Submitted by Tyler Durden on 02/05/2016 - 09:24
According to the BLS' breakdown of jobs added in January of the 151,000 jobs added in the past month, retail trade added 58,000 jobs in January, while employment in food services and drinking places, aka waiters and bartenders, rose by 47,000 in January. In other words, 70% of the job gains in January went to minimum wage workers.
January Payrolls Miss Big, Adding Only 151,000 Jobs, But Hourly Wages Jump And Unemployment Slides To 4.9%Submitted by Tyler Durden on 02/05/2016 - 08:37 A quick glimpse at the big miss in the January payrolls report, which just reported only 151,000 jobs gains well below the 190,000 expected and below most big banks' expectations, if precisely on top of the whisper number, would have been sufficient to send futures soaring in the pre market: after all it would mean the economy has topped out and no more hikes are necessary. However, one glance below the headline and things get troubling because if indeed the Fed is most focused on the growth in hourly wages then we may have a problem: average hourly wages jumped by 0.5%, far above last month's unchanged print, and quite a bounce to the expected 0.2%, suggesting wage inflation is starting to heat up and putting the Fed in a very uncomfortable place.
Submitted by Tyler Durden on 02/04/2016 - 23:41 Literally days after he predicted oil would double from its $26 "bottom", Pickens told Bloomberg that he has cashed out.
This MUST have been a terrorist act...everything else is...
As CBS reports, it happened just before 8:30 a.m. on Worth Street near Church Street in TriBeca. There are reports of people possible trapped in cars. Fire officials said at least three people were injured, two of them critically.
Submitted by Tyler Durden on 02/05/2016 - 09:02 The most obvious reaction to the "great" drop in the unemployment rate and "huge miss" in payrolls is a rise (yes rise) in rate-hike odds for 2016. This appears to be why the Dollar is spiking and bonds, stocks, crude, gold and everything else is being sold...
This has not been a good week for Hillary Clinton.
She prevailed over Sen. Bernie Sanders in the Iowa Democratic presidential caucuses by less than four tenths of one percent of all votes cast, after having led him in polls in Iowa at one time by 40 percentage points.
In her statement to supporters, standing in front of her gaunt and listless looking husband, she was not able to mouth the word “victory” or any of its standard variants. She could barely hide her contempt for the Iowa Democrats who disserted her.
Submitted by Tyler Durden on 02/05/2016 - 08:45 “I do not know any progressive who has a super PAC and takes $15 million from Wall Street."
“Enough is enough. If you’ve got something to say, say it."
Submitted by Tyler Durden on 02/05/2016 - 08:22 Peter Pan(ic) policy has apparently reached its limit. USDJPY continues to slide despite Kuroda unleashing NIRP, dropping the "whatever it takes" and "no limits" tape bombs, and today's Abe advisor Honda headlining with BoJ's next steps may include more NIRP and more QQE... It's over!
Submitted by Tyler Durden on 02/05/2016 - 08:13 With China now closed for all intent and purpose for a week as Golden Week arrives, it appears The PBOC wanted to leave the market a message. Clear and direct intervention in offshore Yuan has ripped it 800 pips higher in the last 2 days to its highest since mid-December and stronger than onshore Yuan. However, while PBOC may have won this battle, surging CDS suggest the currency war is far from over.
Submitted by Tyler Durden on 02/05/2016 - 08:06 "Having been manifestly bearish of crude oil over the course of the past many, many months we are moving to the sidelines in light of the “reversal” to the upside staged by WTI and Brent crude yesterday and in light of the sharp move lower on the part of the contangos in both crude types."
- Dennis Gartman
Submitted by Tyler Durden on 02/05/2016 - 07:53
Submitted by Tyler Durden on 02/05/2016 - 06:55 US futures were largely unchanged overnight, with a modest bounce after the European close driven by a feeble attempt to push oil higher, faded quickly and as of this moment the E-mini was hugging the flatline ahead of today's main event - the January payrolls, expected to print at 190K and 5.0% unemployment, however the whisper number - that required to push stocks higher - is well lower, at 150K (according to DB), as only a bad (in fact very bad) jobs number today will cement the Fed's relent and assure no more rate hikes in 2016 as the market now largely expects.
Submitted by Tyler Durden on 02/04/2016 - 23:05 "... if China FX reserves data is better than expected, we think a bear market rally is likely to be vicious."
Submitted by Tyler Durden on 02/04/2016 - 22:55 “If some fund manager in Texas is saying that your currency is dramatically overvalued, you shouldn’t care on a $10 trillion economy with $34 trillion in your banks. I have, call it a billion - it’s so small it should be irrelevant and yet somehow it’s really relevant.”
Submitted by Tyler Durden on 02/04/2016 - 22:45 If you fight, then there is a chance. If you do not fight, then failure is guaranteed. The "odds" are irrelevant. How you fight (fighting smart) is the only matter of importance.
Submitted by Tyler Durden on 02/04/2016 - 22:17 Recently we joked that it is unclear just where Venezuela will find all the paper banknotes it needs for all its new currency. And, as if on cue, the WSJ answered. As it turns out we were not the only ones wondering how the devastated "socialist paradise" gets its exponentially collapsing paper currency, which in just the past month has lost 17% of its value. The answer: 36 Boeing 747s.
As bad as the month of January was for the global economy, the truth is that the rest of 2016 promises to be much worse. Layoffs are increasing at a pace that we haven’t seen since the last recession, major retailers are shutting down hundreds of locations, corporate profit margins are plunging, global trade is slowing down dramatically, and several major European banks are in the process of completely imploding. I am about to share some numbers with you that are truly eye-popping. Each one by itself would be reason for concern, but when you put all of the pieces together it creates a picture that is hard to deny. The global economy is in crisis, and this is going to have very serious implications for the financial markets moving forward. U.S. stocks just had their worst January in seven years, and if I am right much worse is still yet to come this year. The following are 22 signs that the global economic turmoil that we have seen so far in 2016 is just the beginning…
Plunges like this only occur when something big is going on.
The restaurant industry has been unscathed by the economic slowdown. The meme is that Millennials like to spend their money on “experiences” – such as eating out, drinking at their favorite watering holes, and going places (and eating out) – rather than buying stuff, particularly stuff at brick-and-mortar stores.
These brick-and-mortar stores have been singing the blues of dismal sales, earnings warnings, layoffs, and store closings as consumers refuse to splurge. And to add insult to injury, consumers have been shifting their spending online. But the restaurant industry has been flying above the fray, benefiting from Millennials’ preference for “experiences.”
by Jeff Nielson, Sprott Money:
Bloomberg News recently made an astounding proclamation in a news release , by nothing less than postulating a return to a gold standard. Let me repeat. Bloomberg, a part of the mainstream media propaganda machine which often bashes all things related to gold (including the gold standard), is now advocating a return to a gold standard.
However, a major caveat must be attached to this astonishing revelation. This media tentacle was not advocating that we abandon our fraudulent, fiat currency Ponzi-scheme and return to a gold standard at the global level. Rather, it was only advocating a quasi-gold standard, domestically, and in just one nation.
from Sputnik News:
One of the possible causes for the spread of the deadly Zika virus outbreak could be the use of biological warfare, Russia’s former Chief State Sanitary Physician Gennady Onishchenko said Tuesday.
On Monday, the World Health Organization declared the Zika virus outbreak a “public health emergency of international concern,” after previously warning that the virus would likely infect up to 4 million people.
In a breaking development that has been completely ignored by mainstream news sources, the leaking natural gas well near Los Angeles, California is now reportedly spewing lethal levels of radioactive material, according to a report from Steve Quayle and a group with expertise in nuclear material.
A leaking natural gas well outside Los Angeles is spewing so much naturally-occurring Uranium and Radon, that “breathable” radiation levels have hit “lethal levels” according to a Nuclear Expert group.Hal Turner of Super Station 95 reports that the well is releasing 1.91 Curies (Ci) of radiation per hour.
Future generations will look back at McDonalds with horror. They will be astonished at the sick and twisted science experiment on the world’s population, making millions of people sick in the process.
McDonalds Corporation, the world’s leading dealer of GMOs and Frankenfoods, is teetering on the brink of financial collapse thanks to a global awakening regarding the dangers of toxic, commercially processed “food.”
“People around the world are waking up to the fact they have been conned by McDonalds,” said John Grits, a restaurant industry consultant with Food Consultants Group. “The Golden Arches are rotten to the core and now they have started crumbling.” According to an Associated Press review of the corporation’s regulatory filings, McDonalds closed over 700 stores last year and suffered an 11 percent decrease in revenue and 30 percent drop in profit. For corporations the size of McDonalds, falls in profit of 2 to 3 percent can have enormous ramifications. 30 percent? We are talking irreversible terminal decline, according to industry experts.
A recent study conducted by Dr. Nancy Swanson and the President of the International Federation of Organic Agriculture Movements (IFOAM), Andre Leu, has reinforced what many have been convinced of all along: glyphosate, the main ingredient in Monsanto’s herbicide Roundup, is lethal. Their correlation study determined that it’s lethal even in small amounts, debunking the notion in which some people suggest that its levels are so low that it can’t possibly damage health.
The study, titled “Genetically engineered crops, glyphosate and the deterioration of health in the United States of America,” was published in the Journal of Organic Systems. First, United States government databases were reviewed to find GE crop data, disease epidemiological data and glyphosate application data. Then, the team conducted correlation analyses on 22 diseases in these data sets which revealed the disturbing discovery that the ingredient is indeed wreaking havoc on people’s health.