Submitted by Tyler Durden on 09/30/2015 - 22:43
Is it ever legal to shoot cops? A growing number of states are passing laws that say that yes, in fact, sometimes it is well within a citizen’s rights to shoot a police officer.
Submitted by Tyler Durden on 10/01/2015 - 11:15 "He deliberately tries to do things to throw opponents off balance and he’s always trying to get some sort of element of surprise and tactical advantage over people, that’s sort of what keeps him going is this constant springing surprises and flipping events in his favor."
Submitted by Tyler Durden on 10/01/2015 - 12:05
Submitted by Tyler Durden on 10/01/2015 - 12:03 Yesterday, when the Atlanta Fed boosted its Q3 GDP tracker from 1.4% to 1.8%, the permabulls were crowing how the global recession has been called off. We are confident they will be mysteriously mute, however, following today's dramatic revision lower which cut the number for the current quarter by half to just 0.9% as a result of the previously reported tumble in the advance report on U.S. international trade which slashed the Atlanta Fed's model contribution of net exports to third-quarter real GDP growth by 0.7 percentage points to -0.9%.
Submitted by Tyler Durden on 10/01/2015 - 11:47 In August, hedge funds blamed risk-parity funds for their dramatic underperformance. In September, the underperformance continued however this time, with risk-parity funds supposedly buying stocks, one can't blame them. To be sure, some such as Ackman whose 20 million shares of Valeant are hurting badly, will blame the Martin Shkrelis of the world for the biggest biotech tumble in years, but others may have to bite the bullet and admit it is their own lack of ability to come up with alpha in a centrally-planned "market" that is the reason.
Submitted by Tyler Durden on 10/01/2015 - 11:24 Germany's DAX has given back all of yesterday's exuberant month-end gains and more to suffer the worst start to Q4 since 2009 (and actually worse than 2007 and 2008)...
Submitted by Tyler Durden on 10/01/2015 - 11:13 It’s no coincidence that consumer sentiment stumbled at the same time that the stock market plunged. Coming back from Summer vacations, households saw:
- The deepest drop in 401K wealth in years
- The most prolonged drop in years
Submitted by Tyler Durden on 10/01/2015 - 10:45
Submitted by Tyler Durden on 10/01/2015 - 10:20 Bill Richardson could teach Donald Trump something about the art of the deal. He has done a lot of them. At present Richardson sees one of his deals in jeopardy, and he was in Washington last week to raise the alarm, meeting privately with former colleagues and appearing at a press conference at the National Press Club. The deal in jeopardy involves a commitment he made, when he was secretary of Energy in the Clinton administration, with the Russians to dispose of weapons-grade plutonium, the long-lived ingredient in nuclear weapons.
Submitted by Tyler Durden on 10/01/2015 - 10:06 Following Manufacturing PMI's weakness and ADP's Manufacturing employment weakness (and six regional Fed surveys' weakness), ISM printed 50.2 (the 3rd miss in a row and lowest since May 2013). Under the surface was a disaster with New Orders collapsing (unadjusted are weakest since before 2013) with just 22% saying New Orders are better (the lowest since August 2012).
Submitted by Tyler Durden on 10/01/2015 - 09:52 Given the fact that for the first time since the recession, manufacturing has added zero jobs this year, that ADP just saw a drop in manufacturing jobs, Markit reports September US Manufacturing PMI has stagnated for the last 2 months at 2 year lows (printing 53.1 final vs 53.0 prelim). Worst still, and confirming even further the demise of the US manufacturing "renaissance", the Employment sub-index dropped to 50.8 - the lowest since June 2013. As Markit sums up, "The Fed is therefore likely to keep an open mind as to whether tighter policy is appropriate given current economic conditions and await a clearer idea of the health of the economy in the fourth quarter."
Submitted by Tyler Durden on 10/01/2015 - 09:35 Each and every day, we are witnessing the ongoing global selloff inflict more and more damage to the post-2009 cyclical bull market. And while that bull may not be declared dead for some time, it is now being wounded enough daily to warrant very seriously considering that possibility.
Submitted by Tyler Durden on 10/01/2015 - 09:13 "... the fact that our International Index has rallied 2% from its lows and now has rallied for two days in a row has our interest and does give us reason to pause in our bearish perspective."
Submitted by Tyler Durden on 10/01/2015 - 08:56 It has not been a good year for retail currency broker FXCM which in January faced massive losses in the aftermath of the shocking Swiss Franc revaluation. In fact, only a $300 million bailout from Jefferies/Leucadia allowed the currency trader to meet regulatory requirements and continue operations. Then, this morning, FXCM clients woke up with even more headaches when the currency broker admitted it had been hacked, leading to a "small number" of unauthorized wire transfers from customers’ accounts.
Does Not Compute: DOL Continues To Paint Rosy Jobless Claims Picture As Challenger Sees "Surge" In UnemploymentSubmitted by Tyler Durden on 10/01/2015 - 08:43 Does not compute. That may be the best way to summarize the discrepancy between the statistically-massaged, seasonally-adjusted initial claims data reported by the DOL, and what Challenger reported just an hour earlier when it said that U.S.-based employers announced plans to shed 58,877 in September, a 43 percent increase from the previous month. Worse, for 2015 YTD, employers have announced 493,431 planned layoffs, 36 percent more than the 363,408 cuts tracked from January through September a year ago. Someone is lying.
Submitted by Tyler Durden on 10/01/2015 - 08:21
Submitted by Tyler Durden on 10/01/2015 - 08:05
Submitted by Tyler Durden on 10/01/2015 - 07:36 BOJ IS SAID TO SEE LITTLE IMMEDIATE NEED FOR ADDING STIMULUS
BOJ OFFICIALS ARE SAID TO WANT CHANCE TO SEE MORE DATA
Submitted by Tyler Durden on 10/01/2015 - 07:28
- After Rough Quarter, Investors Buckle Up (WSJ)
- From heroes to bystanders? Central banks' growth challenge (Reuters)
- Russian Airstrike in Syria Targeted CIA-Backed Rebels, U.S. Officials Say (WSJ)
- Kremlin says Syria air strikes target list of groups, not just Islamic State (Reuters)
- That’s information warfare? Russia accused of killing civilians in Syria (RT)
- Euro zone factory growth eases in August despite modest price rises (Reuters)
- How Glencore's Crazy Month Makes Greek Banks Look Tame (BBG)
Submitted by Tyler Durden on 10/01/2015 - 07:06 "Please remember, these people are our neighbors and friends. You have a skill that will be very much in need when this goes down. You are experts in the job market and you know what it takes to get hired. This is a time for us to step up and do what we can to help."
Another sad chapter from a desperate imperial empire lays naked for the entire world to see. The pretense that an international community of nations has arbitrary authority to remove any government that conflicts with the master plan of total global enslavement exposes the utter failure of legitimacy. By what moral mandate do belligerent nations have to insight regime change, when the facts clearly demonstrate that conflicting tribal factions are engaged in a civil conflict?
The psychosis exhibited by the War Party and their allies for domination of world energy resources is at the core of a hostile and malevolent foreign policy. The drive to eliminate Muammar Gaddafi and colonize Libya’s oil into friendly corporatist hands is a game that is again, repeated under the guise of humanitarian intervention.
Part I of this series ended with an example of what Big Business does best: corporate blackmail:
U.S. Steel Canada Inc. is threatening to cease operations in Canada by the end of the year if an Ontario Superior Court judge rejects its request to stop paying municipal taxes, halt payments into pension funds, and cut off health care and other benefits to 20,000 retirees and their dependents. [emphasis mine]
Such corporate blackmail and welfare, in smaller and larger forms, occurs hundreds of times every year, across the Western world, with dozens if not hundreds of these corporate fronts robbing from our governments (and thus us). How did we ever get to this point?
It’s not like stocks need any additional problems. But they’re getting them.
On Monday, junk bonds suffered their worst sell-off since October 6, 2011, according to S&P Capital IQ LCD’s index of “high-yield flow names.” The index is comprised of large junk-rated companies, including Charter Communications, Chrysler, Dish Network, Dollar Tree, First Data, Reynolds Group, Rite Aid, Sprint, and Valeant Pharmaceuticals.
The average bid plunged 246 basis points from 94.44 cents on the dollar to 91.98. The worst plunge and the worst level since that infamous October 6, 2011, when a flare-up of the euro debt crisis wreaked havoc in the global markets. The average yield jumped to 8.62%. Almost all of the components of the index were in the red. LCD:
In a stunning move, the Teamsters Union wants to meet with Donald Trump before endorsing Hillary Clinton for president. The move is uncharacteristic of the Teamsters Union, which has historically endorsed Democrat Party nominees.
The union backs up their endorsements with millions of dollars of contributions to Democrats each year. In 2014, their budget for Democrats, Democrat Pacs, and Democrat candidates exceeded 3.6 million dollars.
The largest recipient of their political contributions is the Senate Majority PAC, whose purpose statementreads “Senate Majority PAC is fighting to take back the Democratic majority in the U.S. Senate.” That’s what makes the union’s desire to meet with Trump perplexing.
Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1115.50 down $11.60 (comex closing time)
Silver $14.51 down 5 cents.
In the access market 5:15 pm
I wrote the following last Thursday:
“On the 24th of September, the comex options expired but we still have the LBMA options as well as the OTC options. Expect gold and silver to be relatively subdued until Oct 1.2015.”