Friday, January 13, 2017

Trump Tweetstorm Promises Full Hacking Report In 90 Days, Slams "Guilty As Hell" Hillary

"Hillary Clinton should never have been allowed to run - guilty as hell... Totally made up facts by sleazebag political operatives, probably released by "Intelligence" even knowing there is no proof, and never will be... The "Unaffordable" Care Act will soon be history!"

DBRS Downgrades Italy, Stripping It Of Its Last "A Rating" And Raising ECB Collateral Haircuts

Moments ago DBRS announced that, just as warned earlier in the week, the rating agency stripped Italy of its last A-rating, when it downgraded italy from A (low) to BBB (high), in the process raising the cost of borrowing ECB funds for the country's struggling lenders.

Rig Count Unexpectedly Declines Following Biggest Crude Production Surge In 20 Months

Following the biggest jump in US crude production since May 2015, the US oil rig count trend continues to point to further rises in production. However, the US oil rig count tumbled most since June (-7 to 522) in the latest week.

DOJ Finds Pattern Of "Racial Discrimination" And Unconstitutional Use Of Force By Chicago Police

"The Justice Department announced today that it has found reasonable cause to believe that the Chicago Police Department (CPD) engages in a pattern or practice of using force, including deadly force, in violation of the Fourth Amendment of the Constitution.  In addition, the department also identified serious concerns about the prevalence of racially discriminatory conduct by some CPD officers."

More BULLSHIT and LIES...and the Sheeplez will probably believe it...

Here We Go Again: Syria's Assad Named As Suspect In Chemical Weapons Attack

International investigators have said for the first time that they suspect President Bashar al-Assad and his brother are responsible for the use of chemical weapons in the Syrian conflict. As the use of chemical weapons is banned under international law and could constitute a war crime, any naming of suspects could lead to their prosecution

Banks Are Dumping - JPMorgan Goes Red

Fiat Tumbles (Again) As DOJ Prepares Criminal Emissions Probe

A day after the EPA announced their probe of Fiat Chrysler's alleged "cheating" over diesel emissions tests, the company now faces criminal charges as the US department of Justice has joined the probe.

About That Record Streak Of Gains In The FTSE 100

With the mainstream media crowing proudly of the record 14-day winning-streak in Britain's FTSE 100 stock index (up 18 of the 19 days since The Fed hiked rates), we thought it worth a look at just what is going on in good ol' blighty...

"They'll Regret It" - Trader Warns Unquestioned "Trumpflation" Dogma Will Be Tested

The vast majority of market participants are showing a surprising lack of flexibility and adaptability when it comes to the Trumpflation trade. As Bloomberg's Mark Cudmore warns, they may regret it.

Volkswagen Tells Its Managers Not To Travel To The US

Volkswagen has warned its senior managers not to travel to the United States after six current and former managers were indicted for their role in the German carmaker's diesel test-cheating scheme. The company is worried the US may arrest its employees, after US AG Loretta Lynch said the DoJ would continue to pursue "the individuals responsible for orchestrating this damaging conspiracy."

Here Are The Winners And Losers From Trump's "Border Tax Adjustment"

Potential Winners: Companies with a majority of their input costs contained within the U.S; Potentially lower tax rate of 20% on sales and full deduction for input costs; U.S. Exporters: as export revenues are not subject to U.S. tax.
Potential Losers:Products, services, and intangibles imported into the U.S.; Automakers, Oil and Gas, to Retailers can be impacted; U.S. Multinationals that have relied on aggressive tax planning to shift earning overseas.

ALL... of the Largest Banks are "Economic Terrorists"...Especially...Central Banks...
Just look at the Derivatives on their books...

Deutsche Bank Rejects Charge It Is An "Economic Terrorist"

Deutsche Bank’s Turkish unit rejected claims that it’s plotting to undermine the economy, and said it’s “unacceptable” for the lender’s name to be associated with terrorism. The statement came after the daily Yeni Safak accused Deutsche Bank and other German institutions of “economic terror” against Turkey by recalling loans to companies before their their due dates.

The Eight Forces That Are Pressuring Profits

If there is any economic assumption that goes unquestioned, it's the notion that profits will remain robust for the foreseeable future. This assumption ignores the tidal forces that are now flowing against profits.

Consumer Confidence Disappoints As Trump Hope Dips

After surging to 12-year highs in December, following Trump's election victory, UMich consumer sentiment faded in January and missed expectations (98.1 vs 98.5 exp). While inflation outlooks picked up modestly off record lows, economic 'expectations' - hope - dipped from 89.5 to 88.9 as the Trump Bump appears to have stalled.

How Rising Rates Are Hurting America's Largest Mortgage Lender, In One Chart

One month ago, Freddie Mac warned that as mortgage rates continue to surge, "expect mortgage activity to be significantly subdued in 2017." Wells Fargo did not have to wait that long, and as shown in the chart below, the biggest US mortgage lender is slready suffering.

EU Fiscal (In)Discipline Summed Up In 1 Shocking Table

Breaking the rules... often and freely...

Guccifer 2.0 Emerges To Slam Intelligence Community's "Fake Evidence"

"The technical evidence contained in the reports doesn’t stand up to scrutiny. This is a crude fake.  It’s obvious that the intelligence agencies are deliberately falsifying evidence."

Core PPI Comes Hotter Than Expected, Driven By Rising "Brokerage, Investment Advice" Prices

In December, the price of gasoline and heating surged, brokerage fees jumped, and everything else was largely in line as airplane tickets dropped while the price of fruits and melons tumbled.

Core Retail Sales Growth Weakest In Almost 3 Years As Trump Animal Spirits Fade

Yesterday's confidence data showed a retracement in the 'Trump Bump' and now, just as BofA had predicted, US Retail Sales disappointed across the board in December.

JPM Earnings Jump On Slashed Expenses, FICC Trading Beats As Equity, IB Misses; Credit Card Charge-Offs Spike

In a report that was somewhat similar to that of Bank of America,  JPM reported Q4 revenues of $23.4 billion, beating estimates of $23.1 billion, on EPS of $1.71, far higher than the expected $1.42, which however like in the case of BofA was due to a cut in expenses, which came in at $6.87 billion, far below the $7.2 billion, suggesting even greater expense - i.e. compensation - reductions.

Snowden Slams Obama After Expanding "Unchained NSA" Surveillance Powers For Donald Trump

Where's The Outrage?

The left goes nuts when a private company is contractually obliged to use its own money to pay off a failed CEO. But when left-wing politicians collude with their public union supporters to rack up unpayable pension bills in the trillions, we get... crickets.

Bank Of America Misses Revenues As FICC Disappoints, EPS Beats On Accelerated Expense Reductions

Bank of America Corp. said Q4 profit rose 43% as revenue rose less than expected, however offset by rising cost-cuts. Q4 EPS of $0.40, beat expectations of $0.38 despite missing on the top line, reporting revenues of $20.22bn, below consensus of $20.89bn, as trading revenues missed dragged lower by FICC revenue of $1.96bn which missed estimates of $2.12bn.

Futures Rise On Friday 13th Ahead Of Deluge Of Bank Earnings; Dollar Continues To Decline

European shares rose as Fiat rebounded on hopes concerns about parallel to Volkswagen are overblown, Asian stocks were little as Chinese shares fell to the lowest level of 2017 after poor export data, and U.S. equity-index futures rose ahead of a deluge of bank earnings. The dollar is headed for a weekly loss and gold trades at the highest price in almost two months.

UK Labour Leader Jeremy Corbyn Accused Of "Collaborating With Russia" For Wanting Peace

Welcome to “everyone I disagree with works for Putin,” the UK version.

Guggenheim: "3% Is The Beginning Of The End"

"3% is basically the beginning of the end... as the business cycle ages, in 2019, 2020 when we could anticipate we might have another recession, that there will be another deflationary burst that will bring rates back down if we do get above 3%, but we haven't violated that trend yet."

Financial Times Editorial Seeks Restrictions On Free Speech To Stop False News "Propaganda War"

A pair of articles by the Financial Times offers quite the take on disinformation hypocrisy. Worse yet, to stop the spread of fake news, the FT editorial board wants restrictions on freedom of speech.

Visualizing Donald Trump's $20 Trillion Problem

Only a few days after Trump’s inauguration ceremony, the U.S. National Debt will creep across the important psychological barrier of $20 trillion. It’s a problem that’s been passed down to him, but it certainly puts the incoming administration in a difficult place.

If You Think "Fake News" Is A New Phenomenon, You're Wrong

The “fog of war” erupts in the confusion caused by the chaos of war. And in the media, it’s an intentional phenomenon that makes it difficult to separate fact from fiction. While the battles over war narratives evolve, they all have a common goal: to distort reality on the ground.

50 Years Of Teaching Math In 'Exceptional' America

How America became 'exceptional'...

Obama's "Farewell To Arms" As War Presidency Ends

This week as Obama gave his self-preening farewell to the nation speech, thousands of new US troops and tanks were dispatched to buttress NATO forces already at unprecedented levels in Germany, Poland and the Baltic states. Only in America, is a warmongering president feted as a 'peace leader'. Whereas his successor, Donald Trump who will be inaugurated next week, is pilloried as a traitor because he has dared to call for restoring better relations with Russia.

Mexican Drug Cartels Looting State-Owned Gas Pipelines For Black Market Sales

With gas prices soaring in Mexico, drug cartels have found a new, and very profitable, black market to exploit: stolen gasoline.  With a modest upfront capital investment of just $5,000 - $8,000, cartels have discovered they can tap directly into state-owned pipelines and steal all the supply they need which has created a booming black market.

The Utter Stupidity Of The New Cold War

Unfortunately the people of this country are not educated, by their schools, press or even their favorite websites to realize what has been done, how truly horrible it is, and how based it all is on lies. Fake news is the order of the day. Up is down, black is white, Russia is the aggressor, the U.S. is the victim. The new president must be a team-player, and for God’s sake, understand that Putin is today’s Hitler... or else.

New York Times Admits "Higher Minimum Wage May Have Losers"

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.


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