Submitted by Tyler Durden on 05/05/2016 - 16:34
In an oddly ironic twist, today Donald Trump announced that he has picked as chairman of his newly launched fundraising operation none other than a former employee of the bank he has repeatedly criticized in the past, and which he used as a foil to criticize Ted Cruz: Goldman Sachs. In addition to Goldman, Mnuchin also worked for Soros previously. Where it gets even more ironic is that Mnuchin has donated frequently to Democrats, including to Clinton and Barack Obama.
An Open Letter To Those Disappointed By 'Both' US Presidential Candidates
Submitted by Tyler Durden on 05/05/2016 - 16:30 If you are one of those rare souls who genuinely believe Hillary Clinton and Donald Trump are honorable people – if they are the role models you want for your kids – then this letter is not for you...
Caught On Tape: 100s Of M1 Abrams Tanks Roll Through Houston, TX
Submitted by Tyler Durden on 05/05/2016 - 17:00 Just days after we exposed Texas police planning for riots and conducting mass arrest drills, the site of hundreds of M1 Abrams battle-tanks rolling on a train through Houston raised more than a few eyebrows...
Speaker Ryan Ditches Donald: "Just Not Ready To Support Trump"
Submitted by Tyler Durden on 05/05/2016 - 16:43 “At this point I’m not ready to jump in, but I hope we can get there."Sinko Day Stocko - Crude Pump'n'Dump Leads Trannie Slump
Submitted by Tyler Durden on 05/05/2016 - 16:03
Warning Signs
Submitted by Tyler Durden on 05/05/2016 - 15:55 Rising wages and employment costs (benefits, healthcare, etc.) are a direct input into the profitability equation. Therefore, as the economy slows and other cost-cutting measures, accounting gimmicks and share buybacks lose their ability to increase bottom line profitability, it is only a function of time before the focus returns to the cost of labor. With corporate profitability currently under pressure, overall economic activity weak and global conditions deteriorating, just how long can companies sustain employment and wage growth? The answer is not long.
Haunting Pictures Of A Transportation Recession As Freight Rail Traffic Plunges
Submitted by Tyler Durden on 05/05/2016 - 15:42 The impact of the transportation recession on railroads is now very visible. Here’s how Union Pacific is dealing with this issue, via Google Earth, on May 3: 292 engines idled on a siding west of Benson, Arizona, along I-10, for a stretch of nearly 4 miles. Note how the line of locomotives curves and fades into the left edge of the photo – an once majestic and haunting sight, all these powerful machines idled on a track in the Arizona desert...
The Death Of #NeverTrump
Submitted by Tyler Durden on 05/05/2016 - 15:40 It appears from the explosion of social media furore that, as infowars.com reports, the #NeverTrump movement and social justice warriors are completely imploding after Trump won the Indiana primary and became the presumptive Republican nominee for President.
When You Run Out Of Other People's Money
Submitted by Tyler Durden on 05/05/2016 - 15:25 ...it's time for another bailout!!
For The First Time Ever, China Shows Footage From Disputed, Man-Made Reef
Submitted by Tyler Durden on 05/05/2016 - 15:14 For the first time ever, Chinese State television has aired construction work on the artificial island known as the Fiery Cross, or Yongshu, Reef in the Nansha Islands, located in the contested territory inside the South China Sea.Stunning Dash Cam Footage From Inside Alberta's "Apocalyptic" Inferno
Submitted by Tyler Durden on 05/05/2016 - 15:08
The True State Of The US Consumer: All Six Retail Companies Reporting April Comp Sales Missed
Submitted by Tyler Durden on 05/05/2016 - 14:52 If one looks at the state of retail companies reporting same-store sales today, a troubling picture emerges about both the US economy and the US consumer emerges. As Bloomberg notes, each of six companies, among which L Brands, Zumiez, The Buckle, Costco, The Cato Corporation and Fred's - that reported April comparable sales missed estimates compiled by Retail Metrics.
Migrant Rape Epidemic Reaches Austria
Submitted by Tyler Durden on 05/05/2016 - 14:41 The brutal gang rape of a woman by three Afghan asylum seekers in central Vienna on April 22 has shocked the Austrian public and drawn attention to a spike in migrant-related rapes, sexual assaults and other crimes across the country. However, those who dare to link spiraling crime to Muslim mass migration are being silenced by the guardians of Austrian multiculturalism.
Support For Anti-Muslim AfD Hits Record High As 60% Agree That "Islam Does Not Belong In Germany"
Submitted by Tyler Durden on 05/05/2016 - 14:09 An astonishing 61% of Germans agreed that Islam does not belong in Germany. This result further explains AfD's surge in popularity, as the AfD reportedly has a section in its new party program called "Islam is not part of Germany", which is a position that 92% of its supporters agree with.
One Chart Says It All
Submitted by Tyler Durden on 05/05/2016 - 13:35 This chart says it all: real income is declining and the bottom 95% are poorer. No wonder people are socking away what they can and tightening their spending: they have no other choice, even as the Federal Reserve strip-mines their savings.
Trumped! Why It Happened And What Comes Next, Part 1
Submitted by Tyler Durden on 05/05/2016 - 13:23 First there were seventeen. At length, there was one. Donald Trump’s wildly improbable capture of the GOP nomination, therefore, is the most significant upheaval in American politics since Ronald Reagan. And the proximate cause is essentially the same. Like back then, an era of drastic bipartisan mis-governance has finally generated an electoral impulse to sweep out the stables.
The World's Largest Shipping Company Is Already Preparing For The Next Oil Crash
Submitted by Tyler Durden on 05/05/2016 - 13:17 It is the risk that the current 60% rebound in oil prices from 2016 lows is just another temporary bounce, that has forced Maersk to start preparing for the next oil crash. The company's CEO is confident that since the world keeps producing more petroleum than it can consume, it is "adapting its cost base to prepare for the risk of lower crude prices" according to Bloomberg.
"Summer Of Shocks" Is Upon Us: BofA Warns "Own Volatility", Wait To Buy Stocks Until VIX > 20
Submitted by Tyler Durden on 05/05/2016 - 13:08 "Own volatility.." is the subtle message from BofA's Michael Hartnett, who warns "don't add risk before SPX 1950-2000 range and/or VIX>20." Simply put, as he explains below, bullish "positioning shocks" & "policy shocks" are largely behind us; and there is no bullish "profits shock" coming in a world that cannot cope with a higher US dollar & higher rates.
From 'Mad Dog' Mattis To New Mexico's Martinez - Donald Trump's Top 10 'Veep' Contenders
Submitted by Tyler Durden on 05/05/2016 - 12:51 The race for The White House appears to have taken a backseat for a news cycle as the Republican "veepstakes" gets underway. Donald Trump said this morning that he would prefer a running mate with government experience to "help with pushing legislation through," adding that he puts a 40% chance that a former rival in the Republican race would get the nod. As The Hill reports, picking a VP could be a difficult undertaking, as some potential candidates might be hesitant to hitch their political future to a polarizing figure like Trump, but there will be plenty willing to roll the dice and join his historic outsider campaign.
by Andy Hoffman, Miles Franklin:
It’s Thursday – and arrogant though it seems, I cannot wait for tomorrow’s NFP “employment” report. For the 14 years I have been fully invested in Precious Metals, this increasingly fraudulent report – more so, with each passing month of the U.S. empires’ demise – has been a “key attack event” for Precious Metals; a “key support event” for financial assets; and a rallying cry for Washington, Wall Street, and MSM propagandists alike.
However, the rubber is about to hit the road, as the propaganda “can” has been kicked to the wall, with not an inch to progress. Regarding the “nuts and bolts” of the dying American economy’s – the manufacturing sector that is permanently dead and buried – thispicture, of 300 idled Union Pacific locomotives in the Arizona desert, tells you all you need to know. As, care of collapsing economic activity – U.S. rail freight is down 12% from a year ago, whilst durable goods and factory orders have declined for 14 and 17 straight months, respectively. Thus, particularly in light of the massive overcapacity financed by six years of zero cost “money,” the trend of expanding layoffs will unquestionably continue, ad infinitum.
Read More
It’s Thursday – and arrogant though it seems, I cannot wait for tomorrow’s NFP “employment” report. For the 14 years I have been fully invested in Precious Metals, this increasingly fraudulent report – more so, with each passing month of the U.S. empires’ demise – has been a “key attack event” for Precious Metals; a “key support event” for financial assets; and a rallying cry for Washington, Wall Street, and MSM propagandists alike.
However, the rubber is about to hit the road, as the propaganda “can” has been kicked to the wall, with not an inch to progress. Regarding the “nuts and bolts” of the dying American economy’s – the manufacturing sector that is permanently dead and buried – thispicture, of 300 idled Union Pacific locomotives in the Arizona desert, tells you all you need to know. As, care of collapsing economic activity – U.S. rail freight is down 12% from a year ago, whilst durable goods and factory orders have declined for 14 and 17 straight months, respectively. Thus, particularly in light of the massive overcapacity financed by six years of zero cost “money,” the trend of expanding layoffs will unquestionably continue, ad infinitum.
Read More
by Tim Brown, Freedom Outpost:
“Greater love hath no man than this, that a man lay down his life for his friends.” –John 15:13
A US Navy SEAL has been killed in the Iraqi town of Tel Asqof. He was serving as an advisor to the Kurdish Peshmerga when he was killed during an Islamic State assault “on a Peshmerga position approximately three to five kilometers behind the forward line of troops,” according to a Pentagon press statement.
US Defense Secretary Ash Carter says an American service member has been killed in Iraq. A statement from the US-led forces in Iraq added the fatality was “a result of enemy fire.”
Read More
“Greater love hath no man than this, that a man lay down his life for his friends.” –John 15:13
A US Navy SEAL has been killed in the Iraqi town of Tel Asqof. He was serving as an advisor to the Kurdish Peshmerga when he was killed during an Islamic State assault “on a Peshmerga position approximately three to five kilometers behind the forward line of troops,” according to a Pentagon press statement.
US Defense Secretary Ash Carter says an American service member has been killed in Iraq. A statement from the US-led forces in Iraq added the fatality was “a result of enemy fire.”
Read More
from The Daily Coin:
Earlier this week we reported, via Investment Research Dynamics, there was “mile long train” hauling UN heavy vehicles. The UN trucks, personal carriers and the like were not brand new, but, what was reported, in state resembling very heavy use.
As was reported at the time:
He said in South Carolina he saw a convoy of UN vehicles that was literally a mile long. He said it was nothing but heavy equipment carriers, cargo transport trucks and construction equipment trailers. He said the trucks and trailers were empty but they where beat up and looked well used.
Read More
Earlier this week we reported, via Investment Research Dynamics, there was “mile long train” hauling UN heavy vehicles. The UN trucks, personal carriers and the like were not brand new, but, what was reported, in state resembling very heavy use.
As was reported at the time:
He said in South Carolina he saw a convoy of UN vehicles that was literally a mile long. He said it was nothing but heavy equipment carriers, cargo transport trucks and construction equipment trailers. He said the trucks and trailers were empty but they where beat up and looked well used.
Read More
by Pam Martens and Russ Martens, Wall St On Parade:
Yesterday, the Federal Reserve held a public board meeting to propose
two new Byzantine rules to prevent another 2008-style financial
contagion on Wall Street and potential crash of the U.S. economy.
Unfortunately, the details brought images of the curtain scene from the
Wizard of Oz. If you looked beyond the copious verbiage, there didn’t
seem to be much there, there.
Both plans appeared to target concerns over derivatives. Coincidentally, Freddie Mac, already a ward of the government as a result of the 2008 crash and a derivatives counterparty to some of Wall Street’s largest banks, reported yesterday that it had lost $4.56 billion in its derivatives portfolio in just the first three months of this year. Derivative losses were an early precursor to the 2008 crash.
Read More
Yesterday, the Federal Reserve held a public board meeting to propose
two new Byzantine rules to prevent another 2008-style financial
contagion on Wall Street and potential crash of the U.S. economy.
Unfortunately, the details brought images of the curtain scene from the
Wizard of Oz. If you looked beyond the copious verbiage, there didn’t
seem to be much there, there.Both plans appeared to target concerns over derivatives. Coincidentally, Freddie Mac, already a ward of the government as a result of the 2008 crash and a derivatives counterparty to some of Wall Street’s largest banks, reported yesterday that it had lost $4.56 billion in its derivatives portfolio in just the first three months of this year. Derivative losses were an early precursor to the 2008 crash.
Read More
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