Submitted by Tyler Durden on 05/04/2016 - 09:12
Speaking through its mouthpiece Global Times, China has published its first reaction to "unpredictable" Trump's position as presumptive Republican nominee and their expectations of a Trump vs Clinton fight for The White House... "This scenario is becoming increasingly serious..."
"Bankers Will Choose To Fly Instead Of Die" - Why Bill Gross Thinks Helicopter Money Is Imminent
Submitted by Tyler Durden on 05/04/2016 - 08:56 "Money for free! Well not exactly. The Piper that has to be paid will likely be paid for in the form of higher inflation, but that of course is what the central banks claim they want. What they don’t want is to be messed with and to become a government agency by proxy, but that may just be the price they will pay for a civilized society that is quickly becoming less civilized due to robotization. There is a rude end to flying helicopters, but the alternative is an immediate visit to austerity rehab and an extended recession. I suspect politicians and central bankers will choose to fly, instead of die."
The Central Bank War On Savers - The Big Lie Beneath
Submitted by Tyler Durden on 05/04/2016 - 09:53 The central bank war on savers is rooted in a monumental case of the Big Lie. Here is what a retired worker who managed to save $5,000 per year over a 40 year’s lifetime of toil and sweat in a steel factory now earns in daily interest on a bank CD. To wit, a single cup of cappuccino. Yet the central bankers claim they have absolutely nothing to do with this flaming economic injustice.
As The Sohn Conference Begins, This Is How Last Year's Hedge Fund Picks Did
Submitted by Tyler Durden on 05/04/2016 - 09:27 Moments ago, the 2016 edition of the Sohn Investment Conference started, a feeding frenzy for traders and hedge fund managers such as Gundlach, Einhorn and Chanos who descend on this popular annual "round table" to pitch their best and worst ideas. As always, the moment a company's name is mentioned in a bullish or bearish context, its stock is sure to surge or slump, as the headline-hungry algos immediate pounce in the current reactionary market environment. But is following the advice of these hedge fund gurus such a good idea?
US Trade Deficit Tumbles As Overall Imports Plunge, Even As Oil Imports Continue To Rise
Submitted by Tyler Durden on 05/04/2016 - 08:45 In a surprising development, the U.S. monthly international trade deficit decreased substantially in March 2016 from $47.0 billion in February (revised) to $40.4 billion in March, below the $41.2 billion expected, as exports declined by a modest $1.5 billion, a 0.9% drop to $176.62BN from $178.16BN in Feb. At the same time imports outright plunged by $8.1 billion, down 3.6% in March to $217.06BN from $225.13BN in Feb. Curiously this happened just as Canada announced a trade deficit of C$3.4 billion, the widest on record. In March, the US trade deficit excluding petroleum was $37.48 billion.US Worker Productivity Slumps At Worst Rate In 23 Years
Submitted by Tyler Durden on 05/04/2016 - 08:43 Despite a very modest beat of expectations US worker productivity fell for the 2nd quarter in a row (down 1.0% vs 1.3% QoQ), the two-quarter-average output per hour isdown 1.4% - the worst slump since 1993. Unit labor costs rose by a better than expected 4.1% (helped by a downwardly revised 2.7% rise in Q4), the highest since Q4 2014.
Zandi's "Job Creation Machine" Stalls As ADP Employment Growth Worst In 3 Years
Submitted by Tyler Durden on 05/04/2016 - 08:23 Against expectations of a 195k gain, ADP reported just 156k job growth in April with manufacturing losing jobs once again and services job growth clowing quickly to catch down to such negative indicators as ISM Services Employment. This is the worst headline print since April 2013. From last week's job-creation-machine firinmg on all cylinders, Mark Zandi is now more cautious - “The job market appears to have stumbled in April. Job growth noticeably slowed, with some weakness across most sectors. One month does not make a trend, but this bears close watching as the financial market turmoil earlier in the year may have done some damage to business hiring.”
Aeropostale Files Chapter 11: Latest Retail Bankruptcy After American Apparel, Cache, Wet Seal And Quiksilver
Submitted by Tyler Durden on 05/04/2016 - 07:58 Aeropostale's decline was swift. The brand was established in 1987, went public in 2002, and by 2010 it had a market cap of nearly $3 billion. However, by January 2015 the company of 21,000 employees had posted losses in its last three fiscal years, and with 2015 being the fourth consecutive year of losses, its market cap imploded to just $2.9 million.Frontrunning: May 4
- Donald Trump’s Win Just Latest Tremor Shaking GOP (WSJ)
- Trump Becomes Presumptive Republican Nominee as Cruz Exits Race (BBG)
- How 'Stop Trump' failed to halt the Republican front-runner (Reuters)
- Islamic State seeks news blackout in Mosul as Iraqi army nears (Reuters)
- U.S. gathers allies on next steps in Islamic State fight (Reuters)
Three In A Row...
Submitted by Tyler Durden on 05/04/2016 - 07:18 We've now seen three consecutive quarters of net tightening of C&I lending standards in the US (Figure 1, left) and previously whenever this has happened it has ultimately led to a full blown default cycle – albeit with only three cycles of data to examine. The series does tend to exhibit sweeping cyclical tendencies with momentum and is not prone to random fluctuations. So it's a worry that we've entered the net tighten stage and have stayed there for three quarters now.
Global Stocks Slide As Dollar Continues Rising: Has The "Pricing In" Of Trump Begun
Submitted by Tyler Durden on 05/04/2016 - 06:44 While there was no unexpected overnight central bank announcement unlike yesterday's surprise by the RBA which unleashed volatility havoc in the FX market, which promptly spilled over into all asset classes, overnight stocks around the world saw another leg lower without a tangible catalyst, while EM currencies fell to a one-month low after two Fed presidents raised concern investors had become too complacent in their belief that U.S. interest rate raises will stay on hold. Or perhaps all that is happening is that after ignoring Trump, the market is starting to finally price in the possible reality of the Donald in the White House (although as Jeff Gundlach pointed out, Trump would be a far better president for the economy and the market than Hillary or Bernie).
License To Steal: Italy’s Highest Court Rules “Theft Not A Crime If Hungry”
Submitted by Tyler Durden on 05/04/2016 - 02:58 Stealing small amounts of food to stave off hunger is not a crime, Italy’s highest court of appeal has ruled. Judges overturned a theft conviction against Roman Ostriakov after he stole cheese and sausages worth €4.07 (£3; $4.50) from a supermarket. Mr Ostriakov, a homeless man of Ukrainian background, had taken the food “in the face of the immediate and essential need for nourishment”, the court of cassation decided. Therefore it was not a crime, it said.EliminaTED: Cruz Drops Out Of Presidential Race, Leaving Trump Republican Presidential Candidate
Submitted by Tyler Durden on 05/03/2016 - 23:46
US Futures Tumble After China Devalues Yuan By Most Since August Collapse
Submitted by Tyler Durden on 05/03/2016 - 22:30 The 'odd' regime shift in the relationship between USDJPY and US equities continues overnight. Following some visible-handedness and follow-through momentum, Yen is weakening against the USD - normally a big flashing green sign for risk-on pajama traders but China's biggest Yuan devaluation in 9 months (since the August turmoil) seems to have stolen the jam out of the bull's donut as US equity futures extend losses, AsiaPac credit risk jumps, and USD strength is weighing on crude prices.
from USA Watchdog:
Money manager and financial expert Michael Pento says every corner of the globe is in economic trouble.
Pento contends, “I think we are going to have a global synchronized collapse amongst the developed world economies: Europe, Japan, the United States and China, and you should be hedging against this market. Don’t forget, we have the most overvalued, most dangerous stock market in the history of the world. . . . Record valuations sit on top of an unprecedented earnings and revenue recession. The only thing we have left is the promise of ZIRP, QE and negative interest rates that don’t work. All they do is inflate asset prices. You should be short the market, and you should be long precious metals.”
Money manager and financial expert Michael Pento says every corner of the globe is in economic trouble.
Pento contends, “I think we are going to have a global synchronized collapse amongst the developed world economies: Europe, Japan, the United States and China, and you should be hedging against this market. Don’t forget, we have the most overvalued, most dangerous stock market in the history of the world. . . . Record valuations sit on top of an unprecedented earnings and revenue recession. The only thing we have left is the promise of ZIRP, QE and negative interest rates that don’t work. All they do is inflate asset prices. You should be short the market, and you should be long precious metals.”
from GoldSeek:
The question begs for conspiracy theories to satisfy it, but one might more aptly say that central banks beg for conspiracy theories to explain them, since they operate in the shadows while being given charge of all the financial systems of all the world’s greatest economies. Central bankers have the unchaperoned power to create the greatest fortunes ever known to mankind at will and to invest those fortunes wherever they want. With trillions of dollars or euros or rubles or yuan at their disposal and trillions more whenever they want to conjure them into existence, what is to stop them from cornering every market on earth now that they have been unleashed?
Read More
The question begs for conspiracy theories to satisfy it, but one might more aptly say that central banks beg for conspiracy theories to explain them, since they operate in the shadows while being given charge of all the financial systems of all the world’s greatest economies. Central bankers have the unchaperoned power to create the greatest fortunes ever known to mankind at will and to invest those fortunes wherever they want. With trillions of dollars or euros or rubles or yuan at their disposal and trillions more whenever they want to conjure them into existence, what is to stop them from cornering every market on earth now that they have been unleashed?
Read More
from Zen Gardner:
Although it’s now public knowledge that former Florida Sen. Bob Graham told the Tampa Bay Times that the secret 28 pages of
the 9/11 Commission report are poised to be released within the next
few months, one can only question what the White House’s new and urgent
motive for their release is.
One thing comes to mind, right off the bat, and that is the fact that strong evidence existssuggesting that up to three thermonuclear devices were detonated at the World Trade Center site on 9/11, hence the nickname “Ground Zero.”
Read More…
Although it’s now public knowledge that former Florida Sen. Bob Graham told the Tampa Bay Times that the secret 28 pages of
the 9/11 Commission report are poised to be released within the next
few months, one can only question what the White House’s new and urgent
motive for their release is.One thing comes to mind, right off the bat, and that is the fact that strong evidence existssuggesting that up to three thermonuclear devices were detonated at the World Trade Center site on 9/11, hence the nickname “Ground Zero.”
Read More…
from Wolf Street:
Markit and ISM add to the gloom.
The decline of US manufacturing in the cacophony of regional and national indices, which started in mid-2014, is a sight to behold. Today we got two national indices for April. Both added more gloom to the scenario.
Of the national manufacturing indices, Markit’s PMI, which is based on surveys of purchasing managers, had been the more positive one – if that’s the right word. But it too has steadily been losing ground since mid-2014, when it hovered around 57 (above 50 = expansion).
Read More
Markit and ISM add to the gloom.The decline of US manufacturing in the cacophony of regional and national indices, which started in mid-2014, is a sight to behold. Today we got two national indices for April. Both added more gloom to the scenario.
Of the national manufacturing indices, Markit’s PMI, which is based on surveys of purchasing managers, had been the more positive one – if that’s the right word. But it too has steadily been losing ground since mid-2014, when it hovered around 57 (above 50 = expansion).
Read More
by Dave Kranzler, Investment Research Dynamics:
Commentary was posted on Zerohedge today about the silver market that
needs to be swatted out of the air. Some investment advisor who for some
reason gets air-time on Zerohedge posted an analysis which asserted
that commercial hedgers hit their most “extreme net short position ever
in silver futures” LINK. This is at least the fifth “analyst” I’ve come
across who’s written, incorrectly, about this topic.
While it’s true that the open interest in silver hit a high as of LAST Tuesday (April 26), the “net short position” by theCommercial trader
Bullion Bank segment, the trader segment to which Dana Lyons refers to
as “smart money,” did not come close its most “extreme net short
position ever.”
Read More
Commentary was posted on Zerohedge today about the silver market that
needs to be swatted out of the air. Some investment advisor who for some
reason gets air-time on Zerohedge posted an analysis which asserted
that commercial hedgers hit their most “extreme net short position ever
in silver futures” LINK. This is at least the fifth “analyst” I’ve come
across who’s written, incorrectly, about this topic.While it’s true that the open interest in silver hit a high as of LAST Tuesday (April 26), the “net short position” by the
Read More
by Neil Munro, Breitbart:
Target’s
Twitter account hasn’t emitted even one tiny Tweet since April 19, when
the company triggered a nationwide boycott against itself by demanding
that all of its customers use mixed-sex bathrooms and changing rooms to
ensure respect for a few transgender customers.
The two-week silence from the Twitter account is evidence that the company didn’t realize the risks of changing their bathroom policies, said Jim Hughes, a veteran branding expert based in San Diego, California. If the pro-transgender plan has been carefully planned, and if it was expected to bolster the company’s support among millennials, then the company’s P.R. team would be trumpeting the good news via numerous channels, including Twitter, he said.
Read More
Target’s
Twitter account hasn’t emitted even one tiny Tweet since April 19, when
the company triggered a nationwide boycott against itself by demanding
that all of its customers use mixed-sex bathrooms and changing rooms to
ensure respect for a few transgender customers.The two-week silence from the Twitter account is evidence that the company didn’t realize the risks of changing their bathroom policies, said Jim Hughes, a veteran branding expert based in San Diego, California. If the pro-transgender plan has been carefully planned, and if it was expected to bolster the company’s support among millennials, then the company’s P.R. team would be trumpeting the good news via numerous channels, including Twitter, he said.
Read More
from ZeroHedge:
Following this weekend’s leak by Greenpeace
demonstrating not only that the TTIP is driven entirely by narrow
corporate interests, but that Obama is openly willing to reneg on his
pro-environment agenda just to pass the Transatlantic Treaty at any
cost, the blowback arrived earlier today when France became the first
major European nation which threatened to reject the huge free trade
deal between the U.S. and the European Union, because according to AP “it’s too friendly to U.S. business and probably doomed.”
Signs of trouble have been dogging the Trans-Atlantic Trade and Investment Partnership, a U.S.-EU free trade zone encompassing half the world economy, for months but only today have we seen the accumulated tension bubble up to the surface.
French president Francois Hollande said Tuesday that France “will never accept” challenges to its farming and culture in exchange for better access to U.S. markets. “That’s why at this stage, France says no,” the Socialist leader said at a conference on left-wing politics.
Read More
Following this weekend’s leak by Greenpeace
demonstrating not only that the TTIP is driven entirely by narrow
corporate interests, but that Obama is openly willing to reneg on his
pro-environment agenda just to pass the Transatlantic Treaty at any
cost, the blowback arrived earlier today when France became the first
major European nation which threatened to reject the huge free trade
deal between the U.S. and the European Union, because according to AP “it’s too friendly to U.S. business and probably doomed.”Signs of trouble have been dogging the Trans-Atlantic Trade and Investment Partnership, a U.S.-EU free trade zone encompassing half the world economy, for months but only today have we seen the accumulated tension bubble up to the surface.
French president Francois Hollande said Tuesday that France “will never accept” challenges to its farming and culture in exchange for better access to U.S. markets. “That’s why at this stage, France says no,” the Socialist leader said at a conference on left-wing politics.
Read More
by Edward Snowden, The Intercept:
I’ve been waiting 40 years for someone like you.” Those were the first
words Daniel Ellsberg spoke to me when we met last year. Dan and I felt
an immediate kinship; we both knew what it meant to risk so much — and
to be irrevocably changed — by revealing secret truths.
One of the challenges of being a whistleblower is living with the knowledge that people continue to sit, just as you did, at those desks, in that unit, throughout the agency, who see what you saw and comply in silence, without resistance or complaint. They learn to live not just with untruths but with unnecessary untruths, dangerous untruths, corrosive untruths. It is a double tragedy: What begins as a survival strategy ends with the compromise of the human being it sought to preserve and the diminishing of the democracy meant to justify the sacrifice.
Read More
I’ve been waiting 40 years for someone like you.” Those were the first
words Daniel Ellsberg spoke to me when we met last year. Dan and I felt
an immediate kinship; we both knew what it meant to risk so much — and
to be irrevocably changed — by revealing secret truths.One of the challenges of being a whistleblower is living with the knowledge that people continue to sit, just as you did, at those desks, in that unit, throughout the agency, who see what you saw and comply in silence, without resistance or complaint. They learn to live not just with untruths but with unnecessary untruths, dangerous untruths, corrosive untruths. It is a double tragedy: What begins as a survival strategy ends with the compromise of the human being it sought to preserve and the diminishing of the democracy meant to justify the sacrifice.
Read More
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