The more things change, the more they stay the same. The financial world loves focusing on some future event that they think will change everything. There is always some economic data, an important meeting like G20, the Fed, the ECB or a speech by Yellen or some other central bank head who hasn’t got a clue what is happening or what will happen. So now at the end of August, markets have all been focusing on Yellen’s speech at Jackson Hole Wyoming. Jackson Hole is of course a very befitting name since what the Fed is starring into is a massive black hole into which major parts of the financial system will disappear.
Andy Hoffman is back to kick off September by helping us document the collapse. From 6.2 BILLION in PAPER Gold dumped on the futures market in just the past week to BREXIT 2 which Andy predicts is coming in November when Trump beats Hillary, the end game is coming into focus quickly.
Institute for Science and International Security, a Washington-based think tank, says the United States and its negotiating partners agreed to secret loopholes in the Iran nuclear deal to allow evasion of restrictions.
David Albright, think tank prez, former UN weapons inspector: Report based on information provided by several officials of governments involved in the negotiations.
“The exemptions or loopholes are happening in secret, and it appears that they favor Iran.”
Report: Exemptions were approved by the joint commission the deal created to oversee implementation of the accord
White House official: Admin briefed Congress “frequently and comprehensively” on the joint commission’s work.
Yes, this has all become mentally exhausting for anyone that has been around what are still referred to as “markets for the past 25 years. In fact, I’d say it has become mentally exhausting to anyone still capable of thinking on their own, not having to be spoon fed an explanation for every logical and illogical outcome that seemingly approaches at a more rapid rate as each day passes. To most thinkers, it is frustrating that fundamentals seem to be nothing more than an old pastime to everyone else. Our world has succumbed to an existence in which a mere few can and will dictate their desired outcomes as if it is a certainty and not just an experiment in which unintended consequences are nothing more than a potential nuisance.
Check out the rental trends in your own city.
The construction boom of apartment and condo buildings around the US, especially in high-priced metro areas on the East Coast and the West Coast, is now colliding with the reality of squeezed household incomes and soaring rents. As a consequence, in many of the hottest markets – including San Francisco, where the explosion in rents is called “The Housing Crisis” – rents have started to drop.
Landlords are competing with a surge of new supply from new apartment and condo developments. Incentives, such as one month free rent, a rarity in hot markets like San Francisco, have reappeared. And in some of the neighborhoods with new apartment towers, the “now leasing” banners are everywhere.
Greg Hunter of USAWatchdog.com talks about the most important news stories from the past week.
We have recently written about how Angela Merkel in Germany has encouraged her citizens to begin stockpiling food and provisions to protect themselves in the event of an “attack”.
Since, in the last week, the US State Department has issued an updated travel warning for Israel, the West Bank, and the Gaza strip as well as Turkey.
And now, just this week, Russians are being awakened by the deafening noise of emergency war sirens as a simultaneous “military combat readiness check” took place for Russian soldiers from August 25th-31st according to Russian Defense Minister Sergei Shoigu. Vladimir Putin ordered these readiness checks in the Southern, Western, and Central military districts.
Back in its heyday, the trading floor in UBS’ Stamford office, once the largest in the world and big enough to hold 23 basketball courts, was a symbol of everything that went right on Wall Street. Packed with traders, it was a non-stop cacophony of screaming, constant motion and furious energy – to an outsider sheer chaos, which somehow ended up generating millions in profits for the bank every day. Some time around 2008, just before the financial crisis hit, it looked like this.
HUGE FALLOUT FROM THE HANJIN BANKRUPTCY PROTECTION AS 10 SHIPS ARE FROZEN AT VARIOUS PORTS/OIL PLUNGES INTO THE 42 DOLLAR HANDLE/POOR USA FIGURES FOR TODAY: POOR PRODUCTIVITY, POOR NATIONAL MFG PMI/LACKLUSTER AUTOSALES/WAL-MART LAYING OFF 7,000 POOR SOULS
The Shanghai fix is at 10:15 pm est and 2:15 am est
The fix for London is at 2 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds within 15 minutes of London’s first fix.
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