Submitted by Tyler Durden on 04/12/2016 - 22:45
Joining the ranks of "broke lawyers" who can cancel their student debt, "Americans with disabilities have a right to student loan relief,” now according to Ted Mitchell, the undersecretary of education, said in a statement. Almost 400,000 student loan borrowers will now have an easier path to a debt bailout as Obama primes the populist voting pump just in time for the elections.
Rich Flee "Crime Infested Hell Hole" Chicago Amid Racial Strife, Civil Unrest
Submitted by Tyler Durden on 04/12/2016 - 23:00 As time goes on the city of Chicago is rapidly turning into a crime infested hell hole, rife with poverty, debt, and racial tension. The city is well on its way to joining the likes of Detroit, and there may be no escaping that eventuality. That’s why many of the city’s wealthy elites are getting the hell out of there. The Chicago Tribune reports that roughly 3,000 millionaires have left the city over the past year alone, which amounts to about 2 percent of their wealthy population. This is the largest exodus of wealthy people in the United States, and one of the largest in the world.SocGen: "Now We Know Why The Fed Desperately Wants To Avoid A Drop In Equity Markets"
Submitted by Tyler Durden on 04/12/2016 - 20:45
"The catalyst for a balance sheet crisis is rarely the affordability of interest rates, so a 25bp rise in Fed rates is neither here nor there. Credit market risk is about assessing the likelihood of getting your money back. As such asset prices (i.e. equity markets) and asset price risk (i.e. equity volatility) are far bigger concerns. So all you need for a balance sheet crisis is declining equity markets, a phenomenon the Fed appears desperate to avoid. Now we know why."
2012 Redux - They Really Don't Know What They Are Doing
Submitted by Tyler Durden on 04/12/2016 - 22:30 The insolvent remain insolvent, the money still not money, and the recovery something else entirely. Central banks possess no recovery magic; they can’t even deliver their own version of one.
"My Daddy’s Rich And My Lamborghini’s Good-Looking": Meet The Rich Chinese Kids Of Vancouver
Submitted by Tyler Durden on 04/12/2016 - 19:33 Meet Andy Guo, an 18-year-old Chinese immigrant, who loves driving his red Lamborghini Huracán. He does not love having to share the car with his twin brother, Anky. "There’s a lot of conflict," Mr. Guo said, as a crowd of admirers gazed at the vehicle and its vanity license plate, “CTGRY 5,” short for the most catastrophic type of hurricane. Or Diana Wang, 23, who thinks a supercar is a poor investment, because its value decreases over time. "Better to spend half a million dollars on two expensive watches or some diamonds."
Bill Gross Unleashes Tweetstorm On Five "Investor Delusions" Soon To Be Exposed
Submitted by Tyler Durden on 04/12/2016 - 19:01 In what has so far been a strange day, in which one headline by an "anonymous diplomatic source" and unconfirmed by the Russian energy ministry has pushed stocks from red on the day back to highs for the year, the latest surprise came from Bill Gross who moments ago broke into a "tweetstorm" to lay out what he see as the latest set of investor delusions.
Chinese Stocks, Yuan Rally After Exports Rebound From February Bloodbath, Imports Fall For 17th Month In A Row
Submitted by Tyler Durden on 04/12/2016 - 22:13 After February's bloodbath in Chinese trade data, expectations were for a scorching hot rebound in March. With PBOC's Yuan 'basket' devaluation accelerating throughout this period it should not be surprising that Yuan-based China exports soared and imports beat expectations (but fell 1.7% - extending the losing streak to 17 months in a row). For now, oil and stock (US and China) prices are rising in reaction to this "good" news. Offshore Yuan is drifting stronger against the dollar.
Used-Car Inventories Surge To Record Highs As Goldman Fears "Spillovers From Demand Plateau"
Submitted by Tyler Durden on 04/12/2016 - 21:35 Just 24 hours ago we explained the beginning of the end of the US automaker "house of cards," detailing how the tumble in used-car-prices sets up a vicious circle as Goldman warns "demand has plateaued." This is most evident in the surge in pre-owned vehicle inventories to record highs, forcing, as WSJ reports, dealers to lower prices, further denting new-car pricing. The effect of any sales slowdown, as Goldman ominously concludes, is considerable as spillovers from auto manufacturing can be significant given its highest "multiplier" of any sector in the economy.
Visualizing The Energy & Mineral Riches Of The Arctic
Submitted by Tyler Durden on 04/12/2016 - 21:10 In terms of oil, it’s estimated that the Arctic has 90 billion barrels of oil that is yet to be discovered. That’s equal to 5.9% of the world’s known oil reserves – about 110% of Russia’s current oil reserves, or 339% of U.S. reserves.
Dear Dallas Fed, Any Comment?
Submitted by Tyler Durden on 04/12/2016 - 20:48 "In September, regulators from the OCC, the Federal Reserve and the Federal Deposit Insurance Corp. met with dozens of energy bankers at Wells Fargo’s office in Houston... Regulators pushed lenders to focus instead on a borrower’s ability to make enough money to repay the loan, according to the person familiar with the discussions."
Fed vs. Fed: New York Fed To Issue Its Own GDP Nowcast; Atlanta Fed Too Pessimistic?
Submitted by Tyler Durden on 04/12/2016 - 20:42 It’s Fed vs. Fed in the Nowcasting business. The New York Fed has decided to issue a FRBNY Nowcast, clearly in competition with the Atlanta Fed GDPNow forecast. The Atlanta Fed has the name GDPNow trademarked. The Atlanta Fed provides its updates following major economic reports. In contrast, the New York Fed will deliver its version every Friday starting April 15.
Gold Options Traders Extend Longest Bullish Streak Since 2009
Submitted by Tyler Durden on 04/12/2016 - 20:20 Amid gold's best start to a year since 1974, options traders continue to bet on more gains. Despite the near 17% gains in 2016, put options (bearish bets)have been cheaper than bullish bets (calls) since January 14th. As Bloomberg notes this is the longest streak of bullish "skew" since June 2009, after which gold took off from $900 to $1900.
The New Middle Kingdom Of Concrete And The Red Depression Ahead
Submitted by Tyler Durden on 04/12/2016 - 19:55 Massive borrowing to pay the interest is everywhere and always a sign that the the end is near. The crack-up phase of China’s insane borrowing and building boom is surely at hand.
Swiss Bank Whistleblower Claims Panama Papers Was A CIA Operation
Submitted by Tyler Durden on 04/12/2016 - 19:20 This just further confirms my belief that this whole “leak” isn’t what we are being told. This is the work of an intelligence agency working on behalf of a particular government, not on behalf of the public. Don’t be duped.
Hate Taxes? You Certainly Are Not Alone...
Submitted by Tyler Durden on 04/12/2016 - 18:59 Our system was never intended to be like this. Our founders hated taxes, and they fought a very bitter war to escape the yoke of oppressive taxation. During his very first inaugural address, Thomas Jefferson clearly expressed what he thought about taxes... “A wise and frugal government... shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government.” Why couldn’t we have listened to him?
Bernanke's Former Advisor: "People Would Be Stunned To Know The Extent To Which The Fed Is Privately Owned"
Submitted by Tyler Durden on 04/12/2016 - 18:23 Earlier today, former central bank staffer and Dartmouth College economics professor Andrew Levin, special adviser to then Fed Chairman Ben Bernanke between 2010 to 2012, said something shocking. "A lot of people would be stunned to know” the extent to which the Federal Reserve is privately owned." Is the truth finally starting to come out?
Chart Of The Day - Wall Street Vs. Main Street
Submitted by Tyler Durden on 04/12/2016 - 17:59 For those of us who recall how the mainstream media, compromised pundits and Wall Street welfare babies “sold” us on the unconscionable banker bailouts, we vividly remember a constant repetition of the invented and preposterous mantra that “helping Wall Street in turn helps Main Street.” This fantastical idea that the fortunes of Wall Street and Main Street are inextricably linked is, of course, total garbage and always has been.
Finance Professor Invests In Jim Cramer's "Buy Right Now" Portfolio, Loses Money On 67% Of Stock Picks
Submitted by Tyler Durden on 04/12/2016 - 17:54 In case you've ever wondered what happens one year later after following Cramer's stock-picking advice, here is the answer.
by David Gutierrez, Natural News:
During
the rise of Nazi Germany, The Associated Press (AP) willingly
cooperated with Adolf Hitler’s Third Reich, submitting to dramatic
restrictions on freedom of the press and
providing the regime with images from the news service’s photo archives
so they could be used in anti-Semitic and anti-Western propaganda,
according to a new report.
As noted by the Times of Israel, when Hitler’s National Socialists rose to power in 1933, every international news agency save the U.S.-based AP, which was founded in 1846, was ordered to leave Germany; the AP continued to operate in Nazi Germany until 1941, when America declared war on the Axis following Japan’s “surprise attack” on Pearl Harbor.
Read More
During
the rise of Nazi Germany, The Associated Press (AP) willingly
cooperated with Adolf Hitler’s Third Reich, submitting to dramatic
restrictions on freedom of the press and
providing the regime with images from the news service’s photo archives
so they could be used in anti-Semitic and anti-Western propaganda,
according to a new report.As noted by the Times of Israel, when Hitler’s National Socialists rose to power in 1933, every international news agency save the U.S.-based AP, which was founded in 1846, was ordered to leave Germany; the AP continued to operate in Nazi Germany until 1941, when America declared war on the Axis following Japan’s “surprise attack” on Pearl Harbor.
Read More
from Survival Blog:
Plato purportedly said, “Only the dead have seen the end of war,” and in many ways he was correct. Violence has been a constant throughout recorded history, and it continues to plague humanity. In fact, perhaps the only significant change is our growing expertise and efficiency. The invention of the firearm in 13th century China marked a turning point in state-sponsored warfare and interpersonal violence. Black powder in conjunction with a simple machine and projectile enabled the relatively unskilled and weaker combatant to create parity with a group who possessed superior strength. For better or worse, politics had irrevocably changed. As a direct result, the following questions immediately emerged: Who should possess these weapons? Should they be exclusive to state actors? Should they be available to the general public? As emotionally charged as these questions have become, and as much as we want there to be simple solution to violence, gun control is politically dangerous, it does not directly prevent violence, and history has shown it to be a dangerous tool in the oppression of minority ethnic, religious, and political groups.
Read More
Plato purportedly said, “Only the dead have seen the end of war,” and in many ways he was correct. Violence has been a constant throughout recorded history, and it continues to plague humanity. In fact, perhaps the only significant change is our growing expertise and efficiency. The invention of the firearm in 13th century China marked a turning point in state-sponsored warfare and interpersonal violence. Black powder in conjunction with a simple machine and projectile enabled the relatively unskilled and weaker combatant to create parity with a group who possessed superior strength. For better or worse, politics had irrevocably changed. As a direct result, the following questions immediately emerged: Who should possess these weapons? Should they be exclusive to state actors? Should they be available to the general public? As emotionally charged as these questions have become, and as much as we want there to be simple solution to violence, gun control is politically dangerous, it does not directly prevent violence, and history has shown it to be a dangerous tool in the oppression of minority ethnic, religious, and political groups.
Read More
by Joshua Krause, The Daily Sheeple:
Christians have never had an easy time living under Communist China. Beijing fears that Christianity will bring Western influence to their country, so they relentlessly persecute these people in any way they can. Most of them are forced to worship out of sight in informal prayer groups, unless they choose to stay within the confines of a handful of state sanctioned churches. However even these places of worship are reviled by the government.
According to the charity known as China Aid, the government forcibly removed over 2000 crosses from churches all over the coastal province of Zhejiang.
Read More
Christians have never had an easy time living under Communist China. Beijing fears that Christianity will bring Western influence to their country, so they relentlessly persecute these people in any way they can. Most of them are forced to worship out of sight in informal prayer groups, unless they choose to stay within the confines of a handful of state sanctioned churches. However even these places of worship are reviled by the government.
According to the charity known as China Aid, the government forcibly removed over 2000 crosses from churches all over the coastal province of Zhejiang.
Read More
from ENE News:
Russell Hopcroft, Univ. of Alaska Fairbanks: “We’ve had a number of unusual mortality events in the system where some of the great whales are actually washing up or floating around dead and this is a huge signal we’re talking dozens of whales and this is very atypicalfor the region.”
Julie Keister, Univ. of Washington: [Slide: ‘Unprecedented Mass Mortality Event’ ~100,000 dead Cassin’s Auklets] — “Some seabird data… for Cassin’s Auklets… they eat mainly krill… what you’re seeing is a time series September through March with massive die offs over the winter compared to normal, so really big ecosystem effects.” Read More
Russell Hopcroft, Univ. of Alaska Fairbanks: “We’ve had a number of unusual mortality events in the system where some of the great whales are actually washing up or floating around dead and this is a huge signal we’re talking dozens of whales and this is very atypicalfor the region.”
Julie Keister, Univ. of Washington: [Slide: ‘Unprecedented Mass Mortality Event’ ~100,000 dead Cassin’s Auklets] — “Some seabird data… for Cassin’s Auklets… they eat mainly krill… what you’re seeing is a time series September through March with massive die offs over the winter compared to normal, so really big ecosystem effects.” Read More
from Financial Survival Network:
Doug Casey is bullish on the resource sector. He believes that it has hit bottom and will be going up from here. On the government and human front he’s not so optimistic. The sociopaths who run things are more concerned about the well-being of government rather than the people. For this reason it grows like a cancer and eventually consumes all in its path. But Doug believes that as long as WWIII doesn’t take place, humanity will ultimately find its way and move forward. However, there will be much suffering and unpleasantness as the Greater Depression rears its ugly head once again.
Click HERE To Listen
Doug Casey is bullish on the resource sector. He believes that it has hit bottom and will be going up from here. On the government and human front he’s not so optimistic. The sociopaths who run things are more concerned about the well-being of government rather than the people. For this reason it grows like a cancer and eventually consumes all in its path. But Doug believes that as long as WWIII doesn’t take place, humanity will ultimately find its way and move forward. However, there will be much suffering and unpleasantness as the Greater Depression rears its ugly head once again.
Click HERE To Listen
from Paul Craig Roberts:
Currently, Washington is conducting operations against Latin American presidents who tried to represent their own peoples instead of American business interests and Washington’s foreign policy. Washington is trying to unseat and indict President Nicolas Maduro in Venezuela, President Evo Morales in Bolivia, President Rafael Correa in Ecuador, and President Dilma Rousseff in Brazil. Washington has succeeded in getting the president of Argentina, Chistina Kirchner, out of office, and is now seeking to have her indicted. To round off its attack on Brazil’s reformist political party, Washington is orchestrating crimes with which to tar and indict Rousseff’s predecesor, Lula da Silva.
Everyone on Washington’s Latin American list of people to be destroyed is a far better person than anyone in Washington. Washington’s Latin American targets have far more integrity, are tainted with far less corruption, and are far more committed to those who voted for them than anyone in Washington.
Read More
Currently, Washington is conducting operations against Latin American presidents who tried to represent their own peoples instead of American business interests and Washington’s foreign policy. Washington is trying to unseat and indict President Nicolas Maduro in Venezuela, President Evo Morales in Bolivia, President Rafael Correa in Ecuador, and President Dilma Rousseff in Brazil. Washington has succeeded in getting the president of Argentina, Chistina Kirchner, out of office, and is now seeking to have her indicted. To round off its attack on Brazil’s reformist political party, Washington is orchestrating crimes with which to tar and indict Rousseff’s predecesor, Lula da Silva.
Everyone on Washington’s Latin American list of people to be destroyed is a far better person than anyone in Washington. Washington’s Latin American targets have far more integrity, are tainted with far less corruption, and are far more committed to those who voted for them than anyone in Washington.
Read More
by Mac Slavo, SHTFPlan:
Yet another reason why taxes are going up, cities and states are going broke, and the world is approaching financial implosion…
As if the world needed another dangerous and volatile factor in the mix of looming economic downturn.
Unfunded liabilities for pensions have been a problem for a while now, but as investors continue to face fleeting returns, many states and cities are facing the music… and when it stops, there won’t be enough money to go around.
Read More
Yet another reason why taxes are going up, cities and states are going broke, and the world is approaching financial implosion…
As if the world needed another dangerous and volatile factor in the mix of looming economic downturn.
Unfunded liabilities for pensions have been a problem for a while now, but as investors continue to face fleeting returns, many states and cities are facing the music… and when it stops, there won’t be enough money to go around.
Read More
from Wolf Street:
Leaving ugly skid marks on the economy, banks, and investors.
The “end of the credit cycle” is a harmless-sounding moniker for an era when defaults and bankruptcies suddenly re-materialize, as if out of nowhere, and when investors get to eat big losses in what they thought were conservative investments.
It’s when new money for Corporate America gets a little more skittish, and credit just a little tighter – not all at once, but over time. And for over-indebted junk-rated companies, that slight tightening and the accompanying rise in rates at the top triggers liquidity crises, defaults, and bankruptcies at the bottom.
Read More
Leaving ugly skid marks on the economy, banks, and investors.
The “end of the credit cycle” is a harmless-sounding moniker for an era when defaults and bankruptcies suddenly re-materialize, as if out of nowhere, and when investors get to eat big losses in what they thought were conservative investments.
It’s when new money for Corporate America gets a little more skittish, and credit just a little tighter – not all at once, but over time. And for over-indebted junk-rated companies, that slight tightening and the accompanying rise in rates at the top triggers liquidity crises, defaults, and bankruptcies at the bottom.
Read More
by Jeff Thomas, International Man:
Recently, David Cameron presented to the British public his White Paper on whether the UK should remain in the EU, in preparation for the June referendum. For those who are unfamiliar with the referendum, it’s intended to resolve the degree to which the UK caves to an unelected uber-government in Brussels in trade for purported benefits of an all-Europe trade partnership, or whether it chooses independence—going through the hard work of creating individual agreements with EU countries, but gaining the ability to unilaterally make its own decisions regarding such weighty issues as migration, borderlessness, human rights, etc.
The migration issue is a major one. After much hand-wringing between the UK Government and the EU, a settlement has been arrived at that Brussels says it won’t budge on.
Read More…
Recently, David Cameron presented to the British public his White Paper on whether the UK should remain in the EU, in preparation for the June referendum. For those who are unfamiliar with the referendum, it’s intended to resolve the degree to which the UK caves to an unelected uber-government in Brussels in trade for purported benefits of an all-Europe trade partnership, or whether it chooses independence—going through the hard work of creating individual agreements with EU countries, but gaining the ability to unilaterally make its own decisions regarding such weighty issues as migration, borderlessness, human rights, etc.
The migration issue is a major one. After much hand-wringing between the UK Government and the EU, a settlement has been arrived at that Brussels says it won’t budge on.
Read More…
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