Submitted by Tyler Durden on 07/14/2015 - 19:05 Just like the first IMF report, which we correctly compared to the IMF opening a Pandora's box, and with which the IMF also obliterated the careful plans of the Troika, so with this follow up, the IMF effectively crushes the Greek bailout process and literally tears Pandora's box to shreds, with the following summary assessment: "Greece’s debt can now only be made sustainable through debt relief measures that go far beyond what Europe has been willing to consider so far."
Tsipras Stunner: Creditors Said "There Is No Point In Holding Elections" In Bailed Out Countries
Submitted by Tyler Durden on 07/14/2015 - 15:54 As if the long-suffering Greek people need more tragedy in their lives, here comes an admission from their chosen "leader" that Greece, as a sovereign nation, no longer exists: GREEK PM TSIPRAS SAYS LENDERS GIVE A MESSAGE THAT IN COUNTRIES UNDER A BAILOUT THERE IS NO POINT IN HOLDING ELECTIONS.
Freedom Or The Slaughterhouse? The American Police State From A To Z
Submitted by Tyler Durden on 07/14/2015 - 22:30 Despite the best efforts of some to sound the alarm, the nation is being locked down into a militarized, mechanized, hypersensitive, legalistic, self-righteous, goose-stepping antithesis of every principle upon which this nation was founded. All the while, the nation’s citizens seem content to buy into a carefully constructed, benevolent vision of life in America that bears little resemblance to the gritty, pain-etched reality that plagues those unfortunate enough to not belong to the rarefied elite. For those whose minds have been short-circuited into believing the candy-coated propaganda peddled by the politicians, here is an A-to-Z, back-to-the-basics primer of what life in the United States of America is really all about.
"Everything Is Awesome" In China - Retail Sales, Industrial Production, & GDP All Mysteriously Crush Expectations
Submitted by Tyler Durden on 07/14/2015 - 22:04 Retail Sales increased 10.6% YoY (smashing expectations of a 10.2% YoY Gain); Industrial Production rose 6.8% (crushing expectations of a 6.0% YoY gain); and the big daddy of goalseeked data, China GDP managed to rise 7.0% (comfortably beating expectations of just 6.8% but still the lowest since Q1 2009). Now it is up to the markets to decide if good data is bad news because it gives the government less excuses to throw more "measures" at the market; or is good data, good news as it "proves" the economic fundamentals underlying massively exponential gains in Chinese stocks (and excessive valuations compared to the rest of the world) are justified. When the data hit Chinese stocks were at the lows of the day, and for now, it appears good data is bad news as stocks are not bouncing at all.
De-Dollarization - Mapping The Ruin Of A Reserve Currency
Submitted by Tyler Durden on 07/14/2015 - 22:00 The dollar has been a stalwart of international trade over the majority of the last century. Around the time of the formation of the Eurozone, it reached its recent peak at 71.0% of official foreign exchange reserves. Since then, its composition of global reserves has more recently dropped to a more modest 62.9% in 2014. However, the dollar is slowly losing its status as the world’s undisputed reserve currency.
How The US Government Blew $1 Billion In Taxpayer Funds On "Ghost Schools" In Afghanistan
Submitted by Tyler Durden on 07/14/2015 - 21:30 In the wake of so many wasteful, inhumane and disastrous foreign policy failures, the U.S. government has been desperate to highlight some significant successes in order to justify all of these tragic foreign imperial blunders. One such supposed success relates to education in Afghanistan, an area into which some $1 billion in taxpayer money has been spent to build schools and pay teachers according to Buzzfeed. U.S. Government officials have consistently trumpeted all of the good work that has been done in this regard, but there’s one slight problem. Not only are most of the statistics complete bogus, but in many cases, a lot of this U.S. wealth that was meant to be targeted for education, has gone straight to the coffers of some of the most ruthless warlords in the county. How could this happen you ask?
Chinese Big Cap Stocks Continue To Slide; Bridgewater Warns, "Typical Of Market Dominated by Unsophisticated Investors"
Submitted by Tyler Durden on 07/14/2015 - 21:17 As $170 billion hedge fund Bridgewater noted, "new participants are now discovering that making money in the markets is difficult," and sure enough, as WSJ reports, Asian hedge funds have suffered steep losses in June. Several hedge funds were hit with losses on longs (unable to square positions due to suspensions) as well as a dearth of effective tools to short, or bet against, Chinese stocks as they dropped, highlighting the downside of investing in an environment where managing risks is difficult and government actions are unpredictable.As the world anxiously awaits tonight's Retail Sales, Industrial Production, and crucially #goalseeked GDP, Chinese big cap stocks are continuing losses from the last 2 days. The CSI-300 - China's S&P 500 - is now down over 7% from post-intervention highs on Monday.
Varoufakis: Greek Deal Is "Coup", Turns Greece Into "Vassal" State, And Deals "Decisive Blow" To European Project
Submitted by Tyler Durden on 07/14/2015 - 20:33 Europeans, even those who give not a damn for Greece, ought to beware.The Euro Summit statement of yesterday morning has nothing to do with economics, nor with any concern for the type of reform agenda capable of lifting Greece out of its mire. It is purely and simply a manifestation of the politics of humiliation in action.
'Wanted' Obama "Hope" Artist Has None Left, Turns Himself In To Police
Submitted by Tyler Durden on 07/14/2015 - 20:00 World-renowned street artist Shepard Fairey - infamous for creating Obama's "Hope" image during the 2008 presidential campaign and more recently the "obey" street art - has apparently run out of it. He was arraigned today, after turning himself into Detroit police, on felony charges that he illegally tagged public and private property in the city. Detroit Police last month said Fairey set a bad example for other artists when he plastered his signature Andre the Giant posters on buildings in and near downtown.
(Not So) Elementary My Dear Watson: The Problem With Pension Plans
Submitted by Tyler Durden on 07/14/2015 - 19:36 If you’re into mysteries, there’s certainly no shortage of them around the world. Enjoying them is one thing, solving them is quite another.... Mysterious hounds and mysterious criminals certainly help keep our minds razor sharp as well as entertained. Yet, perhaps the biggest mystery in the world today involves - pension plans. Many people have them, and most people fully know what their eventual pension payout will be. Unfortunately, the average person doesn’t know how their pension plan is actually taped together, and fewer still, appreciate that the “promise” of their “eventual pension payout” is not as guaranteed as they may believe.
"Everybody Benefits By Avoiding Defaults": Citi Explains How To Goalseek Student Loan ABS Ratings
Submitted by Tyler Durden on 07/14/2015 - 19:00 Moody's and Fitch are taking a hard look at student loan-backed ABS and they don't necessarily like what they see. Fortunately, Citi has some pointers on how the ratings agencies might go about avoiding downgrades.
IMF May Walk Away From Greek Bailout
Submitted by Tyler Durden on 07/14/2015 - 18:40 "The International Monetary Fund has sent its strongest signal that it may walk away from Greece’s new bailout programme. Under its rules, the IMF is not allowed to participate in a bailout if a country’s debt is deemed unsustainable and there is no prospect of it returning to private bond markets for financing. The IMF has bent its rules to participate in previous Greek bailouts, but the memo suggests it can no longer do so," FT reports.
Systemic Risks Surge As Correlation Among Stocks Shoots Higher
Submitted by Tyler Durden on 07/14/2015 - 18:40 Despite everyone saying "it's a stock-picking market" (notably one of Cliff Asness' pet peeves) recent co-movements in global equities suggests once again that there is just one factor driving returns as systemic codependence surges...
Trump Tramples Trends, Dominates National Poll For Second Week
Submitted by Tyler Durden on 07/14/2015 - 18:20 Despite losing marquee PGA and LPGA events, a bankruptcy at his Puerto Rico golf course, and the lowest ratings for his Miss USA pageant ever, Donald Trump has topped the rest of the GOP presidential field in polls for the second time in as many weeks...
It sounds almost unimaginable, but it isn’t the script of a new Hollywood movie: the Pentagon has literally forced movie producers to turn villains into heroes, add U.S. Military rescues, as well as changing scenes that they deem “sensitive.”
Producers and directors say they are literally being forced to re-write scripts. If the United States Department of Defense deems their content inappropriate, the changes are strongly “suggested.”
The relevant files about this military involvement in Hollywood, from the California-based Department of Defense Entertainment Liaison Office were released after a Freedom of Information Act request by Bath University’s Dr Matthew Alford, whose research focuses on the relationship between entertainment, political power, and propaganda in the United States.
The 1,400-page military document can be downloaded as the 2004-5 weekly reports here and the 2005-6 weekly reports here.
Read More @ GlobalResearch.ca
hat tip: Waldemar P.
The propaganda machine still rolls on. And those ignorant to the truth of history are still praising a Federal Union power that one day will be found responsible for the assassination of Martin Luther King. Which we all now know was the FBI. But still the statist apologists continue on and this Constitutional destroyer is praised.
by J. D. Heyes, Natural News:
When President Obama signed Executive Order 13603, entitled, “National
Defense Resources Preparedness,” in 2012, many immediately saw it for
what it certainly can be: An order mobilizing a huge force of American
slave labor.
The 10-page document is essentially a blueprint for a complete federal takeover of the entire U.S. economy, an act that dwarfs, by far, what Obamacare has successfully taken over (the entire health insurance market, for starters).
In particular, the plan calls for taking control of:
— “all commodities and products… that are capable of being ingested by either human beings or animals”;
Read More @ NaturalNews.com
When President Obama signed Executive Order 13603, entitled, “National
Defense Resources Preparedness,” in 2012, many immediately saw it for
what it certainly can be: An order mobilizing a huge force of American
slave labor.The 10-page document is essentially a blueprint for a complete federal takeover of the entire U.S. economy, an act that dwarfs, by far, what Obamacare has successfully taken over (the entire health insurance market, for starters).
In particular, the plan calls for taking control of:
— “all commodities and products… that are capable of being ingested by either human beings or animals”;
Read More @ NaturalNews.com
by Pam Martens, Wall Street on Parade:
Remember the Super SIV, also known as the Master Liquidity Enhancement
Conduit or MLEC? That was a 2007 scheme in the U.S. to create a toxic
waste dump where banks could stuff all their bad debts and instantly
repair their balance sheets. It didn’t fly, leaving the Federal Reserve,
Treasury Department and Federal Deposit Insurance Corp. to come up with
a raft of programs during the 2008 crisis to buy up, guarantee or ring
fence hundreds of billions of dollars in bad bank debt. That effort was
further enhanced with $13 trillion in secret, super cheap loans to Wall Street and foreign banks by the Federal Reserve.
This produced a dystopian landscape on Wall Street, with Citigroup trading at 99 cents a share during the panic, Lehman Brothers and Bear Stearns collapsed, AIG, Fannie Mae and Freddie Mac wards of the government, and Merrill Lynch, Washington Mutual and Wachovia succumbing to shot-gun marriages.
China had an equally problematic idea of how to deal with bad bank debts back in 1999 and the fingerprints of Wall Street’s biggest banks are all over that plan today. Given how Wall Street handled its own affairs in the lead up to the crash of 2008, its meddling in China’s bad debt situation today should not be comforting to anyone.
Read More @ WallStreetonParade.com
Remember the Super SIV, also known as the Master Liquidity Enhancement
Conduit or MLEC? That was a 2007 scheme in the U.S. to create a toxic
waste dump where banks could stuff all their bad debts and instantly
repair their balance sheets. It didn’t fly, leaving the Federal Reserve,
Treasury Department and Federal Deposit Insurance Corp. to come up with
a raft of programs during the 2008 crisis to buy up, guarantee or ring
fence hundreds of billions of dollars in bad bank debt. That effort was
further enhanced with $13 trillion in secret, super cheap loans to Wall Street and foreign banks by the Federal Reserve.This produced a dystopian landscape on Wall Street, with Citigroup trading at 99 cents a share during the panic, Lehman Brothers and Bear Stearns collapsed, AIG, Fannie Mae and Freddie Mac wards of the government, and Merrill Lynch, Washington Mutual and Wachovia succumbing to shot-gun marriages.
China had an equally problematic idea of how to deal with bad bank debts back in 1999 and the fingerprints of Wall Street’s biggest banks are all over that plan today. Given how Wall Street handled its own affairs in the lead up to the crash of 2008, its meddling in China’s bad debt situation today should not be comforting to anyone.
Read More @ WallStreetonParade.com
by Kurt Nimmo, Infowars:
On Monday Obama’s Defense Secretary said the Pentagon’s ban on
transgender individuals is outdated and the administration has ordered a
study to end the practice. “The Defense Department’s current
regulations regarding transgender service members are outdated and are
causing uncertainty that distracts commanders from our core missions,” Ash Carter said in a statement.
“At a time when our troops have learned from experience that the most important qualification for service members should be whether they’re able and willing to do their job, our officers and enlisted personnel are faced with certain rules that tell them the opposite.”
Carter said a working group formed to study the policy will be led by his personnel undersecretary, Brad Carson. It will operate under the presumption so-called transgenders are capable of serving “without adverse impact on military effectiveness and readiness, unless and except where objective, practical impediments are identified.”
Read More @ Infowars.com
On Monday Obama’s Defense Secretary said the Pentagon’s ban on
transgender individuals is outdated and the administration has ordered a
study to end the practice. “The Defense Department’s current
regulations regarding transgender service members are outdated and are
causing uncertainty that distracts commanders from our core missions,” Ash Carter said in a statement.“At a time when our troops have learned from experience that the most important qualification for service members should be whether they’re able and willing to do their job, our officers and enlisted personnel are faced with certain rules that tell them the opposite.”
Carter said a working group formed to study the policy will be led by his personnel undersecretary, Brad Carson. It will operate under the presumption so-called transgenders are capable of serving “without adverse impact on military effectiveness and readiness, unless and except where objective, practical impediments are identified.”
Read More @ Infowars.com
by Mac Slavo, SHTFPlan:
Reduced consumer spending is heralding a looming economic downturn, if not collapse, with an unprecedented shutdown of major box stores, restaurants and grocers underway. It doesn’t bode well for the millions of Americans who are already seriously struggling, and will only accelerate the death of the middle class.
Along with this massive shrinkage of the retail sectors will go thousands of jobs. Natural News reports:
Reduced consumer spending is heralding a looming economic downturn, if not collapse, with an unprecedented shutdown of major box stores, restaurants and grocers underway. It doesn’t bode well for the millions of Americans who are already seriously struggling, and will only accelerate the death of the middle class.
Along with this massive shrinkage of the retail sectors will go thousands of jobs. Natural News reports:
There is chatter across the web about dozens of major retail chains that are expected to permanently shutter a large number of their store locations this year. Popular names like Abercrombie & Fitch, Barnes & Noble, Chico’s, Children’s Place, Coach, Fresh & Easy, Gymboree, JCPenney, Macy’s, Office Depot, Pier One, Pep Boys, and many others are named as soon-to-be casualties in what some news sources are now referring to as the coming “retail apocalypse.”Read More @ SHTFPlan.com
from Kingworldnews:
The plunge that we saw in Chinese stocks took place after about a 150
percent move in the Shanghai Index. There’s no question that it was a
bubble, just as the U.S. dollar, bond and stock markets are bubbles.
Any suggestion that this is going to negatively impact China’s
infrastructure plans is ridiculous. The industrialization of China
continues. Their growth is still strong and that will mean that they
will continue to need natural resources. The Chinese also continue to
push the renminbi forward as one of the premier currencies of the world.
The Chinese have been ramping up their participation in the gold market by doing everything from setting up gold funds with a sovereign backing to participating in the London fix. So yes, China’s market nosedived after an extended move to the upside but these things happen. It happened in the United States in 1987, and the indices recovered over time and went to new highs on the way to a spectacular bull run. So I wouldn’t worry about China.
John Ing Continues @ King World News
The plunge that we saw in Chinese stocks took place after about a 150
percent move in the Shanghai Index. There’s no question that it was a
bubble, just as the U.S. dollar, bond and stock markets are bubbles.
Any suggestion that this is going to negatively impact China’s
infrastructure plans is ridiculous. The industrialization of China
continues. Their growth is still strong and that will mean that they
will continue to need natural resources. The Chinese also continue to
push the renminbi forward as one of the premier currencies of the world.The Chinese have been ramping up their participation in the gold market by doing everything from setting up gold funds with a sovereign backing to participating in the London fix. So yes, China’s market nosedived after an extended move to the upside but these things happen. It happened in the United States in 1987, and the indices recovered over time and went to new highs on the way to a spectacular bull run. So I wouldn’t worry about China.
John Ing Continues @ King World News
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