Albert Edwards Finally Blows Up: "I'm Not Really Sure How Much More Of This I Can Take"

Submitted by Tyler Durden on 04/22/2016 - 10:47
"I'm not really sure how much more of this I can take. So here we are 5, 6 or is it now 7 years into this economic recovery and it still remains pathetically weak. And so it should in the wake of one of the biggest private sector credit bubbles in history. The de-leveraging hangover was always going to be massive and so it is. Quick-fix monetary QE nonsense has made virtually no difference to the economic recoveries other than to inflate asset prices, make the rich richer, inequality worse and make Joe and Joanna Sixpack want to scream in rage."

It's A "Full-Scale Cash Crisis" In Oil Schlumberger CEO Admits

Submitted by Tyler Durden on 04/22/2016 - 11:00 "The decline in global activity and the rate of activity disruption reached unprecedented levels as the industry displayed clear signs of operating in a full-scale cash crisis. This environment is expected to continue deteriorating over the coming quarter given the magnitude and erratic nature of the disruptions in activity."

US Manufacturing Plunges To 7 Year Lows As PMI "Dashes Hope That Q1 Weakness Was Temporary"

Submitted by Tyler Durden on 04/22/2016 - 10:37 Following Japan's record low PMI, Europe's modest pick-up, and China's bounce, this week's Philly Fed crash was more indicative as US Manufacturing (flash) PMI printed 50.8 (from 51.5 in March and notably missing 52.0 expectations). This is the lowest print since September 2009 with New Orders sliding (weakest since Dec 2015), and Employment at its weakest since June 2013. As Markit notes, "US factories reported their worst month for just over six-and-a-half years in April, dashing hopes that first quarter weakness will prove temporary."

Obama Writes Op-Ed To "Blood Brother" Britain: Don't Leave EU (Or Else)

Submitted by Tyler Durden on 04/22/2016 - 06:20
You know the British establishment is in full panic mode when not only do they allow President Obama to visit the nation just a month after he threw Cameron "distracted by other things" and his European neighbors under the bus over the collapse of Libya, but, despite 100 members of Parliament signing a letter telling Obama "not to interfere" with Britain's domestic affairs, The Telegraph prints an Op-Ed in which the lame-duck president lords it over the British citizenry with a veiled threat that should they "his friends" leave Europe, the "special relationship" could be in jeopardy as "now is a time for friends and allies to stick together."

Stocks Shrug As USDJPY Soars Over 111 After BoJ Rumors

Submitted by Tyler Durden on 04/22/2016 - 09:02 Kuroda, we have a problem. Following rumors overnight, USDJPY is obedinetly being bid (Yen weaker), with its biggest day since January and pushing above 111 (highest in 3 weeks). Normally this would be all the US equity needed to spike ignorantly to new highs... but it's not...

The World's Greatest Monetary Charlatan Is Nearly Out Of Tricks

Submitted by Tyler Durden on 04/22/2016 - 08:53 The world’s greatest monetary charlatan is nearly out of tricks. Draghi pointedly backed off from helicopter money yesterday because the Germans have obviously drawn a line in the sand. And he can’t push NIRP much further without breaking what remains of Europe’s sclerotic socialist banking system. And if he tries even more negative carry money under TLTRO it will assuage the margin pressure on European banks but not make the eurozone’s debt besotted households and businesses a wit more credit-worthy or inclined to borrow. So this foolishly naïve believer in the elixir of debt is actually pushing on a credit string while inflating the mother of all bond bubbles. There is not a chance that the ECB can extract itself from this dangerous corner, nor continue down the current path much longer.

Greece Fails To Reach Deal With Lenders: Lagarde Flip-Flops, Sees "No Need For Greek Debt Haircut"

Submitted by Tyler Durden on 04/22/2016 - 08:27 Greece was supposed to finalize a deal today with its lenders whereby in exchange for an "agreement" to implement already agreed upon budget cuts it would receive more funds from the Troika. However, as Reuters reports, "there will be no deal between Greece and its lenders on Friday that would unlock loans and enable vital debt relief talks, despite some progress on the reforms Athens must implement in exchange, euro zone and IMF officials said on Friday."

"Enough With The Hillary Cult!"

Submitted by Tyler Durden on 04/22/2016 - 08:10 "As a lifelong Democrat who will be enthusiastically voting for Bernie Sanders in next week’s Pennsylvania primary, I have trouble understanding the fuzzy rosy filter through which Hillary fans see their champion. So much must be overlooked or discounted - from Hillary’s compulsive money-lust and her brazen indifference to normal rules to her conspiratorial use of shadowy surrogates and her sociopathic shape-shifting in policy positions for momentary expedience."

Massive Explosion At Chemical Plant Rocks China's Jiangsu Province

Submitted by Tyler Durden on 04/22/2016 - 07:54 Just hours after we reported that a "mysterious illness" resulting from inhalation of toxic chemical fumes was causing hundreds of school children to fall ill in China's Jiangsu Province, we're now learning that a massive chemical explosion and fire has taken place in the same province.

Caterpillar Falls After Sales Plunge 26%, Earnings Miss; Outlook Slashed

Submitted by Tyler Durden on 04/22/2016 - 07:48 We have seen recent increases in commodity prices, some signs of improvement in construction equipment in China and better order activity than we expected at bauma, the world's leading trade fair for many of the industries we serve.  While we are seeing a few positive signals, other parts of our business remain challenged.  As a result, we have lowered the midpoint of the outlook for 2016 sales and revenues about 2 percent.

Frontrunning: April 22

• BOJ Officials Are Said to Eye Possible Negative Rate on Loans (BBG)
• Daimler Probe Hits Industry Credibility After Mitsubishi Charge (BBG)
• VW hikes emissions provisions to 16-17 billion euros: source (Reuters)
• Valeant Finalizing Contract With Perrigo’s Joseph Papa as Next CEO (WSJ)
• U.S. split deepens over Putin's intentions in Syria civil war (Reuters)
• As Global Stocks Rally, China's Markets Send More Ominous Signal (BBG)

"It's Time To Be Patriotic" - Venezuela To Cut Off Electricity Four Hours A Day

Submitted by Tyler Durden on 04/22/2016 - 07:09 The complete train wreck that is Venezuela continues to find ways to one-up itself. Fresh off of the announcement that every Friday in the months of April and May would be designated as non-working holiday's in order to save electricity, the Socialist utopia is now simply cutting it off for four hours a day.

Kuroda To The Rescue: Stocks Rebound After Latest BOJ Rumor Sends Yen Plunging

Submitted by Tyler Durden on 04/22/2016 - 06:56 Just as US equity futures were about to roll over following some very substantial misses yesterday by the likes of Google, Microsoft, Starbucks and a plunge in Visa shares, overnight who came to the markets' rescue but the BOJ, when shortly after midnight Bloomberg reported that "according to people familiar with talks at the BOJ" which is the traditional keyword for a BOJ source testing out the market's reaction, Japan's central bank may "help" local banks to lend by offering a negative rate on some loans. This happens just months after the BOJ unleashed negative rates thereby "penalizing" banks who hold too much excess reserves. So just four months after the BOJ went nuclear on its own banks, now it has had a 180 degree change of heart.

Additional Evidence Of Mind-Boggling Fraud Emerges from The New York Primary

Submitted by Tyler Durden on 04/21/2016 - 23:40 Two things were obvious going into the New York primary: 1) Hillary Clinton would win. 2) There would be an enormous amount of voter suppression and fraud. Well the results are in, and the state of the state in New York is very, very bad.

Is Hillary Clinton The Democrats' Richard Nixon?

Submitted by Tyler Durden on 04/21/2016 - 22:50










Police State U.S.A.

Denver Schools To Arm Guards With Military-Style Rifles

Submitted by Tyler Durden on 04/21/2016 - 22:40 Are children safe in public schools? If the answer seems pretty obvious, it is confirmation that society has definitely gone to extremes that would not have been recognizable in past decades of American history. Now Denver-area schools are becoming the first to guard their student populations with military-style semiautomatic rifles, and things certainly appear to be escalating. But are they being protected from potential violence, or indoctrinated in a police state society where even children are under sharp suspicion, and misbehavior is criminalized? Can we see down the road as to whether this is likely to tend towards more freedom, or less? More armed citizens is positive, but more guns only in the hands of police - private and public, may prove not be.

Hundreds Of Chinese Children Mysteriously Fall Ill Suffering From Nose Bleeds, Rashes, Coughing

Submitted by Tyler Durden on 04/21/2016 - 22:13 Hundreds of school children in East China's Jiangsu Province have fallen mysteriously ill, suffering from nose bleeds, itching, rashes, coughing, and other complicated symptoms, whose cause has not been determined. CRI reports that some of the parents alleged that they noticed irritant smells at the school. They suspect that the smell comes from chemical factories near the school.

Commodity Trader: "What Is Happening Has Absolutely No "Reasonable" Explanation"

Submitted by Tyler Durden on 04/21/2016 - 22:02 Call me crazy, and I am not a “conspiracy theorist” – but what is happening has absolutely no “reasonable” explanation. So I have to think outside the box...

Homeopathy officially recognized by Swiss government as legitimate medicine to coexist with conventional medicine

by J. D. Heyes, Natural News:
Broadening their definition of medicine, the Swiss government is announcing a positive shift toward alternative healing and complementary therapies. For far too long, health insurance has guaranteed a monopoly for a system dominated by synthetic drugs. The Swiss government is breaking out of that confining mold and allowing patients’ health insurance plans to cover five new complementary therapies.
In May 2017, health insurance plans in Switzerland will be covering a variety of healing modalities, including homeopathy, acupuncture, traditional Chinese medicine, herbal medicine and holistic medicine. In this way, Switzerland will be bringing back the many healing arts that were used successfully in the past.
Read More

Bankers orchestrate another raid

by Harvey Organ, HarveyOrganblog:
Good evening Ladies and Gentlemen:
Gold: $1,249.00 down $4.20 (comex closing time)
Silver 17.09 down 4 cents
In the access market 5:15 pm
Gold $1248.80
silver: 17.02
I WROTE THE FOLLOWING YESTERDAY:
“Today(Tuesday) the boys disappointed me. Not for the lack of trying as they tried whacking gold/silver in normal trading hours but to no avail. However in the access market THIS (Tuesday) AFTERNOON they raided knocking gold down to $1243 and silver 16.94. It will be a slug fest tomorrow”
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Toxic Mix Eats into Hedge Funds

from Wolf Street:

The wrath of investors: worst capital outflows since 2009.
Big public pension funds are slow-moving apparatuses. So dramatic shifts in investment decisions take a long time to be discussed and decided, and even longer before they’re felt by the investment community. But now they’re being felt – painfully.
In September 2014, the $300-billion California Public Employees’ Retirement System, the nation’s largest pension fund, announced that it would liquidate over the following year its investments totaling $4 billion in 24 hedge funds and six funds-of-funds; they were too complicated and too expensive.
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Candidates confirm: No crash this year

by Clif Droke, GoldSeek:

A CNN Money article this weekend provided contrarian investors with a moment of clarity. “Trump and Cruz predict stock market ‘crash’” the headline proclaimed. Contrarians couldn’t find a more emphatic statement of mainstream bearish capitulation than that.
The market opinions of high-profile public figures are always as fascinating as they are instructive. Most public figures have only an elementary grasp on the financial markets; this is doubly true for politicians and political candidates. In instances when these figures make public predictions about the market it’s almost a guaranteed contrarian bet that they’ll be wrong.
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THE SMOKING GUN: “DOCUMENT 17” LINKS SAUDI EMBASSY IN WASHINGTON TO SEPT 11

from Zerohedge via The Daily Sheeple:
With the topic of Saudi Arabia’s involvement in the Sept 11 attack on everyone’s lips, if certainly not those of president Obama who is currently in Riyadh where he is meeting with members of Saudi royalty in what may be his last trip to the Saudi nation as US president, many have been clamoring for the information in the suddenly notorious “28-pages” (following the recent 60 Minutes episode) to be released to the public so the US population can finally relegate all those “conspiracy theories” surrounding the real perpetrator behind the Sept 11 terrorist attack to the “conspiracy fact” pile.
It won’t have to wait that long.
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U.S. Government Is Now a Major Counterparty to Wall Street Derivatives

by Pam Martens and Russ Martens, Wall St On Parade:
According to a study released by the Federal Reserve Bank of New York in March of last year, U.S. taxpayers have already injected $187.5 billion into Fannie Mae and Freddie Mac, two companies that prior to the 2008 financial crash traded on the New York Stock Exchange, had shareholders and their own Board of Directors while also receiving an implicit taxpayer guarantee on their debt. The U.S. government put the pair into conservatorship on September 6, 2008. The public has been led to believe that the $187.5 billion bailout of the pair was the full extent of the taxpayers’ tab. But in an astonishing acknowledgement on February 25 of this year, the Government Accountability Office, the nonpartisan investigative arm of Congress, issued an audit report of the U.S. government’s finances, revealing that the government’s “remaining contractual commitment to the GSEs, if needed, is $258.1 billion.”
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Meet the Selfish Tycoon Who Dodged Billions in Taxes

by Simon Black, Sovereign Man:
Chances are you’ve never heard of Chuck Feeney. And he’s worked very hard to keep it that way.
Feeney, who will turn 85 on Saturday, had an incredibly successful business career, amassing a multibillion dollar empire based primarily on duty-free retail shopping.
I know what you’re thinking: he already sounds like a bad person… earning a vast fortune by enabling shoppers around the world to avoid paying sales tax and VAT.
This alone constitutes an almost incalculable loss of government tax revenue that could have clearly been much better allocated to more wars and bombs!
But it gets worse: Feeney himself became the poster child of offshore tax avoidance.
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The President, the Court and Immigration

by Andrew P. Napolitano, Lew Rockwell:
In 2014, President Barack Obama signed 12 executive orders directing various agencies in the departments of State, Justice and Homeland Security to refrain from deporting some 4 million adult immigrants illegally present in the United States if they are the parents of children born here or legally present here and if they hold a job, obtain a high-school diploma or its equivalent, pay taxes and stay out of prison.
Unfortunately for the president, the conditions he established for avoiding deportation had been rejected by Congress.
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A Great Awakening – Public Support for Fake “Free Trade” Deals Plunges in the U.S. and Europe

from Liberty Blitzkrieg:
Public opposition to the sovereignty killing corporate giveaway marketed as a free trade deal known as the Trans Pacific Partnership (TPP) has become so widespread that all the leading candidates for the U.S. Presidency are publicly against it. Specifically, Donald Trump and Bernie Sanders are virulently opposed, while Hillary Clinton is pretending to be against it in order to harvest votes.
Essentially, the more time the American public has to learn about this scam, the more they are against it. Which is precisely why the Obama administration wants to push it through as quickly as possible.
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