This Will Be the Greatest Legal Transfer of Wealth in History

from Daily Wealth:
Have you heard of Jet.com? It’s a new online “marketplace.”
I put marketplace in quotes, because Jet isn’t really a marketplace at all. It’s a facsimile of a marketplace. It purports to compete with Amazon – offering everything imaginable for sale. But unlike Amazon, Jet doesn’t really have much to sell… or really any products at all. What it does have, though, is lower prices than other online retailers.
Currently, Jet lists 4.5 million products for sale on its website. But it owns almost none of them. Instead, Jet copies the products and descriptions of other online retailers. It then offers the same products on its website at a lower price.
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Four US Firms With $4.8 Billion In Debt Warned This Week They May Default Any Minute

The last 3 days have seen the biggest surge in US energy credit risk since December 2014, blasting back above 1000bps. This should not be a total surprise since underlying oil prices continue to languish in "not cash-flow positive" territory for many shale producers, but, as Bloomberg reports, the industry is bracing for a wave of failures as investors that were stung by bets on an improving market earlier this year try to stay away from the sector. "It’s been eerily silent," in energy credit markets, warns one bond manager, "no one is putting up new capital here."
 

When Does The Market Breakdown Again? The Answer Is In The A-D Line

The Legendary U.S. Consumer Is Out Of Cash In These Cities

There is a very clear distinction in which cities US consumers are doing well, versus cities in which they have been tapped out. For those wondering where the US consumer is all spent out, look no further than the cities at the bottom of this chart.

Female Senator Says Men Should "Just Shut The Hell Up"

Men should "just shut the hell up" on a number of issues, says Senator Claire McCaskill, adding, "the world doesn't need your opinion on everything." We can only imagine the fallout if a male senator said the same of women?

Crude Carnages To $42 Handle - Lowest Since 'Andy Hall' August Meltup

Now down 5 of the last 6 days, WTI Crude is crumbling another 3.5% today, back to a $42 handle for the first time since the manic surge at the end of August. Furthermore, the dramatic decoupling of Oil VIX from Oil that occurred at the end of August has now converged.

Billionaire Bitch Fight: Ackman Slams Munger, Buffett For Profiting Off Fat Americans

"I have a problem with Berkshire’s ownership of Coke,” Ackman told an audience of about 200 people. “Coca-Cola has probably done more to create obesity, diabetes on a global basis than any other company in the world. "You have some of the best marketing in the world and a lot of happy skinny people drinking it in the advertising."

Macy's Massacre - 3 Years Of Wasted Buybacks Ends Financial Engineering Dreams

Macy's is down over 13% today, pushing towards a sub-$40 handle - the lowest since February 2013 - after lowering guidance and disappointing a market full of hope (and hype) that retail is back (remember, all the retail hiring last Friday). However, that is not the most prescient issue as 3 years of buying back billions of dollars of Macy's stocks - to financially-engineer earnings to ensure executive compensation is satisfactory - have been completely wasted. And worst still, the additional debt added to fund the total failure in timing of buybacks has now sent Macy's credit spiking to multi-year highs (as the stock tumbles).

Russia Floats "Trial Balloon" For "Elections" In Syria - Saudi Arabia, Rebels Shoot Down Trial Balloon

"So it is the question of he can stay: it's a red line for all the Gulf Cooperation Council. Absolutely a red line. This is something that won't be a negotiable issue."
"The Russians and the Iranians agree with each other on the topic of commitment to Assad - this commitment is final.”

Martin Armstrong Warns "It May Be Too Late"

"Our Presidents have been weakened and usurped by the insiders. Obama got to play golf with Tiger Woods while the nation he handed to the insider crowd. We need to rethink the structure of government but it may be simply too late."

Hedge Fund Hotel SunEdison Is Crashing Again - Now Down 86% In Three Months

How the mighty have fallen. Once (and still) "no brainer" hedge fund hotel, sponsored by any and all talking head; now sub-$5 share price 'languisher in the basement' of the last few years. SunEdison (down 14% today) is now down 86% from its July 20th highs as an armada of leveraged speculators flood through the straits of first-mover advantage...

Confused About What Mario Draghi Will Do Next? Here's The Official Decision Tree From His Former Employer

Now that there are "no taboos," and assuming the ECB doesn't take our advice on the '52 Mantles or the lumber, the only question is whether the central bank will pair a depo rate cut with the PSPP expansion (in whatever form it takes)....

DHS: DEPLOYS MOBILE NUCLEAR BOMB DETECTORS

from NextNewsNetwork:

“I Can’t Deny It – The Outlook For Gold Isn’t Pretty Right Now”

from Gold Core:

Today we turn our attention to the precious metal that once brought joy and riches to its owners, but now seems to bring nothing but despair and disappointment. I’m talking, of course, about gold.
There’s no point fighting it – gold is in a bear market – Money Week
It’s taken yet another tumble. After a miserable early summer, which saw new lows at $1,080 an ounce, gold enjoyed a pleasant August to October with a nice 10% rally. But it didn’t last writes Dominic Frisby in his just released article for Money Week.
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Spain: PM Rajoy Turns to Constitutional Court to Block Catalonia Independence Moves

from EuroNews:

Spanish Prime Minister Mariano Rajoy has moved to block Catalonia’s efforts to split from Spain. He announced that his centre-right government had filed an appeal with the Constitutional Court to try to invalidate a pro-independence resolution adopted two days earlier by the Catalan regional assembly.

GOVERNMENT FAILURE: Portugal Government Falls Amid Austerity Backlash

from RT:

Portugal’s pro-austerity government has been forced to resign by a leftist anti-austerity block, despite being sworn in only two weeks ago.

Putin Calls It: US Missile System Aimed at Neutralizing Russia’s Nuclear Potential

from Press TV News:

Russia warns that it will take necessary measures to counter US actions quote-to neutralize Moscow’s nuclear potential and that of other nuclear-armed countries. Vladimir Putin also criticized the US government for failing to heed Russia’s concerns over the expansion of global anti-missile security systems. He described such actions as an attempt to undermine the existing balance in the sphere of nuclear-missile weapons. Putin pledged his country will keep working on strike systems, which will be able to get past any missile defense system. The Russian president noted that the country has created and successfully test-fired a series of advanced weapons during the last three days.

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