Submitted by Tyler Durden on 05/27/2016 - 08:24
If the Trump/Sanders debate proceeds as planned in California, you’re about to witness one of the most important moments of a 2016 general election that hasn’t even begun yet. To say such a debate would be an unmitigated disaster for Hillary Clinton would be the understatement of the century. Let’s explore why.
Austria Launches Probe Into Alleged Presidential Election Postal Vote Fraud
Submitted by Tyler Durden on 05/27/2016 - 09:47 Five Austrian voting districts are being investigated in Austria over postal vote irregularities in the close-run presidential election, the interior minister has announced. Allegations of fraud arose from the far-right Freedom party of defeated candidate Norbert Hofer, after the Green candidate Alexander Van der Bellen just scrapped ahead with 31,000 votes when the postal ballot was counted.
Is The Market Priced For A Summer Rate-Hike?
Submitted by Tyler Durden on 05/27/2016 - 09:23 Last November, capital markets were discounting a rate hike five months later, based on Fed Funds futures. Same story today. Last November, the S&P 500 was trading near 2100. Same story today. Last November, VIX levels were around 14. Same story today. Last November, instead of waiting five months, the Fed hiked rates one month later; the S&P dropped by 10% over the next eight weeks... And as BofAML's Savita Subramanian warns, hiking during a profits recession usually hasn't ended well.
Stocks Shrug As USDJPY, Crude, PMs Slide After Disappointing GDP Print
Submitted by Tyler Durden on 05/27/2016 - 09:06 Stocks appear to have left early for the long weekend but USDJPY, Crude, and precious metals are sliding after the disappointing GDP print.
The Consequences Of $50 Oil
Submitted by Tyler Durden on 05/27/2016 - 08:59 If U.S. shale stays competitive, it could trigger another round of production increases from Saudi Arabia, which is determined to do its utmost to hold on to market share even as it boasts of long-term plans to build an “oil-less” economy by 2030. The Saudi bottom line has been ravaged by years of low prices, generating huge budget deficits and debts to contractors (which the Saudi government will attempt to cover through IOUs). Nevertheless, Saudi Arabia remains uniquely positioned to weather such storms; should the price fall again, it is better-placed to retain market share than the high-cost producers in the U.S. and elsewhere.
First Quarter GDP Revised Higher To 0.8%, Misses Expectations
Submitted by Tyler Durden on 05/27/2016 - 08:44 Following the terrible initial Q1 GDP print of 0.5% released one month ago, there was some hope that following some subsequent favorable inventory and trade data, the number would be revised substantially higher, with the whisper estimate rising as high as 1% or more, above the consensus estimate of 0.9%. Moments ago the BEA reported that in its first revision of Q1 growth, the US economy grew at only 0.8% annualized, a modest rebound from the original GDP report, however still missing consensus estimates.
"We Come To Mourn The Dead" - Obama Is First Sitting President To Visit Hiroshima, Offers No Apology
Submitted by Tyler Durden on 05/27/2016 - 08:05 Ealier today, Barack Obama became the first sitting US president to visit the memorial of the American atomic bombings of Japan in Hiroshima, however without offering no apology for the attacks. The trip comes amid Japanese protests over alleged crimes committed by US troops stationed in Japan. "We have a shared responsibility to look directly in the eye of history. We must ask what we must do differently to curb such suffering again," Obama said in a speech at the memorial.
Bitcoin Surges To 2016 Highs On Rising Chinese Demand; Decouples From Gold
Submitted by Tyler Durden on 05/27/2016 - 07:52 Ever since last September, when we explained that as a result of China's crackdown on capital controls, the one clear winner (in addition to Vancouver real estate) would be bitcoin, the digital currency has more than doubled in dollar terms, rising from $230 and surging as high as $500 a few months later. Overnight bitcoin, which had traded in a stable range with little of its characteristic volatility in recent months, made its latest breakout, surging nearly 5% from a $440-level, to a fresh 2016 high of $480, and has since retracted the move modestly, trading at $475 at last check.
Gundlach Predicts Yellen Will Be Dovish Today; Is "Quite Sure" Oil Prices Are Going Down Again
Submitted by Tyler Durden on 05/27/2016 - 07:16 With verious Fed presidents having whipping up the market into a hawkish frenzy in the past two weeks, leading to a dramatic repricing in summer rate hike odds with expectations for a July rate hike now over 50%, many can be "disappointed" by Yellen's speech today, at least according to Jeff Gundlach who said Yellen appears to be more cautious on raising interest rates and he expects her comments to be dovish again on Friday, when she is scheduled to speak at an event in Harvard-Radcliffe.
All Eyes On Yellen: Global Markets Flat On Dreadful Volumes, Oil Slides
Submitted by Tyler Durden on 05/27/2016 - 06:51 In a world where fundamentals don't matter, everyone's attention will be on Janet Yellen who speaks at 1:15pm today in Harvard, hoping to glean some more hints about the Fed's intentionas and next steps, including a possible rate hike in June or July. And with a long holiday in both the US and UK (US bond market closes at 2pm today), it is no surprise overnight trading volumes have been dreadful, helping keep global equities poised for the highest close in three weeks; this won't change unless Yellen says something that would disrupt the calm that’s settled over financial markets.
First Photos Of US Soldiers In Syria Released
Submitted by Tyler Durden on 05/27/2016 - 05:00 Following the propagandist double-speak gushing forth from the Obama administration over when a "boot on the ground" in Syria is a "boot on the ground," the following photographs via Agence France-Presse confirm US special operation forces in a rural village 40 miles from Raqqa. As The Guardian reports, the Pentagon press secretary, resisted commenting on the photographs and would only describe the US special operations forces’ mission in generic terms, despite the fact that these troops are at the frontline of fighting when President Obama assured America that forces are consistently behind the forward lines.
It's Over: Even MSNBC Turns On Hillary - "Stop Lying, Stop Digging"
Submitted by Tyler Durden on 05/27/2016 - 04:45 "It’s pretty remarkable," "Morning Joe" host Joe Scarborough said of Clinton’s response to the OIG watchdog report "I don’t understand why you put out a statement like that,” Scarborough added. "Stop lying, stop digging." The slam continued: “'I screwed up. I’m terribly sorry,'" he offered as alternate responses. "'I hope the American people will forgive me and I hope they will let us move on to the issues that matter.'”
And Another Week Of Selling: "In 2016, Equity Funds Have Lost The Largest Ever Outflow For The Asset Class"
Submitted by Tyler Durden on 05/27/2016 - 04:42 As BofA also put it: "Equities continued to experience outflows and lost $3.32bn (-0.1%) last week, their 4th consecutive decline. Year-to-date, equity funds have lost $58.6bn (-0.6%), the largest ever dollar outflow in any 22 week period for the asset class"
Guest Post: Has The Pope Abandoned Europe To Islam?
Submitted by Tyler Durden on 05/27/2016 - 04:00 In 2006, Pope Benedict XVI said what no Pope had ever dared to say -- that there is a link between violence and Islam. Ten years later, Pope Francis never calls those responsible for anti-Christian violence by name and never mentions the word "Islam." To scroll the list of Pope Francis's apostolic trips -- Brazil, South Korea, Albania, Turkey, Sri Lanka, Ecuador, Cuba, United States, Mexico, Kenya, Uganda, Philippines -- one could say that Europe is not exactly at the top of his agenda. The two previous pontiffs both fought for the cradle of Christendom. Pope Francis, on the contrary, simply ignores Europe, as if he already considers it lost.
by Michael Snyder, The Economic Collapse Blog:
If you allow someone to pump hours of “programming” into your mind
every single day, it is inevitable that it is eventually going to have a
major impact on how you view the world. In America today, the average
person consumes approximately 10 hours of information, news and
entertainment a day, and there are 6 giant media corporations that
overwhelmingly dominate that market. In fact, it has been estimated that
somewhere around 90 percent of the “programming” that we constantly
feed our minds comes from them, and of course they are ultimately
controlled by the elite of the world. So is there any hope for our
country as long as the vast majority of the population is continually
plugging themselves into this enormous “propaganda matrix”?
Just think about your own behavior. Even as you are reading this article the television might be playing in the background or you may have some music on. Many of us have gotten to the point where we are literally addicted to media. In fact, there are people out there that become physically uncomfortable if everything is turned off and they have to deal with complete silence.
Read More…
If you allow someone to pump hours of “programming” into your mind
every single day, it is inevitable that it is eventually going to have a
major impact on how you view the world. In America today, the average
person consumes approximately 10 hours of information, news and
entertainment a day, and there are 6 giant media corporations that
overwhelmingly dominate that market. In fact, it has been estimated that
somewhere around 90 percent of the “programming” that we constantly
feed our minds comes from them, and of course they are ultimately
controlled by the elite of the world. So is there any hope for our
country as long as the vast majority of the population is continually
plugging themselves into this enormous “propaganda matrix”?Just think about your own behavior. Even as you are reading this article the television might be playing in the background or you may have some music on. Many of us have gotten to the point where we are literally addicted to media. In fact, there are people out there that become physically uncomfortable if everything is turned off and they have to deal with complete silence.
Read More…
On Wednesday night, 43 Republican members of Congress joined the Democrats to vote for President Barack Obama’s transgender agenda.
Whereas last week Congress voted to reject this proposal—known as the Maloney Amendment—last night they voted to ratify Obama’s 2014 executive order barring federal contractors from what it describes as “discrimination” on the basis of “sexual orientation and gender identity” in their private employment policies.
And, of course, “discrimination” on the basis of “gender identity” can be something as simple as having a bathroom policy based on biological sex, not gender identity, as we learned last week from Obama’s transgender directives. And “discrimination” on the basis of “sexual orientation” can be something as reasonable as an adoption agency preferring married moms and dads for orphans, than other arrangements.
Read More
by John Vibes, Activist Post:
It was recently reported that the Chicago Police Department has
implemented an Orwellian new program that targets innocent citizens
based on indicators that they might be a person who has the potential to
carry out a crime. Similar to dystopian films like Minority Report,
a complex computer algorithm will track and catalog every citizen in
the city, and use private data about each person to determine whether or
not they could be a potential criminal.
Once an innocent civilian has been labeled as a threat, they are then notified that they have been marked as a potential criminal and that they are now under police surveillance.
This disturbing program has quietly been in place for over three years, and in that time, government agents have visited the homes of more than 1,300 innocent people who had high numbers on the list, to inform them that they are now regarded as potential criminals. According to the New York Times, Police Superintendent Eddie Johnson says that officials this year are stepping up those visits, with at least 1,000 more people.
Read More
It was recently reported that the Chicago Police Department has
implemented an Orwellian new program that targets innocent citizens
based on indicators that they might be a person who has the potential to
carry out a crime. Similar to dystopian films like Minority Report,
a complex computer algorithm will track and catalog every citizen in
the city, and use private data about each person to determine whether or
not they could be a potential criminal.Once an innocent civilian has been labeled as a threat, they are then notified that they have been marked as a potential criminal and that they are now under police surveillance.
This disturbing program has quietly been in place for over three years, and in that time, government agents have visited the homes of more than 1,300 innocent people who had high numbers on the list, to inform them that they are now regarded as potential criminals. According to the New York Times, Police Superintendent Eddie Johnson says that officials this year are stepping up those visits, with at least 1,000 more people.
Read More
from The Daily Bell:
The
Fed’s Amazing Self-Fulfilling Forecast … The Federal Reserve’s track
record of economic forecasting is a lot better than many observers
recognize. It might also offer some insight into the central bank’s
approach to managing the recovery. -Bloomberg
This Bloomberg article makes the point that the Federal Reserve is competent.
Worrisomely, such articles tend to appear at the top of the business cycle. For proponents of central banking any gradually, sustained upturn is an excuse to celebrate central bank supervision.
Read More
The
Fed’s Amazing Self-Fulfilling Forecast … The Federal Reserve’s track
record of economic forecasting is a lot better than many observers
recognize. It might also offer some insight into the central bank’s
approach to managing the recovery. -BloombergThis Bloomberg article makes the point that the Federal Reserve is competent.
Worrisomely, such articles tend to appear at the top of the business cycle. For proponents of central banking any gradually, sustained upturn is an excuse to celebrate central bank supervision.
Read More
from Harvey Organ:
JAPAN’S TANKEN MFG SURVEY AT DISMAL 3 YR LOWS/CHINA FURIOUS AT THE USA
FOR INTRODUCING HUGE TARIFFS AGAINST CORROSION RESISTANT
STEEL/SPAIN’SBANCO POPULARE PLUMMETS 20% ON A RIGHTS OFFERING AS THIS
TROUBLED BANK TRIES TO SHORE UP ITS FINANCES
i) the May gold contract is a non active contract. Yet we started the month with 5.67 tonnes of gold standing and it has increased every single day and today sits at 6.886 tonnes of gold standing:
The amount standing for gold at the comex in May is simply outstanding at 6.886 tonnes. The previous May 2015, we had only .08 tonnes standing so you can certainly witness the difference as the demand for gold by investors/sovereigns is on a torrid pace. This makes the excitement for June gold that much more intense as more players are refusing fiat and demanding only physical metal. I will be reporting daily as to how which is standing for delivery through the active month of June. June is the second largest delivery month after December.
Despite the whacking of silver, it’s OI refused to decline like gold. Our bankers and the CFTC are “quite baffled” by this. We are now in our 6th year of high open interest in silver with a low price. This has never happened before.
Read More @ HarveyOrgan.com
JAPAN’S TANKEN MFG SURVEY AT DISMAL 3 YR LOWS/CHINA FURIOUS AT THE USA
FOR INTRODUCING HUGE TARIFFS AGAINST CORROSION RESISTANT
STEEL/SPAIN’SBANCO POPULARE PLUMMETS 20% ON A RIGHTS OFFERING AS THIS
TROUBLED BANK TRIES TO SHORE UP ITS FINANCESi) the May gold contract is a non active contract. Yet we started the month with 5.67 tonnes of gold standing and it has increased every single day and today sits at 6.886 tonnes of gold standing:
The amount standing for gold at the comex in May is simply outstanding at 6.886 tonnes. The previous May 2015, we had only .08 tonnes standing so you can certainly witness the difference as the demand for gold by investors/sovereigns is on a torrid pace. This makes the excitement for June gold that much more intense as more players are refusing fiat and demanding only physical metal. I will be reporting daily as to how which is standing for delivery through the active month of June. June is the second largest delivery month after December.
Despite the whacking of silver, it’s OI refused to decline like gold. Our bankers and the CFTC are “quite baffled” by this. We are now in our 6th year of high open interest in silver with a low price. This has never happened before.
Read More @ HarveyOrgan.com
by Charlie Spiering, Breitbart:
After her dramatic chant of Taylor Swift lyrics to challenge Donald
Trump, Sen. Elizabeth Warren has turned to a new line of attack against
the presumptive Republican nominee.
“I say we throw Donald Trump down the drain,” the Massachusetts Democrat said, referring to Trump’s dismissal of government waste.
Warren made her remarks during a speech at the Center for Popular Democracy.
Earlier this month, Trump explained in an interview with George Stephanopoulos that, “they take our tax money and throw it down the drain.”
Read More
After her dramatic chant of Taylor Swift lyrics to challenge Donald
Trump, Sen. Elizabeth Warren has turned to a new line of attack against
the presumptive Republican nominee.“I say we throw Donald Trump down the drain,” the Massachusetts Democrat said, referring to Trump’s dismissal of government waste.
Warren made her remarks during a speech at the Center for Popular Democracy.
Earlier this month, Trump explained in an interview with George Stephanopoulos that, “they take our tax money and throw it down the drain.”
Read More
Antidepressants are not as effective as previously thought
by Julie Fidler, Natural Society:
Australian health experts are warning that antidepressants are not as effective as previously thought. As a result, physicians in that nation are being told to scale back on prescribing the drugs.
by Julie Fidler, Natural Society:
Australian health experts are warning that antidepressants are not as effective as previously thought. As a result, physicians in that nation are being told to scale back on prescribing the drugs.
Nearly 1 in 10 Australian adults take antidepressants – that’s 10% of the population – and a growing number of children and teens are being prescribed the psychiatric drugs. But the medications don’t work in many cases. In fact, psychiatrists say there has been a drastic breakdown in research backing antidepressants’ effectiveness.
Read More
by Susan Jones, CNSnews:
The State Department has released thousands of work-related emails that
Hillary Clinton finally turned over to that agency, but not the email quoted by the State Department’s inspector general, where Clinton talks about her reluctance to put her personal emails at risk of public disclosure.
A reporter on Wednesday quoted from that email, then asked the State Department where they got it — and why it wasn’t made public before this.
The email in question was sent to Clinton on Nov. 10, 2010 by her deputy chief of staff, who wrote: “We should talk about putting you on State email or releasing your email address to the department so you are not going to spam.”
Clinton responded: “Let’s get separate address or device, but I don’t want the risk of personal [email] being accessible.”
Read More
The State Department has released thousands of work-related emails that
Hillary Clinton finally turned over to that agency, but not the email quoted by the State Department’s inspector general, where Clinton talks about her reluctance to put her personal emails at risk of public disclosure.A reporter on Wednesday quoted from that email, then asked the State Department where they got it — and why it wasn’t made public before this.
The email in question was sent to Clinton on Nov. 10, 2010 by her deputy chief of staff, who wrote: “We should talk about putting you on State email or releasing your email address to the department so you are not going to spam.”
Clinton responded: “Let’s get separate address or device, but I don’t want the risk of personal [email] being accessible.”
Read More
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