Mark Grant: "I Do Not Believe, Any Longer, That The Catastrophe Can Be Avoided"
According to Mark Grant, it's over: "There are only two ways out of the current dilemma and that is growth which is not possible as the European economies contract and fare worse as the result of the austerity measures or Inflation; which Germany can’t stomach. The “at the very bottom of the barrel” answer then is not an economic response at all but a question of politics. The answer is actually when some nation cannot take it anymore; either the funding and the increase in national debt and the resultant credit downgrades or in receiving and the pain inflicted upon the populace. From the funding perspective it will be when the debts of the givers begin to match the debts of the borrowers. From the recipients it will be when the core nations decide that no more money will be given and so they will leave the funding nations and their banks with the debts and return to their own currencies and devalue. Which one comes first can only be answered by Divine Providence but I do not believe the train wreck can be stopped. I do not believe, any longer, that the catastrophe can be avoided and I would begin to immediately plan for an event that will eclipse the American financial crisis of 2007-2009 because this one will be far worse."Russian Main Sector Trading Halted
The Exter Inverted Pyramid - A Refresher
Is the "rest of the world" finally discovering the Exter inverted pyramid?
Today’s Items:
Brazil demanded more power from the IMF
before giving it more funds to address the European financial
catastrophe. The cash starved West can either agree and be dictated by
developing economies, or say no and watch their economies flounder
faster.
Facing a mortgage-like student loan debt,
53.6%, or 1.5 million, Graduates in the U.S. are either jobless or
underemployed. Those graduates that majored in zoology, anthropology,
philosophy, art, history and the humanities were among the least likely
to find jobs. Meanwhile, employment for plumbers to 2015 to 2016 is
expected to grow very strongly.
It appears that the FBI hid existence of a
third gun recovered from the murder of Border Patrol agent Brian
Terry. Yes, the Department of Injustice, under the slime-ball Holder,
is doing everything they can to obstruct the truth from ever coming
out. Gag orders were issued to Border Patrol agents; however, emails 12
hours after the murder tell a different tale than the official
fictional story. The Department of Injustice is protecting a so-called
informant… Yeah right… At the cost of justice for Brian Terry and his
family.
Because members of the Tea Party
typically oppose Obama, the IRS has been unleashed upon them. Donations
made to them are not tax deductible because the IRS is refusing to grant
non-profit status like they did with the NAACP in the 1950′s.
Harvey Organ, in and interview with Chris
Martenson, details how the banking cartel is still trying to keep a lid
on the manipulated price of gold and silver under the current economic
situation around the world. The paper raids are failing as gold, and
silver to a minor degree, holds its own because the physical is
essentially gone. In short, ignore the paper noise and keep stacking.
Next…
Untested Vaccines Causing New Wave of Polio-Like Paralysis Across India
http://www.naturalnews.com
Untested Vaccines Causing New Wave of Polio-Like Paralysis Across India
http://www.naturalnews.com
Like the Nazis during World War II, it
now appears that Bill Gates’ foundation are financially backing vaccines
to reduce the world’s population by 15%. Yes, these vaccines have
contributed to over 47000 cases of paralysis in India. So, the question
is, when will Bill Gates get the Humanitarian of the Year award?
Because of a German Court hearing,
YouTube has to take down copyrighted clips. This could be the first step
in YouTube having to pay huge sums of royalties. With that in mind, be
ready for anything from YouTube folks.
The Case Against Lehman Brothers
The Real, Jobs-Creating Economy Remains Weak
Eric De Groot at Eric De Groot - 2 hours ago
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And Credit Was Right... As Always
Presented with little comment aside from a slight Schadenfreude as the European equity market collapses back in line with the credit market's much less sanguine view of the sad reality
that is European social, economic, and political life. Meanwhile,
German 10Y yields just broke to record low yields as EUR-USD basis swaps
deteriorate and LTRO Stigma leaks to its widest since before LTRO as
Spanish 10Y yields hold above 6% once again. But apart from that LTRO
was a success and Europe is stable...AAPL Slides Under 50 DMA As Wal-Mart Implodes
Europe's
overnight reality check is weighing on stocks broadly but two names
standout. Apple is down once again, and below its 50DMA for the first
time in four months but it is Wal-Mart that is struggling under the
weight of the Mexican debacle. Walmex is down over 25% at the open
and WMT opened down over 5% on huge volume. Apple and Wal-Mart bounced
out of the gate off those lows but are leaking back now - both below
their VWAP.BOE's Andy Haldane Channels Zero Hedge, Reveals The Liquidity Mirage And The Collateral Crunch
It's
not as if this should come as a major surprise to ZeroHedge readers,
but to hear officials from the Bank of England pointing out the
sub-optimal nature of the financial system's information asymmetries is
refreshing. Be it via any one of Andrew Haldane's three so-called arms-races (Returns - the past, Speed - the present, and Safety - the future),
analogizing to the winner-takes-all 'sex-fest' blubberiest-optima of
elephant seals and their 'extinction' implications, these socially 'bad'
financial system outcomes (Leverage, HFT, and collateral and
encumbrance) are channeled superbly by the comedic Brit. A must-watch to
reassure one's self that some central bankers really get it
as, unlike before, when nobody would touch on topics covered by
ZeroHedge with a ten-foot-pole, at least they do now, if with a
one-year delay.Guest Post: Epic Fail - Part One
No
wonder one third of Americans are obese. The crap we are shoveling
into our bodies is on par with the misinformation, propaganda and lies
that are being programmed into our minds by government bureaucrats,
corrupt politicians, corporate media gurus, and central banker puppets.
Chief Clinton propaganda mouthpiece, James Carville, famously remarked
during the 1992 presidential campaign that, “It’s the economy, stupid”.
Clinton was able to successfully convince the American voters that
George Bush’s handling of the economy caused the 1991 recession. In
retrospect, it was revealed the economy had been recovering for months
prior to the election. No one could ever accuse the American people of
being perceptive, realistic or critical thinking when it comes to
economics, math, history or distinguishing between truth or lies. Our
government controlled public school system has successfully dumbed down
the populace to a level where they enjoy their slavery and prefer
conscious ignorance to critical thought.The Overnight pEURonoia Is Back - Previewing This Week's Extensive European Bond Auctions
European bond markets appear poised on the edge of the latest precipice as economic data this morning has confirmed once again that all the ECB's $1.3 trillion liquidity injection did was mask the underlying solvency issues for less than 4 months. Net result: more liquidity injections imminent (and with $2.5 trillion in asset sales and deleveraging still pending, we should probably bold and underling more). Yet what some are forgetting is that European banks would want nothing more than getting Spanish bonds back to 7.50%, the bogey which JPM defined as the level at which the NEW LTRO will be unleashed, standards of living be damned. The junkies need their fix and will do anything to get it, even crashing sovereign bond markets in the process. They may get their wish sooner than most expect: after all, this week is chock full of bond auctions in the core and periphery, where just one failure will make every forced buyer into a forced seller, as creative destruction will be the only thing to force the ECB's hand into injecting another several hundred billion in stock steroids, now that the Fed is still in its pre-presidential election quiet period.Europe Has Its Parti Quebecois Moment
In Canada, the Parti Quebecois always did better in tough economic times. When times are good, people like to hang out, talk about vacations, what they bought, which was the best Habs team of all time, and why the current version of Les Canadiens is underachieving. In tough times, people are eager to hear why the problems are someone else’s fault. Good times are always a direct result of one’s own actions; whereas, bad times tend to be blamed on someone or something else. Now they can talk a bit about how things would be better if those someone’s or something’s would change, before moving on to the best Habs player of all time, and what the current team should change to be like the old teams. Away from the election results, more economic data came out of Europe, and it is all bad. PMI missed. Spain is clearly in a recession. Bank stocks are getting hammered. The S&P futures are sitting just above 1,360. We tested the 1,358 level last week and had a strong bounce. The week before saw one sell-off get as low as 1,355 before bouncing. I think the combination of weak data, strange votes, and the realization that the firewall has no immediate impact will weigh on the market and we will break through and trade below 1,350 before we see another round of support.Daily US Opening News And Market Re-Cap: April 23
European stocks are trading lower as North America enters the market with participants coming to terms with the political events of the weekend. The collapse of the Dutch government has clouded the future for fiscal harmonisation in the Eurozone and the outperformance of the far-right in the French Presidential elections has highlighted the discontent of the populous with mainstream politics. As such, all European bourses are trading significantly lower, with the Bund seen trading higher by around 70 ticks. European government bond yield spreads against the German 10-yr reflect the caution, with the Dutch/German spread widening by over 10BPS and the Spanish yield holding above 6% for most of the session.BTFD...Gold and Silver are on SALE...
Gold Prices Hover, Trading Sluggish Ahead of Fed Meeting
The IMF meeting ended yesterday and leading world economies agreed to more than double the lending power of the IMF in an effort to protect the global economy from the euro zone contagion. This was still short of Lagarde’s $600 billion goal. The Netherlands was drawn into the spotlight over the weekend when the government failed to agree on budget cuts, making elections nearly unavoidable and casting doubt on its support from future euro zone aid. Investors will watch the China HSBC manufacturing survey at 1430 GMT as a measure of the conditions of the world’s 2nd largest economy. The Federal Reserve meets on Tuesday and Wednesday, and its statement on monetary policy is given on April 25th. The Bank of Japan meets on Friday and is expected to ease again. Trading is sluggish as the market waits for clues.Frontrunning: April 23
- A Forecast of What the Fed Will Do: Stand Pat (Hilsenrath) - they finally realized that they have to leak the opposite...
- Draghi's ECB Rejects Geithner-IMF Push for More Crisis-Fighting (Bloomberg)
- Wal-Mart's Mexico probe could lead to departures at the top (Reuters)
- The Sadly Unpalatable Solution for the Eurozone (FT)
- US Regulators Look to Ease Swaps Rules (FT)
- Yuan, Interest Rate Reform to be Gradual: China Central Bank Chief (Reuters)
- Run, Don't Walk (Hussman)
- Hollande Steals Poll March on Sarkozy (FT)
Overnight Sentiment - Run And Hide
Our equity Bloomberg screens are bright red, as equity markets sell off across the globe. Several reasons are contributing to the market selloff: 1) several firms in Asia posted weaker-than-expected earnings, 2) worries that Europe's debt crisis still threatens global growth, 3) the French elections, and 4) a breakdown of budget talks in the Netherlands.America Awakes To Sea Of European Red As Hopium Hangover Hits
If last week was Europe's days of hope, even as the continent was again breaking, predicated by the utterly ridiculous such as a successful Bill auction, a weak Spanish Bond issue, somehow spun by the propaganda crew as good despite pricing at an utterly unsustainable interest rate, and various German confidence indicators which soared to multi-year highs, today is the bitter hangover. Where to start...
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