Submitted by Tyler Durden on 08/19/2015 - 08:57
To the utter horror of Ashley Madison's 37 million customers - and to the sheer delight of millions of divorce attorney around the globe - last night the Impact Team did just as it threatened it would, and released a data dump with all the user data in the form of a 9.7GB torrent.
Food for thought...Governments use food as the worst weapon of all...Starving people are unable to resist...
from TruthNeverTold:
The Next Leg Of The Commodity Carnage: Attention Shifts To Traders - Glencore Crashes, Noble Default Risk Soars
Submitted by Tyler Durden on 08/19/2015 - 10:34 One month ago we asked: "Which will be first: Trafigura, Mercuria or Glencore." Today we got our answer.
Nasdaq Drops Below 5,000 'Maginot' Line; S&P Unchanged In 2015
Submitted by Tyler Durden on 08/19/2015 - 11:32 The Nasdaq has once again dropped below its crucial "everything is awesome" 5,000 level. This follows The Dow losing 18,000 and The S&P losing 2,100 and is back to unchanged in 2015. Somebody do something!!
by Michael Snyder, The Economic Collapse Blog:
Yields on the riskiest junk bonds are absolutely soaring and the price
of copper just hit a fresh six year low. To most people, those pieces
of financial news are meaningless. But if you understand history, and
you are aware of the patterns that immediately preceded previous stock
market crashes, then you know how how huge both of
those signs are. During the summer of 2008, junk bond prices absolutely
cratered as junk bond yields skyrocketed. This was a very clear signal
that financial markets were about to crash, and sure enough a couple of
months later it happened. Now the exact same thing is happening again. The following comes from a Wall Street On Parade article that was posted on Tuesday entitled “Keep Your Eye on Junk Bonds: They’re Starting to Behave Like ‘08“…
Read More…
Yields on the riskiest junk bonds are absolutely soaring and the price
of copper just hit a fresh six year low. To most people, those pieces
of financial news are meaningless. But if you understand history, and
you are aware of the patterns that immediately preceded previous stock
market crashes, then you know how how huge both of
those signs are. During the summer of 2008, junk bond prices absolutely
cratered as junk bond yields skyrocketed. This was a very clear signal
that financial markets were about to crash, and sure enough a couple of
months later it happened. Now the exact same thing is happening again. The following comes from a Wall Street On Parade article that was posted on Tuesday entitled “Keep Your Eye on Junk Bonds: They’re Starting to Behave Like ‘08“…Read More…
China was thumped pretty hard last night, as the market there lost
about 6%, though it didn’t seem to matter to Europe, nor our stock
market, where the early going saw the indices slightly red in pretty
dull trading. The market leaked a bit more in the afternoon (sort of the
opposite of yesterday), led by the semis. Away from stocks, green paper
was stronger, oil gained 1%, fixed income was a little weaker, though
the long end was hit hard, while the metals were mixed, with gold flat
versus a 3% trashing in silver. The precious metals move appeared to be
in sympathy with a decline in base metals, as copper lost 2%.The Other Side Of Summer
Once again there isn’t a whole heck of a lot to say about the non-action in the market, as it just kind of opens, moves a bit, sits until the end of the day, then moves again one way or the other. But I don’t think this particular pattern is indicative of a “healthy” market, and I continue to believe if (i.e., when) we start to see a little weakness, that is liable to lead to a whole lot more.
Included below are three questions and answers from today’s Q&A with Bill Fleckenstein. The questions are from his subscribers and they get to read Fleckenstein’s answers every day.
Read More
One Word Defines This Era: Stagnation
Submitted by Tyler Durden on 08/19/2015 - 11:27
If we call stagnation progress, what have we accomplished?
What Today's Oil Plunge To 2009 Levels Means For Earnings, In One Chart
Submitted by Tyler Durden on 08/19/2015 - 11:04 Moments ago, following the DOE report of an unexpected jump in oil inventories which caught all algos by surprise, oil plunged by over $1 to a price not seen since 2009. So what does this mean for S&P 500 earnings in general, and energy earnings in particular? Nothing short of a total wipeout as the following chart, showing energy EPS with a 4 month lag vs oil prices, from Citigroup reveals.
S&P 500 Breaks Below Key Technical Support
Submitted by Tyler Durden on 08/19/2015 - 10:51 The S&P 500 has broken back below its 200-day moving average once again...
Today we’re going to dig into the Fed rate hike, what you should be
buying and selling in the event of a correction, and some options for
protecting and growing your money with “baby bonds.”Let’s get to it…
Q: Let’s get right to the elephant in the room. What happens to stocks after the Fed rate hike, which could be coming up as soon as next month?
Well, I think that psychologically since there hasn’t been a hike for more than nine years now, I think it is going to, for lack of a better phrase, freak people out.
Read More
Crude Plunges To Cycle Lows After Biggest Inventory Build In 4 Months Despite Ongoing Production Cuts
Submitted by Tyler Durden on 08/19/2015 - 10:37 Following last night's API inventory 'draw', DOE reported a much larger than expected build of 2.62 million barrels in crude inventory - the biggest weekly build since April. WTI Crude prices are tumbing on the news. However, it is worth noting that US crude production fell for the 3rd wek in the last 4 to its lowest in over 3 months. This is the biggest 4-week production decline since Oct 2013.
After 6 Years Of QE, And A $4.5 Trillion Balance Sheet, St. Louis Fed Admits QE Was A Mistake
Submitted by Tyler Durden on 08/19/2015 - 10:22 "Evidence in support of Bernanke's view of the channels through which QE works is at best mixed. There is no work, to my knowledge, that establishes a link from QE to the ultimate goals of the Fed inflation and real economic activity. Indeed, casual evidence suggests that QE has been ineffective in increasing inflation."
from Western Journalism:
The Iran nuclear deal championed by President Obama was dealt a massive
blow Tuesday when a second powerful Senate Democrat publicly announced
his opposition to the agreement, joining about a dozen House Democrats.
Sen. Robert Menendez, D-N.J., the former chairman of the Senate Foreign Relations Committee, said Tuesday in a speech at Seton Hall University in South Orange, N.J., that he could not support the deal, NBC News reported.
“I have looked into my own soul and my devotion to principle may once again lead me to an unpopular course, but if Iran is to acquire a nuclear bomb, it will not have my name on it,” Menendez said. “It is for these reasons that I will vote to disapprove the agreement and, if called upon, would vote to override a veto.”
Read More
The Iran nuclear deal championed by President Obama was dealt a massive
blow Tuesday when a second powerful Senate Democrat publicly announced
his opposition to the agreement, joining about a dozen House Democrats.Sen. Robert Menendez, D-N.J., the former chairman of the Senate Foreign Relations Committee, said Tuesday in a speech at Seton Hall University in South Orange, N.J., that he could not support the deal, NBC News reported.
“I have looked into my own soul and my devotion to principle may once again lead me to an unpopular course, but if Iran is to acquire a nuclear bomb, it will not have my name on it,” Menendez said. “It is for these reasons that I will vote to disapprove the agreement and, if called upon, would vote to override a veto.”
Read More
China Rushes To Inject Hundreds Of Billions In Liquidity To Offset Yuan Intervention
Submitted by Tyler Durden on 08/19/2015 - 10:20 Now that the PBoC has created a situation where it’s forced to prop up the yuan via open FX ops just about as often as it’s forced to prop up the SHCOMP via China Securities Finance, concerns are growing about liquidity and a severe tightening of money markets, prompting the PBoC to inject hundreds of billions in emergency funding.
US Dollar Flash Crash Sparks Precious Metals Surge
Submitted by Tyler Durden on 08/19/2015 - 09:58 After yesterday's slamming efforts, precious metals are well bid this morning following the USD flash crash this morning. Silver has regained yesterday's losses and gold is hitting one month highs...
Stocks Are Tanking - Dow Down 200Pts, Near Monday's Lows
Submitted by Tyler Durden on 08/19/2015 - 09:36 Amid heavy volume at the open, US equity markets are rapidly reverting to Monday's lows. The Dow is now down 200 points from the Monday highs. Having seen the biggest squeeze on Monday, small caps are leading the plunge.
One Trader's FOMC Take - "A Rate Hike Is Coming And It Is Not Priced In"
Submitted by Tyler Durden on 08/19/2015 - 09:29 A rate hike is coming. It is coming because the economy is not in crisis and zero rates are crisis rates, Bloomberg’s Richard Breslow writes. It is coming because the benefits of starting down the path to monetary policy normality are vitally important to the future health of the economy and restoring the Fed’s reaction function. The world can share the benefits and the costs. But one thing we do know, is that with all the hinting and polling and talk of trajectory, it is not priced in.
"Low" Inflation Print Sparks Panic-Selling In Treasuries
Submitted by Tyler Durden on 08/19/2015 - 09:12 Because nothing says "sell bonds" like a dismally low inflation print. From the moment CPI printed (lower than expected), Treasury yields started to rise and accelerate higher as traders reflect on the chances of a delayed Fed rate hike... bad-enough news is bad news for bonds (for now) and stocks...
Turkey Turmoiling: Lira Plunges To Record Low On Financial, Political, Terrorism Fears
Submitted by Tyler Durden on 08/19/2015 - 09:08 Turkey’s lira is once again in free fall, after testing all-time lows against the dollar during multiple sessions of late as political turmoil and civil war wreak havoc on the currency. As BofAML notes, "now that the CBT has left rates unchanged and announced that it will largely rely on selling more FX to tame volatility in FX market while waiting Fed to hike first, TRY still remains a fair game."
Consumer Prices Rise At Slowest Pace Since 2014 As Airfares Plunge, Car Costs Slide, But 'Rents' Jump
Submitted by Tyler Durden on 08/19/2015 - 08:40 US Consumer Prices (CPI) missed expectations MoM with a mere 0.1% rise (half the expected 0.2% rise). Core CPI (ex food and energy) rose just 0.1% - its weakest growth since Dec 2014 with the biggest drivers being a 5.6% plunge in airfares - the biggest drop since 1995 and a 0.3% surge in 'owner equivalent rents' driven by lodging. Gas prices rose for the 3rd consecutive month (unequivocally good?) but new and used car prices tumbled.
Strapped For Cash In NYC? You Can Now Sleep In A Taxi For $39 A Night
Submitted by Tyler Durden on 08/19/2015 - 08:15 Who says there’s no affordable housing in NYC or San Francisco?filed under (unt
from What Really Happened:
My thanks to everyone who took the time to write and suggest
corrections. Many changes have been made to this list based on the info
sent in and more will be added in the very near future.
As a rule I do not list the names of people who contribute information for reasons of their privacy and safety, but if you contributed to these changes and wish to see your name appropriately acknowledged, please email me and I would be happy to include the proper credits.
The following is a partial list of a large number of persons who have recently met their demise in suspicious circumstances who appear to have some connection to the Clintons. I stress partial because new additions are coming in faster than closets can be found to hide the bodies in!
Read More
My thanks to everyone who took the time to write and suggest
corrections. Many changes have been made to this list based on the info
sent in and more will be added in the very near future.As a rule I do not list the names of people who contribute information for reasons of their privacy and safety, but if you contributed to these changes and wish to see your name appropriately acknowledged, please email me and I would be happy to include the proper credits.
The following is a partial list of a large number of persons who have recently met their demise in suspicious circumstances who appear to have some connection to the Clintons. I stress partial because new additions are coming in faster than closets can be found to hide the bodies in!
Read More
from The Wealth Watchman:
If you can't hold it...You don't own it...
from BusinessInsider:
Along with gold, silver is one of the most sought-after metals.Investors, industrialists, artists and others enjoy its many unique properties such as malleability, conductivity, strength and reflectivity.
It also has many beneficial applications in medicine, photography, decoration and technology.
Read More…
from Wolf Street:
Canada is likely in a technical recession, after the economy shrank for
the first five months of the year. It’s heavily dependent on
commodities. The oil bust and the broader commodity rout have been
blamed liberally. The theory goes that the problem is contained. The oil
patch may be wallowing in the mire. But no problem, the rest of Canada
is fine.
The swoon of the Canadian dollar against the US dollar has caused a bout of false hope that this would make Canadian exports of manufactured goods more attractive to buyers in the US and elsewhere, and that the economy could thus export its way out of trouble. This theory has now run aground.
Read More
Canada is likely in a technical recession, after the economy shrank for
the first five months of the year. It’s heavily dependent on
commodities. The oil bust and the broader commodity rout have been
blamed liberally. The theory goes that the problem is contained. The oil
patch may be wallowing in the mire. But no problem, the rest of Canada
is fine.The swoon of the Canadian dollar against the US dollar has caused a bout of false hope that this would make Canadian exports of manufactured goods more attractive to buyers in the US and elsewhere, and that the economy could thus export its way out of trouble. This theory has now run aground.
Read More
from USA Watchdog:
Mexican business magnate Hugo Salinas Price says that there are “many more” devaluations coming for China’s currency.
Salinas Price thinks that many other countries will cut the value of their currencies because the world economy is in deep trouble. Salinas Price contends, “When China does this, that is very serious. Already, the United States is receiving huge quantities of Chinese goods. It has an enormous trade deficit with China, and now that they devalued, it’s going to get worse. There is going to have to be a corresponding move on the part of the United States. . . . This is going to be the beginning of a breakdown in international trade. Is the United States going to stand by because China continues to devalue? How much has the Chinese currency been devalued, not even 8%. That’s not going to help the Chinese much. When you have a devaluation, it has to be about 40%. Then it really has teeth in it. I think the Chinese will continue to devalue.”
Read More
Mexican business magnate Hugo Salinas Price says that there are “many more” devaluations coming for China’s currency.
Salinas Price thinks that many other countries will cut the value of their currencies because the world economy is in deep trouble. Salinas Price contends, “When China does this, that is very serious. Already, the United States is receiving huge quantities of Chinese goods. It has an enormous trade deficit with China, and now that they devalued, it’s going to get worse. There is going to have to be a corresponding move on the part of the United States. . . . This is going to be the beginning of a breakdown in international trade. Is the United States going to stand by because China continues to devalue? How much has the Chinese currency been devalued, not even 8%. That’s not going to help the Chinese much. When you have a devaluation, it has to be about 40%. Then it really has teeth in it. I think the Chinese will continue to devalue.”
Read More
by Finian Cunningham, Daily Reckoning:
US President Barack Obama has given an extraordinary ultimatum to the
Republican-controlled Congress, arguing that they must not block the
nuclear accord with Iran. It’s either “deal or war,” he says.
In a televised nationwide address on August 5, Obama said: “Congressional rejection of this deal leaves any US administration that is absolutely committed to preventing Iran from getting a nuclear weapon with one option: another war in the Middle East. I say this not to be provocative. I am stating a fact.”
The American Congress is due to vote on whether to accept the Joint Comprehensive Plan of Action signed July 14 between Iran and the P5+1 group of world powers –the US, Britain, France, Germany, Russia and China. Republicans are openly vowing to reject the JCPOA, along with hawkish Democrats such as Senator Chuck Schumer. Opposition within the Congress may even be enough to override a presidential veto to push through the nuclear accord.
Read More
US President Barack Obama has given an extraordinary ultimatum to the
Republican-controlled Congress, arguing that they must not block the
nuclear accord with Iran. It’s either “deal or war,” he says.In a televised nationwide address on August 5, Obama said: “Congressional rejection of this deal leaves any US administration that is absolutely committed to preventing Iran from getting a nuclear weapon with one option: another war in the Middle East. I say this not to be provocative. I am stating a fact.”
The American Congress is due to vote on whether to accept the Joint Comprehensive Plan of Action signed July 14 between Iran and the P5+1 group of world powers –the US, Britain, France, Germany, Russia and China. Republicans are openly vowing to reject the JCPOA, along with hawkish Democrats such as Senator Chuck Schumer. Opposition within the Congress may even be enough to override a presidential veto to push through the nuclear accord.
Read More
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