Well, briefly, the Tianjin explosion was followed by yet another explosion and China, and then, by an explosion at a US military base in Japan:
Caught On Tape: Massive Explosion At US Weapons Depot In Japan
Huge explosions at US army base in Japan as warehouse burns and emergency services rush to scene
Two weeks ago, I ran an exclusive Natural News story announcing that a covert war between China and the USA had begun. The war started as a currency and debt war, then escalated into the catastrophic Tianjin explosion carried out by the U.S. Pentagon in a “kinetic retaliation” strategy, according to sources.
It wasn’t long after the Tianjin explosion that a second explosion rocked the Chinese province of Shandong, sending “coincidence theorists” into a hissy fit because suddenly a pattern of explosions was emerging that could not simply be explained away as sheer chance.
filed under (unt
Hillary Clinton’s dominoes appear to be toppling over as the Federal Bureau of Investigation (FBI), inspectors general from a number of government agencies, and a equally large number of non-governmental organizations (NGOs) that investigate and expose government corruption intensify their investigations of Clinton and her minions, according to news reports on Thursday. While the focus of the probe is Clinton’s privately-owned Internet server being used for the transfer of classified intelligence, the probe may also encompass her husband’s financial bonanza allegedly accumulated through speeches for foreign entities with whom his wife conducted State Department business as the Secretary of State.
Submitted by Tyler Durden on 09/04/2015 - 08:09 Three words - retest the lows!
Submitted by Tyler Durden on 09/04/2015 - 07:51 As WSJ reports, "Chinese navy ships off the coast of Alaska in recent days weren’t just operating in the area for the first time: They also came within 12 nautical miles of the U.S. coast, making a rare foray into U.S. territorial waters, according to the Pentagon."
Submitted by Tyler Durden on 09/04/2015 - 06:42 Moments ago, US equity futures tumbled to their lowest level in the overnight session, down 22 points or 1.1% to 1924, following both Europe (Eurostoxx 600 -1.8%, giving up more than half of yesterday's gains, led by the banking sector) and Japan (Nikkei -2.2%), and pretty much across the board as DM bonds are bid, EM assets are all weaker, oil and commodities are lower in what is shaping up to be another EM driven "risk off" day. Only this time one can't blame the usual scapegoat China whose market is shut for the long weekend.
Submitted by Tyler Durden on 09/03/2015 - 22:40 America’s descent into totalitarian violence is accelerating. It is a land in which facts have been redefined as enemy propaganda, a land in which legally protected whistleblowers are redefined as “fifth columns” or foreign agents subject to extermination, a land in which America is immune from criticism and all crimes are blamed on those whom Washington intends to rule.
Submitted by Tyler Durden on 09/03/2015 - 22:05 The narrative of the omnipotent central banker continues to be questioned with China's inability to save its own market the latest incarnation of investors losing faith. Nowhere has the religious zealotry been more fervent than in trading Japanese stocks where Abe and Kuroda have broken every independent rule in their manipulation of wealth-giving stocks. However - it appears their time is up, as Bloomberg reports, foreigners dumped 1.43 trillion yen of Japanese equities in the three weeks through Aug. 28, Tokyo Stock Exchange data updated Thursday show. That’s the most for any three-week span on record, overtaking the period when Bear Stearns Cos. collapsed in 2008.
Christian Alexander Pean, a fourth-year medical student in New York City, had been anxiously texting his father in Houston throughout the morning to inquire about his younger brother, Alan Christopher Pean, a patient at St. Joseph Medical Center in Texas. The night before, on August 26, Alan had called his parents to tell them he was in the middle of a panic attack.
“We knew it was an acute mental health crisis,” Christian told Truthout. Alan’s parents implored their son to seek help, so Alan, a student at the University of Houston, drove himself to the hospital. While in the parking lot, he experienced a severe mental health episode and crashed into multiple parked cars. He was treated for possible injuries in the emergency room, and officially admitted to the hospital early the next morning, when he was transferred to the medical psychiatric ward on the eighth floor.
President Obama has now gotten enough Democratic senators to sustain a veto on the Iran nuke deal.
Never mind that the details of the deal are being kept secret. Never mind that the so-called side deal to inspect Iran’s military nuclear sites is not known to Secretary of State John Kerry. Remember, he told Congress he “did not have access” to them. It appears the details of UN inspections of Iran’s nuclear sites is also a secret to Congress. If you want to know what is really in the Iran deal, just listen to the Iranians. They have been consistent from the beginning and say their nuclear military sites are off limits and said it again this week. Also, the sanctions end when the deal is in place. The Iranians also get $150 billion to boot, and even the Obama Administration admits there is no way of stopping them from using that money to support terror. The Obama Administration is celebrating this as a big foreign policy victory. The majority of Congress, and this includes some Democrats, are against the deal. The majority of Americans are against the deal. It was not a choice between war and a deal. It should have been a choice between a deal and a better deal that actually would lead to stability and peace in the Middle East. This deal will speed up the war prospects in the region, not slow them down.
Goldbugs are bemused by reports that the European Union competition watchdog is investigating alleged ‘anti-competitive behavior’ by participants in the precious metals market.
But anybody who remembers how the EU broke up the cement cartel a couple of decades ago will know that this is a watchdog that has very powerful teeth. It’s fines can bankrupt even very large companies or banks.
Presidential frontrunner Donald Trump told CNN the United States would be obliged to defend Iran against an Israeli attack under the terms of the nuclear deal reached between the United States, the United Kingdom, Russia, France, China, Germany and Iran.
“You know, there is something in the Iran deal that people I don’t think really understand or know about,” Trump told CNN’s Don Lemon. “And nobody is ever to explain it that if somebody attacks Iran, we have to come to their defense.”
he markets are manipulated not only by China but by other monetary authorities as well, so we don’t know what the good professors at the central banks will do next. But investors should understand that when the 1987 crash happened, the market was grossly overbought from a longer-term perspective.
The Century’s Best Performing Asset
US dollar dominance finances Washington’s reckless spending, global militarism, its empire of bases, endless wars, corporate takeovers, as well as speculative excess creating bubbles and economic crises – at the expense of democratic freedoms and beneficial social change.
China, Russia and other nations increasingly trading in their own currencies pose a significant threat to dollar dominance. Mahdi Darius Nazemroaya explained Washington’s currency war on China, saying:
The Chinese are in the process of displacing the monopoly of the US dollar. They are dropping their US Treasury bonds, stockpiling gold reserves, and opening regional distribution banks for their own national currency.Read More
Planned Parenthood President Cecile Richards, whose organization is arguing states cannot defund Planned Parenthood, said in 2008 that when Planned Parenthood failed to get the federal government to defund abstinence programs, they pushed for the states to do it.
During a Ford Hall Forum in Boston on May 28, 2008, Richards was asked about abstinence-based education: “You said that this teaching of abstinence is 10 years old? And how did that get passed?” a member of the crowd questioned.