“Steve Jobs” didn’t just bomb this weekend, it BOMBED. Although director Danny Boyle’s biopic sits in nearly 2500 theaters and was predicted to clear around $12 million, according to Deadline, by Monday the $30 million film (closer to $60 million with distribution costs) will bottom out at $7 million.
It wasn’t supposed to be like this.
Not even close.
Russia Takes Over The Mid-East: Moscow Gets Green Light For Strikes In Iraq, Sets Up Alliance With Jordan
- China export trade: ?8.8% year to date
- China import trade: ?17.6% year to date
- Industrial output crude steel: ?3% year to date
- Cement output: ?3.2% year over year
- Industrial output electricity: ?3.1% year over year
Submitted by Tyler Durden on 10/24/2015 - 19:25 Free stuff? While Bernie is sincere about "helping people," as Ben Garrison notes, it's the middle class and poor will pay for it. There's no such thing as a free lunch, but real freedom is worth preserving.
Submitted by Tyler Durden on 10/24/2015 - 18:55 Yes, the United States is one of the greatest places in the world... to be a consumer. If you want to shop, spend, and consume, the US is pretty damn near #1 in the world. But if you want to build. If you want to create. If you want to be a producer in the United States... it’s a whole different story.
sending robots into the Fukushima nuclear reactor (and seeing them mysteriously die), perhaps this is the reason why Japanese officials have decided to re-start the building of a huge ice-wall for 'containment'. As Fukushima Diary reports, TEPCO’s camera caught a possible aquatic living creature in retained coolant water of Reactor 3.
Submitted by Tyler Durden on 10/24/2015 - 17:30 The previous Bubble was of the Fed’s making, and our central bank lost control. It became a Hobson’s Choice issue in the eyes of the Fed, and they fully accommodated the Bubble. These days, the Fed and global central bankers face a similar but much more precarious Bubble Dynamic: The Fed specifically targeted higher securities market prices as its prevailing post-mortgage finance Bubble (“helicopter money”) reflationary mechanism. This ensured that the Fed would again be unwilling to impose any monetary restraint before it would then become too risky to remove accommodation (Einstein’s definition of insanity?). In concert, global central bankers now aggressively accommodate financial Bubbles.
Submitted by Tyler Durden on 10/24/2015 - 16:45 Far from being some trivial problem that can be fixed by pressing "print", central banks operating from a negative equity position face the possibility of i) losing their independence as they have to be recapitalized at the behest of the government, ii) being forced into policy decisions (or, perhaps more appropriately "in"decisions) that they might not otherwise make, and iii) losing the ability to control the narrative, thus heightening market concerns about the loss of omnipotence.
Submitted by Tyler Durden on 10/24/2015 - 15:58 It’s no secret that the Social Security system is effectively one giant Ponzi scheme. Actually, I think it’s worse. That’s because the government uses force and the threat of force to coerce people into it. People don’t have the option to opt out. They either pay the tax for Social Security or someone with a gun will show up sooner or later. I imagine Bernie Madoff’s firm would have lasted a lot longer had he been able to operate this way.
Submitted by Tyler Durden on 10/24/2015 - 15:15
Submitted by Tyler Durden on 10/24/2015 - 14:30 America is a nation divided, not only upon the means we should use to attain our ends in the world, but upon the ends themselves.
Submitted by Tyler Durden on 10/24/2015 - 13:43 "Three topics dominated our client discussions this week: (1) Hedge fund performance in the wake of the collapse in Valeant Pharmaceuticals (VRX) during the past five days; (2) cash return to shareholders, especially buyback activity; and (3) 3Q results."
Submitted by Tyler Durden on 10/24/2015 - 13:00 Equity markets have not priced a meaningful slowdown in global corporate earnings. They are still pricing in central banker commentary... for now. History teaches us that equity turbulence accompanied by meaningful economic softness often marks the turn from a secular bull market in to a bear market.
John Whitehead in the article below points out that American public schools are like prisons. The wardens of the schools focus on punishment and ruining the lives of children, not on education.
Parents who can afford it put their children in private schools, and those who can’t homeschool their children if they have the capability and do not have to work several part time jobs in order to make ends meet.
The situation that John Whitehead describes is real. The schools today bear no resemblance whatsoever to the schools I experienced. The horrors inflicted on children and parents by the public schools tell us a lot about ourselves. While Americans waved the flag and mouthed plattitudes about “freedom and democracy,” they were rounded up and confined to a police state.
As stock markets sky rocketed to new highs one particular asset remained off the radar of most investors. For the last several years gold has been all but ignored by both Wall Street and Main Street. It’s been so bad, in fact, that many of the world’s leading gold producers are reducing staff and some have even resorted to entering unrelated business ventures like marijuana and hair care product sales just to stay afloat. From an investment standpoint, gold is laying motionless on the street and bleeding out.
This veritable blood in the streets scenario suggests that some major trend changes are upon us. With economic conditions around the world worsening and governments running out of options to keep the system stabilized, people are once again starting to take notice of this 6,000 year old relic as a safe haven.
Is there any hope for America and its middle class? I scoured the statistics with regard to the economic health of the middle class. And what I discovered is that there is not much of the middle class. We are a nation of falling wages and job opportunities and the effects are spinning through the economy.
Last year, a friend asked me to recommend his daughter a major as she was about to begin college this fall. I thought for a moment and answered “welfare”. The father was quite taken back as I took out my IPAD and forwarded him some of my files which contains our recent economic statistics.
Grant’s Interest Rate Observer founder Jim Grant discusses the price of gold. He speaks on “Bloomberg Markets.” (Source: Bloomberg)
by Russell Bentley, The News Doctors:
If you are under 21, do not read this. If you are over 21, you have a moral obligation to read this, and view the photos, to look into the depths of human depravity, into the face of pure evil, to ponder it, to understand it, because if you do not understand it, you cannot fight it, and if you do not fight it, you cannot defeat it. And if we do not defeat it, it will defeat us…
When I was on my way to Donetsk, I stopped in Rostov for a few days. I became friends with Mikael, the owner of the hostel I stayed at. He was a big, tough guy, a real Russian badass, tall, bald and muscular. He was also a veteran of the Russian Army, and a combat veteran of both Chechen wars. When I told him I was going to Donbass to fight fascists, he said ” War is bad”, and he meant it. I replied “Fascism is worse than war”. The story I am writing today explains what I meant by that…
Silver is finally showing some signs of life after suffering a dark year. The epically-bearish sentiment that bludgeoned this metal to major secular lows is cracking, with a strong rebound rally now underway. And this recent buying is likely just the earliest vanguard, as silver remains deeply undervalued relative to its primary driver gold. Silver will need an utterly massive upleg to fully mean revert to normal levels.
Silver has been out of favor for a long time, the last few years. And 2015 didn’t give beleaguered silver investors much hope. By late August, July’s extreme gold-futures shorting attack had dragged silver down to a major 6.0-year secular low. Down 9.9% year-to-date at that dark nadir, silver was left for dead by traders. The despair was real, as it certainly felt like silver was doomed to keep grinding lower forever.