Submitted by Tyler Durden on 05/18/2016 - 11:49
With Donald Trump's tax return dominating this part of the republican presidential candidate's news cycle, in an attempt to deflect attention from his IRS filing which Turmp has said he won't disclose, last night Trump filed a personal financial statement with the FE, according to which Trump made over $557 million in income in 2015 and which is said to corroborate Trump's claim that he is worth over $10 billion. The full report is inside.
Bill And Hillary Clinton Earned $6.7 Million From Speeches In 2015; $55 Million Since 2013
Submitted by Tyler Durden on 05/18/2016 - 12:27 While the US obssesses over the taxable Adjusted Gross Income of real-estate billionaire Donald Trump (and has to be content with his just released 104 personal financial statement posted here), another just as (if not more) important number was revealed in a financial disclosure form filed on Tuesday night by Hillary Clinton’s campaign. Accordingly, Bill and Hillary Clinton have earned $6.7 million from paid speeches since the beginning of 2015, including $2.7 million from speeches the former president gave after his wife officially kicked off her White House bid last April.
Why One Trader Sees The S&P Plunging 500 Points
Submitted by Tyler Durden on 05/18/2016 - 12:49 A "technical red flag" looms according to Sven Henrich - better known to Zero Hedge readers as Northman Trader. "The technical target that I see would be 1,573 on the S&P," Henrich warns an anxious CNBC anchorette, adding that the S&P 500 must stay above the 2,025 to 2,030 range in order to keep the index from falling by nearly 500 points from current levels. "If we break below this level by the end of May, then stocks may actually indeed retest lows or break lower.."
US Senate Passes Legislation Allowing 9/11 Victims To Sue Saudi Arabia As '28-Pages' Leaks Appear
Submitted by Tyler Durden on 05/18/2016 - 12:09 On Tuesday, the US Senate passed the Justice Against Sponsors of Terrorism Act. 'Coincidentally', on the same day, the New York Times revealed a document published by the National Archives that appears to offer a glimpse into potentially damning information contained in the so-called ‘missing’ 28 pages concerning the attacks on September 11, 2001. Pushing back on the criticisms that the bill was only passed to specifically target Saudi Arabia (which it was of course), Schumer stated "Look, if the Saudis did not participate in this terrorism, they have nothing to fear about going to court."
Saudi Arabia Admits To A Full-Blown Liquidity Crisis: Will Pay Government Contractors With IOUs, Debt
Submitted by Tyler Durden on 05/18/2016 - 11:04 Now, Saudi economic (and liquidity) problems just spilled out into the open, because Bloomberg reported moments ago, Saudi Arabia has told banks it is considering paying some outstanding bills to contractors with government-issued bonds, citing people with knowledge of matter say. Contractors would be able to hold bond-like instruments until maturity. Bloomberg adds that issuing bonds is one of several options being considered.
WTF Chart Of The Day: 'Broken Markets' Edition
Submitted by Tyler Durden on 05/18/2016 - 11:57 Presented with no comment... ok one word - "seriously!"
Are Property Taxes A "Wealth Tax" On The (Mostly) Non-Wealthy?
Submitted by Tyler Durden on 05/18/2016 - 11:26 As pensions dry up and blow away under the relentless erosion of the Federal Reserve's zero-interest rate policy (ZIRP), unaffordable property taxes may well start evicting homeowners from the "asset" they mistakenly thought they "owned." If your Social Security pension can barely pay your property tax, never mind your Medicare, healthcare costs, food and other living expenses, then what exactly do you own? If politicos and tax authorities think people will passively watch their neighbors lose their homes to sky-high property taxes, they will soon discover their mistake.
Crude Dumps, Pumps, & Slumps As Unexpected Inventory Build Offsets Production Cut
Submitted by Tyler Durden on 05/18/2016 - 10:38 Following API's smaller than expected draw overnight, DOE data showed an unexpedted 1.31m barrel build (3.5m draw expectations). This was offset by considerably bigger than expected draws in Gasoline and Distillates and Cushing oinventories rose less than expected. Crude production also fell once again, to its lowest since Sept 2014. The initial kneejerk was a mini-flash-crash in crude prices.. but that was rapidly bid back to unch...More Obama Job Distortions Loom: Overtime Pay Threshold Doubled
Submitted by Tyler Durden on 05/18/2016 - 10:25
Not
satisfied with economic distortions resulting from the redefinition of
full-time employment to 30 hours for Obamacare purposes but 32 hours for
every other purpose, President Obama is back at it. Today, by
executive order, Obama doubled the threshold for overtime pay to $47,476
a year. The Labor Department estimates the ruling will affect 4.2 million workers.
Citi Warns "Something Seems To Be Going On Here" As Rate Hike Fears Storm Back
Submitted by Tyler Durden on 05/18/2016 - 10:11 "It is hard to deny that there seems to be something going on here. It could either be a bored market triggering a momentum trade that feeds the narrative or it could be the market has sniffed out a change of tone from the Fed as these new Fed events get scheduled.... With the Yellen speech not coming until June 6, and the UK Referendum a week after the FOMC, I can’t see much logic to a June hike. Hiking a week before the UK vote seems like a totally unnecessary risk that this extremely risk-averse Fed would never take. But July makes perfect sense if they want to get a hike out of the way before election mania."
The Chart That Will Make Every American Driver Angry
Submitted by Tyler Durden on 05/18/2016 - 10:02 When crude oil prices started to collapse, the great American unwashed were told - day after day - that low oil prices were "unequivocally good" for them. That myth was destroyed as rent, healthcare, and debt-reduction trumped consumer gains. However, as angry Americans are seeing every day now, gas prices at their local pump have been soaring... having never dropped as they should. In fact, as the following anger-inducing chart below exposes, gas prices for the average joe are almost 50% higher than would be expected given the low oil prices...
And The Market Breaks Again...
Submitted by Tyler Durden on 05/18/2016 - 09:57 Update: with every index solidly in the green, and the selling halted, the market can be restored: NYSE - TECHNICAL ISSUE RESOLVEDAfter yesterday's plunge was unable to be stopped by a late day VIX slam; and this morning pre-open puke, there was only one thing left to do to stall the weakness...Break The Market!
Shocking Images Of Record Long Lines At US Airports
Submitted by Tyler Durden on 05/18/2016 - 09:05
For most of the post-1945 period the world economy has been under the
control of the large Anglo-American oil majors, their banks and their
friends in OPEC, most especially Saudi Arabia. Today that control in the
world oil market is irreparably broken. The world is entering a new
phase in the Petroleum Era, a potentially far more interesting one.In September 2014 when Brent oil prices were bouncing around the $100 a barrel range, Washington had the delusion that it could re-enact what it did with Saudi Arabia back in 1986 and collapse the world oil price in order to bring Russia to her economic knees. By December 2014 it was becoming clear that it was Washington and the US shale oil industry that was being brought to her knees, not Russia. That was the first major indication something was terribly wrong with the control mechanisms over world oil that Wall Street and the major Anglo-American oil companies had enjoyed for so many decades.
Read More
by Daisy Luther, Freedom OutPost:
Is the economy turning the United States into a slave nation? It
certainly looks like it, given the stories that we’ll be discussing this
week. Jobs are so difficult to find that employers can turn them into
sweatshops and people put up with it, just to be able to take care of
their families.
Add to this the reliance of the average American on the cheap, easily available processed food system, and we truly are a nation at the mercy of the overlords, who even control the news we’re allowed to see.
Read More
Is the economy turning the United States into a slave nation? It
certainly looks like it, given the stories that we’ll be discussing this
week. Jobs are so difficult to find that employers can turn them into
sweatshops and people put up with it, just to be able to take care of
their families.Add to this the reliance of the average American on the cheap, easily available processed food system, and we truly are a nation at the mercy of the overlords, who even control the news we’re allowed to see.
Read More
by Michael Snyder, End Of The American Dream:
What in the world is happening to America? Recently, I was asked to
describe what we are watching happen to our nation. After thinking
about it, I have come to the conclusion that it is almost as if a “cloud
of insanity” has descended upon the United States and much of the rest
of the western world. From our top leaders on down, people are engaged
in incredibly self-destructive behavior and are making extremely
irrational decisions. Some would describe it as being given over to a
depraved mind, and I would have to agree. It is almost as if some sort
of severe form of mental illness were rapidly spreading through the air
and infecting everyone. Virtually every day I am immersed in news and
current events, and it can be difficult to shock me after all this time.
But lately, there have been quite a few stories that have stunned even
me. The following are a few of those stories…
Read More
What in the world is happening to America? Recently, I was asked to
describe what we are watching happen to our nation. After thinking
about it, I have come to the conclusion that it is almost as if a “cloud
of insanity” has descended upon the United States and much of the rest
of the western world. From our top leaders on down, people are engaged
in incredibly self-destructive behavior and are making extremely
irrational decisions. Some would describe it as being given over to a
depraved mind, and I would have to agree. It is almost as if some sort
of severe form of mental illness were rapidly spreading through the air
and infecting everyone. Virtually every day I am immersed in news and
current events, and it can be difficult to shock me after all this time.
But lately, there have been quite a few stories that have stunned even
me. The following are a few of those stories…Read More
by Sarah Landers, Natural News:
According to the Centers for Disease Control and Prevention, one in
three U.S. adults suffers from high blood pressure – that’s around 70
million people. Only one half of those suffering with high blood
pressure actually have their condition under control, and treating high
blood pressure costs the U.S. $46 billion every year.
A recent study reported on by the Daily Mail has found that something as simple and cheap as drinking cherry juice is just as good as the medications that are usually prescribed to help people suffering with high blood pressure to get their condition under control. This is fantastic news, and supports the growing body of evidence that natural remedies actually work better than allopathic medications.
Read More
According to the Centers for Disease Control and Prevention, one in
three U.S. adults suffers from high blood pressure – that’s around 70
million people. Only one half of those suffering with high blood
pressure actually have their condition under control, and treating high
blood pressure costs the U.S. $46 billion every year.A recent study reported on by the Daily Mail has found that something as simple and cheap as drinking cherry juice is just as good as the medications that are usually prescribed to help people suffering with high blood pressure to get their condition under control. This is fantastic news, and supports the growing body of evidence that natural remedies actually work better than allopathic medications.
Read More
by Turd Ferguson, TF Metals Report:
On one side, we have The Specs. These” investors” seek an exposure to
gold through ownership of the paper derivative offered by The Comex. On
the other side, we have The Banks. These “criminals” fraudulently create
unlimited amounts of unbacked paper gold and sell them to The Specs in
an attempt to cap price and, ultimately, profit by covering at lower
prices. Which side will win? With open interest near record levels in
both gold and silver, we’re likely not going to have to wait much longer
to find out.
If you somehow managed to sleep through yesterday, here’s a recap. It was typical of the new, post-April 19 norm. Prices rose on the Sunday evening Globex. They rose further in Asia and they even extended through the London session. However, after hitting highs above $1290 in early Comex trading, prices were slammed for $15 in 15 minutes in a move that left many “analysts” searching for explanations: http://www.cityam.com/241192/analysts-puzzled-as-gold-and-silver-prices-suddenly-drop-during-us-morning-trading-
Read More
On one side, we have The Specs. These” investors” seek an exposure to
gold through ownership of the paper derivative offered by The Comex. On
the other side, we have The Banks. These “criminals” fraudulently create
unlimited amounts of unbacked paper gold and sell them to The Specs in
an attempt to cap price and, ultimately, profit by covering at lower
prices. Which side will win? With open interest near record levels in
both gold and silver, we’re likely not going to have to wait much longer
to find out.If you somehow managed to sleep through yesterday, here’s a recap. It was typical of the new, post-April 19 norm. Prices rose on the Sunday evening Globex. They rose further in Asia and they even extended through the London session. However, after hitting highs above $1290 in early Comex trading, prices were slammed for $15 in 15 minutes in a move that left many “analysts” searching for explanations: http://www.cityam.com/241192/analysts-puzzled-as-gold-and-silver-prices-suddenly-drop-during-us-morning-trading-
Read More
by Wolf Richter, Wolf Street:
“Marginalized” and “excluded” “due to the Crisis”: EU poll
The human aspects of the European crisis, such as the effects of horrific youth unemployment in some countries, have largely receded from the headlines that ECB potentate Mario Draghi rules with his beautifully concocted negative-interest-rate absurdity and his efforts to manipulate the financial markets. Lesser ECB figures also try to get into the headlines edgewise, including German Bundesbank president Jens Weidmann, but no one listens to him anymore.
Yet, and despite Draghi’s bluster, the real problems in the EU, particularly in Greece, Portugal, Cyprus, and Spain, have not been solved – and I mean, not at all – as shown by the results of the big poll about young people in the EU. The survey, commissioned by the European Parliament and conducted by TNS opinion, led to an evocatively-titled report, “Most young Europeans feel marginalized by the crisis, says Eurobarometer poll.”
Read More
“Marginalized” and “excluded” “due to the Crisis”: EU pollThe human aspects of the European crisis, such as the effects of horrific youth unemployment in some countries, have largely receded from the headlines that ECB potentate Mario Draghi rules with his beautifully concocted negative-interest-rate absurdity and his efforts to manipulate the financial markets. Lesser ECB figures also try to get into the headlines edgewise, including German Bundesbank president Jens Weidmann, but no one listens to him anymore.
Yet, and despite Draghi’s bluster, the real problems in the EU, particularly in Greece, Portugal, Cyprus, and Spain, have not been solved – and I mean, not at all – as shown by the results of the big poll about young people in the EU. The survey, commissioned by the European Parliament and conducted by TNS opinion, led to an evocatively-titled report, “Most young Europeans feel marginalized by the crisis, says Eurobarometer poll.”
Read More
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