Submitted by Tyler Durden on 03/21/2016 - 08:31
Pearson is out; Ackman is in... accounting mis-statements (balmed ojn improper conduct of CFO) resulting in worse than expected results... and no confirmation on the waivers from lenders... warning of possible default.
Valeant Throws Its Former CFO Under The Bus; Accuses Him Of Cooking The Books After Coming Over From Goldman Sachs
Submitted by Tyler Durden on 03/21/2016 - 09:22 Back in October, we tried to "tie the Valeant roll-up together by presenting The Goldman "Missing Link" in which we showed that Howard Schiller, Valeant's CFO from December 2011 to June 2015, previously ran Goldman Sachs’ health-care practice until 2009, when he became the chief operating officer of Goldman’s investment bank. The next year, the bank advised Valeant on its breakout purchase of Biovail Corp. Today, as part of its stunning announcement earlier today, the company - in looking for easy scapegoats - also threw its former CFO under the bus and accused him of cooking the books.
Trump Beefs Up Security At Rallies As Violence, Protests Escalate
Submitted by Tyler Durden on 03/21/2016 - 09:42 Following a raucous series of campaign stops in Arizona, Donald Trump is adding security at rallies to counter protesters who he says are deliberately inciting violence and trampling on his First Amendment rights.Simple...Ponzi 101
1."Print money to infinity and beyond"
2. Buy all your stock market to keep it propped up with the money you created out of thin air...
3. LIE...
A Desperate China Begged Fed For "Plunge Protection Playbook" As Its Market Crashed
“Your urgent assistance is greatly appreciated! My Governor would like to draw from your good experience."
SF Fed's Williams Says Will Push For Rate Hike As Soon As April
Submitted by Tyler Durden on 03/21/2016 - 09:00 SF Fed president and flipflopper extraordinaire John Williams told Market News International in an exclusive interview that "he will be advocating for another interest rate hike as early as the April meeting of the Fed's rate-setting Federal Open Market Committee - or, failing that, at the June meeting - provided the economy continues to do as well as it has been." Maybe, or maybe not: "for now, though, the Fed is considering raising rates, not lowering them. Williams says such a move would be "appropriate" if inflation data continues to move toward 2% in coming months as he expects."
Bonds Dump, Stocks Slump, Crude Jumps As "QE Trade" Unwinds
Submitted by Tyler Durden on 03/21/2016 - 08:51 Despite the reversal (lower) in stocks, bond prices are tumbling (yields surging) this morning, seemingly catalyzed by yet another sudden surge in crude oil prices. Algos appear to have read comments on shale production coming back as bullish - well if they are producing more, there must be more demand right? At the same time - starting around 530ET, stocks are bonds began to both sell off, unwinding the post-Fed "QE Trade" bounce.
January 'Bounce' Dies As Fed's National Activity Index Tumbles Back Into Contraction Near 2-Year Lows
Submitted by Tyler Durden on 03/21/2016 - 08:42 After January's hopeful spike to 6 month highs, Chicago Fed's National Activity Index plunged back into contraction (at -0.29) near 2 year lows. A shockingly large 58 of the 85 individual indiators within the index made negative contributions to the overall index which printed notably below the lowest economist's expectations.
"A Dreaded Scenario For Oil Bulls Is Becoming A Reality" Reuters Warns: U.S. Production Is Coming Back On Line
Submitted by Tyler Durden on 03/21/2016 - 08:24 With oil surging above the critical $40 new "floor" price, as Reuters put it moments ago, "a dreaded scenario for U.S. oil bulls might just be becoming a reality." The reason: some U.S. shale oil producers, including Oasis Petroleum and Pioneer Natural Resources Co, are activating drilled but uncompleted wells (DUCs), which is sure to bring back more crude to a saturated market and dampen any sustained rebound in prices.Frontrunning: March 21
- Oil Drops With Emerging-Market Currencies on Rig Recovery Signs (BBG)
- A plea for help - How China asked the Fed for its stock crash play book (Reuters)
- Obama to meet Raul Castro on historic Cuba trip (Reuters)
- Wall Street's Pile of Unwanted Treasuries Exposes Market Cracks (BBG)
- Dimon's Timing Looks Savvier by the Day as Equities Rebound (BBG)
Global Stocks Levitate Despite Ongoing Oil Weakness; China Stocks Jump After Easing Margin Debt
Submitted by Tyler Durden on 03/21/2016 - 07:00 At the same time as the PBOC was cautioning about the dangers of excess debt (just as it injected a record amount of loans into the financial system), China's central bank warned about dangers from a stock market bubble, and perhaps just to assure the bubble gets even bigger, at the same time China eased on margin debt limits, in the process sending Chinese stocks soaring higher by 2.2%, and pushing the Shanghai Composite over 3000 for the first time in months as China now appears set to attempt another housing bubble "soft landing" while at the same time restarting its housing bubble.
by Michael Snyder, The Economic Collapse Blog:
When panic and fear dominate financial markets, gold and silver both tend to rapidly rise in price. We witnessed this during the last financial crisis, and it is starting to happen again. Because I am the publisher of a website called The Economic Collapse Blog, I am often asked about gold and silver when I do interviews. In fact, just a few days ago I was sitting right next to Jim Rickards during the taping of a television show when this topic came up. Jim expressed his belief that investing in gold is superior to investing in silver, but I had the exact opposite viewpoint. In this article, I would like to elaborate on why I believe that silver represents a historic investment opportunity right now.
Read More
When panic and fear dominate financial markets, gold and silver both tend to rapidly rise in price. We witnessed this during the last financial crisis, and it is starting to happen again. Because I am the publisher of a website called The Economic Collapse Blog, I am often asked about gold and silver when I do interviews. In fact, just a few days ago I was sitting right next to Jim Rickards during the taping of a television show when this topic came up. Jim expressed his belief that investing in gold is superior to investing in silver, but I had the exact opposite viewpoint. In this article, I would like to elaborate on why I believe that silver represents a historic investment opportunity right now.
Read More
from Law Newz:
Warning to the Trumpets. It ain’t over. It is just beginning.
Below are a list of tactics that Establishment Republicans may use to block the nomination of Donald Trump. Yes, I know. If they succeed they will not win the White House but many in the establishment will make just as much money under a Democrat insider as they will with a Republican insider. So they may not care.
All they may want to do is send the message to any future “outsider” candidate, “This is our party and you need our approval to participate. If you try to do this without us we will destroy you.”
Read More
Warning to the Trumpets. It ain’t over. It is just beginning.
Below are a list of tactics that Establishment Republicans may use to block the nomination of Donald Trump. Yes, I know. If they succeed they will not win the White House but many in the establishment will make just as much money under a Democrat insider as they will with a Republican insider. So they may not care.
All they may want to do is send the message to any future “outsider” candidate, “This is our party and you need our approval to participate. If you try to do this without us we will destroy you.”
Read More
from The Burning Platform:
Glen Beck’s piece in the National Review has really pissed off a lot of people. He has taken the “elite” position and claims that Trump is not a conservative. “Politically orphaned by their party, conservatives were forced to either stay home or hold their noses and vote for a progressive Republican,” Beck wrote. Quite honestly, the entire “conservative” position is a bunch of crap, because they have not done anything that is “conservative.” They support every war and the NSA. They have done nothing to “reduce” government. The “conservatives” are just a part of the “special” elite class that looks down upon the rest of us as the great unwashed. Even John McCain voted to tax the internet.
Read More
Glen Beck’s piece in the National Review has really pissed off a lot of people. He has taken the “elite” position and claims that Trump is not a conservative. “Politically orphaned by their party, conservatives were forced to either stay home or hold their noses and vote for a progressive Republican,” Beck wrote. Quite honestly, the entire “conservative” position is a bunch of crap, because they have not done anything that is “conservative.” They support every war and the NSA. They have done nothing to “reduce” government. The “conservatives” are just a part of the “special” elite class that looks down upon the rest of us as the great unwashed. Even John McCain voted to tax the internet.
Read More
by F. William Engdahl, NEO:
Every four years Americans get to vote for a President. The last
President who might have made a positive difference to the country and
the world was John F. Kennedy. Just before his assassination, JFK was
moving to disengage from Vietnam. He was in a back-channel dialogue with
Soviet head Nikita Khrushchev to insure a repeat of the 1962 Cuba
Missile Crisis, a near-nuclear war by miscalculation, would never happen
(bad for US military-industrial complex and the Rockefellers among
others). In short, he was starting to deviate from The Program.
JFK as we all know was assassinated on November 22, 1963 at Dealey Plaza in Dallas, Texas. His assassins included networks of Allen Dulles’ CIA, including a then-young CIA agent named G.H.W. Bush; elements of the Mafia around New Orleans mafia boss Carlos Marcello; elements of the Dallas Police; mafia-CIA-linked gangster night club owner, Jack Ruby; Texan political boss, Vice President Lyndon B. Johnson; networks of the Pentagon. The only one who was innocent was the one Ruby rubbed out to silence him: Lee Harvey Oswald.
Read More
Every four years Americans get to vote for a President. The last
President who might have made a positive difference to the country and
the world was John F. Kennedy. Just before his assassination, JFK was
moving to disengage from Vietnam. He was in a back-channel dialogue with
Soviet head Nikita Khrushchev to insure a repeat of the 1962 Cuba
Missile Crisis, a near-nuclear war by miscalculation, would never happen
(bad for US military-industrial complex and the Rockefellers among
others). In short, he was starting to deviate from The Program.JFK as we all know was assassinated on November 22, 1963 at Dealey Plaza in Dallas, Texas. His assassins included networks of Allen Dulles’ CIA, including a then-young CIA agent named G.H.W. Bush; elements of the Mafia around New Orleans mafia boss Carlos Marcello; elements of the Dallas Police; mafia-CIA-linked gangster night club owner, Jack Ruby; Texan political boss, Vice President Lyndon B. Johnson; networks of the Pentagon. The only one who was innocent was the one Ruby rubbed out to silence him: Lee Harvey Oswald.
Read More
from Gold Silver Worlds:
Mike Gleason, Money Metals Exchange: I’m happy to welcome back our good friend David Morgan of TheMorganReport.com and author of the book The Silver Manifesto. David it’s a pleasure to talk to you as always, how are you?
David Morgan, The Morgan Report: I’m doing well, thank you for having me on your show.
Mike Gleason: Well to start out I’ll ask you to comment on the market action here in 2016 so far. Now, gold and silver have done quite well, we had gold advancing on weakness and concerns in the equities markets earlier in the year. In March, we’ve seen it continue to do well even as stocks rebounded from a strong employment report. One would think it’s a bullish sign when we get good price action even with supposedly negative news for precious metals coming out. So give us your thoughts on the market action so far this year, David, and specifically why do you think the metals have done so well here in the early part of 2016?
Read More
Mike Gleason, Money Metals Exchange: I’m happy to welcome back our good friend David Morgan of TheMorganReport.com and author of the book The Silver Manifesto. David it’s a pleasure to talk to you as always, how are you?David Morgan, The Morgan Report: I’m doing well, thank you for having me on your show.
Mike Gleason: Well to start out I’ll ask you to comment on the market action here in 2016 so far. Now, gold and silver have done quite well, we had gold advancing on weakness and concerns in the equities markets earlier in the year. In March, we’ve seen it continue to do well even as stocks rebounded from a strong employment report. One would think it’s a bullish sign when we get good price action even with supposedly negative news for precious metals coming out. So give us your thoughts on the market action so far this year, David, and specifically why do you think the metals have done so well here in the early part of 2016?
Read More
by Christina Sarich, Natural Society:
County
staff in Colorado’s Boulder County have been directed to draft a plan
to rid county-owned land of genetically modified crops in the relatively
near future. The directive was given recently (March 2016) by the Board
of County Commissioners in the best interest of their people.
Under the current county cropland policy, adopted in 2011, tenant farmers are allowed to grow certain varieties of GM sugar beets and corn. But groups challenging the safety and health impacts of GM crops are eager to see them phased out. Advocates of non-GM agriculture fear that human health and the water, soil, and environment in general are negatively affected by growing biotech’s seed.
Read More
County
staff in Colorado’s Boulder County have been directed to draft a plan
to rid county-owned land of genetically modified crops in the relatively
near future. The directive was given recently (March 2016) by the Board
of County Commissioners in the best interest of their people.Under the current county cropland policy, adopted in 2011, tenant farmers are allowed to grow certain varieties of GM sugar beets and corn. But groups challenging the safety and health impacts of GM crops are eager to see them phased out. Advocates of non-GM agriculture fear that human health and the water, soil, and environment in general are negatively affected by growing biotech’s seed.
Read More
from CNSnews:
Senate Majority Leader Mitch McConnell said on NBC’s “Meet the Press”
today that he would not be holding a Senate vote on President Barack
Obama’s nomination to fill the Supreme Court vacancy left by the death
of Justice Antonin Scalia.
Obama this week nominated Judge Merrick Garland to the Supreme Court. Garland currently serves on U.S. Court of Appeals for the District of Columbia.
McConnell indicated on “Meet the Press” that he would hold no vote on a Supreme Court nomination during the regular session of the Senate before this November’s elections and that he would hold no vote on a Supreme Court nominatoin during a lame-duck session held after the election and before the new Congress and new president are sworn into office next January.
Read More
Senate Majority Leader Mitch McConnell said on NBC’s “Meet the Press”
today that he would not be holding a Senate vote on President Barack
Obama’s nomination to fill the Supreme Court vacancy left by the death
of Justice Antonin Scalia.
Obama this week nominated Judge Merrick Garland to the Supreme Court. Garland currently serves on U.S. Court of Appeals for the District of Columbia.
McConnell indicated on “Meet the Press” that he would hold no vote on a Supreme Court nomination during the regular session of the Senate before this November’s elections and that he would hold no vote on a Supreme Court nominatoin during a lame-duck session held after the election and before the new Congress and new president are sworn into office next January.
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by Joshua Krause, Activist Post:
For over a decade the US military has spent $1.5 trillion dollars to
create an all-purpose fighter jet that would replace their diverse fleet
of warplanes. It’s a project that has been rife with criticism for
being grossly over budget and delayed for years, not to mention the fact
that the plane is riddled with technical flaws and lacks maneuverability (most recently, it was revealed that the F-35 has a faulty radar
that needs to be frequently restarted). And each of these problem prone
aircraft cost 3 to 5 times as much to manufacture as older fighter
jets, like the F-15 and F-16.
Now officials with the Pentagon are admitting that this massive boondoggle is a total bust. One official admitted that to replace the Air Force’s entire fleet, which was the original intention of the F-35 program, they would have eliminate a fifth of their squadrons to afford it. Two generals said that the whole idea of an all-purpose aircraft was flawed from the start, and the Pentagon is already planning a 6th generation fighter jet to replace the F-35.
Read More
For over a decade the US military has spent $1.5 trillion dollars to
create an all-purpose fighter jet that would replace their diverse fleet
of warplanes. It’s a project that has been rife with criticism for
being grossly over budget and delayed for years, not to mention the fact
that the plane is riddled with technical flaws and lacks maneuverability (most recently, it was revealed that the F-35 has a faulty radar
that needs to be frequently restarted). And each of these problem prone
aircraft cost 3 to 5 times as much to manufacture as older fighter
jets, like the F-15 and F-16.Now officials with the Pentagon are admitting that this massive boondoggle is a total bust. One official admitted that to replace the Air Force’s entire fleet, which was the original intention of the F-35 program, they would have eliminate a fifth of their squadrons to afford it. Two generals said that the whole idea of an all-purpose aircraft was flawed from the start, and the Pentagon is already planning a 6th generation fighter jet to replace the F-35.
Read More
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