Submitted by Tyler Durden on 12/15/2015 - 20:50
Grant Williams sets the context for tomorrow's FOMC meeting, where the Federal Reserve is widely expected to hike interest rates for the first time in nearly a decade. To say he is very skeptical of the Fed's ability to continue to control market forces much longer is a gross understatement...
“We Don’t Remember How To Raise Interest Rates. None Of Us Worked Here The Last Time We Did It”
Submitted by Tyler Durden on 12/16/2015 - 08:06 ... I found myself seeking refuge in the tiramisu staring back at me, a bit uncomfortable that I was only hearing the wah wahs of Charlie Brown’s adult voices. Until this, during the back and forth of Q&A: (Laughter around the room…) “We don’t remember how to raise interest rates. None of us worked here the last time we did it.”Analyst/money manager Michael Pento says the Fed plans on raising interest rates multiple times.
Pento explains, “The Fed isn’t going to do a one-and-done rate hike scenario like Wall Street would like you to believe. The Fed publishes . . . where they think the Fed Funds Rate . . . will be at a certain point in time. . . . At the end of next year, the median ‘dot plot’ is 1.5% on the overnight lending rate. So, the Fed is not going to raise one time and retire and go home, and that is not even the most important point. The most important point is we have reached a point where we are entering into a global recession, and this global recession is going to occur even if the Fed did not raise interest rates more than one time. It’s happening now.”
Pento, who wrote the 2013 book “The Coming Bond Market Collapse,” says almost every country in the world is in deep financial trouble and contends, “You’re seeing the bursting of this worldwide credit bubble, and the first cracks are appearing in junk debt.
Stephen Roach: "The Fed Has Set The Market Up For A Crisis"
Submitted by Tyler Durden on 12/15/2015 - 22:30 “While Fed did a great job in reacting to global financial crisis, it played an equal role in setting markets up for the crisis by running uber-accommodative monetary policy.”
Gartman: Selling On Monday, "Hunkering Down" On Tuesday, Now "Hedged" And "Comfortable"
Submitted by Tyler Durden on 12/16/2015 - 09:01 "we moved to generally “neutralize” our positions by taking on derivative positions to hedge ourselves. We did so mid-morning yesterday and now are comfortable sitting through the Fed’s decision… or “non”-decision as the case may be… later this afternoon."
Industrial Production Crashes Most Since 2009, Weather Blamed
Submitted by Tyler Durden on 12/16/2015 - 09:22 For the third month in a row US Industrial Production dropped MoM, crashing 0.6% in November (against expectations of a mere 0.2% drop). This is the 9th month of 2015 with no MoM increase in industrial production and is the biggest MoM drop since March 2012. However, for the first time since Dec 2009, Industrial Production fell YoY (down 1.2%) signalling America is deep in recession. The excuse, blame, is "unusually warm weather" which sent the utilities index down 4.3% as demand for heating tumbled. Meanwhile, Oil & Gas Well Drilling Output is the lowest this century...
Housing Starts Bounce As Permits Surge Most In 5 Years On Multi-Family Spike
Submitted by Tyler Durden on 12/16/2015 - 08:44 Housing Starts rose 10.5% in November (after plunging 12% in October) as it appears weather-weakened construction caught back up with single-family starts recovering from the plunge in October. The South saw the biggest spike (up 21%) and Northeast fell 8.5%. Building Permits rose 11% MoM (after a 5.1% last month) as multi-family spiked from 446 to 566 (driven by a 22% spike in The Midwest and The West). This is the biggest MoM gain since Dec 2010.Gold & Silver Jump Ahead Of Fed On Concerns About "World's Most Crowded Trade"
Congress To Lift Four Decade Oil Export Ban: Will It Impact Crude Prices?
Submitted by Tyler Durden on 12/16/2015 - 07:53 “The deal to lift the crude ban is a significant change in U.S. policy, but in terms of the near-term impact on prices, we expect that to be blotchy and sentiment driven. All that you’re doing is transferring the glut from the U.S., where most of the storage capacity is, to elsewhere in the world.”Frontrunning: December 16
- Fed Poised to Mark the End of an Era (Hilsenrath)
- Fed opens meeting to put an end to crisis era policy (Reuters)
- Fed's Historic Liftoff and Everything After: Decision Day Guide (BBG)
- Emerging Markets Gird for Fed Rate Increase (WSJ)
- What 7 Years at Zero Rates Have Looked Like (BBG)
- 5 Things to Watch at the Fed Meeting (WSJ)
Bill Ackman Warns 2015 May Be "The Worst Performance Year In Pershing Square’s History"
Submitted by Tyler Durden on 12/16/2015 - 07:13 "If the year finishes with our portfolio holdings at or around current values, 2015 will be the worst performance year in Pershing Square’s history, even worse than 2008 during the financial crisis when the funds declined by 12% to 13%. You might therefore find it surprising that we believe that 2015 has been a good year for our portfolio companies. How can this be?"
Global Stocks, US Futures Greet Historic Fed Day With Euphoria
Submitted by Tyler Durden on 12/16/2015 - 06:48 The day has come when the boxed-in Fed has no choice: with the vast majority of the market expecting a rate hike, Yellen has to deliver or suffer a crushing confidence blow like no other. And deliver she will, with expectations that said hike will be "as dovish as possible." For now however, the market is desperate to convince itself that just as more easing and more QE were bullish for the market, so rate hikes are just as bullish. Recall from late 2013: "tapering is not tightening," then the 2015 version of this refrain is "tightening is not tightening."
GOP Debate Post-Mortem: "Chaos" Trump, "Full Vagina" Fiorina, & "Thug-Life" Cruz
Submitted by Tyler Durden on 12/15/2015 - 23:06 Despite the best efforts to "Le Pen" Trump out of the debate, he still managed to garner the highest votes among poll audiences with regard who 'won' the debate, focusing on killing ISIS family members, border walls, shutting down the internet, and fixing America's roads and bridges. Ben Carson's moment of silence was his first truthful statement in months. The comes the Cruz-Rubio-Paul-Kasich death-match of who can explain Sunni-Shia turmoil in the most confusing way (with 'coughing' Cruz calling himself the most determined "thug" and Rubio lashing out at Cruz's plans to carpet-bomb Syria). Jeb took a swing at Trump as the "chaos president" and missed. In sum, aside from an Iowa conservative radio host who endorsed Cruz proclaiming Fiorina went "full vagina," the GOP debate appeared more a dick-measuring competition as contestant after contestant lined up to seem more hawkish.
You Want War? Russia Is Ready For War
Submitted by Tyler Durden on 12/15/2015 - 22:20 Since mid-2014 the Pentagon has run all manner of war games – as many as 16 times, under different scenarios – pitting NATO against Russia. All scenarios were favorable to NATO. All simulations yielded the same victor: Russia. And that’s why Erdogan’s erratic behavior actually terrifies quite a few real players from Washington to Brussels.
from Wolf Street:
As a Europhile British ex-pat who has spent most of his adult life living on “the continent,” as we Brits are fond of calling the non-British part of Europe, it might seem rather odd to be encouraging my fellow Brits to vote to leave the European Union.
Not so long ago — perhaps a decade or so — I believed that the interests of Britain would be best served if the country was a full-fledged member not only of the EU but of the euro zone. I was wrong, but it was a different time and I was a different, more innocent me.
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As a Europhile British ex-pat who has spent most of his adult life living on “the continent,” as we Brits are fond of calling the non-British part of Europe, it might seem rather odd to be encouraging my fellow Brits to vote to leave the European Union.
Not so long ago — perhaps a decade or so — I believed that the interests of Britain would be best served if the country was a full-fledged member not only of the EU but of the euro zone. I was wrong, but it was a different time and I was a different, more innocent me.
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by Jeff Nielson, Bullion Bulls:
Canada recently had an election. A new government was swept into power.
However the inhabitants of this victim-population are to be forgiven if
they haven’t noticed any difference.
Meet the New Boss, same as the Old Boss.
Pete Townsend’s haunting words are ringing loudly in Canada today, as they do across most of the Corrupt West. Canada’s new Prime Minister, Liberal Party leader Justin Trudeau was elected on the basis of a single campaign plank: “helping Ordinary Canadians.”
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Canada recently had an election. A new government was swept into power.
However the inhabitants of this victim-population are to be forgiven if
they haven’t noticed any difference.Meet the New Boss, same as the Old Boss.
Pete Townsend’s haunting words are ringing loudly in Canada today, as they do across most of the Corrupt West. Canada’s new Prime Minister, Liberal Party leader Justin Trudeau was elected on the basis of a single campaign plank: “helping Ordinary Canadians.”
Read More
by Ethan A. Huff, Natural News:
Wars and rumors of wars have prompted the federal occupying powers of
the United States of America to begin doing what these rapacious
entities have repeatedly commanded everyday citizens not to do:
they’re now stockpiling food, medicine and other emergency supplies in
one massive, nuclear anticipatory horde to maintain continuity in the
event of a nuclear holocaust.
A recent announcement from the Department of Health and Human Services (HHS), the agency responsible for groping and molesting you and your grandmother as you travel through U.S. airports, says it needs to add four additional preparedness tools to the “Strategic National Stockpile,” each dealing with having to treat severe burns on human bodies in a post-nuclear disaster event.
Included among these four products is Silverlon, a silver-impregnated nylon bandage that will be used to treat first- and second-degree thermal burns. The other three products will be in the same vein, though apparently these are currently “being developed,” and clinical studies are underway to gain their approval through the U.S. Food and Drug Administration (FDA).
Read More
Wars and rumors of wars have prompted the federal occupying powers of
the United States of America to begin doing what these rapacious
entities have repeatedly commanded everyday citizens not to do:
they’re now stockpiling food, medicine and other emergency supplies in
one massive, nuclear anticipatory horde to maintain continuity in the
event of a nuclear holocaust.A recent announcement from the Department of Health and Human Services (HHS), the agency responsible for groping and molesting you and your grandmother as you travel through U.S. airports, says it needs to add four additional preparedness tools to the “Strategic National Stockpile,” each dealing with having to treat severe burns on human bodies in a post-nuclear disaster event.
Included among these four products is Silverlon, a silver-impregnated nylon bandage that will be used to treat first- and second-degree thermal burns. The other three products will be in the same vein, though apparently these are currently “being developed,” and clinical studies are underway to gain their approval through the U.S. Food and Drug Administration (FDA).
Read More
from X22Report:
by Kurt Nimmo, Infowars:
Congress is poised to force Facebook and other social media networks to
inform on users they believe might be engaged in “online terrorist
activity.”
Congress is poised to force Facebook and other social media networks to
inform on users they believe might be engaged in “online terrorist
activity.”
Last week Dianne Feinstein, the vice chairman of the
Senate Intelligence Committee along with the committee’s chairman
Richard Burr, introduced the “Requiring Reporting of Online Terrorist Activity Act”.
The proposed law is modeled after an existing law requiring companies to report child pornography.
The bill’s language is wide ranging. It requires social
media companies to report “terrorist activities and the unlawful
distribution of information relating to explosives” and it will be used
for vaguely stated “other purposes.”
Read More
from Liberty Blitzkrieg:
Although
everyone watching has been convinced that Europe’s disastrous economy
and related debt crisis would be the spark to unravel the European Union
project, it appears history has its own plans.
While EU technocrats have demonstrated an uncanny ability to scheme, threaten, kick the can and lie their way around the debt crisis, the migrant crisis will prove to be a much graver threat to the project. Strikingly, all it took was a few weeks of unrelenting migrants crossing into EU borders to put an end what is essentially the only achievement of the European Union — the Schengen system of borderless travel.
Without that, what is the EU really? A collection of nation-states forced by bureaucrats to pretend they are part of an artificial fantasy superstate called Europe? An amalgamation of debt serfs and technocratic overlords? See what I’m getting at?
Read More
Although
everyone watching has been convinced that Europe’s disastrous economy
and related debt crisis would be the spark to unravel the European Union
project, it appears history has its own plans.While EU technocrats have demonstrated an uncanny ability to scheme, threaten, kick the can and lie their way around the debt crisis, the migrant crisis will prove to be a much graver threat to the project. Strikingly, all it took was a few weeks of unrelenting migrants crossing into EU borders to put an end what is essentially the only achievement of the European Union — the Schengen system of borderless travel.
Without that, what is the EU really? A collection of nation-states forced by bureaucrats to pretend they are part of an artificial fantasy superstate called Europe? An amalgamation of debt serfs and technocratic overlords? See what I’m getting at?
Read More
from Off Grid Survival:
While millions upon millions of Americans are throwing their money away on a bunch of useless garbage, smart preppers are using the season to become better prepared. For those looking to build their emergency stockpiles, this is one of the best times of the year to get started.
Most grocery stores are offering deep discounts on certain types of food this time of year; fortunately for preppers, many of these items store very well for long periods of time, making this the perfect opportunity to grow your emergency stockpiles.
Read More
While millions upon millions of Americans are throwing their money away on a bunch of useless garbage, smart preppers are using the season to become better prepared. For those looking to build their emergency stockpiles, this is one of the best times of the year to get started.
Most grocery stores are offering deep discounts on certain types of food this time of year; fortunately for preppers, many of these items store very well for long periods of time, making this the perfect opportunity to grow your emergency stockpiles.
Read More
Which Corporations Own The White House
Submitted by Tyler Durden on 12/15/2015 - 21:20 The president and his top advisers have kept an open door for CEOs of Fortune 100 companies, keeping almost 1,000 appointments with them, a Reuters review of White House records shows. Of the hundreds of appointments listed, Obama himself was present at about half. As the corrupting hand of government intervention spreads, so CEOs and the White House have become allies in advocating for immigration reform, the Trans-Pacific Partnership trade deal and reauthorization for the Export-Import Bank. So who really owns The White House?
Obama's Vendetta With Gun Makers Gets Personal: Smith & Wesson Shares Plunge After Call For SEC Investigation
Submitted by Tyler Durden on 12/15/2015 - 20:02 As it turns out, Obama is not a fan of efficient market irony and instead of letting the chips on gun control fall where they may especially if it means record stock prices for the shareholders of SWHC and RGR, the president has decided to take his vendetta with US gun makers to the next level and as the NYT reported overnight, "the New York City public advocate on Monday asked federal regulators to investigate whether the gun manufacturer Smith & Wesson had made adequate disclosures in its financial statements."
Majority Of Millennials Have Under $1,000 In Savings
Submitted by Tyler Durden on 12/15/2015 - 19:30 Millennials are projected to number 75.3 million for 2015, surpassing a projected 74.9 million for Baby Boomers for the first time. However, much like the Boomers, it appears savings habits of Millennials remains poor, as results of our survey found that over 50% of Millennials have less than $1,000 in savings... but then again why save when the government will take care of you, right?
The Billionaire's Pick: How Marco Rubio Became The Preferred Puppet Of GOP Oligarchs
Submitted by Tyler Durden on 12/15/2015 - 19:00 As concerning and hateful as so much of Trump’s commentary is, we can at least be sure he speaks from his own twisted mind. This is precisely why he appeals to so many people in this day and age of completely captured politicians. People like the fact that every word out of his mouth hasn’t been carefully placed there by some billionaire patron. On the exact opposite end of that spectrum we find Marco Rubio. A man so incapable of free-thought, he becomes the ideal target for billionaires looking to craft the perfect puppet. Forget Jeb Bush, Marco Rubio is now the establishment GOP’s pick, and they will do everything in their power to get him the nomination.A Pessimists' Guide To 2016: When Everything That Can Go Wrong, Does Go Wrong
Submitted by Tyler Durden on 12/15/2015 - 18:30
ReadyNutrition Guys and Gals, we just finished a series on how to escape from Bill Ayers’ Summer Reeducation Camp (or Gulag 17, depending on the situation). Now we will cover one of the most important elements of all: How to stay out of the “Happy” Camp. Best thing of all: do not go in. Easier said than done, however, there are some things you can do beforehand that will increase your chances of staying out of the Gulag.
These things are not complicated, however, they will require both willpower and action. They will not be things that happen on their own. In order to stay out of a camp, you must do something very important:
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