15 Facts About The Imploding U.S. Economy That The Mainstream Media Doesn’t Want You To See

There is no debate any longer – the next economic crisis is already here...

"What The Hell Is Going On In Europe?" Banks Battered As Brexit Concerns Spread, Gold Soars As EUR Crashes

"The trajectory of European banks is really worrying... If banks are a main indicator of the health of a region, it gives you another reason to think ‘what the hell is going on in Europe?'"

British Labor MP Jo Cox Shot By Assailant Who Allegedly Shouted "Britain First"

With tensions in the UK already running high ahead of next week's historic Brexit vote, moments ago the Guardian reported that Jo Cox, the MP for Batley and Spen, was in critical condition after she was shot and stabbed in her West Yorkshire constituency.  The Labour politician was injured in the attack and there is an ongoing police operation in the area, a witness told the Press Association.  It is unclear who the assailant was or the motive.

 




"Wrong Way Gartman" 

"The World Is A Much More Frightening Place" - Gartman Flips From Net Long To Net Short

"Because this is a bear market in global terms, we need to position ourselves accordingly; that is we shall increase our short derivatives positions today in our own retirement funds while we reduce our long positions, sufficient to get ourselves into a small net short position by mid-day. The world is a much more frightening place than it was only a few days ago."

The One Chart Showing How The Fed Lost The Battle

Philly Fed Jumps On Surge In Prices Paid; Jobs, New Orders, & "Hope" Plunge

The jump in Philly Fed (from -1.8 to +4.7, beating expectations of +1.0) is considerably less exuberant than the mainstream would like to believe. The biggest driver of this jump back into 'expansion' was a huge surge in "Prices Paid" to the highest since Oct 2014. We are not sure how that is such great news as Prices Received collapsed. Furthermore, number of employees tumbled, New Orders fell to 4 month lows, and average workweek remains deep in contraction. Additionally, 'Hope' fell as the six month outlook dropped to 3 month lows. But apart from all that, yay... Philly Fed is up.

Highest Shelter Inflation Since September 2007 Means More Headaches For A Trapped Fed

The index for all items less food and energy increased 2.2 percent over the past 12 months. Over 60 percent of this increase is accounted for by the shelter index, which rose 3.4 percent over the span, its largest 12 month increase since September 2007. The rent index increased 3.8 percent over the past year, while the index for owners' equivalent rent rose 3.3 percent and the index for lodging away from home advanced 3.8 percent.

Initial Jobless Claims Still Decoupled From Hypocritical Fed's "Experimental" Labor Market Index Collapse

Having been told yesterday by Janet Yellen that The Fed's Labor Market Indicator is merely "experimental" - contradicting her Aug 2014 exuberance over the index - we thought it worth highlighting just how decoupled the nation's labor market data really is. Initial claims rose to 277 from 264k, slightly higher (worse) than the expected 270k but remain near the best in 40 year, as LMCI crashes to 6 year lows...

First Treasuries, Now China Is Also Liquidating US Stocks

As it turns out, China wasn't selling only Treasurys. According to a Bloomberg analysis when peeking deeper at the TIC data, while China’s sales of Treasuries have slowed, its holdings of U.S. equities are now showing steep declines as Beijing proceeds to liquidate a substantial portion of its US equities: China's stash of American stocks sank about $126 billion, or 38%, from the end of July through March, to just $201 billion. That far outpaces selling by investors globally in that period.

Global Stocks Continue To Plunge As Central Banks Disappoint, Brexit Looms

Futures on the S&P 500 slipped 0.3%, as U.S. equities are on track to extend losses for a sixth day.  Europe's Stoxx 600 fell to a four-month low, sliding 1% for its sixth decline in seven days, and U.S. crude retreated for a sixth day in the longest losing streak since February. Bond yields sank to records in Germany, Australia after Japan as Federal Reserve Chair Janet Yellen said next week’s U.K. vote on European Union membership was a factor in the decision to hold interest rates steady. The Yen surged more than 2% as the Bank of Japan refrained from adding any new stimulus,

What The First 100 Days After Brexit Would Look Like

Before dawn on June 24, if an exit vote becomes clear, the EU’s top brass from Berlin to Brussels will be forced into damage control. In echoes of the Greek debt crisis, euro-area finance ministers may hold an emergency meeting as soon as that evening. Wild swings in the pound, more aggressive interventions by the Swiss National Bank and a ratcheting up of global instability rank as likely market reactions.

Great reason to get rid of the Assholes at the U.N and Nato...

NATO Says It Might Now Have Grounds To Attack Russia

On Tuesday, June 14th, NATO announced that if a NATO member country becomes the victim of a cyber attack by persons in a non-NATO country such as Russia or China, then NATO’s Article V “collective defense” provision requires each NATO member country to join that NATO member country if it decides to strike back against the attacking country. In the context of this announcement that cyberwar is on the same status as physical war, Obama might declare the U.S. to have been invaded by Russia when former U.S. Secretary of State Hillary Clinton’s State Department emails were copied by someone in Russia.

These Are The Banks That Would Be Hardest Hit In The Event Of A Brexit

The problems that UK banks will encounter would be twofold: they would potentially lose access to European markets; and the next wave of concern would be presumably a weaker pound accompanied by higher interest rates - the latter hurting those who are already highly indebted. With Brexit odds at an all-time high, here is a succinct overview of the banks that would be the most affected should the UK vote to leave.

DHS Secretary Sees All Americans As A Threat: "Gun Control Has To Be A Part Of Homeland Security"

“We have to face the fact that meaningful gun control has to be a part of homeland security... We need to do something to minimize the opportunity...  to get a gun in this country.”

Will Brexit Give The US Negative Interest Rates?

by John Rubino, Dollar Collapse:
One of the oddest things in this increasingly odd world is the spread of negative interest rates everywhere but here. Why, when the dollar is generally seen as the premier safe haven currency, would Japan and much of Europe have government bonds — and some corporate bonds — trading with negative yields while arguably-safer US Treasuries are positive across the entire yield curve?
One answer is that the Bank of Japan and the European Central Bank are buying up all the high-quality (and increasing amounts of low-quality) debt in their territories, thus forcing down rates, while the US Fed has stopped its own bond buying program. So the supply of Treasury paper dwarfs that of German or Japanese sovereign debt. Greater supply equals lower price, and lower price equals higher yield.
The other answer is that this is just one of those periodic anomalies that persist for a while and then get arbitraged away. And Brexit might be the catalyst for that phase change.
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Facebook’s Offline Tracking, Denninger on Net Neutrality, Microsoft

from Boom Bust:

China’s Hidden Plan to Accumulate Gold

by James Rickards, Daily Reckoning:
China wants to do what the U.S. has done, which is to remain on a paper currency standard but make that currency important enough in world finance and trade to give China leverage over the behavior of other countries.
The best way to do that is to increase its voting power at the IMF and have the yuan included in the IMF basket for determining the value of the special drawing right. Getting those two things requires the approval of the United States because the U.S. has veto power over important changes at the IMF. The U.S. can stand in the way of Chinese ambitions.
China accomplished that last November when the IMF agreed to include the yuan in its basket of currencies.
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Monsanto and Bayer Finding It Tough to Be Ag Conglomerates These Days

from The Daily Bell:
Is it conceivable that the planet’s most vilified company could be the one that feeds it? That, in short, is precisely what Monsanto hopes it can do. “They believe they’re feeding the world, and there’s no other good way,” Connelly says. “Confidence that they’re doing the right thing has blinded them to the fact that they need to be out there defending it.” – Fortune
As usual, Monsanto is the center of a lot of attention. Bayer is making a huge bid for the company and Monsanto is trying to reinvent itself as a kind of agricultural data guru.
Monsanto is going to combine farming and various kinds of agricultural and climate data with its core ag-chem products to increase yields and offer innovative approaches on a massive scale.
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JANET YELLEN GOES DOVISH IN LATEST FOMC WHICH CAUSES GOLD AND SILVER TO RISE

from Harvey Organ:
CHINA MASSIVE DELEVERAGING ITS SOCIAL SPENDING: NO WONDER WE HAVE CONTRACTING GLOBAL DEMAND/NIGERA’S NIRA COLLAPSES SETTING THE STAGE FOR HYPERINFLATION
i) the June gold contract is an active contract. Last night we had a good sized 297 notices filed for 29,700 oz to be served upon today. The total number of notices filed in the first 11 days is enormous at 14,997 for 1,499,700 oz. (46.647 tonnes)
ii) in silver we had 0 notices filed. total number of notices served in the 10 days: 202 for 1,010,000 oz
Let us have a look at the data for June 15.
Read More @ HarveyOrganblog.com

Why This Economy Feels Even Crummier than the Data

by Wolf Richter, Wolf Street:
$271 billion in total business sales officially disappear: Census
Total business sales in the US did in April what they’ve been doing since July 2014: they dropped: -2.9% from a year ago, to $1.28 trillion (not adjusted for seasonal differences and price changes), the Censuses Bureau reported on Tuesday. That’s where sales had been in April 2013!
This is a barometer of just how tough business has become in the US. These sales are not just corporate sales, but total sales, including those by small operations and sole proprietorships. The data is survey based, and covers only sales in the US, unlike sales reported by S&P 500 companies, which include sales by their ventures overseas.
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‘Our Country Is Safer Than It Was 8 Years Ago’

by Susan Jones, CNSnews:
“The president does believe it is important that his successor is somebody who recognizes that our country is safer than it was eight years ago, that we enhanced our standing around the world, that we’ve strengthened our alliances — that we have refined and improved and strengthened our homeland security,” White House spokesman Josh Earnest told reporters on Tuesday.
“The American people do face a question about whether or not they want to build on that progress, because there surely is more that can be done to protect the American people,” he added. Earnest made the comment two days after a Muslim American claimed his deadly attack on an Orlando nightclub was inspired by ISIS.
Homeland Security Secretary Jeh Johnson, also speaking on Tuesday, said the FBI has “hundreds, if not thousands” of open investigations” going on, and he said the FBI “routinely” breaks up plots to the homeland.
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Orlando Victims Died Because They Were Unarmed – Not Because They Were Gay

by Brandon Smith, Alt-Market:
Numerous liberty movement analysts and proponents, myself included, have been warning about 2016 and the heightened potential for multiple terrorist events.  I have written extensively on the history of ISIS, its proven ties to western governments and the disturbing program to forcefully inject millions of Islamic refugees into western nations in the name of dubious “multiculturalism,” allowing thousands of potential terrorists into our borders without obstruction.  The reality is that terrorist attacks of small and medium scale are likely to become a monthly or weekly occurrence in the U.S. and the EU as we close in on the end of the year.  Get used to the idea, because this problem is not going to go away while our own governments are aiding and even funding the very psychopaths that they are supposed to be protecting people from.
The recent attack at at gay club in Orlando by a self-proclaimed ISIS advocate, killing at least 49 people and wounding at least 53 more, was not at all a surprise.  The scale of the attack should have been expected.  No one in the U.S. should have assumed anything less given the number of dead during events in Europe.
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Beyonce, Justin Timberlake and Other Celebs Paid MILLIONS to Endorse Cancer-Causing Junk Foods

by J. D. Heyes, Natural News:
Once you become a celebrity, especially in the entertainment and sports industries, it’s difficult not to make money. That’s because companies fall all over themselves to ink deals endorsement deals with you; the younger and hotter and more popular you are – a great demographic for many products – the more these companies will want to sign you up and use your celebrity to help them sell products.
Imagine, for instance, signing a $50 million to promote Pepsi products? Or $6 million just to utter three words on behalf of McDonald’s, “I’m lovin’ it”? Beyonce managed the first deal; Justin Timberlake the second.
In fact, a recent study published in the journal Pediatrics described lucrative endorsement deals of 65 music celebrities, most of them hawking some of junkiest of junk foods and unhealthiest of sugary drinks.
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Drudge to DHS Secretary: Give Up Your Guns First!

by Adan Salazar, Infowars:
Homeland Security Secretary Jeh Johnson should lead the way in relinquishing the guns used to protect him, the founder of DrudgeReport.com said Tuesday.
The secretary told “CBS This Morning” earlier this week that the shooting in an Orlando nightclub meant the Second Amendment had become a Homeland Security issue.
“We have to face the fact that meaningful gun control has to be a part of homeland security,” Johnson said. “We need to do something to minimize the opportunity for terrorists to get a gun in this country.”
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Fukushima Unit 3 Spent Fuel Pool 2016

from MsMilkytheclown1:































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