Submitted by Tyler Durden on 12/05/2015 - 17:33 Less than a week after the San Bernardino shooting, the ghost of ISIS terrorism has finally landed in London, where moments ago news broke that a man wielding a machete screamed "this is for Syria" before slashing a person's throat at London's Leytonstone subway station, and attacking up to three people.
JPMorgan Warns Of "Eye-Catching" 76% Probability Of Recession
Just days ago Citi pronounced, much to the chagrin of the status-quo-hugging Fed faithful,
that given the turn in corporate profits (and concerns over margin
sustainability) that the chance of a recession in the US had risen to
65% (and on that basis had a bearish outlook for US equities). Now, as
other major sell-side shops jump on the equity un-bullish narrative,
JPMorgan's Michael Feroli warns that in the past, a low unemployment
rate, rising compensation, falling margins, and elevated durables
investment have historically signaled an elevated risk that an expansion
is nearing its end... and puts the probability of a US recession within 3 years at 76%. Of course, you do not need to worry, because Janet Yellen said this is not true (thoug
'Bankrupt' Mortgage Lenders Unveil The Zero-Money-Down "Friends-And-Family" Mortgage
Submitted by Tyler Durden on 12/05/2015 - 17:30 Ripping straight from the pages of the "those who failed to learn from history are doomed... period" book of centrally-planned desperation to maintain American Dream 'wealth' by unsustainably levitating home prices, the government's bankruptcy mortgage guarantors have just announced "HomeReady Mortgages." These so-called 'enhanced affordable lending products - provided by the US taxpayer - enable 97%-plus Loan-to-Value loans to borrowers based not on their income (which is too low) but on "non-borrowers" like extended family or children! "Whatever it takes" to maintain the illusion of normalcy and hand out more money just reached peak Einsteinian insanity.
Will 2017 Be The Year Of The EM Corporate Debt Crisis?
Submitted by Tyler Durden on 12/05/2015 - 16:55 "The liquidity picture for EM corporates in 2017 looks less appealing, due to a 38% yoy increase in USD bond maturities (to USD122bn) and lingering uncertainty on commodity prices (an important component of the corporate sectors’ cash flow) and FX (a headwind for domestic-oriented players). A further depletion in cash buffers and reduced appetite for certain portions of the EM corporate universe may lead to increased refinancing stress in 2017."Did Turkey Just Invade Iraq To Protect Erdogan's ISIS Oil Smuggling Routes?
Submitted by Tyler Durden on 12/05/2015 - 16:53
Broken Commodities Continue To Crush Investors
Submitted by Tyler Durden on 12/05/2015 - 16:20 The point is, if you are going to attempt to catch a proverbial falling knife on a chart, at least do so only at a point you deem to be a “make or break” type level. Whether or not you can likely accurately identify a “make or break” level is another matter. The point is that, should that level fail, like it did on the CRB Index a year ago, you know the security is broken and it is time to walk away.
How Gun Laws 'Work' In Reality
Uncivil disobedience...
These Ain't Your Grandfather's "Jobs" - Why Friday's Rip Should Be Sold
Submitted by Tyler Durden on 12/05/2015 - 15:10 The "Jobs Friday" ritual is getting truly absurd. So it can’t be repeated often enough: These artifacts of the BLS’ seasonally maladjusted, trend-cycle modeled, heavily imputed/crafted and five times revised “jobs” numbers have precious little to do with the real health of the main street economy. Indeed, the six-year run of job gains since early 2010 primarily represent “born-again jobs” and part-time gigs. In economic terms, they do not remotely resemble your grandfather’s industrial era economy when a “job” lasted 40 to 50 hours per week all year round; and most of what the BLS survey counted as “jobs” paid a living wage. Not now. Not even close.
Ben Bernanke's Employer Citadel Alleges That "Leveling The Playing Field" Will Actually Hurt Stock Markets
The market is now officially so broken, that the biggest HFT-player no longer even makes any sense.
The San Bernardino Massacre: Perceptions, Propaganda, And Blowback
As for the authoritarians who want to use incidents like the San Bernardino attack as a pretext to abolish the Constitution and institute a regime of total surveillance and outright repression: where was their vaunted surveillance system in this case? We didn’t detect this plot – and perhaps that’s because watching everyone, and collecting everyone’s information, blinds us to the real villains hiding in our midst. Then again, perhaps ferreting out villains isn’t the real purpose of government spying.
326,000 Native-Born Americans Lost Their Job In November: Why This Remains The Most Important Jobs Chart
According to the BLS' Household Survey, while 375,000 foreign-born workers found jobs in November, a whopping 326,000 native-born Americans lost theirs.
The Beginning Of The End Of The Cult Of Draghi
Submitted by Tyler Durden on 12/05/2015 - 12:30 Draghi’s Friday talk of a “no limit” ECB balance sheet must have Weidmann and responsible members of the ECB at their wits end. It’s the nature of monetary inflations that there’s always a need for more. Throughout history, it’s been ‘just one more round of ‘printing’’ or ‘just one more year and then we’ll rein things in’. But things spiral out of control – and there’s a lot of currency with a lot more zeros. It can end in hyperinflation, at least when monetary inflation is afflicting the real economy. Today’s strange variety is inflating securities market Bubbles. It will end with Bubbles bursting and confidence collapsing. Integral to the bursting Bubble thesis is that policymakers are losing control. Granted, such analysis has about zero credibility when markets are in melt-up mode. But perhaps the markets’ response to Draghi is a forewarning.
ISIS Calls Mass Shooters "Soldiers Of The Caliphate" As New Details Emerge About Wife
"Two soliders of the Khilafah executed an attack on the Inland Regional Cener in San Bernardino, California on the 20th of Safar. Light weapons were used, which led to the deaths of 14 disbelievers."
The "Real Stuff" Economy Is Falling Apart
Submitted by Tyler Durden on 12/05/2015 - 11:00 Can an economy thrive if it doesn’t make or move physical things? Intuitively the answer is no, because most of the services either maintain the status quo (like healthcare and restaurants) or (like houses) consume rather than build capital. The US, in short, is engaged in an experiment to see how long an economy can function with services growing and manufacturing contracting. As with so many of today’s monetary and fiscal experiments, no one knows when definitive results will come in. But the data so far aren’t encouraging.
In a Washington Post article of December 12, 2001 about Donald Rumsfeld, there was a one liner that was so incredibly relevant. That sentence was:
“He could be swilling Diet Coke with the secure knowledge that if not for his turnaround of Big Pharma giant G.D.Searle & Co. and successful touting of the sweetener aspartame, the beverage would not be possible”.
If Donald Rumsfeld had never been born think of how many millions of people the world over would not suffer headaches and dizziness.
Read More
by Mac Slavo, SHTFPlan:
The debt avalanches. Once it accumulates enough mass, and momentum is not sufficient to stop its collapse, it overwhelms its host, and will come crashing down on the rest of the system, too.
Across the planet, there are hundreds of governments – local, state and national – as well as business and households who are reaching a breaking point. Already drowning in debt, many are about to default on loan repayments, and thus set off a series of debt crises that will be met with market chaos and a tightening of easy credit for those who are most vulnerable to implosion.
With Puerto Rico also timed for a major default that will burden the United States, Mexico is ready to crash, and bracing for impact. Its biggest construction firm, which has been dependent upon government contracts that are now drying up, is facing default on a $31 million interest bill.
Read More
The debt avalanches. Once it accumulates enough mass, and momentum is not sufficient to stop its collapse, it overwhelms its host, and will come crashing down on the rest of the system, too.
Across the planet, there are hundreds of governments – local, state and national – as well as business and households who are reaching a breaking point. Already drowning in debt, many are about to default on loan repayments, and thus set off a series of debt crises that will be met with market chaos and a tightening of easy credit for those who are most vulnerable to implosion.
With Puerto Rico also timed for a major default that will burden the United States, Mexico is ready to crash, and bracing for impact. Its biggest construction firm, which has been dependent upon government contracts that are now drying up, is facing default on a $31 million interest bill.
Read More
from Zero Hedge:
One month ago, during the latest minimum wage protest by
fast food workers, we presented the machine that would soon put most of
them out of a job. We were referring to the nemesis of low-skilled
burger flippers everywhere, the Momentum Machines burger maker.
The robot is shown below. It occupies 24 square feet, and is much smaller and efficient than most assembly-line fast-food operations. It provides “gourmet cooking methods never before used in a fast food restaurant” and will deposit the completed burger into a bag. It does all of this without a trace of attitude.
Read More
One month ago, during the latest minimum wage protest by
fast food workers, we presented the machine that would soon put most of
them out of a job. We were referring to the nemesis of low-skilled
burger flippers everywhere, the Momentum Machines burger maker.The robot is shown below. It occupies 24 square feet, and is much smaller and efficient than most assembly-line fast-food operations. It provides “gourmet cooking methods never before used in a fast food restaurant” and will deposit the completed burger into a bag. It does all of this without a trace of attitude.
Read More
from The News Doctors:
On
the heels of two mass shootings which captured nationwide attention,
Senate Democrats today pledged to take action on gun safety legislation.
FSRN’s Nell Abram has more.
A holiday party for San Bernardino County Department of Public Health staff was the scene of the most recent mass shooting in the U.S. Wednesday. The California attack came just days after a shooter killed three people and wounded 9 others at a Planned Parenthood clinic in Colorado Springs.
Read More
On
the heels of two mass shootings which captured nationwide attention,
Senate Democrats today pledged to take action on gun safety legislation.
FSRN’s Nell Abram has more.A holiday party for San Bernardino County Department of Public Health staff was the scene of the most recent mass shooting in the U.S. Wednesday. The California attack came just days after a shooter killed three people and wounded 9 others at a Planned Parenthood clinic in Colorado Springs.
Read More
from Sputnik:
The United States is on the brink of a new nuclear arms race that will elevate the risk of nuclear apocalypse to Cold War levels, former Secretary of Defense William Perry warned on Thursday.
The United States is on the brink of a new nuclear arms race that will elevate the risk of nuclear apocalypse to Cold War levels, former Secretary of Defense William Perry warned on Thursday.
Perry, who from 1994 to 1997 served as Pentagon chief
under President Bill Clinton, delivered his remarks at an event hosted
by the Defense Writers Group
Read More…
“We’re now at the precipice, maybe I should say
the brink, of a new nuclear arms race,” he said. “This arms race will
be at least as expensive as the arms race we had during the Cold War,
which is a lot of money.”
from GordonTLong:
by Daisy Luther, The Organic Prepper:
One of the many adages of the prepper world is, “If you can’t defend it, you don’t own it.”
If you’re new to the preparedness lifestyle, this saying basically means that all of your supplies, your stockpiles, your carefully selected buckets of food, and the time and money you spent on preparation will be for naught if you can’t protect it against those who may seek to take it from you. This is generally accepted as a truth in the prepper community. Most of us believe that we must be prepared to defend ourselves and our property without relying on any type of “authorities” to protect us.
Read More
One of the many adages of the prepper world is, “If you can’t defend it, you don’t own it.”
If you’re new to the preparedness lifestyle, this saying basically means that all of your supplies, your stockpiles, your carefully selected buckets of food, and the time and money you spent on preparation will be for naught if you can’t protect it against those who may seek to take it from you. This is generally accepted as a truth in the prepper community. Most of us believe that we must be prepared to defend ourselves and our property without relying on any type of “authorities” to protect us.
Read More
from The Sleuth Journal:
Roosevelt turned from sanctions toward embargoes against Japanbefore WWII and later carried out full military attacks against “America’s enemies”.
Japan depended relied heavily on American oil and metals to maintain its war in China, yet, the United States embargoed Japanese access to gasoline for its aviation.
Further sanctions materialized when the United States expand its embargo to include tools, iron, steel, copper and bronze, among other important materials.
Read More
Roosevelt turned from sanctions toward embargoes against Japanbefore WWII and later carried out full military attacks against “America’s enemies”.
Japan depended relied heavily on American oil and metals to maintain its war in China, yet, the United States embargoed Japanese access to gasoline for its aviation.
Further sanctions materialized when the United States expand its embargo to include tools, iron, steel, copper and bronze, among other important materials.
Read More
by Michael Snyder, End of the American Dream:
Random Islamic terror attacks are now going to be part of every day life in America. Once upon a time, those of us that warned that Islamic terrorists were already in this country were branded “alarmists”, but not anymore. When Muhammad Youssef Abdulazeez gunned down four U.S. Marines at a Navy and Marine reserve center in Chattanooga, Tennessee earlier this year, that was just a very small preview of what is coming. On Wednesday, a married couple named Syed Farook and Tashfeen Malik fired at least 65 shots at a holiday office party in San Bernardino, California. 14 people were killed and 21 were wounded. Later on, hundreds of shots were exchanged as police officers pursued the vehicle that Farook and Malik were attempting to escape in. Fortunately, Farook and Malik are no longer a threat to any of us, but there are thousands more radicals just like them that are already living in this country and that are ready to act at any time.
Read More…
Random Islamic terror attacks are now going to be part of every day life in America. Once upon a time, those of us that warned that Islamic terrorists were already in this country were branded “alarmists”, but not anymore. When Muhammad Youssef Abdulazeez gunned down four U.S. Marines at a Navy and Marine reserve center in Chattanooga, Tennessee earlier this year, that was just a very small preview of what is coming. On Wednesday, a married couple named Syed Farook and Tashfeen Malik fired at least 65 shots at a holiday office party in San Bernardino, California. 14 people were killed and 21 were wounded. Later on, hundreds of shots were exchanged as police officers pursued the vehicle that Farook and Malik were attempting to escape in. Fortunately, Farook and Malik are no longer a threat to any of us, but there are thousands more radicals just like them that are already living in this country and that are ready to act at any time.
Read More…
from Truth Stream Media:
Just in case you weren’t absolutely sure, the dog is absolutely being wagged in San Bernardino.
Never in a million years would what you are about to see happen at a real terrorist mass shooting crime scene.
Reporters from every mainstream media outlet you can think of swarmed the apartment of mass shooting suspects Syed Farook and his wife Tashfeen Malik, the couple we have been told are the ISIS-pledged terrorists who shot 14 people at the Inland Regional Center in San Bernardino just two days ago.
Read More
by Jeff Nielson, Sprott Money:Just in case you weren’t absolutely sure, the dog is absolutely being wagged in San Bernardino.
Never in a million years would what you are about to see happen at a real terrorist mass shooting crime scene.
Reporters from every mainstream media outlet you can think of swarmed the apartment of mass shooting suspects Syed Farook and his wife Tashfeen Malik, the couple we have been told are the ISIS-pledged terrorists who shot 14 people at the Inland Regional Center in San Bernardino just two days ago.
Read More
The Inside Story Why The ECB Decided "The Markets Needed To Be Disappointed" And How It All Fell Apart
Submitted by Tyler Durden on 12/05/2015 - 18:49 Here is what really happened: the ECB tried to engineer a modest market selloff because the "market needed to be disappointed", coupled with a modest rise in the EUR to give the Fed some rate-hike breathing room. Instead the market's dramatic overreaction in stocks and FX forced Draghi to not only panic but to publicly come out and admit that the only purpose of his Friday speech was to offset the damage from his failure to defeat the opposition at the governing council and to send markets surging. Which they promptly did.
Governments and Central Banksters around the world have proven time and
time again throughout history that they simply don’t get it. They don’t
get economics, they don’t get finance and they are so far out of touch
with everyday people on the street that they don’t get them either.Once again, another government has proven this point. Greece, in what some are calling an early April Fools’ joke, has mandated that ALL Greek citizens are to declare the valuables they own outside of the highly controlled and corrupt banking sector.
In particular, all citizens of Greece are to declare the following:
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