Submitted by Tyler Durden on 12/14/2015 - 15:07
"With the recent strength in the USD we are seeing a huge global dollar nominal GDP recession - the worst since the 1960s."
Merkel Backpedals On Migrants Amid Growing Furor
Submitted by Tyler Durden on 12/14/2015 - 14:53 "We want to, and we will, noticeably reduce the number of refugees," Angela Merkel said in a keynote speech during the CDU party congress in Karlsruhe, Germany. Although the Iron Chancellor kept an upbeat tone with regard to migrants, it now seems as though even she realizes that the current situation - wherein over a million asylum seekers have inundated the country over the last twelve months alone - simply isn't tenable in the long run.
Junk Contagion Spreads: Investment Grade Bonds Plunge To 2-Year Lows, Treasury Liquidity Collapses, CLOs Next
Submitted by Tyler Durden on 12/14/2015 - 14:49 First it was just junk, then investment grade bonds started getting whacked, then liquidity in the 10Y Treasury imploded, and now CLOs are getting hit: “The price declines are alarming and worrying," according to Rishad Ahluwalia, JPMorgan’s head of global CLO research.
It's Not Just ETFs Anymore, Cash Bond Markets Are Plunging
Submitted by Tyler Durden on 12/14/2015 - 14:35 While high-yield bond ETFs have been under massive pressure, some have argued that this carnage has yet to really hit the underlying cash bond market (since the flows are more exchanges between two parties as opposed to redeeming ETFs for actual bonds). It would appear that pattern is changing as today the bloodbath in ETFs is spilling directly into the corporate bond markets themselves with every sector in investment grade and high yield deep in the red.
Fitch Warns Of "Historic Junk Milestone" As US Defaults Surge
Submitted by Tyler Durden on 12/14/2015 - 14:26 Despite the rear-view-mirror-gazing optimists proclamations that default rates have been low (which matters not one jot when pricing the future expectations of default into corporate bond cashflows), Fitch just released its forecast for 2016 defaults and notes that more than $5.5 billion of December defaults has increased the trailing 12-month default rate to 3.3% from 3% at the end of November, marking the 13th consecutive month that defaulted volume exceeded $1.5 billion, closing in on the 14-month run seen in 2008-2009.Did Goldman Just Do It Again?
Submitted by Tyler Durden on 12/14/2015 - 14:18
It's Firesale Time For Brazil's Fake Goldman; The Real Goldman Answers 6 Key Questions
Submitted by Tyler Durden on 12/14/2015 - 14:11 “They need to show they’re selling quickly to calm markets and stop the free fall of their shares. For that to happen they need to accept the price buyers want to pay.”
SEC Arrives "On Site" At Third Avenue, And Is "Closely" Monitoring The Situation
Submitted by Tyler Durden on 12/14/2015 - 14:00 Several days after the biggest credit event in years took place, the SEC has released a statement by its spokeswoman Gina Talamona, who said that the "commission staff is on site, and we continue to closely evaluate the fund’s efforts to ensure it provides an orderly process that best protects investors."
Marine Le Pen Will Reap What The EU Has Sown
Submitted by Tyler Durden on 12/14/2015 - 13:50 Many people are cheering now that yesterday Marine Le Pen and her Front National (FN) party didn’t get to take over government in any regions in the France regional elections. They should think again. FN did get a lot more votes than the last time around, and, though she will be a little disappointed after last weekend’s results, it’s exactly as Le Pen herself said: “Nothing can stop us”.
Is Oil Close To A Tradable Bottom?
Submitted by Tyler Durden on 12/14/2015 - 13:15 Despite the downward pressure on oil, the devil's advocate wonders: could oil be setting up a tradable bottom?
Trump Slams Hillary's "Stupid Policies" That Have "Killed Hundreds Of Thousands"
Submitted by Tyler Durden on 12/14/2015 - 13:00 Having disposed of Saudi's "dopey, daddy's boy" Prince bin Talal, Donald Trump has turned his attention back to domestic affairs, taking Hillary Clinton head on. With some of his most heated comments yet, The Hill reports, the Republican presidential front-runner is pinning blame for the Syrian civil war and the rise of the Islamic State in Iraq and Syria (ISIS) on Hillary Clinton.
Janet Yellen's "Junk Bonds Are Contained" Moment
Submitted by Tyler Durden on 12/14/2015 - 12:38 "While there might be a few areas where I have concerns, such as deteriorating underwriting standards in leveraged lending, farmland prices, a few things, I don't see those excesses having developed at this point.... Taking into account a broad range of metrics that bear on financial stability, our overall assessment at this point is that threats are moderate."
President Obama To Give "Update" On ISIS - Live Feed
Submitted by Tyler Durden on 12/14/2015 - 12:21 Having crushed the "greatest global threat" over the weekend with a "bullshit" deal, President Obama turns his attention back to that other thing... the war on terror. In a statement which will, in The White House's words, "update the nation on the US campaign to Degrade and Destroy ISIL," Obama will, we are sure, explain why they didn't bomb ISIS' oil facilities, why they are still allies with Saudi Arabia, why Russia's "success" is just propaganda, and how awesome the US-based coalition is (as opposed to the bad guys, which includes Putin). Grab your popcorn.
Deja Vu All Over Again
Submitted by Tyler Durden on 12/14/2015 - 12:00
Over the last two decades the Fed’s interventionism has created artificial booms and real busts. Their
dreadful mistakes are “fixed” by currency debasement, lower interest
rates, and money printing – creating even worse mistakes. They have
successfully gutted the American economy and left a hollowed out shell. The coming collapse will be three pronged as stocks, bonds, and real estate are all simultaneously overvalued. Junk
bonds are the canary in a coalmine. High end real estate in NYC has
topped out. New and existing homes sales growth has stalled out.
Retailers desperately slash prices to maintain sales, while destroying
their profits. Corporate profits are falling. The stock market is
teetering on the edge.
Camera-On-A-Stick Goes Full Kodak - Crashes 16% To Record Lows
Submitted by Tyler Durden on 12/14/2015 - 11:46 Camera-on-a-stick is down 83% from its October 2014 (the end of QE3) highs (and down 75% since Jim Cramer said it was "bargain" in July). GoPro is down 33% from its IPO price... and down 16% today as more analysts realize now is the time to downgrade before it goes full Kodak.
How To Determine If Your Fund Is At Risk Of Runs, Gating And Liquidation, In One Chart
Submitted by Tyler Durden on 12/14/2015 - 11:25 In light of surging concerns about mutual and hedge fund fixed income (and soon other asset classes) "gating", "runs" or outright liquidation, Deutsche Bank has prepared the following infographic which summarizes the main choke points which predispose both open and closed-end funds to runs or outright shutdown.
S&P 500 Breaks Below Key 2,000 Level, Lowest In 2 Months
Submitted by Tyler Durden on 12/14/2015 - 11:19 For the first time October 15th, S&P 500 cash has broken below the key "everything is awesome" 2,000 level...
by Jeff Nielson, Sprott Money:
Part I of this series explained how most of what we call “banking,” and in particular “fractional-reserve banking,” is inherently criminal and fraudulent. What the banks call “business” would be a crime if perpetrated by any other entity in our societies.
Part II of this series noted how after the Big Banks blew up our financial system in 2008 (with their reckless gambling and systemic frauds), both the Big Banks and our corrupt governments promised “never again.” They agreed to reduce the insane “leverage ratio” (i.e. fraud ratio) of the Big Banks back to quasi-reasonable proportions.
Read More
Part I of this series explained how most of what we call “banking,” and in particular “fractional-reserve banking,” is inherently criminal and fraudulent. What the banks call “business” would be a crime if perpetrated by any other entity in our societies.
Part II of this series noted how after the Big Banks blew up our financial system in 2008 (with their reckless gambling and systemic frauds), both the Big Banks and our corrupt governments promised “never again.” They agreed to reduce the insane “leverage ratio” (i.e. fraud ratio) of the Big Banks back to quasi-reasonable proportions.
Read More
by Dave Hodges, The Common Sense Show:
The above caption embodies how a growing number of Americans are now viewing this President, and for good reason.
I have never seen such a time when multiple, trusted sources are experiencing such a convergence of information regarding a massive amount of well-coordinated terrorist attacks upon the United States at the exact same time. However, I am experiencing this very thing at this very moment.
One caveat, do not expect aid and protection from this administration.
Read More
The above caption embodies how a growing number of Americans are now viewing this President, and for good reason.
I have never seen such a time when multiple, trusted sources are experiencing such a convergence of information regarding a massive amount of well-coordinated terrorist attacks upon the United States at the exact same time. However, I am experiencing this very thing at this very moment.
One caveat, do not expect aid and protection from this administration.
Read More
from The Daily Coin:
Chris Powell, Treasurer/Secretary GATA.org, is passionate about humanity. If you listen, with both ears, to his words and how they tie into his actions you will hear and see passion in motion. He and Bill Murphy, Chairman, GATA.org and publisher of LeMetropole Cafe, have been working to help us get out of this economic stranglehold for close to two decades. The Gold Anti-Trust Action Committee, lovingly known as GATA, was organized in the fall of 1998 to expose, oppose, and litigate against collusion to control the price and supply of gold and related financial instruments.
If I had to bet I would bet my life that virtually every major central bank in the world right now is a participant in the gold price suppression scheme preparing for some sort of international currency reset whose timetable has not been made known to us.
Read More
Chris Powell, Treasurer/Secretary GATA.org, is passionate about humanity. If you listen, with both ears, to his words and how they tie into his actions you will hear and see passion in motion. He and Bill Murphy, Chairman, GATA.org and publisher of LeMetropole Cafe, have been working to help us get out of this economic stranglehold for close to two decades. The Gold Anti-Trust Action Committee, lovingly known as GATA, was organized in the fall of 1998 to expose, oppose, and litigate against collusion to control the price and supply of gold and related financial instruments.
If I had to bet I would bet my life that virtually every major central bank in the world right now is a participant in the gold price suppression scheme preparing for some sort of international currency reset whose timetable has not been made known to us.
Read More
from The News Doctors:
The US is to send some 10,000 troops to Iraq to provide support for a
90,000-strong force from the Persian Gulf states, a leading Iraqi
opposition MP warned.
The politician said the plan was announced to the Iraqi government during a visit by US Senator John McCain.
During a meeting in Baghdad on November 27, McCain told Prime Minister Haider Abadi and a number of senior Iraqi cabinet and military officials that the decision was ‘non-negotiable’, claimed Hanan Fatlawi, the head of the opposition Irada Movement, RT reported.
Read More
The US is to send some 10,000 troops to Iraq to provide support for a
90,000-strong force from the Persian Gulf states, a leading Iraqi
opposition MP warned.The politician said the plan was announced to the Iraqi government during a visit by US Senator John McCain.
During a meeting in Baghdad on November 27, McCain told Prime Minister Haider Abadi and a number of senior Iraqi cabinet and military officials that the decision was ‘non-negotiable’, claimed Hanan Fatlawi, the head of the opposition Irada Movement, RT reported.
Read More
from The Sleuth Journal:
“I remember when there were those who were exposing government corruption and it was called a ‘conspiracy theory.’ Now, 50 years later. I find that it was not theory. In fact, it is now a reality.” (Jeremiah 11:9) – Posted from commenter at Bradlee Dean’s Facebook page.
I am humored by the sincere ignorance and conscientious stupidity that some people in this country accept concerning their representatives on the topic of “Global terror.” Friends, it is not just America that I am now addressing, I am addressing the peoples, the governments and the incumbent representatives on a global scale.
Read More
“I remember when there were those who were exposing government corruption and it was called a ‘conspiracy theory.’ Now, 50 years later. I find that it was not theory. In fact, it is now a reality.” (Jeremiah 11:9) – Posted from commenter at Bradlee Dean’s Facebook page.
I am humored by the sincere ignorance and conscientious stupidity that some people in this country accept concerning their representatives on the topic of “Global terror.” Friends, it is not just America that I am now addressing, I am addressing the peoples, the governments and the incumbent representatives on a global scale.
Read More
from Washington’s Blog:
Put yourself in the shoes of the evil .01% for a few moments. How you roll is with Emperor’s New Clothes obvious crimes:
Put yourself in the shoes of the evil .01% for a few moments. How you roll is with Emperor’s New Clothes obvious crimes:
- Unlawful and lie-began wars.
- Crimes Against Humanity for ongoing policy of poverty that’s killed over 400 million human beings just since 1995 (~75% children; more deaths than from all wars in Earth’s recorded history).
- So-called “money” that is actually debt that creates accelerating and unpayable total debt. The .01% hide ~$30 trillion in tax havens.
from Western Journalism:
In a slam-bang takedown summation of the Democratic presidential front-runner, Republican president candidate Donald Trump said Hillary Clinton lacks “the strength or the stamina” needed to run the country.
Trump further summed up Clinton as “terrible,” denounced her record as secretary of state and said she should not even be allowed to run for office due to the email scandal engulfing her. Clinton “caused tremendous havoc and tremendous death,” he said.
Trump’s comments came during a Fox & Friends interview Saturday hen he was asked about the former first lady as well as his Republican rivals. The Hillary Clinton segment of Trump’s talk starts about the 7 minute mark.
Read More
In a slam-bang takedown summation of the Democratic presidential front-runner, Republican president candidate Donald Trump said Hillary Clinton lacks “the strength or the stamina” needed to run the country.
Trump further summed up Clinton as “terrible,” denounced her record as secretary of state and said she should not even be allowed to run for office due to the email scandal engulfing her. Clinton “caused tremendous havoc and tremendous death,” he said.
Trump’s comments came during a Fox & Friends interview Saturday hen he was asked about the former first lady as well as his Republican rivals. The Hillary Clinton segment of Trump’s talk starts about the 7 minute mark.
Read More
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