Monday, March 7, 2016

"It's Our Damned Duty": Merkel, Turkey Make Last Ditch Effort To Save EU At Key Summit

Alexis Tsipras is fuming. Austria is unilaterally closing the Balkan route. Merkel is shouting about the bloc's "damned duty." And Erdogan is, well... Erdogan.

Deutsche Bank Discovers Kuroda's NIRP Paradox

Surprise! Negative rates are set to backfire in Japan as consumption likely to suffer.

Will Russia End Up Controlling 73% of Global Oil Supply?

Russia has played a master stroke in the current oil crisis by taking the lead in forming a new cartel, but it’s a move that could spell geopolitical disaster. If this scenario plays out, Russia will emerge as the de facto leader of the major oil producing nations of the world, accounting for almost 73 percent of the global oil supply.

Non-GAAP Earnings Are About To Plunge The Most Since 2009; As For GAAP Don' Even Ask...

The estimated earnings decline for Q1 2016 is -8.0%. If this is the final earnings decline for the quarter, it will mark the first time the index has seen four consecutive quarters of year-over-year declines in earnings since Q4 2008 through Q3 2009. It will also mark the largest year-over-year decline in earnings since Q3 2009 (-15.7%).

Even "Flim-Flam Accounting" Can't Hide This Profitless Recession

If you think all this is a solid foundation for ever-higher profits, by all means go buy stocks with all four feet. But don't be surprised if the rest of the market disagrees at some point - for example, when even flim-flam accounting can't hide the fact that profits are in a free-fall back to "normal" levels 60% below current levels.

"The Iron Ore Market Has Gone Berserk" - What Drove Iron's Biggest Surge Ever

'Efficient' markets at their very best once again. Following a 19% spike overnight, analysts and traders alike are stunned by "the departure from fundamentals" as "the iron ore and steel markets have gone berserk." On the heels of home price surges, sent soaring after government suggestions that they will support growth, "investors are expecting further monetary easing by the Chinese government to boost steel demand," but as Bloomberg notes there has been no "corresponding increase in physical orders."

JPMorgan: "We Think That One Should Start To Re-Enter The Shorts"

"We have on 15th Feb called for a tradeable market rebound. Now, following the 13% SX5E and 10% SPX upmove, we think that one should start to re-enter the shorts."

Futures Lower On Lack Of China Stimulus; Oil Squeeze Continues; Gold Spikes Ahead Of ECB

In the aftermath of last week's disappointing G-20 Shanghai summit, there was much riding on this weekend's start of the China's People's Congress, and specifically what if any stimulus announcement Beijing will make; sadly for stimulus addicts China mostly disappointed and after the unimaginative scope of growth proposals, it is hardly surprising that European stocks and US equity futures have taken a leg lower.

Chinese Reserves Drop To Fresh Four Year Low After February's $29BN Decline

After three consecutive declines in China's Foreign Reserves in the November-January period, which averaged nearly $100 billion per month (with particular attention paid to last month's number), consensus expectations were for a moderation in reserve outflows in February to approximately $40 billion in February; moments ago the PBOC reported, that as expected, reserve outflow "slowed down" to just $28.6 billion, bringing China's total foreign reserves to $3.2 trillion, the lowest level since late 2011.

Shorts Pulverized: Iron Ore Soars Most On Record After Goldman Says "Bearish Case Intact"

Just hours after Goldman Sachs issued a report in which it said the iron ore rally is likely to be short lived "in the absence of a material increase in Chinese steel demand, and steel raw materials will once again drive steel prices rather than the other way around", overnight Iron Ore futures traded on the Singapore SGX exploded as much as 19% higher to $58.95 in one session, its biggest jump on record.

"There's An Insurrection Coming... The American People Are Sick & Tired Of Crony Capitalism"

"There’s an insurrection coming...Mitt Romney will always be remembered as the one who put us over the edge and awoke a sleeping giant, the Silent Majority, the American people..."

"We're In The Eye Of The Storm" Rothschild Fears "Daunting Litany" Of Problems Ahead

As central bank policy-makers' forecasts have become more pessimistic (i.e. more realistic), Lord Rothschild is unsurprised at the current malaise: "not surprisingly, market conditions have deteriorated further...So much so that the wind is certainly not behind us; indeed we may well be in the eye of a storm." On this basis, Rothschild highlights a "daunting litany of problems," warning those who are optimistically sanguine about the US economy that "2016 is likely to turn out to be more difficult than the second half of 2015."

The Divided States Of An Armed America

Few issues spilt America as conclusively as the Second Amendment to the US Constitution, which protects the right of the people to keep and bear arms. The map above shows the divide in public opinion on expanding gun control, favored greatly by the metropolitan coasts, opposed with determination by the rural middle.

Thanks To The Republican Civil War, Every Scenario Ends With Hillary Clinton Winning The Election

by Michael Snyder, The Economic Collapse Blog:

What is the worst possible outcome for the presidential election of 2016? Assuming that an election will actually take place, that is an easy question to answer – Hillary Rodham Clinton as the next president of the United States. She is truly evil in every sense of the word, and the implications of what four (or eight) years of Hillary would mean for our nation are almost too terrible to imagine. That is why it is so depressing watching what is happening to the Republican Party right now. The civil war in the Republican Party is ripping it to shreds, and as a result of all this warfare every plausible scenario for what will happen the rest of the way ends with Hillary Clinton winning the 2016 election.
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Threat Of Nuclear Attack Gets Real Says Pentagon Chief

from The Sleuth Journal:

The threat of nuclear war has always been a constant looming thought in the back of our minds, however more recently William Perry, a former US defense secretary who worked in the Pentagon from 1994 to 1997, stated that“the probability of a nuclear calamity is higher today then it was during the cold war. A new danger has been rising in the past three years and that is the possibility there might be a nuclear exchange between the United States and Russia … brought about by a substantial miscalculation, a false alarm.”
Simply put, we are living in a time where the threat of a nuclear attack is real. Things are getting heated and mock nuclear bomb alerts are being broadcast worldwide. From Europe to America, these alerts are becoming more viral.
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Hillary Clinton Caused the Hell in Honduras

from Washington’s Blog:

The murder in Honduras on March 3rd of the global prize-winning environmental activist Berta C├íceres is one of the current achievements (though indirect) of Hillary Clinton’s and Barack Obama’s decision in 2009 to allow the newly-installed coup-regime in that country to solidify and remain in power.
As the U.S. Secretary of State, Hillary Clinton resisted and ultimately overcame the virtually unanimous efforts of other Western Hemispheric and European leaders to oust the coup-regime. She was backed-up in this retrograde decision by U.S. President Barack Obama. Without her efforts, and President Obama’s passive acceptance of her decision, the coup-installed regime wouldn’t have remained in power, and the freely elected President would have been restored to power to complete his term.
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Ted Cruz Entered US Illegally in 1974

from The Gateway Pundit:

Lawrence Sellin, Ph.D. a retired colonel with 29 years of experience in the US Army Reserve, argues that Senator Ted Cruz entered the United States illegally as a child in 1974. His parents failed to file a CRBA form which is required by US law. Ted’s parents did not fill out the required form until 1986.
It would be nice if the Cruz camp cleared this up for Republican voters. Via Family Security Matters:
Exactly how and when did Ted Cruz obtain U.S. citizenship?
The fact that it is still an open question at this stage of the Presidential campaign is a testament either to the galactic ignorance of our political-media elite or their willingness to place political expediency ahead of the Constitution and the law.
Read More…

Corporate Loan Charge-offs and Delinquencies Continue to Surge

by Pater Tenebrarum,
All Is Not Well
Corporate loan delinquencies and charge-offs at US commercial banks have recently been updated to the end of Q4 2015. As we suspected on occasion of our last update, the annual change rate in the sum of the two series has continued to accelerate.
It stands now at a level that exceeds the peak readings of both the 1990 and the 2001 recessions, and is only rivaled by the 2008 disaster. Evidently, everything is not awesome in the US economy. We have included the Federal Funds rate on the chart as well, to once again highlight the curious fact that this is happening with the FF rate still stuck at rock bottom levels.
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Romney Touts Cruz’s Wins over Trump, Will not Reject GOP Nod if Drafted at Convention

[Ed. Note: The Right has already made it clear they didn’t want Jeb, and it’s obvious they don’t want Marco either…seems like Romney is the NWO’s next choice]
from FoxNews:
Mitt Romney said Sunday that GOP presidential candidate Ted Cruz winning two primary states this weekend proves the Texas senator can stop front-runner Donald Trump, but declined to rule out his own White House scenario.
Romney, a former Massachusetts governor and the Republicans’ 2012 presidential nominee, repeated remarks from last week, telling “Fox News Sunday” that he wouldn’t launch an eleventh-hour campaign for president. But he declined to reject being “drafted” at the GOP convention in July to be the party’s general election candidate.
“It would be absurd to say that if I were drafted I’d say no,” Romney said. “We have four strong people running for the nomination. One of them will be the nominee.”
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How to Naturally Detox from Mandatory Vaccine Injections Forced upon You by the Medical Police State

by Mike Adams, Natural News:
If you’re being forced to take a vaccine against your will (by a totalitarian medical regime like California), are there things you can do to protect yourself from vaccine toxins?
You bet there are!
Vaccines contain mercury, aluminum, MSG, formaldehyde and other adjuvants such as squalene. These are all neurotoxic substances that can cause permanent brain damage, autism, seizures, comas and even death. This is precisely why vaccines cause autism and Asperger’s in some children as was openly admitted by a top CDC scientist named Dr. William Thompson.
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Even When Bernie Sanders Wins, He Loses at the New York Times

by Pam Martens and Russ Martens, Wall Street on Parade:

The New York Times, which makes its bread and butter off of a high-flying Wall Street, has rewritten basic math in today’s digital edition to make Hillary Clinton’s loss to Bernie Sanders’ in yesterday’s Super Saturday states appear to be a big win. According to New York Times’ math, winning over the voters of one state is better than winning over the voters of two. Under a bold headline (“Decisive Win for Clinton in Louisiana”) that mentioned nothing about Bernie Sanders’ huge margin of victory by more than two to one in Kansas and decisive win in Nebraska, the Times said in its lead paragraph:
“Senator Ted Cruz and Donald J. Trump each won two of the four states that had Republican contests on Saturday. Senator Bernie Sanders won two states, although Hillary Clinton captured the day’s big prize of Louisiana.”
To most Americans, Louisiana is not seen as a “big prize.” Louisiana doesn’t even rank among the top 20 most populous states in the U.S.
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