Submitted by Tyler Durden on 08/25/2015 - 11:21 "It's not necessarily out of control yet. But if they do not provide some stability pretty soon it will begin to affect not only the markets over there, but - as we saw today and somewhat last week - it affects markets all around the world. Financial Markets are correlated. We learned that back in 2008 When the fall of Lehman spread all around the globe."
from jsnip4:
BTFD?
Submitted by Tyler Durden on 08/25/2015 - 12:01 The bubble headed bimbos and brainless stock touting twits will be in ecstasy today as the ever predictable rebound is under way. The market will soar by over 500 points at the opening as the excuse of the day is China’s desperate interest rate cut to try and stem their downward spiraling economy and markets. The Wall Street captured boob tube brigade will tell their almost non-existent viewership that all is well. The terrifying plunge is in the past. The economy is great. Housing is strong. Stocks are now a bargain. It’s the best time to buy. Now here are some facts...
Chinese Central Banker Blames Fed For Market Rout
Submitted by Tyler Durden on 08/25/2015 - 11:46 While the western mainstream media meme is that "this is all China's fault" - despite the fact that the real break happened after the FOMC Minutes last week - Xinhua reports that China central bank blames wide-spread expectations of a Fed rate hike in September for the global market rout... demanding The Fed "remain patient."
by Julie Fidler, Natural Society:
Most people don’t give much thought into what is in a package of ground beef, but 2 shocking new studies conducted by Chapman University
researchers show that what the labels on meat products say and what
consumers actually consume are sometimes very different things.
One study focused on identification of species found in ground meat products, while the other zeroed in on game meat species labeling. All of the products examined were sold on the U.S. commercial market. Researchers found examples of species mishandling in both studies.
Read More
Most people don’t give much thought into what is in a package of ground beef, but 2 shocking new studies conducted by Chapman University
researchers show that what the labels on meat products say and what
consumers actually consume are sometimes very different things.One study focused on identification of species found in ground meat products, while the other zeroed in on game meat species labeling. All of the products examined were sold on the U.S. commercial market. Researchers found examples of species mishandling in both studies.
Read More
Hedge Fund Hotel California: Smart Money Darlings Crash Up To 42% In One Week
Submitted by Tyler Durden on 08/25/2015 - 11:02 While the "hedge fund" hotel strategy works on the way up, when everyone makes roughly the same profits, it is on the way down when these hedge fund hotels become "Hotel California" - hedge funds can check out, and sometimes they can even leave... with massive losses. According to a Bloomberg analysis, many of these hedge fund hotel stocks, or companies where hedge funds hold a combined stake of at least 25%, suffered declines of as much as 42 percent in the recent stock market rout.
August 24 - A True Market Washout?
Submitted by Tyler Durden on 08/25/2015 - 10:46 It doesn’t happen too often, but occasionally we witness a true stock market “washout”. That is, a selloff marked by extremely one-sided (to the downside) trading action. Such days are exhibited by market participants that just want out at any price. The result is a day in which all market statistics are overwhelming skewed negatively. Such was the case yesterday, August 24. However, considering the selloff began with the major averages near their 52-week highs, a resumption in downside pressure would not be a surprise following whatever type of bounce materializes over the next few days or weeks.
Gold Slammed Back Below Key Technical Support
Submitted by Tyler Durden on 08/25/2015 - 10:31 Since 'everything is awesome' once again, it appears holding 'pet rocks' is no longer of any use... Gold futures have been hammered below their 50-day moving-average this morning as the USD rises...
Richmond Fed Manufacturing Collapses To 2015 Lows, Drops Most In 9 Years
Submitted by Tyler Durden on 08/25/2015 - 10:20 The 3-month bounce in the Richmond Fed Manufacturing survey... is dead. From 13 in July, August saw it collapse to 0 (massivley missing expectations of a 10 print). This is the biggest absolute drop in the index since May 2006. Across the board, underlying factors crashed with Shipments plunging, New Orders cliff-diving, order backlogs disappearing and Capacity Utilization plunging. This is exactly what we would expect after a massive inventory build up that was not accompanied by a surge in sales... but the pundits stil proclaim "no signs of an imminent US recession."
How Much Longer Can The Record New Home Sales-To-Price Divergence Continue
Submitted by Tyler Durden on 08/25/2015 - 10:14 The biggest surprise is today's new home sales data was not in the volumes of new homes sold, but the ongoing gaping divergence between volumes and prices. As we have shown previously, this record spread will have to close one way or another, and with the median new home sales price of $285,900 or virtually unchanged from a year ago, it would appear that new home buyers are finally starting to rebel against prices whose rise has far surpassed the increase in actual sales.
from Western Journalism:
The intrigue and speculation has just been pumped up regarding the
Democrats’ 2016 picture and how it may be totally reshaped in the coming
weeks. Vice President Joe Biden reportedly took time out of his
vacation at his Delaware home to travel to Washington for a secret,
unannounced meeting with Sen. Elizabeth Warren of Massachusetts. The two
are said to have met over lunch on Saturday at the Naval Observatory,
the vice president’s official residence, where they discussed a wide
range of issues impacting the 2016 race.
And with Hillary Clinton appearing to sink deeper into the Emailgate scandal with each passing day, the Biden-Warren rendezvous in D.C. is fueling all sorts of chatter about the real purpose of the get-together. Newsmax notes that “political pundits are abuzz with the possibility of a Joe Biden-Elizabeth Warren 2016 ticket.”
Read More
The intrigue and speculation has just been pumped up regarding the
Democrats’ 2016 picture and how it may be totally reshaped in the coming
weeks. Vice President Joe Biden reportedly took time out of his
vacation at his Delaware home to travel to Washington for a secret,
unannounced meeting with Sen. Elizabeth Warren of Massachusetts. The two
are said to have met over lunch on Saturday at the Naval Observatory,
the vice president’s official residence, where they discussed a wide
range of issues impacting the 2016 race.And with Hillary Clinton appearing to sink deeper into the Emailgate scandal with each passing day, the Biden-Warren rendezvous in D.C. is fueling all sorts of chatter about the real purpose of the get-together. Newsmax notes that “political pundits are abuzz with the possibility of a Joe Biden-Elizabeth Warren 2016 ticket.”
Read More
US Consumer Confidence Is Both The Highest & Lowest In 2015 Depending On Who You Ask
Submitted by Tyler Durden on 08/25/2015 - 10:08
US Services Economy "Momentum Shifts Down A Gear", Slides Back Towards 2015 Lows
Submitted by Tyler Durden on 08/25/2015 - 09:56 Hot on the heels of a 22-month low recorded by the latest flash Manufacturing PMI survey, August's preliminary Services PMI was slighlty better than expected but dipped from 55.7 to 55.2 - back towards the lowest levels of 2015. Under the surface things do not look great with New Business Volumes at their weakest since January amd Prices Charged tumbling to the lowest level since June 2013. As Markit notes, "underlying momentum within the U.S. economy had shifted down a gear even before the recent global market turmoil and escalating worries about China’s growth outlook gathered on the horizon."
US Equity Markets Give Up China Rate Cut Gains
Submitted by Tyler Durden on 08/25/2015 - 09:45 Stocks remain green but the pre-open surge on the back of a China rate cut has been erased as USDJPY rolls over...
Where Does The Market Go From Here: Two Opposing Views
Submitted by Tyler Durden on 08/25/2015 - 09:31 Yesterday's market tumble finally brought the S&P and Nasdaq alongside the Dow Jones into correction territory, send the broader index down 11% from its highs, even as a vast majority of S&P constituents already preceded the index and are either in correction or in bear market territory. And yet, following today's latest central bank intervention, this time in the long overdue Chinese interest rate cut (which will hardly have a lasting impact on either the economy or stock markets), the S&P correction may may prove to be short lived: S&P is poised to open about 4% higher, delivering the latest "Bullard" moment to the S&P, this time courtesy of China. Still, the question remains: was that it for the long overdue correction, and what comes next.
NYSE Invokes Rule 48 For Second Day In A Row Ahead Of Market Open
Submitted by Tyler Durden on 08/25/2015 - 09:15 Precisely 24 hours ago, in an attempt to pre-empt the panic-selling open, the NYSE invoked the little used Rule 48, which was to be expected: the Nasdaq 100 has just tumbled limit down and the S&P and DJIA would follow shortly. Today, however, it is unclear just why the NYSE decided to once again invoke Rule 48 as futures are set to open about 3-4% higher, and yet that is precisely what the NYSE did. As a reminder, what this means is that mandatory opening indications are not required, which in theory should make it easier to open stocks.
Case-Shiller Home Prices Dip In June, Miss For 3rd Month In A Row
Submitted by Tyler Durden on 08/25/2015 - 09:13 Home prices rose 4.97% YoY in June, according to Case-Shiller's 20-City index, missing expectations for the 3rd month in a row. Price appreciation has now been flat for 5 months - despite surging home sales - as bubblicious San Francisco saw price depreciation once again. Portland amd Denver saw the most appreciation in June. This is the second month in a row of sequential seasonally-adjusted declines in home prices, and along with TOL's dismal report this morning, suggests maybe another pillar of the 'strong' US economy meme is being kicked out... and Case-Shiller warn more than one rate hike by The Fed (or a stock market plunge) will stymie housing considerably.
"Null Entropy" & The Festering Reality Of Global Economic Growth
Submitted by Tyler Durden on 08/25/2015 - 08:54 "I have a gut feel the recent wild swings are a precursor of a more insidious trend... which is definitely not going to be our friend!"
The Fun-Durr-Mental Reason Stocks Are Up This Morning (In 1 Chart)
Submitted by Tyler Durden on 08/25/2015 - 08:36 Since we now see the China rate cut exuberance fading fast, we thought it worth reminding 'investors' what is really driving the overnight ramp. It's not the economy, it's The BoJ stupid...
Right Now, E-Mini Liquidity Is Even Worse Than Yesterday
Submitted by Tyler Durden on 08/25/2015 - 08:28 If yesterday's liquidity was bad enough to precipitate the biggest wholesale market flash crash, including the historic, first-ever "limit down" triggers for all major index futures, then be very careful what you do today because as of this moment E-mini liquidity is even worse than it was yesterday, not to mention at any other point in the past month, at this time of the day.
The
86 billion euros from the third so-called financial rescue approved for
Greece will be paid by citizens whose governments are members of the
European Union. The interests on the loans requested by the Greek
government will be paid in perpetuity by the Greek people.The third bailout will be disbursed over the next three years. The details and conditions of the program will be reviewed every two months, according to the Memorandum of Understanding (MoU) issued by the parties involved in the negotiation.
Athens major lenders called the Stability Mechanism (SM), draws annual contributions from the Member States-, the European Commission, the European Central Bank and, if Greece overcomes its first review in October, also the International Monetary Fund (IMF). This is what is now known as the quartet of creditors.
Read More
from Washington’s Blog:
Privatizations are increasingly fashionable, such as in Greece,
Ukraine, the U.S., and UK — and privatizations are a central feature of
fascism.
The core of fascism is the idea that there is some elite, whether ‘Aryan’ or ‘chosen by God,’ or otherwise, who should run things, and that everyone else exists in order to serve that elite. Inevitably, this official elite consists of the people whom the powers-that-be assign as constituting the owners of almost everything that’s valuable. Increasingly, things become those people’s private possession — even what was formerly a public asset becomes now private. Beaches become private. Schools become private. Natural resources become private.
Read More
Privatizations are increasingly fashionable, such as in Greece,
Ukraine, the U.S., and UK — and privatizations are a central feature of
fascism.The core of fascism is the idea that there is some elite, whether ‘Aryan’ or ‘chosen by God,’ or otherwise, who should run things, and that everyone else exists in order to serve that elite. Inevitably, this official elite consists of the people whom the powers-that-be assign as constituting the owners of almost everything that’s valuable. Increasingly, things become those people’s private possession — even what was formerly a public asset becomes now private. Beaches become private. Schools become private. Natural resources become private.
Read More
by SGT, SGT Report.com:
Fiends, As the global economic collapse gathers speed, please consider the following. This experiences at my local Wells Fargo in 2011 demonstrates exactly why fractional reserve banking is a fraud against the people: There’s not even enough CASH on hand at your bank to meet even a small percentage of redemptions.
And unlike precious metal, cash is just worthless fiat paper. So consider for a moment just how truly RARE physical silver and gold is… This video was recorded during a visit to Wells Fargo to withdraw cash during the relative economic calm of March, 2011 – and should speak volumes to those with the ears to hear. You may want to get some cash before there’s a run on the banks.
Fiends, As the global economic collapse gathers speed, please consider the following. This experiences at my local Wells Fargo in 2011 demonstrates exactly why fractional reserve banking is a fraud against the people: There’s not even enough CASH on hand at your bank to meet even a small percentage of redemptions.
And unlike precious metal, cash is just worthless fiat paper. So consider for a moment just how truly RARE physical silver and gold is… This video was recorded during a visit to Wells Fargo to withdraw cash during the relative economic calm of March, 2011 – and should speak volumes to those with the ears to hear. You may want to get some cash before there’s a run on the banks.
from TruthNeverTold:
from Wolf Street:
We’re having the kind of day when the New York Stock Exchange felt compelled to announce
very encouragingly before markets opened that it would halt trading for
15 minutes if the S&P 500 drops 7% to 1,833 before 3:25 p.m. Once
trading restarts and the index plunges 13% before 3:25 p.m., trading
would be suspended for a second time. If the index plunges 20% at any
point today, NYSE would shut the market entirely for the rest of the
day.
Monday’s meltdown commenced in Japan.
A follow-on to Friday’s debacle. The Nikkei started out in the hole and dove from there, ending the day down 4.6%. This is a market where the central bank has a mega-QE program in place with an explicit policy to buy equities to inflate them. Yet, despite the furious efforts by the Bank of Japan’s trading desk, the Nikkei dropped to 18,541, down 11.5% since June, the lowest since February.
Read More
We’re having the kind of day when the New York Stock Exchange felt compelled to announce
very encouragingly before markets opened that it would halt trading for
15 minutes if the S&P 500 drops 7% to 1,833 before 3:25 p.m. Once
trading restarts and the index plunges 13% before 3:25 p.m., trading
would be suspended for a second time. If the index plunges 20% at any
point today, NYSE would shut the market entirely for the rest of the
day.Monday’s meltdown commenced in Japan.
A follow-on to Friday’s debacle. The Nikkei started out in the hole and dove from there, ending the day down 4.6%. This is a market where the central bank has a mega-QE program in place with an explicit policy to buy equities to inflate them. Yet, despite the furious efforts by the Bank of Japan’s trading desk, the Nikkei dropped to 18,541, down 11.5% since June, the lowest since February.
Read More
from War is a Crime:
UPDATE:
Stabenow Yes takes potential No list down to 14. But Blumenthal is still undecided, so it’s 15.
____________
This is an update to “Which U.S. Senators Want War on Iran.” But Blumenthal is still undecided, so it’s 15.
I’ve found there isn’t really any way to touch on this topic without misunderstanding, but here’s a try. Iran has never had a nuclear weapons program or threatened to launch a war against the U.S. or Israel. Many opponents of the Iran deal in the U.S. Congress and nearly every, if not every single, proponent of the agreement in the U.S. Congress has proposed war as the alternative. Some examples are here. The White House is even telling Congress that the agreement will make a future war easier — as a selling point in favor of the deal.
Read More
UPDATE:
Stabenow Yes takes potential No list down to 14. But Blumenthal is still undecided, so it’s 15.
____________
This is an update to “Which U.S. Senators Want War on Iran.” But Blumenthal is still undecided, so it’s 15.
I’ve found there isn’t really any way to touch on this topic without misunderstanding, but here’s a try. Iran has never had a nuclear weapons program or threatened to launch a war against the U.S. or Israel. Many opponents of the Iran deal in the U.S. Congress and nearly every, if not every single, proponent of the agreement in the U.S. Congress has proposed war as the alternative. Some examples are here. The White House is even telling Congress that the agreement will make a future war easier — as a selling point in favor of the deal.
Read More
from Boom Bust:
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