Tuesday, March 1, 2016

"We're In Trouble": Alan Greenspan Delivers Stark Warning



“We’re in trouble basically because productivity is dead in the water…Real capital investment is way below average. Why? Because business people are very uncertain about the future.”


Spot The End Of Monetary Policy Effectiveness

This won't end well...
 



Worst Global Economic Data In 4 Years Sparks Stocks Best Day In 6 Months











Explaining Trump's Success In One Chart

Behold! The "wealth effect."


Three Weeks After Buying Stocks, Gundlach Is Cashing Out Again: "I'm Bearish"

In an interview with Reuters Jennifer Ablan after DoubleLine Capital's February flow figures were released (it was a $2.2 billion inflow) , Gundlach said the firm is now considering closing out some of its long positions in the stocks that they purchased three weeks ago.... And just to avoid confusion, this is where Gundlach stands now:  "I am bearish. There are just wiggles and jiggles in the markets."




Is Ackman Facing A Liquidity Crunch: CP Files Shelf With Pershing As Selling Shareholder

Earlier this afternoon, Pershing Square portfolio company (long 13.9 million shares) Canadian Pacific filed a $1.5 billion mixed Registration Shelf statement which covered everything from Common to Preferred to Warrants and Units. What was curious about the CP shelf is the following disclosure: "Certain funds managed by Pershing Square ... may also from time to time offer and sell Common Shares pursuant to this prospectus. See “Selling Shareholder."



Crude Crushed After API Reports Biggest Inventory Build In 11 Months

Following last week's builds overall and at Cushing, and Genscape's Cushing build warnings, expectations were for a 3.3m build overall (and 700k build at Cushing). API reported a massive 9.9mm build - the largest since April 2015; and a yuuge build at Cushing of 1.8mm (most in 3 months). Gasoline saw a draw but Distilates a notable build. Following today's v-shaped recovery in WTI, and NYMEX close ramp, the API data has sent crude reeling.



The Entire System Is Rigged Against Your Prosperity

This system makes the US, and most Western countries, easy to be a consumer. But it’s becoming more difficult to be a producer. This entire system is rigged against the Universal Law of Prosperity. And when all the incentives make it easier to consume than produce, it’s not hard to figure out where this destructive path will ultimately lead.



Downside Risk Escalates As "New Highs" Falter

So has the latest rally kicked the equity market correction to curb and have equity markets entered into a new bull phase? Unfortunately, one of the more reliable market internal data points is indicating to us that there is probably further downside ahead in the short-term for investors.



Google Releases Its Robotic Dog In The Wild, Leads To The Following "Close Encounter"

one week after GOOG shocked the public with the eerie-looking "Atlas", it has now gone the cuteness route and released another clip, this time of Spot, Google's electronic dog, which is seen in the following celip in "the wild" and engaged in a close encounters with its non-robotic peers.



Sweden's Migration "Industry"

Although a small clique in Sweden have become millionaires because of the migration industry, the schools, police, social services and taxpayers in Sweden have lost a lot and have a difficult and uncertain future. There will be major conflicts in Sweden. There is nothing "noble" in Sweden's migration policy, which, far from being a good example of how a migration policy should function, is an embarrassment and a disaster, and its final result is chaos, conflict, and corruption.



The Great Corporate Earnings Fraud

Corporate earnings reports for the fourth quarter are pretty much in the books. The deception, falsification, accounting manipulation, and propaganda utilized by mega-corporations and their compliant corporate media mouthpieces has been outrageously blatant. It reeks of desperation as the Wall Street shysters attempt to extract the last dollar from their muppet clients before this house of cards collapses.



This Is The Reason For Today's Nat Gas Surge

"On Tuesday, March 1, 2016, Rockies Express Pipeline LLC (“REX”) experienced an operational interruption at its mainline on Segment 390 in Monroe County, Ohio. REX is currently mobilizing repair crews however a return to service date is unknown at this time. REX will post updates as additional information becomes available. Accordingly, REX is declaring a Force Majeure situation..."



Someone Isn't "Buying" This Rally: The "Smart Money" Sells For Five Consecutive Weeks As Buybacks Soar

No matter what unleashed today's algo buying spree, one thing is clear: someone has to be buying and someone has to be selling into what, Investech yesterday explained, is the latest bear market rally. Thanks to Bank of America we know the answer to both.



Today's Rally "Explained" In Just Two Headlines





According to Larry "Ban $100 Bill" Summers, Donald Trump Is The "Greatest Threat To American Democracy"

"Donald Trump’s rise goes beyond his demagogic appeal. It is a reflection of the political psychology of frustration – people see him as responding to their fears about the modern world order, an outsider fighting for those who have been left behind. If we are to move past Trumpism, it will be essential to develop convincing responses to economic slowdown."



"VIX Tails" Send Dow Up 350 Points From Overnight Lows

A more wonkish conspiracy-theorizing onlooker might suspect that the increasing ubiquitousness of VIX tails is sending a message to markets of what to do next...



China's Mass Unemployment Wave Begins: Six Million Workers To Get Pink Slips

Today, Reuters finally peels away the first layer of just how bad China's mass layoff wave will be when it reports that China aims to lay off 5-6 million state workers over the next two to three years as part of efforts to curb industrial overcapacity and pollution. As Reuters adds, "China's leadership, obsessed with maintaining stability and making sure redundancies do not lead to unrest, will spend nearly 150 billion yuan ($23 billion) to cover layoffs in just the coal and steel sectors in the next 2-3 years."



Most "Priced In" Policy Since 2011 - Why Draghi Better Not Disappoint

Mario Draghi better put up or shut up at the next ECB meeting as the market is more-than-pricing-in a very significant deposit rate cut (deeper into NIRP). In fact, at -56bps, 2Y German bond yields are the most "priced in" since 2011 (and bear in mind he disappointed in December).



"Iron Lady" Summarizes Brexit Decision In 3 Words

In 1990, British Prime Minister Margaret Thatcher exclaimed her opposition the common currency and European integration very simply: "No! No! No!" Perhaps it is time to revisit her thoughts as Britain considers leaving The EU.



Global Manufacturing Rolling Over: Over 70% Of Global PMIs Decline In February

28 regions have reported their global manufacturing PMI surveys so far. Seven saw improvements in their manufacturing sectors in February, twenty recorded a weakening, and India was unchanged. This means that over 70% of the world saw manufacturing sentiment deteriorate in February compared to January.



Could Donald Trump Be A New Kind Of Transactional President?

The possibility that Trump would step on favored political toes and act pragmatically to rein in Imperial over-reach terrifies the bloated Imperial city of Washington D.C.


“Golden Cross” for Gold

from GoldSeek:

Last Friday, gold experienced a “golden cross,” a technical indicator that occurs when an asset’s 50-day moving average crosses above its 200-day moving average. It’s the first such movement in nearly two years and is a sign that gold might have further to climb.
But there’s more exciting news involving gold. On the same day that New Jersey Governor Chris Christie endorsed Donald Trump for president, the precious metal received its own high-profile endorsement. In a note to investors, Deutsche Bank said it’s time to buy gold, writing: “Buying some gold as ‘insurance’ is warranted.” The bank also stated its opinion that gold “deserves to be trading at elevated levels versus many other assets.”
The metal is already up 15 percent so far in 2016, its best start to the year in decades. But it started 2015 strong too, if you remember, before prices began to collapse in February.
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The Trump Assassination Danger Zone Begins In September

by Dave Hodges, The Common Sense Show:

If Donald Trump continues to increase his GOP lead and the Elite of the GOP are not able to find a candidate capable of supplanting him at the Republican Convention, Trump’s danger zone with regard to assassination begins in September. Trump should really find a way to avoid the Ambassador Hotel at all costs for he will suffer the fate of Robert Kennedy.
Americans May Be “Dumbed Down”, But They Are Not Dumb Enough to Vote for Hillary, Cruz and Rubio
America’s ineptitude and unwillingness to fight for what is right, or to even know what is true, is re-elected in Rick Shenkman’s book, Just How Dumb Are We? Shenkman found that 87% of American college students could not find Iraq on a map. In fact, Shenkman also found that:
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Nine cancer cures that the Medical Mafia doesn’t want you to know about

by S.D. Wells, Natural News:
Are you a health nut? Why not? What’s stopping you? Do you think that it’s illegal to cure diseases with food, or is that just what you read in JAMA — The Journal of the American Medical Association? Maybe you saw some label that the FDA slapped on an organic product which says food can’t claim to cure any disease or disorder — yes — that was probably it. That’s because the only way to patent US “medicine” and make a fortune is to combine in a lab synthetic chemicals that cause horrific side effects, then pay the FDA millions to approve it. Unfortunately, that method also involves selling your soul to the Medical Mafia, who control you and perpetuate the “fake war” on cancer — the one that actually mutates MORE human cells and leads to an early grave. Do you want to participate in THAT?
So without further adieu, here are nine cures for cancer proven by people who had cancer but no longer do! Shhhh! Don’t tell the Medical-Industrial Complex.
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Improvised Weapons: Self-defense in the Real World

from Off Grid Survival:

I’m a huge supporter of the second amendment, and I’m a big proponent of always being armed; that being said, far too many gun owners rely solely on their firearm as their only means of defense. If you’re one of those people who believe you’re ready for anything, simply because you carry a gun, you need to seriously rethink your self-defense strategy.
Why self-defense tools and training are so important, even if you carry a gun.
No matter how great of a shooter you are, or how many times you’ve been to the range to practice your shooting skills, there are going to be times when you may not be able to get to your gun — think I’m wrong? Check out my article on guns vs knives in close quarters combat, and you’ll see exactly why non-firearm self-defense skills are something that every gun owner needs to learn.
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The “Dead List”: Who The Secret Government Plans to Target Next

by Mac Slavo, SHTFPlan:

Justice Scalia is just the latest of targeted and politically motivated deaths that have taken place during the Obama Administration, and virtually everyone is raising questions about the suspicious details surrounding his death, including the lack of autopsy or official investigation into the possible causes of death.
The motive is simple: subversion of the laws and rights of this country. Obama is likely enough to get a third Supreme Court appointment, in spite of the opposition. If he doesn’t, Hillary might.
Regardless, an effort that has already been well underway is coming to a head. And there is no reasonable doubt that a larger-than-Nixon enemies list exists, and is being executed.
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"The Others Are Worse Than Hitler" A Middle-American Couple Explain Why They're Voting For Trump



"Yes, we could be like the good citizens who voted for a "tameable" Hitler in 1933 to get things back on track. But the alternatives look worse."


Crude Tumbles Into Red After Putin Comments

With overnight weakness in data sparking hype that moar stimulus is coming, and therefore juicing demand for oil, crude prices spurted above $34.50 this morning (after the NYMEX close banging yesterday). However, the last few minutes have seen the machine slam WTI back into the red after Putin said he would ask Russian oil producers if they will freeze production (at record levels).
 



Super Tuesday Preview: Trump, Clinton On Collision Course

On Tuesday, Donald Trump and Hillary Clinton are expected to all but lock up the GOP and Democratic nominations, respectively. If all goes as planned, the stage will be set for an epic political showdown between the bellicose billionaire and the belligerent former Secretary of State.


The Two-Party Illusion

The Great Illusion of the two-party system is that it allows the voter a choice – usually between a liberal and a conservative government. The reality is that, whichever party wins the election, the government is, in truth, a totalitarian one. The “choice” is a mere distraction from the true objective.



In Bed with a Nation-Wrecker: 5 Ways Hillary Is As Bad As Bil

from Nation of Change:

In 1996 Bill Clinton referred to the U.S. as “the world’s greatest force for peace and freedom, for democracy and security and prosperity.”
For PEACE he cluster-bombed civilians in Yugoslavia, wiped out a pharmaceutical factory in Sudan, and stood by as Iraqi sanctions and Rwandan genocide killed hundreds of thousands of people.
For FREEDOM he oversaw the largest increase in prison population in U.S. history, with the great majority of prisoners in for nonviolent drug offenses, and with more people working in criminal justice than in social services.
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Congratulations To Prominent Anti-HFT Critic Eric Hunsader For Winning $750,000 Whistleblower Award

We are delighted to report that after many years, Nanex has finally been vindicated, and is the first whistleblower paid under the Dodd-Drank Wall Street Reform and Consumer Protection Act of 2010 meant "to reward an independent third party for analysis of a potential securities law violation." His reward: $750,000.



The Scariest Chart For NatGas Bulls

With analysts calling NatGas's glut even bigger than crude's, the following 'chart' has just become the scariest in the world for the energy complex. As Bloomberg warns, if you live in the eastern U.S., it’s almost time to put that snow shovel away and get out the gardening tools, as March temperatures are expected to be considerably higher than expected across the entire US (except Florida, sorry).



The Best And Worst Performing Assets Of February And 2016





Gold Retests $1250 After Dismal Global Data Dump

From decoupled American to deteriorating China, PMIs (and plenty of other data) is rapidly descending into the ugly reality that every mainstream economist is in denial about. Of course, this terrible news is terrific news for stocks (moar stimulus) but it is Gold that appears to be benefitting most as the inevitability of the next extreme monetary policy makeover looms ever closer...



Today's Rally Explained: Gartman Is Again "Selling The Markets Short" Just Two Days After Turning Bullish

"We are selling the markets short once again, having been short recently and having covered that short only a “short” while ago. But we are sellers once again this morning, noting that as the global markets have rallied they have done so on lesser volume on balance. Volume should follow the trend and the trend and volume are pointing lower, not higher."



Barclays Crashes Most Since 2012 On Dividend Cut, Abysmal Results

"Look at your stock price. No one believes your story!"



Stocks Squeeze Higher On "Super Tuesday" As Poor Macro Is Offset By Jack Lew's Soothing Words

With markets happy to put February in the history books because it marked the fourth consecutive monthly decline in global stocks, we move on to March 1st, which doubles down as 'Super Tuesday' in the US when Trump's presidential candidacy will almost certainly be sealed and a day in which stocks decided to join the super fun by super surging overnight on nothing but bad global macro and economic which however was promptly ignored and instead the focus was on ongoing central bank intervention and even more jawboning.



"This Is Pretty Freaking Nuts": Vancouver Home Sells For $735,000 Above Asking Price

“As a proposition for someone who’s going to live in that house and what you’re getting for four million plus – that is a ridiculous joke and that is not something that’s going to work for people who just make a living in Vancouver."



Japan Sells 10Y Bond At Negative Yield For First Time Ever

As we detailed earlier, for the first time in the history of crazy, Japan 'sold' 10-year government bonds today at a negative yield. Translated into English, this means "investors" agreed to pay the Japanese government 2.4bps per year for the privilege of lending it money for 10 years...



Caught On Tape: Aggressive Time Reporter "Choke Slammed" At Trump Rally By Secret Service

"We choke slammed some folks"...



China Faces 15 Trillion Bombshell As Shadow Banking Sector Collapses

If WMP buyers decide to ‘go on strike’ for whatever reason, a liquidity crunch in the shadow banking sector could quickly develop in our view.


WW3: Fighters From Turkey Are Pouring Into Syria And Attacking Targets Despite The Ceasefire

by Michael Snyder, The Economic Collapse Blog:

The ceasefire in Syria is a joke.  Turkish military units continue to mass along the border, and militants are pouring across the border to attack targets in northern Syria.  The Prime Minister of Turkey is now openly admitting that his government is supporting the militants that are trying to overthrow the Syrian government, and the Turkish government has also made it abundantly clear that they have no plans to stop shelling the Kurds on the other side of the border.  So despite the “ceasefire”, the truth is that the threat of World War 3 breaking out in the Middle East is greater than ever.
At times it is difficult to see the dividing line between the Turkish military and the radical jihadists that are hopping back and forth across the border with the full support of the Turkish government.
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Russian Military Reveals Details of ISIS-Daesh Funding, Turkey’s Role in Supporting the Terrorists, Complete Transcript, Videos, Documents

by Mark Nicholas, Global Research:

Russian Defense Ministry held a major briefing:
“A whole team of bandits and Turkish leadership [Erdogan’s family as well] stealing oil from their neighbors and are involved in illegal oil trade with ISIS” ~
(1) FULL SPEECH of the Russian Deputy Defence Minister Anatoly Antonov during the briefing “Russian Federation Armed Forces fighting against international terrorist. New data”
International terrorism is the world’s biggest threat today. It is not an imaginary threat.
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ECB Unveils Ingenious Strategy to Reduce Banking Stress

from Wolf Street:

Things have been pretty stressful of late in Europe’s banking sector. The introduction of the banking union’s bail-in rule has caused bondholders and stockholders to have second thoughts. The Euro Stoxx Banks Index has plunged 20% year-to-date despite the recent rally, and is down 38% since July.
Many of the worst affected bank stocks are those of so-called systemically important institutions. Deutsche Bank’s shares are down 50% from highs last July, while Spanish behemoth Santander’s shares have plumbed depths not seen since the 1990s. Concerns have also emerged about the ability of big lenders to turn a profit in a negative-interest-rate environment, following disappointing earnings by Societe Generale SA, HSBC Holdings Plc and Standard Chartered Plc.
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Scientists Genetically Modify E. coli to Create Opioids

by Julie Fidler, Natural Society:
Stomach this: scientists are genetically engineering bacteria which cause food-poisoning to create new opioid painkillers.
It’s OK. I’ll give you time to re-read that sentence.
According to the World Health Organization (WHO), an estimated 5.5 billion people worldwide have little or no access to opioid drugs due to limited supply and high costs. Sure, many people could benefit from powerful painkillers – after surgery, for example, and to take the edge off of severe pain caused by cancer – but here in America, we’ve been giving out opioids like M&Ms for every little ache and pain.
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“There’s Never been a Change this Big, Nor so Many People Unprepared.”

from Sovereign Man:
I had an amazing time this weekend sharing the stage at an investment conference in Miami, with other speakers like Robert Kiyosaki, Peter Schiff, and G. Edward Griffin among others.
During a panel on the future of money and banking we discussed how the financial system is rapidly losing control of its own product, i.e. money, in the same way that the music industry has lost control of its product.
In the past there used to be a handful of large record labels that controlled the distribution of music across the world.
In the same way, our financial system was set up for a handful of banks to tightly control the distribution of money across the world to the point that no financial transaction could occur without a bank inserting itself in the middle.
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Gold Daily and Silver Weekly Charts – Goodbye to February, Non-Farm Payrolls on Friday

from Jesse’s CafĂ© AmĂ©ricain:
And so we close the door on the leap year-lengthened month of February, which was a particularly good month for gold.
And as always with the end of one month and the beginning of another, there will be a Non-Farm Payrolls report at the end of this week.
Gold is clearly in a symmetrical triangle, trying to decide which way to break, up or down, from this potential ‘cup and handle’ formation.  And remember right now it is all potential, not having set a firm handle and broken up and out from that retest.
I included some material from a few years ago that shows the formation when it works in both a textbook and a ‘real life’ example.  You may read about it here.
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Former GMO Scientist Exposes the Outright Lies and Propaganda of the Biotech Industry

by David Gutierrez, Natural News:
Thierry Vrain, who spent many years as a research scientist and genetically modified organism (GMO) advocate for Agriculture Canada, has recently gone public with his conclusion that GMOs are dangerous for humans, animals and the environment.
“I refute the claims of the biotechnology companies that their engineered crops yield more, that they require less pesticide applications, that they have no impact on the environment and of course that they are safe to eat,” he wrote.
While at Agriculture Canada, Vrain was the scientist designated to address public groups with the message that GMOs were safe.
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London Bubble Trouble – Visas Issued to Wealthy Foreigners Plunge 84%

from Liberty Blitzkrieg:
It appears the music may have finally stopped for one of the world’s largest luxury real estate bubbles: London.
It’s well known that foreign oligarchs love London real estate as a means to launder funds, typically “earned” by soaking their host countries dry via corruption and fraud. This has caused absurd and irrational spikes in high-end residential real estate in the English capital, as well as a flood of new construction. With emerging markets now completely collapsing, the seemingly endless flood of foreign money is drying up, and with it, London real estate.
So has the London real estate bubble popped? Probably.
Read More…


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