Democracy at its finest...
Russia Releases Video Of Turkey Shelling "Syrian Civilian Settlements", Demands "Immediate Explanation"“We expect an immediate reaction and explanations of the actions of Turkish military by NATO and the Pentagon"...
Submitted by Tyler Durden on 02/01/2016 - 15:00 "The Fed should, given recent events, simply admit its error of pre-emptively raising rates before both its employment and inflation mandates had been met, and reduce the Federal Funds rate back to zero, pending further improvements in the economy. Certainly, the Federal Reserve risks its credibility by admitting an error, but that is a far better outcome than risking recession by not doing so"
Submitted by Tyler Durden on 02/01/2016 - 14:10 WHO SAYS ZIKA, MICROCEPHALY 'PUBLIC HEALTH EMERGENCY' - HIGHEST LEVEL OF ALERT
From the initial discovery in the heart of Ugandan forest darkness to mysterious genetically-modified Mosquitoes in Brazil, the newest threat to human health (most notably pregnant women) is the ominous-sounding Zika virus. The epidemic is spreading from its epicenter in Brazil - threatening disaster at the Olympics with "female athletes to consider participation "very carefully"", to Colombia (with 2100 pregant women infected), and further north in America with CDC confirming 6 cases in Texas.
Submitted by Tyler Durden on 02/01/2016 - 13:30 China's mid-tier banks are piling up exposure to the riskiest subset of borrowers at a time when economic fundamentals are deteriorating on a near daily basis. Meanwhile, this exposure is being carried on a line item that allows the banks to avoid provisioning for the losses that will almost certainly materialize in the not-so-distant future. At one bank, this one line item is larger than the entire Philippine banking system.
Submitted by Tyler Durden on 02/01/2016 - 13:16 Today, none other than Bank of America's chief equity quant Savita Subramanian throws in the towel and admits that the best trade over the past several years has been precisely what we suggested several years ago: do the opposite of what the crowd does.
Submitted by Tyler Durden on 02/01/2016 - 13:15 There will be two key themes for investors seeking to shake off the abysmal "as goes January" blues: buybacks, which are set to return in February, and central banks, which are poised to do absolutely nothing to calm investor nerves in the next 4 weeks.
Submitted by Tyler Durden on 02/01/2016 - 12:50 Escape velocity has failed...
Submitted by Tyler Durden on 02/01/2016 - 12:31 Amid denied rumors of production cuts (and Goldman's dismissal), crude oil prices have jumped "August 2015 Andy Hall squeeze style" to 3-week highs. This 'change' in trend has hedge funds calling the bottom once again adding to bullish oil bets at the fastest pace since 2010 in the last week. However, most ironically, it appears the weak longs are being squeezed today as WTI crashes 6%.
Submitted by Tyler Durden on 02/01/2016 - 12:01 Whether front-running or fear-based (or both), the actions of BoJ's Kuroda last week have driven global bond yields into freefall with JPM's global index at 9-month lows and BofA's at 12-month lows. Overnight saw short-end JGBs push below the BoJ's -10bps threshold and 10Y rates push towards NIRP to record lows. German bonds extending their epic voyage into fantasy and hit new record lows across the curve with 5Y at -32bps.
Submitted by Tyler Durden on 02/01/2016 - 11:51 Passage of Senator Mitch McConnell’s authorization for war against ISIS will not only lead to perpetual US wars across the globe, it will also endanger our civil and economic liberties. The measure allows the president to place troops anywhere he determines ISIS is operating. Therefore, it could be used to justify using military force against United States citizens on US territory. It may even be used to justify imposing martial law in America.
Submitted by Tyler Durden on 02/01/2016 - 11:37 When Draghi speaks (or releases his statement), the algos obey.. and sell EURUSD. No new news at all - just a repeat of the same statements that "QE is deemed effective' (by whom we ask), and a recalibration is in order (as the situation has changed since December). His biggest problem from what we can tell is the fact that the banking industry's collapse augurs very badly for industrial production and an economic recession across Europe.
filed under "white trash"
Submitted by Tyler Durden on 02/01/2016 - 11:51 "I know how you get things done. I am a progressive who wants to make progress and actually produce real results in people's lives. That's what I'm offering."
Social Security was never designed as a long-term pension. It was implemented in 1935 during the Great Depression to assist families from falling into absolute poverty. The large work force dominated by men usually meant that many would die and leave a large family behind with no financial resources. Social Security was there to protect this group. But over the generations, Social Security is now seen as a retirement fund and many depend on it for their livelihood. Recent figures highlight that 44 percent of retirees on Social Security would be in abject poverty without this support. More to the point, the number one source of income for retirees in America is Social Security funds. So it might come as a troubling surprise that the Social Security fund ran a deficit last year for the first time since 1983.
The low price of silver has finally claimed is first victim. Endeavour Silver announced that it will cut silver production by 25% in 2016. The company has three mines working in Mexico and will produce 7.2 million oz (Moz) of silver in 2015. However, Endeavour plans to shut down production of one of their mines by the end of 2016 and put it on care and maintenance.
According to Endeavour Silver’s press release:
Endeavour’s mine plans for 2016 are focused on minimizing all-in sustaining costs and improving after-tax free cash flow rather than metal output. Silver production is expected to be in the range of 4.9-5.3 million oz, gold production will be in the 47,000-52,000 oz range, and silver equivalent production is forecast to be 7.9-8.5 million oz using a 75:1 silver:gold ratio, as shown in the table below.Read More
The Unicorn-believing Bulls will need the financial equivalent of The Catch just to avoid being skunked.
When I use the phrase Stupor Bowl, I refer not to the upcoming Super Bowl or the crazy mid-winter bicycle free-for-all in Minneapolis, but to the economic game of watching the Bear’s Recession Offense crush the Unicorn-believing Bulls.
Let’s follow the score here in the opening minutes of the Recession 2016 contest:
1. Sales have only one way to go: down. Touchdown Bears.
The overall goal of our emergency food pantry is to have a wide array of nutritious foods stored away in order to carry us through an emergency. In my book, The Prepper’s Cookbook, I wrote how firmly I believe in each household having an emergency food pantry. Whether those emergencies are from Mother Nature or if we have hit a rough patch in our lives, having food on hand will be less burdensome and will help free up money for other living expenses. The key is to a well-stocked pantry is to have lots of nutritious shelf stable foods at your disposal. Foods filled with lots of nutrition will carry you farther in an emergency than lots of junk foods.
For twenty years Micheal Rivero of What Really Happened has been exposing the lies and corruption emanating from the Federal government, Wall street bankers, and big business.
In his latest interview with Crush The Street he sounds one of his most dire warnings yet:
“When the economy implodes here in the United States it’s probably going to take the Federal government with it.”
I, Michael Hudson, John Perkins, and a few others have reported the multi-pronged looting of peoples by Western economic institutions, principally the big New York Banks with the aid of the International Monetary Fund (IMF).
Third World countries were and are looted by being inticed into development plans for electrification or some such purpose. The gullible and trusting governments are told that they can make their countries rich by taking out foreign loans to implement a Western-presented development plan, with the result being sufficient tax revenues from economic development to service the foreign loan.
Seldom, if ever, does this happen. What happens is that the plan results in the country becoming indebted to the limit and beyond of its foreign currency earnings.