18
Signs That Global Financial Markets Are Entering A Horrifying Death Spiral
You
can see it coming, can't you? The yield on 10 year U.S. Treasuries is
skyrocketing, the S&P 500 has been down for 9 of the last 11 trading days
and troubling economic news is pouring in from all over the planet. The
much anticipated "financial correction" is rapidly approaching, and
investors are starting to race for the exits. We have not seen so many
financial trouble signs all come together at one time like this since just
prior to the last major financial crisis. It is almost as if a
"perfect storm" is brewing, and a lot of the "smart money"
has already gotten out of stocks and bonds. Could it be possible that we
are heading toward another nightmarish financial crisis? Could we see a
repeat of 2008 or potentially even something worse? Of course a lot of
people believe that we will never see another major financial crisis like we
experienced in 2008 ever again. A lot of people think that this type of
"doom and gloom" talk is foolish. It is those kinds of people
that did not see the last financial crash coming and that are choosing not to prepare for the next one
even though the warning signs are exceedingly clear. Let us hope for the
best, but let us also prepare for the worst, and right now things do not look
good at all. The following are 18 signs that global financial markets are
entering a horrifying death spiral... (Read More....)
#1 The yield on 10 year U.S. Treasuries has risen for 5
of the past 6 days, and it briefly touched the 2.90% level on
Monday.
#2
Rapidly rising interest rates are spooking investors and causing them to pull
money out of bonds at a very rapid pace...
Investors have yanked nearly $20 billion
from bond mutual funds and exchange traded funds so far in August. That's the
fourth highest pullback ever, according to TrimTabs data. In June, investors
took out $69.1 billion -- the highest on record.
#3
The sell-off of U.S. Treasuries is being led by foreigners. In
particular, China and Japan have been
particularly aggressive in selling off bonds...
China and Japan led an exodus from U.S.
Treasuries in June after the first signals the U.S. central bank was preparing
to wind back its stimulus, with data showing they accounted for almost all of a
record $40.8 billion of net foreign selling of Treasuries.
The sales were part of $66.9 billion of net
sales by foreigners of long-term U.S. securities in June, a fifth straight
month of outflows and the largest since August 2007, U.S. Treasury Department
data showed on Thursday.
China, the largest foreign creditor, reduced
its Treasury holdings to $1.2758 trillion, and Japan trimmed its holdings for a
third straight month to $1.0834 trillion. Combined, they accounted for about
$40 billion in net Treasury outflows.
#4
Thanks to rapidly rising bond yields, some of the largest exchange-traded bond
funds are getting
absolutely hammered right now...
• The $18 billion iShares iBoxx $ Investment
Grade Corporate Bond fund (ticker: LQD) has fallen 7.94% since May 2, according
to S&P Capital IQ. That's including reinvested interest from the fund's
bond holdings.
• The 3.7 billion iShares Barclays 20+ Year
Treasury Bond (TLT) has plunged 15.9% the same period. Longer-term bonds
typically get hit harder when rates rise than shorter-term bonds. For example,
the iShares Barclays 3-7 Year Treasury Bond fund (IEI) has fallen 3.2% since
May 2.
• PowerShares Emerging Markets Sovereign
Debt (PCY), which invests in government bonds issued in developing countries,
has fallen 12.7%. The fund has $1.8 billion in assets.
#5
In recent weeks we have witnessed the largest cluster of
Hindenburg Omens that we have seen since prior to the last financial
crisis.
#6
George Soros has bet a tremendous amount of
money that the S&P 500 is going to be heading down.
#7
At this point, the S&P 500 has fallen for 9 out of the last 11 trading
days.
#8
Margin debt has spiked to extremely dangerous
levels. This is a pattern that we also saw just before the last
financial crash and just before the dotcom bubble burst...
The exuberant mood comes as margin debt on
Wall Street hovers near $377bn, just below its all-time high and well above
peaks before the dotcom crash and the Lehman crisis.
“Investors have rarely been more levered
than today,” said Deutsche Bank, warning that the spike in margin debt is a
“red flag” and should be watched closely.
#9
The growth rate of new commercial bank loans and leases is now the slowest that it has
been since the end of the last financial crisis.
#10
According to a shocking new report, Fannie Mae and Freddie Mac are masking
"billions of dollars" in
losses. Will they need to be bailed out again just like they were during
the last financial crisis?
#11
Wal-Mart reported very disappointing sales numbers for the second
quarter. Sales at stores open at least a year were down 0.3%. This is a
continuation of a trend that has been building for
years.
#12
U.S. consumer bankruptcies just experienced their largest quarterly increase in three years.
#13
The velocity of money in the United States has hit another stunning new low.
#14
The massive civil unrest in Egypt threatens to disrupt the
steady flow of oil out of the Middle East...
After last week’s bloody crackdown by the
Egyptian army, fears of a disruption of oil supplies to the West have boosted
the oil price. Brent crude prices were propelled
to a four-month high of $111.23 on Thursday. If the turmoil gets worse – or
unrest spreads to other countries – the risk premium currently factored into
the price of crude is likely to increase further.
#15
European stocks just experienced their biggest
decline in six weeks.
#16
The Japanese national debt recently crossed the quadrillion yen mark, and many are
expecting the Japanese financial system to start melting down at any time.
#17
In Indonesia, the stock market is "cratering".
#18
In India, the yield on their 10 year government bonds has skyrocketed from 7.1
percent in May to 9.25 percent now.
As
the coming months unfold, keep a close eye on the "too big to fail"
banks both in Europe and in the United States. When the next great
financial crisis strikes, they will play a starring role once again. They
have been incredibly reckless, and as James Rickards told Greg Hunter during an
interview the other day, we are in much worse shape to deal with a major
banking crisis than we were back in 2008...
What’s going to cause the next crisis?
Rickards says, “The problem in 2008 was too-big-to-fail banks. Well,
those banks are now bigger. Their derivative books are bigger. In
other words, everything that was wrong in 2008 is worse today.” Rickards goes
on to warn, “The last time, in 2008 when the crisis started, the Fed’s balance
sheet was $800 billion. Today, the Fed’s balance sheet is $3.3 trillion
and increasing at $1 trillion a year.” Rickards contends, “You’re going
to have a banking crisis worse than the last one because the banking system is
bigger without the resources because the Fed is tapped out.” As far as
the Fed ending the money printing, Rickards predicts, “My view is they
won’t. The economy is fundamentally weak. We have 50 million on
food stamps, 24 million unemployed and 11 million on disability, and all these
numbers are going up.”
We
never even came close to recovering from the last financial crisis and the last
recession.
Now
the next major wave of the economic collapse is coming up quickly.
I
hope that you are taking this time to prepare for the approaching storm,
because it is going to be very painful.
Mark Hulbert
Dangerous
divergences
Two indicators based on market divergences are flashing caution signs — or
worse.
What
Great Rotation?
Will Corrupt Obama Be Held
Accountable?
By FLOYD BROWN, Chief Political Analyst
|
|
As
a candidate, Barack Obama offered to govern as the most "open
and honest" administration in history. Sadly, we've learned at great
expense that these empty words are just another example of the corruption of
Obama's tenure.
I was reminded again of Obama's dishonest and fraudulent conduct last week when
the Justice department released the details of its case against John C. Beale.
Beale is the disgraced deputy assistant administrator in the Office of Air and
Radiation at the EPA. He stands accused of stealing $886,186 between 2000 and
2013. You see, Beale had schemed a way to pay himself the nearly one million he
stole in the form of salary bonuses.
Beale most recently worked for Gina McCarthy as her top deputy. This is the
same Gina McCarthy who was recently promoted by Obama to run the entire EPA.
But you have to ask yourself why McCarthy wasn't held accountable for her
subordinate's criminal activity. Is it now standard operating procedure to
promote managers who can't spot theft and crime right under their noses?
Click here to continue reading...
33
Shocking Facts Which Show How Badly The Economy Has Tanked Since Obama Became
President
Barack
Obama has been running around the country taking credit for an "economic
recovery", but the truth is that things have not gotten
better under Obama. Compared to when he first took office, a smaller
percentage of the working age population is employed, the quality of our jobs
has declined substantially and the middle class has been absolutely shredded. If we are really in
the middle of an "economic recovery", why is the homeownership rate
the lowest that it has been in 18 years? Why has the number of Americans
on food stamps increased by nearly 50 percent while Obama has been in the White
House? Why has the national debt gotten more than 6 trillion dollars
larger during the Obama era? Obama should not be "taking
credit" for anything when it comes to the economy. In fact, he
should be deeply apologizing to the American people. (Read More....)
And of course Obama is being delusional if he thinks that he is actually
"running the economy". The Federal Reserve has far more power over the
U.S. economy and the U.S. financial system than he does. But the
mainstream media loves to fixate on the presidency, so presidents always get
far too much credit or far too much blame for economic conditions.
But
if you do want to focus on "the change" that has taken place since
Barack Obama entered the White House, there is no way in the world that you can
claim that things have actually gotten better during that time frame. The
cold, hard reality of the matter is that the U.S. economy has been steadily
declining for over a decade, and this decline has continued
while Obama has been living at 1600 Pennsylvania Avenue.
It
is getting very tiring listening to Obama supporters try to claim that Obama
has improved the economy. That is a false claim that is not even remotely
close to reality. The following are 33 shocking facts which show how
badly the U.S. economy has tanked since Obama became president...
#1
When Barack Obama entered the White House, 60.6 percent of working age Americans had a job.
Today, only 58.7 percent of working age Americans
have a job.
#2
Since Obama has been president, seven out of every eight
jobs that have been "created" in the U.S. economy have been
part-time jobs.
#3
The number of full-time workers in the United States is still nearly 6 million below the old record that was set back in
2007.
#4
It is hard to believe, but an astounding 53 percent of all American workers now make less than
$30,000 a year.
#5 40 percent of all workers in the United States actually
make less than what a full-time minimum wage worker made back in 1968.
#6
When the Obama era began, the average duration of unemployment in this country
was 19.8 weeks. Today, it is 36.6 weeks.
#7
During the first four years of Obama, the number of Americans "not in the
labor force" soared by an astounding 8,332,000. That far exceeds any
previous four year total.
#8
According to the U.S. Census Bureau,
the middle class is taking home a smaller share of the overall income pie than
has ever been recorded before.
#9
When Obama was elected, the homeownership rate in the United States was 67.5 percent. Today, it is 65.0 percent. That is the lowest
that it has been in 18 years.
#10
When Obama entered the White House, the mortgage delinquency rate was 7.85
percent. Today, it is 9.72 percent.
#11
In 2008, the U.S. trade deficit with China was 268 billion dollars. Last year, it was 315 billion dollars.
#12
When Obama first became president, 12.5 million Americans had manufacturing
jobs. Today, only 11.9 million Americans have manufacturing
jobs.
#13
Median household income in America has fallen for four consecutive years. Overall, it
has declined by over $4000 during that time span.
#14
The poverty rate has shot up to 16.1 percent. That is actually
higher than when the War on Poverty began in 1965.
#15
During Obama's first term, the number of Americans on food stamps increased by an average of
about 11,000 per day.
#16
When Barack Obama entered the White House, there were about 32 million Americans
on food stamps. Today, there are more than 47 million Americans on
food stamps.
#17
At this point, more than a million public
school students in the United States are homeless. This is the first time
that has ever happened in our history. That number has risen by 57 percent since the 2006-2007 school year.
#18
When Barack Obama took office, the average price of a gallon of regular
gasoline was $1.85. Today, it is $3.53.
#19
Electricity bills in the United States have risen faster than the overall rate
of inflation for five years in a row.
#20
Health insurance costs have risen by 29 percent since Barack Obama
became president, and Obamacare is going to make things far worse.
#21
The United States has fallen in the global economic competitiveness rankings
compiled by the World Economic Forum for four years in a row.
#22
According to economist Tim Kane, the following is how
the number of startup jobs per 1000 Americans breaks down by presidential
administration...
Bush
Sr.: 11.3
Clinton:
11.2
Bush
Jr.: 10.8
Obama:
7.8
#23
In 2008, that total amount of student loan debt in this country was 440 billion
dollars. At this point, it has shot up to about a trillion dollars.
#24
According to one recent survey, 76 percent of all Americans are living
paycheck to paycheck.
#25
During Obama's first term, the number of Americans collecting federal
disability insurance rose by more than 18 percent.
#26
The total amount of money that the federal government gives directly to the
American people has grown by 32 percent since Barack Obama
became president.
#27
According to the Survey of Income and Program Participation conducted by the
U.S. Census, well over 100 million Americans are
enrolled in at least one welfare program run by the federal government.
#28
As I wrote about the other day, American households are now receiving
more money directly from the federal government than
they are paying to the government in taxes.
#29
Under Barack Obama, the velocity of money (a very important indicator of
economic health) has plunged to a post-World War II low.
#30
At the end of 2008, the Federal Reserve held $475.9 billion worth of U.S.
Treasury bonds. Today, Fed holdings of U.S. Treasury bonds have
skyrocketed past the 2 trillion dollar mark.
#31
When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent. Today, it
is up to 101 percent.
#32
During Obama's first term, the federal government accumulated more new debt
than it did under the first 42 U.S
presidents combined.
#33
When you break it down, the amount of new debt accumulated by the U.S.
government during Obama's first term comes to approximately $50,521 for every single household in the
United States. Are you able to pay your share?
Buchanan:
'Whites Are Only Group You Can Discriminate Against Legally in America Now'...
Cops:
Thief Vandalizes Church, Steals School Supplies For Kids...
'Thug
Culture Killed Chris Lane'...
SUMMER
2013: 2,899 Record cold temps vs 667 record warm temps...
LAND
OF LINCOLN: State Offers Workers $9/Hour to Sign People up for Obamacare...
NSA
COLLECTED 1000S OF INTERNET COMMUNICATIONS WITH NO TERROR CONNECTION....
CAN
SPY ON 75% OF ONLINE TRAFFIC...
*Retains
content of emails between citizens...
*Domestic phone calls made via Internet...
'Homeland
Security' tests face-scanning BOSS...
Local
Cops to Scan Crowds...
Company
Posts Ad on CRAISGLIST Seeking 'Surveillance Role Players'...
New
Zealand Passes Law Allowing Domestic Spying...
Malaysia
Seeks to Expand Spying Powers...
GALLUP:
Unemployment Spikes to 8.9%...
18 month high...
'Who
will Obama identify with on this one?' { That’s an easy one, even without
the hoody … If wobama had a son he’d look like the typical, uncivilized,
murderous nigger! }
MURDER
SHOCKS HEARTLAND...
COPS:
'Bored' Black Teens Kill White Baseball Player 'For Fun'...
'I
Pulled The Trigger!'
Killers
should 'rot in hell'...
Racist
Tweets...
Australian
tourists urged to boycott USA...
White
House spokesman 'not familiar with' murder...
University
dumps spouses from health care coverage...
UPS
to drop 15,000 husbands and wives...
40% of companies
alter insurance coverage to avoid new health care tax...
Firms
turn part-time...
HHS
to Host Brown Bag Lunches to Explain Obamacare to Employees...
Monday, August 26, 2013
The Beginning of the End:
Rising Interest Rates
By Harry S. Dent Jr., Senior Editor, Survive & Prosper
Dear Al,
Last
Friday, August 23, this shocking number hit the newswires:
New
home sales fell by 13.4%, the worst decline since May 2010.
This
comes after July’s existing home sales increased.
While
this report shocked everyone else, we were not in the least bit surprised. To
us, new home sales are the red herring of the so-called “housing recovery.”
Industry
experts, commentators, builders and average Joes have been watching this number
move up with growing delight. “Things are getting better. Thank God!”
But
we didn’t view the number that way. To us, the only thing driving existing home
sales were speculators… and they’re NOT the people real estate needs to truly
find its legs again…
Look
at this chart…
To
risk sounding like a looped recording, we’ve argued throughout 2013 that the
rise in home prices is bogus. That it’s just another impact of the endless
Quantitative Easing (QE) and money-printing lunacy.
These
reckless policies and practices have kept the economy from melting down again
since 2008, yes, but it’s done us no favors. It’s only managed to create a
measly 2% real growth in the economy.
About
$2 trillion in monetary and fiscal deficits and all we get is 2% growth and 1%
to 2% inflation?! That’s pathetic. It’s a sign of how weak the demographic
fundamentals are… and how great the pressure is from unprecedented debt at all
levels (government, financial, consumer and business).
Regardless,
all that QE money must go somewhere. It’s not going into consumers’ pockets.
Businesses aren’t using it to increase lending. Instead, financial
institutions, from banks to pension funds to hedge funds, are using that money
to speculate.
And
they’ve been focusing that speculation on the real-estate market, existing
homes in particular. Their modus operandi: Buy homes in foreclosure or in short
sales… especially those near or below construction costs… and then flip them or
rent them out for a positive cash flow.
So
real-estate prices have been rising. And people have been getting more and more
excited.
But
ask yourself this: How long can this last if real buyers aren’t coming into the
market?
The
answer is simple: Not very long. And now, with steadily rising interest rates,
we’re beginning to see the cracks we already knew were there…
Long-term
interest rates have risen from 1.38% on the 10-year Treasury bond to 2.92%
recently.
Thirty-year
mortgage rates are now up from 3.4% to 4.7% and rising.
The
average mortgage payment has gone from $566 to $766. That’s a 35% increase.
And
this is just the beginning.
We
estimate that the 10-year Treasury bond is headed to 3.8% or higher in the next
six to nine months. That would raise mortgage rates to near 6%, making the average
payment as high as $1,000.
What
do you think that’s going to do to the housing “recovery?”
You
got it. It’s going to knock all the wind out of it.
Then
there’s this: Mortgage applications for purchases have been flat since 2010.
That means the young families who buy homes to actually live in and raise their
kids in aren’t out on the real-estate dance floor.
All
of this tells us – and has told us for months now – that this housing
“recovery” is utter B.S. It’s just another perversion from the endless stimulus…
another bubble to burst again… just like commodities have done and stocks will
do (likely by early 2014).
If
home sales are beginning to slow due to rising mortgage rates and diminishing
speculation, which we believe is happening, then this is the beginning of the
end.
The
Fed is losing control over longer-term interest rates as investors anticipate
the withdrawal of QE. With the printing press effectively out of the way, we’ll
quickly fall back into reality, where home prices crumble and stock valuations
deteriorate.
We
have been waiting for this sign.
It
says that the economy is likely to slow ahead and stocks are likely to peak by
early 2014.
Are
you ready for the next great crash?
Donald
Trump Hits Back on Investment School $40M Suit
By LINZIE JANIS, GERRY WAGSCHAL and SHARIAR
RAHMANZADEH
| Good Morning America
Error! Unknown switch argument.Play Video
Trump Calls Attorney General a
'Political Hack'
2:47
Donald Trump Hits Back on Investment …
New York Attorney General Eric Schneiderman has filed a $40
million civil suit against Donald Trump, accusing "The Apprentice" TV star
of defrauding thousands of people through Trump University by selling expensive iseminars based on
false promises. Trump fired back at Schneiderman today, calling him
"political hack from beginning to end."
"We
have a school that's a terrific school. It did a fantastic job and I've never
even heard of this, it had a 98 percent approval rating from students,"
Trump told George Stephanopoulos on "Good Morning America"
this morning.
The
suit, filed Saturday, alleges Trump and other defendants operated an elaborate
bait and switch, even advising some students to raise their credit card limits
for the next level of programs. Schneiderman claims the real estate mogul helped
run a phony university that persuaded 5,000 people that they would become rich
using real estate-investing techniques used by Trump himself. Instead, the
lawsuit says, they were steered into useless seminars and failed to deliver
promised apprenticeships.
"The
complaint speaks for itself," Schneiderman told ABC News. "It was a
lie from beginning to end. The only person who is guilty of a cheap publicity
is America's leading expert on cheap publicity stunts -- Donald Trump."
Schneiderman
is suing the program, Trump as the university chairman, and the former
president of the university in state Supreme Court in Manhattan. He accuses
them of engaging in persistent fraud, illegal and deceptive conduct and
violating federal consumer protection law. The $40 million he seeks is mostly
to pay restitution to consumers. The suit covers complaints dating to 2005
through 2011.
"They
were fleeced. They were taken," Schneiderman says of the people who
enrolled in Trump's program. "They were convinced by very persuasive
motivational speakers and videos of Trump that they were going learn how to
make money in real estate. They didn't get anything."
Trump
says the lawsuit has no merit and he blasted Schneiderman.
"He
comes up to my office looking for campaign contributions. He tells me lots of
unflattering things about Obama. He tells me lots of unflattering things about
Gov. Cuomo," Trump said of Schneiderman. "He was very upset with the
fact that we didn't help him. He thought we should have helped him much
more."
Schneiderman
responded, saying Trump is trying to distract from the merits of this case.
"Mr.
Trump supported someone against me in 2010. After I won the Democratic primary,
he gave me one check. That was it," Schneiderman said in an appearance on
CNBC today. "I wasn't asking him for campaign contributions."
State
Board of Elections records show Trump contributed $12,500 to Schneiderman in
October 2010, when Schneiderman was running for attorney general.
State
Education Department officials had told Trump to change the name of Trump University, saying it lacked a license
and didn't meet the legal definitions of a university. In 2010, Trump
University was renamed the Trump Entrepreneur Institute.
Bob
Guillo, 73, borrowed $35,000 to pay for the seminars and a retreat to help his
son switch careers.
"They
promised me that I would be one of the insiders. That whenever Trump put up
condominium or any other type of building in the United States that we would
get first crack at getting into it," Guillo said.
Guillo
says he never got that opportunity and the closest he came to Trump was getting
his picture taken in front of a life-size poster of the TV reality star.
"He
took my self-respect and he embarrassed me," Guillo added.
Scheiderman
said the three-day seminars didn't, as promised, teach consumers everything
they needed to know about real estate.
Kevin Scott said he was also "humiliated" by
Trump University. Scott attended a free Trump seminar in May 2008 and
ultimately enrolled in a $25,000 mentorship program, which "overpromised
and undelivered," Scott claims, when the "hard money lenders"
the program advertised did not materialize.
"They
had people built up that were interested and motivated and excited to take part
in the program, and the return on the investment was certainly not there. It
was quite the opposite," Scott told ABC News. "It was a huge,
devastating blow."
Scott
said he was forced to move out of his childhood home because of the massive
debt brought on by Trump University.
"Donald
Trump, you brought this on me," Scott told ABC News. "I bought into
your program and I did all the right things. And you guys didn't deliver. ....
It's time for you to step up and pay us back. Repay the money we paid to you
and let's settle this."
The
lawsuit claims many of the wannabe moguls were unable to land even one real
estate deal and were left far worse off than before the lessons, facing
thousands of dollars in debt for the seminar program once billed as a top
quality university with Trump's "hand-picked" instructors. Trump did
not pick the university's instructors and had not created the curriculums for
any of its courses, the lawsuit alleges.
"He's
totally wrong. I looked at every resume. I met with some people. I didn't meet
with everybody. It's not my main business," Trump said. "We had a
wonderful school with a fantastic approval rating. If you go to the Wharton
School of Finance or if you got to Harvard, they don't have a 98 percent
approval rating."
Trump
also had a problem with the timing of the lawsuit.
"Who
ever heard of a government agency bringing a lawsuit on a Saturday afternoon?
He's been looking into this thing for two years," trump said. "He
brings a lawsuit on Saturday afternoon right after he meets with President
Obama. I think maybe it's a mini-IRS."
Schneiderman
addressed the allegations as another diversion by Trump and pointed to the
"overwhelming" evidence in this case.
"You
can't run a bait-and-switch defraud 5,000 people out of $40 million and then
distract things by saying things like, 'Oh, this is a conspiracy between me and
President Obama,' or 'I was soliciting money from people who had some
affiliation with him. The case speaks for itself. The documentary evidence is
overwhelming," the attorney general said on CNBC.
"We're
not going to sit down and let him make false accusations and let him lie about
what the case is about. This is a classic bait -and switch scheme. You have to
sent a message: no matter how powerful people are, aggressive they are about
suing people who sue them -- which is something they does frequently -- they're
not above the law. One set of rules for everyone. That's an important message
to send."
Trump
said he had the opportunity to settle the suit but decided against it despite
the bad publicity.
"I
don't mind the bad publicity. Who gets more bad publicity than me anyways? I'll
take this. No, I don't want to settle this," he said.
The
Associated Press contributed to this report.
DR BeN
DaRWiN...
Posted by: williambanzai7
Post date: 08/23/2013 - And Keynesian Evolution...
DR
BeN DaRWiN...
Submitted by williambanzai7 on
08/23/2013 17:25 -0400
MiCRoSoFT
TiTaNiC...
Posted by: williambanzai7
Post date: 08/23/2013 - Oh it was said...
MiCRoSoFT
TiTaNiC...
Submitted by williambanzai7 on
08/23/2013 09:41 -0400
NASDAQ Posted by : williambanzai7
Post date: 08/22/2013 - Please standby...
NASDAQ
Submitted by williambanzai7 on
08/22/2013 15:55 -0400
NSA LOVINT Posted by : williambanzai7
Post date: 08/24/2013 - Aren't you LOVINT it?
NSA
LOVINT
Submitted by williambanzai7 on
08/24/2013 14:02 -0400
RaMBoZo
BLoWBaCK...
Posted by: williambanzai7
Post date: 08/27/2013 - Chess is a violent
sport...We've all heard this record before... (here, have another freedom lie)
RaMBoZo
BLoWBaCK...
Submitted by williambanzai7 on
08/27/2013 14:12 -0400
.
.
.
.
.
Peter
King want's to give you a blow job.
.
Tony
Blair needs to shut his fucking pie hole, Pronto!
.
.
.
.
The
US is prepping for war
Their
actions we all should abhor
A
nation now dies
As
Freedom now lies
We've
all heard this record before
The
Limerick King
.
End
of Hope, Original painting by George Grosz
WB7:
I have a question. How many of those thousands and thousands of highly skilled
analysts following FISA procedures metiliculously, are just bored and surfin
porn?
U.S. missing 7.4 million jobs, economist calculates
Oil futures end above $109 at 18-month high
“Limited
Freedom of Speech” For Japanese Bureaucrats To Cover Up The “Dire Fiscal
Condition”
Posted by: testosteronepit
Post date: 08/24/2013 - "Without realistic
figures, a real debate on fiscal reform can’t begin”
Black or
White? Posted
by: Bruce
Krasting Post date: 08/24/2013 - How long
will it take for the Black side of the taper to come back home?
The
U.S. Has Repeatedly Falsely Accused Others of Chemical and Biological Weapons
Use Posted by
: George Washington Post date: 08/27/2013 - But the U.S., Britain and Israel have Used
Chemical Weapons within the Last 10 Years
Assad:
Failure Awaits the USA
Posted by: Pivotfarm
Post date: 08/27/2013 - Syrian President Bachar
al-Assad has warned President Obama not to take military action against his
country since: “Failure awaits the United States as in all previous wars it has
unleashed, starting...
Americans
Would Rather Get a Root Canal or a Colonoscopy than Launch War Against Syria Posted by : George Washington Post date: 08/26/2013 - Americans Are Sick of War
Syriana:
Official Tells CNN US Could Strike Within Hours; Russia Warns Against Attack
Submitted by Tyler
Durden on 08/26/2013 - Breaking911 @Breaking911
WAR DRUMS: An official tells @CNN The U.S. could strike #Syria within
hours- @PoliticaILine -Israelis
scramble for gas masks- @TimesofIsrael
15
Signs That Obama Has Already Made The Decision To Go To War With Syria
The Obama administration seems absolutely determined to
help radical Islamic jihadists that have beheaded Christians, that have massacred entire
Christian villages, and that have pledged loyalty to al-Qaeda
topple the Assad regime and take over Syria. Yes, the Assad regime is
horrible, but if these jihadist lunatics take control it will destabilize the
entire region, make the prospect of a major regional war much more probable,
and plunge the entire nation of Syria into a complete and utter
nightmare. It has been estimated that somewhere around 100,000 people
have already been killed in the civil war in Syria, and now it looks like the
U.S. military and the rest of NATO plan to become directly involved in the
conflict. The Obama administration is actually considering an attack on
Syria even though the American people are overwhelmingly against it, Obama does
not have Congressional approval to start a war, and he will never get approval
for military action from the UN because it will be blocked by Russia. This is setting up to
become a colossal foreign policy disaster for the United States. (Read More....)
Putin
Responds To Syria Escalation: May "Reinforce Naval Grouping In
Mediterranean" Following US Buildup
Submitted by Tyler
Durden on 08/24/2013 - 13:08
The
Human Race Is Dying: DNA Degeneration Would Eventually Lead To The Total
Extinction Of Humanity { Not to
worry … remember … just decades at best which makes human mutancy as irrelevant
as truancy! }
The
human race is dying. It certainly won’t happen this year or even this
decade, but the steady degeneration of human DNA would eventually lead to the
total extinction of humanity given enough time. The reason that we are
heading toward extinction is the increasing number of mutations that are being
passed down from generation to generation. According to Dr. John Sanford
of Cornell University, every one of us already carries tens of thousands of
harmful mutations, and each of us will pass on approximately 100 new mutations
to future generations. Humanity is degenerating at an accelerating pace,
and at some point the number of mutations will become so great that we will no
longer be able to produce viable offspring. This is not going to happen
in the immediate future, but already signs of DNA degeneration are all around
us. Despite all of our advanced technology, genetically-related
diseases are absolutely exploding. Our bodies are weak and frail, and
with each passing generation it is getting even worse.
Most
people don’t understand this. Most average people on the street just
assume that the human race will be able to go on indefinitely.
But
the geneticists that carefully (Read More....)
But the geneticists that carefully study these things understand this
stuff. Each generation is successively becoming more “mutant”, and if
given a long enough period of time it would mean our end. Dr. Sanford
puts it this way…
“We are a perishing people living in a dying
world.”
In school and in the movies, we are taught that
mutants are “cool” and that mutations can be a very good thing. But that
simply is not solid science. The following is how Alex Williams describes the incredibly damaging role
that mutations play in our biology…
However, directly contradicting mutation’s
central role in life’s diversity, we have seen growing experimental evidence
that mutations destroy life. In medical circles, mutations are universally
regarded as deleterious. They are a fundamental cause of ageing, cancer and
infectious diseases.
Even among evolutionary apologists who
search for examples of mutations that are beneficial, the best they can do is
to cite damaging mutations that have beneficial side effects (e.g. sickle-cell
trait, a 32-base-pair deletion in a human chromosome that confers HIV
resistance to homozygotes and delays AIDS onset in heterozygotes, CCR5–delta32
mutation, animal melanism, and stickleback pelvic spine suppression). Such
results are not at all surprising in the light of the discovery that DNA
undergoes up to a million damage and repair events per cell per day.
So
no, we are not going to “evolve” into bigger and better creatures.
Instead, the human race is steadily breaking down and our time is running out.
In
essence, the blueprint of human life is being systematically destroyed, and
there is not a thing we can do to even significantly slow it down. The
following is from a paper by Gerald H.
McKibben and Everett C. McKibben…
Geneticists have long
worried about the impact of mutations on the human population, and that at a
rate of one deleterious mutation per person per generation, genetic
deterioration would result. Earlier reports were based on estimates of mutation
rates considerable lower than what we now know to be the case. Findings going
back to 2002 show that the human mutation rate is at least 100 mistakes
(misspellings) per person per generation. Some scientists believe the rate is
closer to 300.
Even a rate of 100 has profound
implications, and the mutation rate is itself increasing. Furthermore, most, if
not all, mutations in the human genome must be deleterious. “And nothing
can reverse the damage that has been done during our own generation, even if
further mutations could be stopped.” (P. 40). It would appear that the process
is an irreversible downward spiral that will end in “mutational meltdown”.
So
how long do we have until “mutational meltdown”?
Well,
according to McKibben and McKibben, Dr. Sanford estimates that the human race
has a total lifespan of approximately 6,000 years…
The author cites research showing that the
human race is currently degenerating at 1 – 2 % per generation due to
accumulation of mutations. At a 1% decline in fitness per generation, there is
a sharp reduction in fitness after 300 generations (about 6,000 years). One of
the most interesting revelations in Genetic Entropy is Dr. Sanford’s
and other workers’ analysis of the Biblical account of life expectancies. In a
statistical regression analysis of declining life spans since Noah (lived 950
years), after 32 centuries since Noah the life expectancy has declined to about
70. The remarkable aspect is that this curve, which shows a sharp drop-off
after Noah and a more gradual decline about 1,000 years ago, is that it is very
similar to theoretical curves presented by other researchers that show genetic
degeneration. Either Moses faithfully recorded the events (and ages) recorded
in Genesis, or he was a skilled statistician who made up data with a remarkable
fit to an exponential curve!
Other
scientists put the lifespan of the human race significantly higher, but without
a doubt there is a growing awareness in the scientific community that the human
race is slowly heading toward extinction.
This
is how Alex Williams puts it…
“Like rust eating away the steel in a
bridge, mutations are eating away our genomes and there is nothing we can do to
stop them.”
Dr.
Sanford makes the same point a little bit more eloquently…
“The extinction on the human genome appears
to be just as certain and deterministic as the extinction of stars, the death
of organisms, and the heat death of the universe.”
For
more on this, check out the excerpt from a video interview with Dr. Sanford posted below…
So
what do you think?
Is
time running out for the human race or do we have plenty of time left?
Please
feel free to share what you think by posting a comment below…
About
the author: Michael T. Snyder is a former
Washington D.C. attorney who now publishes The
Truth. His new thriller entitled “The Beginning Of The End”
is now available on Amazon.com.
BanZai7's
WoRLD oF CoNSPiRaCY 3.0
Posted by : williambanzai7
Post date: 08/26/2013 - Infiltrate these thoughts Sunstein!
BanZai7's
WoRLD oF CoNSPiRaCY 3.0
Submitted by williambanzai7 on
08/26/2013 16:17 -0400
Following
the announcement of Thoughtstapo Captain Major Cass Sunstein's appointment to
Jim Crapper's Magical Mystery NSA Tour,
I
thought it would be appropriate to release an annual update of Banzai7's WoRLD
oF CoNSpIRACY...
Infiltrate
these thoughts Sunstein!
German
Government CONFIRMS: Key Entities Not To Use Windows 8 with TPM 2.0, Fearing
Control by ‘Third Parties’ (Such As NSA) Posted by: testosteronepit
Post date: 08/26/2013 - German Federal Office for
Security in Information Technology: "Loss of Control Over the Operating
System and the Hardware"
Is
Fukushima Radiation Contaminating Tuna, Salmon and Herring On the West Coast of
North America?
Posted by: George Washington Post date: 08/26/2013 - Demand that Fish Be Tested for Radiation (Or
Buy a Geiger Counter)
Western
Warplanes Begin Arriving In Cyprus
Submitted by Tyler
Durden on 08/26/2013 – { Come on! Only a fool would believe Assad/the
Syrian Government would be so foolish as make wobama/eu/west wet war dreams
come true! This is particularly so in light of wobama/eu/west/israeli failures
on all fronts, viz., economics, finance (bankruptcies, including national
bankruptcies), politics, geopolitics, Putin (not penis) envy (the west/israel
however have no balls but are as u.s. bullies), etc.. Yellow cake say wobama
westerners … let them eat yellow cake and b***s*** too! }
Remember
what the 2012 leaked
Stratfor memo said about the focal point of western airborne power? Here it
is again: "Syrian air defenses are a lot more robust and are much
denser, esp around Damascus and on the borders with Israel, Turkey. THey are
most worried about mobile air defenses, particularly the SA-17s that they've
been getting recently. It's still a doable mission, it's just not an easy one. The
main base they would use is Cyprus, hands down. Brits and FRench would fly out
of there. They kept stressing how much is stored at Cyprus and
how much recce comes out of there. The group was split on whether Turkey would
be involved, but said Turkey would be pretty critical to the mission to base
stuff out of there. EVen if Turkey had a poltiical problem with Cyprus, they
said there is no way the Brits and the FRench wouldn't use Cyprus as their main
air force base." (sic) Well, it has begun. Guardian
reports that "Warplanes and military transporters have
begun arriving at Britain's Akrotiri airbase on Cyprus, less than 100 miles
from the Syrian coast, in a sign of increasing preparations for a military
strike against the Assad regime in Syria."
It
Is Illegal To Feed The Homeless In Cities All Over The United States
What
would you do if a police officer threatened to arrest you for trying to share a
sandwich with a desperately hungry homeless woman that really needed it?
Such a notion sounds absolutely bizarre, but this is actually happening in
major cities all over the United States. More than 50 large U.S. cities
have adopted "anti-camping" or "anti-food sharing" laws in
recent years, and in many of these cities the police are strictly enforcing
these laws. Sometimes the goal appears to be to get the homeless people
to go away. Apparently the heartless politicians that are passing these
laws believe that if the homeless can't get any more free food and if they keep
getting thrown into prison for "illegal camping" they will eventually
decide to go somewhere else where they won't be hassled so much. This is
yet another example of how heartless our society is becoming. The middle
class is being absolutely shredded and
poverty is absolutely exploding, but meanwhile the hearts of many Americans are
growing very cold. If this continues, what is the future of America going
to look like? (Read More....)
Public
School Is One Of The Most Dangerous Places You Could Possibly Put Your Children
Would you willingly send your kids into a war zone?
No way. Would you willingly send your children into a federal
prison? Of course not. So why would you send them to a public
school? In America today, kids are being killed on the way to school, at
school and on the way home from school. Mass shootings are becoming
increasingly common, the influence of gangs in our schools is on the rise and
sometimes the biggest threat of danger comes from the teachers and the security
officials that are supposed to be there to “protect” our children. But
violence is not the only thing for parents to be concerned about when it comes
to our public schools. The truth is that public schools in the United
States have become government indoctrination centers,
and many teachers are constantly looking for opportunities to inject as much
propaganda as they possibly can into classroom instruction. After a dozen
years of this, many students leave high school virtually brainwashed and nearly
incapable of thinking for themselves. This is one of the reasons why so
many high school students seem like they are dumb as a rock. Our young people spend most of
their young lives in prison camps where they are constantly being told what to
think instead of being trained how to think. Why would anyone want to
subject their children to that? (Read More.....)
72
Types Of Americans That Are Considered “Potential Terrorists” In Official
Government Documents
Are
you a conservative, a libertarian, a Christian or a gun owner? Are you
opposed to abortion, globalism, Communism, illegal immigration, the United
Nations or the New World Order? Do you believe in conspiracy theories, do
you believe that we are living in the “end times” or do you ever visit
alternative news websites (such as this one)? If you answered yes to any
of those questions, you are a “potential terrorist” according to official U.S.
government documents. At one time, the term “terrorist” was used very narrowly.
The government applied that label to people like Osama bin Laden and other
Islamic jihadists. But now the Obama administration is removing all
references to Islam from terror training materials, and instead the term
“terrorist” is being applied to large groups of American citizens. And if
you are a “terrorist”, that means that you have no rights and
the government can treat you just like it treats the terrorists that are being
held at Guantanamo Bay. So if you belong to a group of people that is now
being referred to as “potential terrorists”, please (Read More....)
Below is a list of 72 types of Americans that are considered to be
“extremists” and “potential terrorists” in official U.S. government
documents. To see the original source document for each point, just click
on the link. As you can see, this list covers most of the country…
1. Those that talk about
“individual liberties”
2. Those that advocate for states’
rights
3. Those that want “to
make the world a better place”
4. “The
colonists who sought to free themselves from British rule”
5. Those that are
interested in “defeating the Communists”
8. Anyone
that possesses an “intolerance toward
other religions”
9. Those
that “take action to fight against the exploitation of the environment and/or animals”
10. “Anti-Gay”
11. “Anti-Immigrant”
12. “Anti-Muslim”
14. “Opposition
to equal rights for gays and lesbians”
15. Members of the
Family Research Council
16. Members of
the American Family Association
18. Members
of the American Border Patrol/American Patrol
19. Members of
the Federation for American Immigration Reform
20. Members of
the Tennessee Freedom Coalition
21. Members of the
Christian Action Network
22. Anyone
that is “opposed to the New World Order”
23. Anyone
that is engaged in “conspiracy theorizing”
24. Anyone that is
opposed to Agenda 21
25. Anyone that
is concerned about FEMA camps
26. Anyone
that “fears impending gun control or weapons confiscations”
28. The sovereign citizen
movement
29. Those
that “don’t think they should have to pay taxes”
30. Anyone that
“complains about bias”
31. Anyone
that “believes in government conspiracies to the point of paranoia”
32. Anyone
that “is frustrated with mainstream ideologies”
33. Anyone
that “visits extremist websites/blogs”
34. Anyone
that “establishes website/blog to display extremist views”
35. Anyone
that “attends rallies for extremist causes”
36. Anyone
that “exhibits extreme religious intolerance”
37. Anyone
that “is personally connected with a grievance”
38. Anyone that
“suddenly acquires weapons”
39. Anyone
that “organizes protests inspired by extremist ideology”
40. “Militia or
unorganized militia”
41. “General right-wing
extremist”
42. Citizens
that have “bumper stickers” that are patriotic or anti-U.N.
43. Those that refer
to an “Army of God”
44. Those
that are “fiercely nationalistic (as opposed to universal and international in
orientation)”
45. Those that are
“anti-global”
46. Those that
are “suspicious of centralized federal authority”
47. Those
that are “reverent of individual liberty”
48. Those that
“believe in conspiracy theories”
49. Those
that have “a belief that one’s personal and/or national ‘way of life’ is under
attack”
51. Those
that would “impose strict religious tenets or laws on society
(fundamentalists)”
52. Those that
would “insert religion into the political sphere”
53. Anyone
that would “seek to politicize religion”
54. Those that
have “supported political movements for autonomy”
55. Anyone that is
“anti-abortion”
56. Anyone that is
“anti-Catholic”
57. Anyone that is
“anti-nuclear”
60. Those concerned about
“illegal immigration”
61. Those that “believe in
the right to bear arms”
62. Anyone that is
engaged in “ammunition stockpiling”
63. Anyone that exhibits
“fear of Communist regimes”
65. Those that
are against illegal immigration
66. Those
that talk about “the New World Order” in a “derogatory” manner
67. Those
that have a negative view of the United Nations
68. Those
that are opposed “to the collection of federal income taxes”
69. Those
that supported former presidential candidates Ron Paul, Chuck Baldwin and Bob
Barr
70. Those that
display the Gadsden Flag (“Don’t Tread On Me”)
71.
Those that believe in “end
times” prophecies
The
groups of people in the list above are considered “problems” that need to be
dealt with. In some of the documents referenced above, members of the
military are specifically warned not to have anything to do with such groups.
We
are moving into a very dangerous time in American history. You can now be
considered a “potential terrorist” just because of your religious or political
beliefs. Free speech is becoming a thing of the past, and we are rapidly
becoming an Orwellian society that is the exact opposite of what our founding
fathers intended.
Please
pray for the United States of America. We definitely need it.
About
the author: Michael T. Snyder is a former
Washington D.C. attorney who now publishes The
Truth. His new thriller entitled “The Beginning Of The End”
is now available on Amazon.com.
An Attack On Syria Would Be the Most Unpopular War Ever
Paul Joseph Watson | Three times more Americans supported US involvement in
Vietnam at war’s lowest ebb.
Obama’s Cruise Missile Attack Will Not Topple Assad
Kurt Nimmo
| “Boots on the ground” only effective way to remove Bashar al-Assad from power
in Syria.
US Attempts to Sabotage UN Chemical Weapons Investigation
Paul Joseph Watson | Decision to attack Syria already made over a year ago.
Skull and Bones Kerry Prime Suspect in Syria Attack
Infowars.com
| Alex Jones exposes how war provocations throughout history have been staged.
Western Warplanes Begin Arriving In Cyprus
Zero
Hedge | Remember what the 2012 leaked Stratfor memo said about the focal point
of western airborne power?
Americans Would Rather Get a Root Canal or a Colonoscopy
than Launch War Against Syria
Washington’s
Blog | Americans Are Sick of War.
Evidence: Syria gas attack work of U.S. allies
Jerome
Corsi | Contrary evidence arises as U.S. considers punishing Assad regime.
Inspectors In Syria Forbidden From Finding Out WHO Used
Chemical Weapons, Only IF They Were Used
Washington’s
Blog | The Fix Is In.
Dow
falls 100 amid mounting worries over Syria, all S&P sectors lower
CNBC
| Stocks were sharply lower Tuesday, with all key S&P sectors in the red,
amid building worries over potential U.S. military action in Syria.
Facebook
friends could change your credit score
CNN
| Choose your Facebook friends wisely; they could help you get approved – or
rejected – for a loan.
Larry
Summers and the Secret “End-Game” Memo
Greg Palast
| The memo is authentic.
Obama’s Cruise Missile Attack Will Not Topple Assad
Kurt Nimmo
| “Boots on the ground” only effective way to remove Bashar al-Assad from power
in Syria.
Military strikes on Syria ‘as early as Thursday,’ US
officials say
NBC
News | Missile strikes against Syria could be launched “as early as Thursday,”
senior U.S. officials said Tuesday.
Syria opposition handed Western powers lists of targets
for strike
Voice
Of Russia | Western countries have received the list of targets for air strikes
in Syria from the Syrian opposition, reported sources.
Syria strike due in days, West tells opposition – sources
Reuters
| Western powers have told the Syrian opposition to expect a strike against
President Bashar al-Assad’s forces within days.
‘US to release report in coming days justifying Syria
strike’
Reuters
| Iran warns foreign intervention will “engulf the whole region.”
Syria crisis: Russia and China step up warning over
strike
BBC
News | Russia and China have stepped up their warnings.
US Attempts to Sabotage UN Chemical Weapons Investigation
Paul Joseph Watson | Decision to attack Syria already made over a year ago.
Western Warplanes Begin Arriving In Cyprus
Zero
Hedge | Remember what the 2012 leaked Stratfor memo said about the focal point
of western airborne power?
Gold
Is Having A Huge Day, And It Just Went Straight Vertical
Business
Insider | Another sign of the market volatility.
RUSSIA, CHINA WARN
AGAINST STRIKE
{
The final nail in america’s global coffin! Really! }
BAMA'S
WAR...
BUCHANAN:
Congress should veto...
Strike
within days...
Warplanes
begin arriving in Cyprus...
Armed
forces 'making contingency plans' for military action...
CAMERON
RECALLS PARLIAMENT...
STOCKS JOLTED...
Russia
evacuates 90 people ...
Says
West Acting Like 'Monkey With Hand Grenade'...
Top
Syrian Official: Obama 'Completely Wrong'; 'Produce The Evidence'...
Cory
Booker: So What If I'm Gay? { Wobama’s a gay nigger too! }
COPS:
Black teen girls assault white woman; charged with 'ethnic intimidation'...
PAPER:
Black man attacks elderly white male, tells him he 'shouldn't be in his
park'...
Report:
SC restaurant refused to seat black patrons...
SCHOOL:
Black student sent racist texts to himself...
Jesse
Jackson: 'Tea Party is Resurrection of the Confederacy'... { Riiiiight, jesse the typical nigger
jackson … go join your son in jail, where the niggers have proven by every
factual crime stat they belong … indeed, they’ve proven they can’t live in this
or any other nation as anything but slaves or inmates, so inherently
uncivilized they are! Time to require work for their welfare … to occupy their
otherwise misspent time getting high, partying, listening to their rap s***,
and committing crimes. I’m quite serious! }
Meet
(And Follow) The US Naval Forces Breathing Down Syria's Neck
Submitted by Tyler
Durden on 08/27/2013 - 11:06
With
a US attack on Syria now seemingly inevitable, it is useful to get familiar
(and in some cases follow in real time using their "social
networking" sites) the US Naval forces amassing around Syria, ready to
deliver either a lethal payload of Tomahawk cruise missiles (carried by the
four destroyers listed below), a deployment of marines (located in the USS
Kearsarge big-deck amphibious warfare ship), or one or more squadrons of
airplanes sitting on the deck of the Truman and Nimitz aircraft carriers.
Real-Time
East Mediterranean Marine Traffic Tracker
Submitted by Tyler
Durden on 08/27/2013 - 12:19
Right
now, ship traffic around Syria, and especially around the port city of Latakia
and Tartus (where the Russian naval base is located), is normal as can be
seen on the real-time map of naval traffic in the Mediterranean courtesy of Marine Traffic. If and when
(supposedly Thursday if NBC is to be believed) the US finally launches the
Tomahawks, expect a prompt evacuation of the triangle between Lebanon, Turkey
and Cyprus. Or maybe in advance, especially if some of the more
"strategic" tankers get advance notice things are going down.
Keep an eye on real-time Mediterranean traffic courtesy of the map below.
Treasury
Sells $34 Billion In 2 Year Notes In Lackluster Auction
Submitted by Tyler
Durden on 08/27/2013 - 13:13
There
was some anticipation heading into today's 2 Year auction, which as disclosed
previously, represented the first drop in nominal issuance by $1 billion from
the prevailing 2 Year size over the past several years, when as a result of
reduce budget funding needs "only" $34 billion was auctioned off
instead of the $35 billion recent average. Yet despite the tiny reduction in
nominal, the auction was hardly a blockbuster, and if anything it was rather
lackluster, with the high yield pricing at 0.386%, better than the 0.389% When
Issued but certainly above July's 0.336%. The Bid to Cover also posted a modest
improvement, from 3.08x last to 3.21x, however this was well below the TTM
average of 3.53x. As can be seen on the chart below, auction BTC levels have
been declining consistently since peaking in late 2012. Finally, the internal
breakdown was generally as expected, with Directs taking down 26.1%, higher
than post last month's 16.37% and the TTM average of 21.2%, Dealers holding on
to 54.6% of the auction and Indirects ending up with just 19.30%, the lowest
such allocation since January of this year.
Entire
Treasury Belly Now Trading "Special"
Submitted by Tyler
Durden on 08/27/2013 - 12:00
Between
a renewed demand for the relative geopolitical 'safety' of US Treasuries and
the dismal US macro data starting to renew 'hopes' that the Taper will be
delayed, the scarcity of high-quality
collateral and plunging
liquidity (thanks to the Fed's ongoing envelopment of the US bond
market) has once again driven the 'belly' of the US Treasury market to
trade 'special'. As Stone & McCarthy notes, repo has been tightening up
overall, and the 2-year, 5-Year, 7-year, and 10-year are all also
trading with negative handles this morning, with the 7-year getting more
special ahead of this week's auction. This 'specialness' will once
again raise concerns about the Fed having 'broken' the market (and
as we noted here) may be further ammo to scare Bernanke straight
(encouraging some degree of Taper in the Treasury buying even if the consensus
believes economically we can't withstand it).
On The
Global QE Exit Crisis
Submitted by Tyler
Durden on 08/27/2013 - 11:39
The global economy could be in the early
stages of another crisis. Once
again, the US Federal Reserve is in the eye of the storm. As the Fed attempts to exit from so-called
quantitative easing (QE) – its unprecedented policy of massive purchases of
long-term assets – many high-flying emerging economies suddenly find
themselves in a vise. The Fed insists that it is blameless – the same
absurd position that it took in the aftermath of the Great Crisis of 2008-2009.
As in the mid-2000’s, there is plenty of blame to go around this time as well.
The Fed is hardly alone in embracing unconventional monetary easing. Moreover,
the collapsing 'developing economies' all have one thing in common: large
current-account deficits. A large current-account deficit is a
classic symptom of a pre-crisis economy living beyond its means – in effect,
investing more than it is saving. The only way to sustain economic growth
in the face of such an imbalance is to borrow surplus savings from abroad. That
is where QE came into play...
VIX Jumps
To 9-Week High
Submitted by Tyler
Durden on 08/27/2013 - 10:40
It
seems not everyone is so confident that this market drop is dip to be bought.
With most of the Treasury complex trading 'special' and the S&P 500 back
below its 50DMA, investors are grabbing protection where they can. Credit
indices are notably wider but it is VIX at 16.56% that is in great
demand as it hits nine-week highs.
Bob
Shiller Warns "None Of This Is Real; The Housing Market Has Become Very
Speculative"
Submitted by Tyler
Durden on 08/27/2013 - 10:28
With
the Case-Shiller 20-City index up double-digits for the 4th straight month, Bob
Shiller has some choice words for the CNBC interviewers about the 'housing
recovery'. "Housing is a market with momentum," he notes,
"and right now, the momentum is up;" but he adds that while
house prices are 'recovering', he remains much less sanguine about this recent
move. But it is once he has explained the potential concerns that may weigh on
the housing market that Shiller comes into his own as he explains "none
of this is real, the housing market has gotten very speculative."
Must see clip as Shiller scoffs at the current sentiment, the resurgence of
'flipping', and that the housing market is "driven by irrational
exuberance."
Assad
Warns: "Syria Will Never Become A Western Puppet State" - Full
Interview
Submitted by Tyler
Durden on 08/27/2013 - 09:35
President
Bashar al-Assad stressed that "Syria is a sovereign country that
will fight terrorism and will freely build relationships with countries in a
way that best serves the interests of the Syrian people." As Syrian
TV reports, in an interview with the Russian newspaper of Izvestia,
President al-Assad stressed that "the majority of those we are fighting
are Takfiris, who adopt the al-Qaeda doctrine, in addition to a small number of
outlaws." On the alleged use of chemical weapons, President al-Assad said
that the statements by the US administration, the West and other countries were
made with disdain and blatant disrespect of their own public opinion, adding
that "there isn’t a body in the world, let alone a superpower,
that makes an accusation and then goes about collecting evidence to prove its
point." Al-Assad stressed that these accusations are
completely politicised and come on the back of the advances made by the
Syrian Army against the terrorists.
June
Case Shiller Misses, Y/Y Growth Posts First Slowdown Since December 2011
Submitted by Tyler
Durden on 08/27/2013 - 09:24
While
Case Shiller is about as backward looking an indicator as they come (June
housing data when it is almost September is pretty much completely useless),
today's release showed yet another miss relative to expectations, with the 20
City Composite posting a monthly increase of 0.89%, missing expectations of 1%
(for the second month in a row), was the third consecutive month of a slowing growth,
and the lowest sequential growth since November 2012.
The
Quote Blasts That Killed The NASDARK Caught On Tape
Submitted by Tyler
Durden on 08/27/2013 - 08:43
With
AAPL plunging below the critical $500 level and equity markets slumping this
morning, it seems appropriate to reflect once again on the cause of last week's
NASDARK debacle. As Nanex so obviously points out in these charts, digging into
market data before the Nasdaq blackout at 12:20 EDT on August 22, 2013, we came
across several significant periods of extremely high quote volumes.
By plotting the number of messages for each of the 6 multicast lines used by
the Tape C SIP (Securities Information Processor), we discovered the
quote blasts map directly to individual multicast lines. The 'line'
carrying AAPL's ticker saw the largest and most egregious quote volumes
(spamming perhaps) that eventualy ovehwlemed NASDARK's creeking infrastructure.
Market
"Glitches" Begin Early: CBOE Reports Streaming Market Data System
"Experiencing Issues"
Submitted by Tyler
Durden on 08/27/2013 - 08:37
Loud
War Drums Send Gold Into New Bull Market, Oil Soaring
Submitted by Tyler
Durden on 08/27/2013 - 08:13
A
flurry of Reuters headlines climaxing with:
WESTERN POWERS TELL SYRIAN OPPOSITION TO EXPECT STRIKE WITHIN
DAYS - SOURCES WHO ATTENDED MEETING BETWEEN ENVOYS, SYRIAN COALITION
MILLER SAYS CHANCE OF U.S. STRIKE ON SYRIA ‘VIRTUALLY 100%’
has
sent investors scrambling for cover and added war premia to risk assets. Gold
is now up over 20% from its 6/28 lows to $1,418.90; WTI jumped to over
$108.50 - its highest since early March - collapsing the Brent-WTI spread back
to $4. S&P futures are at their overnight lows -12pts (as all-important
AAPL loses the $500 level and Icahn's dreams); 10Y yields have slid to 2.76%; and
the JPY is surging back to 97.50 as carry-unwinds escalate.
Japan's
2014 Debt Interest Costs Rise 14% To Record $257 Billion, Same As Singapore GDP
Submitted by Tyler
Durden on 08/27/2013 - 08:03
While
the world is gripped in yet another great distraction over the great "will
he, won't he" start World War III debate, things that are unsustainable
remain unsustainable. Such as Japan's debt, and specifically the amount of cash
interest that the nation with the 230% debt/GDP (and rising interest rates)
will have to pay to service its gargantuan balance sheet. According to a
document seen by Reuters, Japan expects to spend a record $257 billion to
service its debt during the next fiscal year. The amount to be allocated for
debt-servicing for the year that will begin on April 1 is nearly as large as
the gross domestic product of Singapore, which the World Bank put at $275
billion at the end of 2012. More disturbing, this is a 14% increase in
the debt interest cost in just one year. And yes, it is unsustainable
absent an epic inflationary episode to "inflate away the debt",
something that Abenomics has so far failed in achieving despite some hopeful
early glimmers in crushing the Yen.
Frontrunning:
August 27
Submitted by Tyler
Durden on 08/27/2013 - 07:37
Opposition
figure: major decisions on Syria expected within hours (Al
Arabiya)
Syria
challenges U.S. to "produce the evidence" that Assad regime launched
chemical attack (CBS)
British
PM says world must act on Syria, weighs response (Reuters)
U.S.
Treasury to Hit Debt Limit in Mid-October (WSJ)
U.S.
could look beyond U.N. Security Council in any Syria strike (Reuters)
Nasdaq,
NYSE at odds on outage cause as SEC seeks facts (Reuters)
Ackman’s
J.C. Penney Sale Ends Failed Saga to Agitate for Change (BBG)
Zandi,
LaVorgna, Blinder, Rattner all is one con puff piece (BBG)
Best
Buy Founder Schulze Plans Stock Sale to Diversify Assets (BBG)
- "diversify assets" = dump overpriced junk
Zero
Worship: Credit-Card Firms Compete With No-Interest Transfers (WSJ)
Len
Blavatnik wins $50m in JPMorgan lawsuit (FT)
Danone
Finds Yogurt’s All Greek as Oikos Chases Chobani (BBG)
Beached
Scapewhale: JPMorgan's Javier Martin-Artajo Arrested In Madrid
Submitted by Tyler
Durden on 08/27/2013 - 07:06
As
previewed extensively
previosuly, Javier Martin-Artajo, one of the two JPMorgan scapewhales
resulting from the London CIO prop-trading fiasco in which JPM used some $400
billion in deposit funding to corner the HY and IG CDS markets and then proceed
to liberally redefine what a mid-market mark means, has been arrested.
Driving
On Portugal's Ghost Roads: Traffic Crashes By 68% In First Quarter
Submitted by Tyler
Durden on 08/26/2013 - 19:16
While
Portuguese bond spreads suggest all-is-well, stocks rally, and the nation's
leaders proclaim the worst is over, there is a hard-to-manipulate statistic
that should shock many about the truly dismal state of the troubled nation. As The FT
reports in the brief clip, Portuguese road-traffic fell 50% in
2012, and a stunning 68% in Q1 2013... and the detail are even
worse.
"No
Debate" At White House That Military Response Against Syria Necessary, CBS
Says
Submitted by Tyler
Durden on 08/26/2013 - 18:43
Scandal
Erupts Between Russia And Belarus Following Arrest Of Uralkali CEO,
Nationalization Threat
Submitted by Tyler
Durden on 08/26/2013 - 18:27
Less
than a month ago, potash stocks around the world cratered overnight following
news that Russian potash producer OAO Uralkali announced its decision to break
up a 'marketing venture' that controlled around 43% of global potash exports in
the process ending the cartel that many US fertilized companies enjoyed for
years. The end of the cartel was also a big hit for former partner Belarusian
Potash Company (BPS) and the host nation Belarus, a country of 9.5 million
people, where revenue from its potash industry accounts for almost 20
percent of the budget. Everyone, Goldman Sachs, included were
confounded by the move: Such behavior by Belaruskali in a structurally
oversupplied potash industry should push for stricter competition for end
customers and result in a significant swift decline in pricing... " What
was most surprising is that Uralkali would voluntarily engage in this move,
knowing full well that the Belarus government would retaliate. The only
question is how severely. Turns out the answer is "very."
The
New 'Cloud' Normal - "Glitch" Brings Down Vine, Instagram, And
Netflix
Submitted by Tyler
Durden on 08/26/2013 - 18:05
It
seems "glitch" is rapidly becoming the new normal for our cloud-based
world as last week's epic fail on the NASDARK (and Amazon's 30-minute 'dark'
period) has now been followed up by a "glitch" at one of
Amazon's data centers last night knocking out users of Vine, Instagram, and
Netflix. While NASDAQ remains tight-lipped over the source of its
glitch, Amazon has narrowed the search for the vindictive bug to a 'partial
failure of a network device' in a northern Virgina data center. As The BBC reports, the problems
began around 1600ET and continued for several hours. We await news
from EUREX on what 'glitch' caused their systems to fail epically this morning
also.
Guest
Post: Trying To Stay Sane In An Insane World - Part 3
Submitted by Tyler
Durden on 08/26/2013 - 17:31
In Part 1 of this article we documented the
insane remedies prescribed by the mad banker scientists presiding over this
preposterous fiat experiment since they blew up the lab in 2008. In Part 2 we tried to articulate why the
country has allowed itself to be brought to the brink of catastrophe. There is
no turning back time. The choices we’ve made and avoided making over
the last one hundred years are going to come home to roost over the next
fifteen years. We are in the midst of a great Crisis
that will not be resolved until the mid-2020s. The appearance of stability is
illusory, as the civic fabric of the country continues to tear asunder. Record
high stock markets do not trickle down. The masters of propaganda seem
baffled that their standard operating procedures are not generating the
expected response from the serfs. They have failed to take into
account the generational mood changes that occur; propaganda loses its
effectiveness in proportion to the pain and distress being experienced by the
citizenry.
Hitler Is
Short Tesla
Submitted by Tyler
Durden on 08/26/2013 - 16:58
Just
what does Hitler have to do to catch a break?
Ackman Folds
Submitted by Tyler
Durden on 08/26/2013 - 16:21
29 months after ramping his initial stake to over 39 million
shares (and
witnessing a collapse of the stock from Over $40 to under $13), Ackman has decided
that enough is enough. Through a just filed Citi-sole
managed prospectus, Pershing Square is set to sell his entire 39,075,771
share stake in the beleaguered firm. The stock price's initial plunge on the
news was immediately met by an avalanche of algo-driven buying to enable those
that can to escape quick but as we post, JCP is heading back to its lows. With
an overall cost-basis in the mid $20s, this one will sting a bit.
Market
Close: The War Rotation
Submitted by Tyler
Durden on 08/26/2013 - 15:41
All was well in the world early on. Dismal durable goods orders were terrible
enough to provide the index-watching-muppets with the
bad-news-that-is-good-news to pump stocks higher. Other markets reacted in a
pro-Taper-off mode (aside from Gold and silver which were man-handled back down
from the $1,400 level). Volume is/was terrible in stocks but they clung to
earlier highs as homebuilders surged (seeming to ignore Friday's data
entirely). Then Kerry spoke... first WTI broke higher (catching up Brent), then
gold (and silver), the USD sold off (as JPY strengthened as a million carry
traders were suddenly silenced), and US equity markets fell out of bed
with a thump. The dow lost 15,000; S&P futures tested down to
their 50DMA; gold traded up to $1,403; silver well over $24; VIX snapped 1 vol
higher to 15.0%; and AAPL tumbled from early highs (holding above $500 though).
An ugly close at the lows of the day for stocks...
Will
8th Time Be The Charm For $1,400 Gold?
Submitted by Tyler
Durden on 08/26/2013 - 15:22
UPDATE 2: the
valiant $1400 defense failed. Gold at $1405 now
UPDATE:
Dow lost 15,000. AAPL $502 (from $510), Gold $1399
It
seems defending the critical levels we highlighted on Friday remains the
market's mission today. AAPL over $500, check! Dow over 15,000, check! Gold
under $1,400, check... for now (oh and Silver under $24, check). We
can't help but wonder who the magnificently positioned 'trader' is that keeps
wiping away the bid-stack every time we touch $1,400 - especially as the
contrarian in us notes that more than half the analysts in Bloomberg's
survey expect price to fall (the most since just before gold bottomed nine
weeks ago)... With Kerry's briefing appearing to raise the chances of
war, it will be tough for 'them' to defend this push...
A
"Clear, Staggering And Compelling Attack" - Full Kerry Transcript
Submitted by Tyler
Durden on 08/26/2013 - 15:14
"Anyone
who could claim that an attack of this staggering scale could be contrived or
fabricated needs to check their conscience and their own moral compass. What
is before us today is real, and it is compelling."
Guest
Post: Detroitification - It’s The Government, Stupid
Submitted by Tyler
Durden on 08/26/2013 - 14:48
No matter how hard the Washington crowd
tries to sell an economic recovery, inconvenient and contrary facts keep
rearing up to shatter their mythmaking. Few people any longer believe the claims of
declining unemployment or low inflation at least based on purchases they make.
The fable of a housing recovery is now crumbling. The recession, declared over
in June 2009, never ended. Some wonder how bad the recession/depression might
have been had government not acted. Others worry that we will find out when the
Fed tapers. For lack of a better term, the process the entire country is
headed for is “Detroitification.” At this stage, the damage is done and
cannot be undone quickly enough to avoid this crisis. Even if there
were time, there is no way that politicians would willingly address the
problem.
Israel
Claims To Have Intercepted "Syrian Regime Chatter" Confirming Assad
Behind Attack
Submitted by Tyler
Durden on 08/26/2013 - 14:16
The
planting and harvesting of false flags in Syria will need a crop rotation
following the latest "revelation" by Germany's Focus magazine (on
Saturday), subsequently reported by the Times of Israel, that Israeli Defense
Forces had listened in on senior Syrian officials discussing a chemical attack
last Wednesday. TOI reports that "according to the report Saturday in
Focus magazine, a squad specializing in wire-tapping within the IDF’s
prestigious 8200 intelligence unit intercepted a conversation between
high-ranking regime officials regarding the use of chemical agents at the time
of the attack. The report, which cited an ex-Mossad official who
insisted on remaining anonymous, said the intercepted conversation
proved that Bashar Assad’s regime was responsible for the use of
nonconventional weapons."
Secretary
Kerry "Syria / Taper" Briefing - Live Webcast (Delayed To 1430ET)
Submitted by Tyler
Durden on 08/26/2013 - 13:52
UPDATE 3: He speaks... and it's over
UPDATE 2:
KERRY STILL MIA (NO PUN INTENDED)
UPDATE:
KERRY COMMENTS ON SYRIA DELAYED UNTIL 2:30, STATE DEPT SAYS
Following
the weekend's escalations (and today's intelligence intercepts, inspections,
and attacks), US Secretary of State John Kerry is back from vacation and
takes to the teleprompter (and hopefuly some Q&A) to brief us on which red
line is next and when the US goes back to war (removing the Taper fears)...
*RUSSIAN, TURKISH FOREIGN MINISTERS DISCUSSED SYRIA BY PHONE
*PUTIN, CAMERON DISCUSSED SYRIA IN PHONE CALL, KREMLIN SAYS
*CAMERON, PUTIN SAY CHEMICAL WEAPON USE MERITS SERIOUS RESPONSE
‘IDF intercepted Syrian regime chatter on chemical attack’ - Times
of Israel
Pre-Kerry:
S&P 500 (Fut) 1663.25, 10Y 2.8055%, USD 81.45, WTI $106.15, Gold $1393.55
Soybean,
Corn, And Wheat Prices Are Surging
Submitted by Tyler
Durden on 08/26/2013 - 13:38
Just
two
weeks ago, agriculture commodity-watchers were celebrating: “we are in
for an exceptionally good year, perhaps one of the best in the last four or
five years in terms of crop production,” as prices for corn, wheat and
soybeans were falling amid global relief of the escalating inflation of food
prices. So much for that... as SocGen notes, prices will be at or above current
levels as hot, dry weather threatens U.S. Midwest crops. In addition, a
shift in Chinese policy (following corruption concerns) is having a positive
impact on price. Sure enough, Corn, Wheat (impacted by Brazil's frosts cutting
forecast by 26%), and Soybean prices are screaming higher today as crops appear
to be "decidely not in good shape." Corn is having its
biggest gain since July 2012, Soybeans up most since 2010 and limit-up, and
Wheat up its most since June 2012.
KERRY DECLARES WMD...
Chemical weapons 'undeniable'...
Obama
'undecided'...
Press
corps blurs president's 'red line'...
Middle
East alliances cracking...
POLL:
9% support military action...
Israel
distributes gas masks...
Damascus,
Tehran issue stark warning to Jerusalem...
Sec. State Kerry Prepares WMD Pretext Ahead of Syria
Attack
Kurt Nimmo
| Obama and his partners in crime set stage of another murderous attack.
History Repeats: CIA Docs Reveal US Aided Saddam’s
Chemical Attacks
Anthony
Gucciardi | History repeats as CIA files reveal the US aided Saddam’s historic
chemical attacks in the 80s.
Remembering 9/11 Truth Scholar Dr. Bob Bowman
Julie Wilson
| “The most unbelievable of all the wild conspiracy theories is the one our
government has told us.”
Young Deputy Sheriff Guns Down Air Force Vet in His Own
Garage
Kit Daniels
| 22-year-old deputy kills 68-year-old vet who was inspecting damage done to
his property.
Conservative ‘Extremists’ Force Twitter Trend
Adan
Salazar | People using social media to propagate ‘extremist’ views.
Syria: We’ll Strike Israel If US Attacks
Steve
Watson | Syrian government has “strategic weapons aimed at Israel.”
Syrian Rebels Behind Sniper Attack on UN Inspectors?
Paul Joseph Watson | Opposition militants previously kidnapped multiple UN
peacekeepers.
Demand For Gas Masks in Israel Soars as Syria Attack
Nears
Paul Joseph Watson | Hordes of Israelis flock to distribution centers.
Larry
Summers and the Secret “End-Game” Memo
Greg Palast
| The memo is authentic.
First
Signs of Hyperinflation Have Arrived
JS Kim
| US national debt can travel from the earth to the sun and back a stunning 83
times.
Pentagon
Prepping For ‘Large Scale Economic Breakdown’
Anthony
Gucciardi | High level government documents reveal that the Pentagon is
preparing in full force for ‘large scale economic meltdown’ and massive revolt
via the US public — exactly what we are criticized for doing.
Syria: We’ll Strike Israel If US Attacks
Steve
Watson | Syrian government has “strategic weapons aimed at Israel.”
Syrian Rebels Behind Sniper Attack on UN Inspectors?
Paul Joseph Watson | Opposition militants previously kidnapped multiple UN
peacekeepers.
Remembering 9/11 Truth Scholar Dr. Bob Bowman
Julie Wilson
| “The most unbelievable of all the wild conspiracy theories is the one our
government has told us.”
Former Jabhat al-Nusrah Member admits Chemical Weapons
Use
nsnbc
| A former member of the al-Qaeda associated, foreign-backed Jabhat al-Nusrah
front has admitted that Jabhat al-Nusrah is in possession of chemical weapons,
to be used in attacks in Syria.
CIA Files Prove America Helped Saddam as He Gassed Iran
Foreign
Policy | The U.S. knew Hussein was launching some of the worst chemical attacks
in history — and still gave him a hand.
Demand For Gas Masks in Israel Soars as Syria Attack
Nears
Paul Joseph Watson | Hordes of Israelis flock to distribution centers.
Top Dem: We Will Ignore Congress on Syria Attack
Paul Joseph Watson | Rep. Eliot Engel calls for cruise missile assault.
KUDLOW:
My Source Says Tim Geithner Is Leading The Search For The Next Fed Chair
CNBC
| Wait a second … Geithner? Did someone say Geithner? We thought he retired
from government to go home to New York.
Gold, Crude
Spike On Pre-War Jitters
Zero
Hedge | Events over the past 48 hours have shown beyond a reasonable doubt that
the US may have the most confused, conflicting foreign policy of any western
nation.
US
government seized $5 million from Bitcoin behemoth Mt. Gox
The
Verge | Things keep looking worse for Mt. Gox, by far the largest company in
the nearly four-year-old economy that has sprung up around the virtual currency
Bitcoin.
“Hello
Scotia Mocatta, It’s JPMorgan… Yes, Again… We Need More Gold”
Zero
Hedge | It happened again.
Guest
Post: Up Against Hard Limits - Food And Finance
Submitted by Tyler
Durden on 08/24/2013 - 19:01
For
roughly forty years (since the report was published in 1972), technology has
pulled one magic rabbit after another out of the hat, making a mockery of the claims that there
were limits on consumption and resource extraction: the green revolution and
fossil-fuel fertilizers expanded food production, new supergiant oil fields and
improved drilling technologies opened up vast new energy reserves, and improved
technologies led to more efficient use of resources. The success of the past
four decades in pushing back looming limits has created a widespread confidence
that technology can solve any apparent limits. For example, if the seas have
been stripped of fish, then aquaculture will fill the desire for fresh fish.
Presto-magico. But what if the technological improvements are entering
a terminal phase of diminishing returns? What if the "solutions"
don't really replace what has been destroyed? For example, the ecology of the
open ocean is not restored by aquaculture; rather, it is further harmed by poor
aquaculture practices.
Internet
Architects Plan Counter-Attack On NSA Snooping
Submitted by Tyler
Durden on 08/24/2013 - 16:24
"Not
having encryption on the web today is a matter of life and death,"
is how one member of the Internet Engineering Task Force - IETF (the so-called
architects of the web) described the current situation. As the
FT reports, the IETF have started to fight back against US and UK snooping
programs by drawing up an ambitious plan to defend traffic over the world wide
web against mass surveillance. The proposal is a system in which all
communication between websites and browsers would be shielded by encryption.
While the plan is at an early stage, it has the potential to transform
a large part of the internet and make it more difficult for governments,
companies and criminals to eavesdrop on people as they browse the web.
"There has been a complete change in how people perceive the world,"
since Snowden exposed the NSA's massive surveillance efforts, and while
"not a silver bullet," the chief technologist at security firm RSA
notes, "anything that improves trust in this digital world is a noble
aim."
"There’s
No Free Market In Money Today" And Other Observations By Howard Marks
Submitted by Tyler
Durden on 08/24/2013 - 15:53
"When
things are going well people become greedy and enthusiastic, and when times are
troubled, people become fearful and reticent. That’s just the wrong thing to
do. Another
mistake that people often make is that they compare themselves with others who
are making more money than they are and conclude that they should emulate the
others’ actions ... after they’ve worked. This is the source of the
herd behaviour that so often gets them into trouble... As long as
human nature is part of the investment environment, which it always will be, we’ll
experience bubbles and crashes.... People talk about the wisdom of
the free market – of the invisible hand – but there’s no free market
in money today. Interest rates are not natural. They are where
they are because the governments have set them at that level. Free markets
optimise the allocation of resources in the long run, and administered markets
distort the allocation of resources. This is not a good thing..."
- Howard Marks
The
IMF's "Containment Strategy" For Europe: Fingers Crossed
Submitted by Tyler
Durden on 08/24/2013 - 14:45
"The
latest numbers that we have received, in particular from Germany, are
encouraging, whether it's manufacturing, whether it's service activity, whether
it's exports. That is heading in the right direction, but it needs to be
sustained over time. And I'm crossing fingers for the eurozone..."
What's
Driving Treasury Yields?
Submitted by Tyler
Durden on 08/24/2013 - 12:07
The
10Y Treasury yield has jumped nearly 130bp from its low point in early May.
Given the tight ranges and low volatility of yields during the most of QE era,
this kind of move in just over 3 months seemed stunning to some investors.
Consequently, the question that has come up often recently is: what has
been driving Treasury yields? As UBS' Boris Rjavinski notes, several
years ago a rate strategist would give you a straightforward and predictable
answer: inflationary expectations, economic growth projections, and current and
future monetary policy. But now, as Rjavinksi notes, central banks and
politics in the driver seat. Volatility will remain elevated as we
await key messages from the Fed in September, and U.S. political calendar will
start to heat up as we approach the “drop-dead” dates to fund the government
and extent the dent ceiling.
NSA
Agents Used Company Resources To Spy On Former Spouses
Submitted by Tyler
Durden on 08/24/2013 - 10:45
Remember
when Obama said it is impossible for the NSA to spy to American citizens? Well,
at least one guy didn't get the memo. As AP
reports, two U.S. officials said one analyst was disciplined in years past for
using NSA resources to track a former spouse. The officials spoke on
condition of anonymity because they were not authorized to speak publicly. Not
that we blame him of course: if one has every capability to spy on anyone,
certainly including exes, and there are absolutely no checks and balances to
any violating behavior, then why not? Which of course goes to
the root of the problem. And the other problem: if one guy has done it, all
others have done it too. They just haven't been caught yet.
Slower
Asian Growth + Weaker Funding Conditions = ?
Submitted by Tyler
Durden on 08/24/2013 - 10:06
The
challenge to the world's credit cycle comes from both ends. An
increasingly sluggish growth outlook creates downward pressures on earnings and
internal cash generation. The slowdown is fairly widespread. In addition, the
cost of funding is on the rise. Downside skews begin to emerge in the
later stages of a cycle when leverage has already increased and the
cycle turns more adverse, and that is happening in Asia right now. This
is critical in our current benign default environment because the combination
of highly leveraged firms, slowing GDP and rising real rates was exactly what created
the spike in defaults in 2007-2009 (that only the largest monetary
policy bailout in history was capable of kicking down the road).
The
Pentagon Is Preparing A Cruise Missile Attack Against Syria
Submitted by Tyler
Durden on 08/23/2013 - 20:17
Detroit
Has Gone To The Dogs... Literally
Submitted by Tyler
Durden on 08/23/2013
Detroit
may be on its way to becoming a ghost town, but the disappearance of homo
sapiens from the streets just means the largest US bankrupt city is about to
have a new master - man's formerly best friend, in the form of tens of
thousands of stray dogs most of which happen to be a particularly vicious breed
of pit bulls. Step aside Motown, and say hello to Dogtown.
Report: DHS At Active Shooter Drill In Texas?
Infowars.com
| We don’t expect that question to be answered truthfully any time soon.
DoD Training Manual: ‘Extremist’ Founding Fathers ‘Would Not
Be Welcome In Today’s Military’
Adan Salazar
| Material lists people concerned with “individual liberties, states’ rights,
and how to make the world a better place” as potential extremists.
Flashback: Yahoo Uncovered Syria Chemical Weapon False
Flag in January
Anthony
Gucciardi | There has much been talk of the recent chemical attack in Syria,
yet there appears to be virtually no mention of this piece in the mainstream
news.
Syrian Girl Reports on The Orchestrated Syrian Conflict
Infowars.com
| Syrian Girl gives an update on the escalating crisis in Syria with new
allegations of chemical attacks.
Experts Doubt Syrian Chemical Weapons Claims
Washington’s
Blog | Preliminary Evidence Indicates that the Syrian Government Did NOT Launch
a Chemical Weapon Attack Against Its People.
DoD Training Manual Suggests ‘Extremist’ Founding Fathers
‘Would Not Be Welcome In Today’s Military’
Adan Salazar
| Material lists people concerned with “individual liberties, states’ rights,
and how to make the world a better place” as potential extremists.
The Pentagon Is Preparing A Cruise Missile Attack Against
Syria
Zero
Hedge | We are meant to believe that the Syrian leader launched the biggest
nerve gas attack in the history of the Qatari, Al-Qaeda and CIA-funded and
organized Syrian rebellion.
US military updates list of potential targets in Syria as
pressure mounts on Obama
Reuters
| Updated list includes mobile targets that would disrupt Assad’s ability to
conduct chemical weapons attacks.
Flashback: Yahoo Uncovered Syria Chemical Weapon False
Flag in January
Anthony
Gucciardi | There has much been talk of the recent chemical attack in Syria,
yet there appears to be virtually no mention of this piece in the mainstream
news.
Al Qaeda blames Hezbollah for Lebanon bombings
Reuters
| Al Qaeda’s North African branch blamed Lebanese Shi’ite Muslim militant group
Hezbollah for twin bombs that hit the northern city of Tripoli on Friday.
Rebels smuggling Syria chemical weapons strike evidence
to U.N. experts
Reuters
| Syrian activists say they are smuggling out body tissue samples from victims
of an alleged chemical weapons attack outside Damascus and are trying to get
them to a team of United Nations inspectors.
NSA Admits: There Have Been A Bunch Of Intentional
Abuses, Including Spying On Love Interests
Techdirt
| Late on Friday (of course) the NSA finally put out an official statement
admitting to an average of one intentional abuser per year over the past ten
years.
UK’s Suppression Of Freedom Of The Press Drives Guardian
To Partner With NYT On Snowden Reporting
Techdirt
| The Guardian made it clear that the reporting on the leaks would continue,
but out of its NY offices.
Hastings Family Member Slams Coroner as “Irresponsible”
David J. Krajicek | “The LAPD has done a really sloppy job investigating his
case.”
Video Footage of ‘Chemical Weapons Attack’ Uploaded
Before it Happened?
Paul Joseph Watson | Russia: Provocation was “pre-planned”.
The Coming Fukushima Global Disaster with Dr. Christopher
Busby
Infowars.com |
“New Leaks” have been discovered, 240 megatons of potentially explosive
radioactive material on site, mutations of local plants and wild life, etc.
Taxpayer
cost of housing NYC prisoners last year: $167,000 per inmate
NY Post
| “Jail is an expensive proposition, which is why you want to use it only when
you have to use it.”
The
Confidential Memo At The Heart Of The Global Financial Crisis
Greg
Palast | When a little birdie dropped the End Game memo through my window, its
content was so explosive, so sick and plain evil, I just couldn’t believe it.
“Hello
Scotia Mocatta, It’s JPMorgan… Yes, Again… We Need More Gold”
Zero
Hedge | It happened again.
They
Actually Expect Us To Have Faith In These Financial Markets After This Week?
Economic
Collapse | What in the world is happening to our financial markets?
Nasdaq outage
resembles hacker attacks
USA Today
| The incident had all the earmarks of the three waves of denial-of-service
attacks.
They
Actually Expect Us To Have Faith In These Financial Markets After This Week?
What in the world is happening to our financial
markets? Trading on the Nasdaq was halted on Thursday for more than 3
hours, and the only formal explanation that we got was that it was a
"technical issue". On Tuesday, Goldman Sachs made thousands of
"erroneous trades" that are now being canceled. If those trades
had not been canceled, it could have cost Goldman "hundreds of millions of
dollars" according to the Wall Street Journal. How nice for them
that they get a "do over". When Knight Capital made a similar
"trading error", they were not so fortunate. Our financial
system has become completely and totally dependent on computers, and that means
that it is extremely vulnerable. After what we have witnessed this week,
how can they actually expect us to have faith in these financial markets?
And what happens if these "technical issues" get even worse? (Read More....)
"Hello
Scotia Mocatta, It's JPMorgan... Yes, Again... We Need More Gold"
Submitted by Tyler
Durden on 08/23/2013 - 16:39
It
happened again.
Reads:
17,665
China's Unprecedented Demographic
Problem Takes Shape
Submitted by Tyler
Durden on 08/23/2013 - 19:32
Chinese
society is on the verge of a structural transformation even more profound than
the long and painful project of economic rebalancing, which the Communist Party
is anxiously beginning to undertake. As we
recently discussed, Stratfor
warns China's population is aging more rapidly than it is getting
rich, giving rise to a great demographic imbalance with important
implications for the Party's efforts to transform the Chinese economy and
preserve its own power in the coming decade. In fact, as BofAML notes, China's
working-age population peaked last year (3 years ahead of
demographers' schedule) representing a major turning point for the
world's economy.
Reads:
613
Detroit
Has Gone To The Dogs... Literally
Submitted by Tyler
Durden on 08/23/2013 - 18:54
Detroit
may be on its way to becoming a ghost town, but the disappearance of homo
sapiens from the streets just means the largest US bankrupt city is about to
have a new master - man's formerly best friend, in the form of tens of
thousands of stray dogs most of which happen to be a particularly vicious breed
of pit bulls. Step aside Motown, and say hello to Dogtown.
Reads:
4,165
Is The US In A
Recession?
Submitted by Tyler
Durden on 08/23/2013 - 17:51
We recently
discussed the possibility that the US is
"worse than Japan in the 90s" but, against all
consensus, we wonder, will the US soon enter a Recession or is it actually in a
Recession? Is there a possibility the US is in a Stealth Depression?
Reads:
5,521
Today's
Stock Ramp Caught On Tape
Submitted by Tyler
Durden on 08/23/2013 - 17:14
At
15:45:31 on a quiet Friday afternoon in August, someone decided that they
needed to buy 7,000 e-mini contracts (or $582 million notional of equity
exposure). By the end of that minute, 23,679 contracts had traded as
'someone' needed $2 billion notional expsoure to the S&P 500 as it traded
up to its highs of the day (and didn't care about phishing the entire order
book). What is perhaps just as intriguing is the patterns seen in the
options complex as VIX futures and ETFs were the first to crack as
330RAMPCAPITAL LLC stepped in, and then again as the mystery TWO-BILLION-BUYER
came to play at 345ET. All of which makes perfect sense to any rational human
asset manager or trader who cares not one bit about best execution, fiduciary
duty, or simply whether they win or lose... Here is the very visible
hand in all its glory...
Reads:
6,836
The
Week That Was: August 19th - 23rd 2013
Submitted by Tyler
Durden on 08/23/2013 - 16:35
Succinctly
summarizing the positive and negative news, data, and market events of the
week...
Reads:
2,186
Plunging
Home Sales Send Stocks Higher, But Dow Drops For Third Week
Submitted by Tyler
Durden on 08/23/2013 - 16:13
Despite
the best efforts of the efficient and idiotic things we call the US equity
markets - which exhibited the kind of epic VIX smashfest into the close - the Dow
was unable to be rescued from its 3rd red week in a row (the first in 9 months).
The S&P closed above its 50DMA (at the highs of the week) with a late-day
scramble (but Nasdaq ends the week +1.7%). So a very mixed bag for stocks and
the USD (thanks to today's post-home-sales dumpfest) ends the week unchanged.
The real story of the day (and week) though is precious metals and bonds. The 30Y
bond's best week in a month and best day in 5 months wa snotable but
perhaps more so, while the entire complex ripped lower in yield as the un-taper
un-housing-recovery data hit, the flattening of the 5s30s spread is extreme.
Gold and Silver spiked on the home-sales data ending the week up notably. The VIX-compression
into the close ended at 14.00% for the biggest 2-day drop in 2 months.
Reads:
4,173
Guest
Post: 1987 Redux
Submitted by Tyler
Durden on 08/23/2013 - 15:58
Let’s see. Consumers are carrying more debt than
they did in 2007. Corporations are carrying more debt than they did in 2007.
The Federal government is carrying 60% more debt than it did in 2007. Cities
and States are carrying more debt than they did in 2007. Interest rates have
jumped by 80% in the last three months. The economy is clearly in recession, as
retailer after retailer reports horrific results. Stocks are as overvalued as
they were in 1929, 2000, and 2007. China is experiencing a real estate
collapse. Japan is experiencing a cultural/economic/societal collapse. The
Middle East is awash in blood. The European Union is held together by lies,
delusion and false promises. What could possibly go wrong?
Reads:
9,959
Happy
Beardday Humor: Spot The Original
Submitted by Tyler
Durden on 08/23/2013 - 15:24
Reads:
8,566
Gold
Breaks Above $1,400
Submitted by Tyler
Durden on 08/23/2013 - 15:02
It
seems the crossing of the Maginot
100-day moving average combined with Jackson
Hole chatter and the dismal
new home sales data has set the precious metals ablaze once again. For the
first time since early June, gold has crossed the psychological $1,400 level
(up 18.5% from its 6/18 lows). We suspect the still-unprecedented
short-interest in COMEX gold futures may well be feeling more heat here (having
fallen 40% in the last 5 weeks)...
Reads:
11,250
Fact
Or Fiction: Goldman Sachs Is Blowing Up A Nursing Home (And No One Can Stop
Them)
Submitted by Tyler
Durden on 08/23/2013 - 14:46
While
none other than Meredith Whitney warned this morning (mere weeks after her
most-bullish-on-banks-ever call) that big US banks' revenue model is
unsustainable, we discover that the NYSE Amex Options exchange has
decided to DK all of Goldman's "erroneous" trades from Tuesday
morning's debacle. As The WSJ reports, this is quite a boon to the venerable
Goldman Sachs who faced hundreds of million in losses had the trades stood.
The fact that no one can ever touch the bank-that-shall-not-be-named should
come as no surprise (unsustainable business model or not) and as the following
'story' suggests, perhaps they truly are 'untouchable'.
Reads:
9,273
US
Equity Funds Post Largest Weekly Outflow Since November 2011
Submitted by Tyler
Durden on 08/23/2013 - 14:33
Curious
how the US retail investor is reacting to the surprising inability to BTFATH?
Bank of America explains how: by yanking the most cash from equity funds
since November 2011.
Reads:
4,735
NASDAQ
Claims "No Evidence Of An Attempted Intrusion Or Of An Unusual Burst Of
Quotation" ... Except For This
Submitted by Tyler
Durden on 08/23/2013 - 13:52
Perhaps
the most curious part from the just released and detailed Nasdaq post-mortem is
the following, which appears to be an attempt to answer our
remaining question from yesterday: "At approximately 12:03 p.m.,
Eastern Time (ET), the UTP SIP ceased dissemination via all outbound UTP Quote
channels. The UTP Trade feeds were not impacted by this outage and continued to
remain operational. The UTP SIP has no evidence of an attempted
intrusion into SIP systems or of an unusual burst of quotation or trading
messages in connection with yesterday's events." No evidence,
except for these (and many more) locked bids and asks and the associated Nasdaq
trading radio silence.
Reads:
7,427
Sell-Side
To Fed "Don't Leave Us Now"
Submitted by Tyler
Durden on 08/23/2013 - 13:47
In
spite of the prime-dealers
seeming agreement that SepTaper is most likely; judging by the plethora of
talking-heads and research pieces hitting in the last few days, the idea that a
Taper was a good thing (Tepper) and in fact indicates 'health' appears to be on
the back-burner as almost every sell-side shop is out with a discussion of just
how potentially bad things are macro-economically and that a taper should be
off the table. Below is BofAML's Ethan Harris' seven reasons to delay
the taper following today's "punch in the stomach for the economic
recovery story" (and our 4 reasons why they can't or won't).
Reads:
6,289
Yield
Rise "Blessing in Disguise" To Some, Nomura Says
Submitted by Tyler
Durden on 08/23/2013 - 13:25
While
many begrudge the rise in interest rates and their concomittant tightening of
financial conditions, Nomura's George Concalves notes that the move has been a
"blessing in disguise" for most long-only bond investors. Insurance
companies and pension-funds, who need 'yield' to cover long-term liabilities,
have been underweight since the Fed began Operation Twist (on the basis of the
yield became too compressed) but the recent sell-off in Treasuries (which does
not reflect any asset-allocation or great rotation since stocks have been just
as weak) enabled these funds to put money to work. This helps
to explain the very notable flattening in the yield curve (5s30s -17bps in the
last week) as duration extension is more economically attractive. Concalves
suggests Taper fears are overdone and that should rates back up another
25bps, there is more dry-powder to put to work in bonds.
'SHORTY'
LEFT FOR DEAD...
WWII
vet, 88, beaten to death by black teens...
Beat
him with flashlights...
Buchanan:
'Interracial violence is overwhelmingly black-on-white'...
Police:
Man doused with gasoline, set on fire in vacant lot...
Hot
Dog Vendor Beaten With Hammer, Robbed of Cell Phone... { Yes … the uncivilized
niggers strike again! }
RACE
IN AMERICA
Dead
souls of a cultural revolution
Pat
Buchanan: 'Interracial violence is overwhelmingly black-on-white'
Patrick J. Buchanan About | Email | Archive
Pat Buchanan was twice a candidate for the
Republican presidential nomination and the Reform Party's candidate in 2000. He
is also a founder and editor of The American Conservative. Buchanan served
three presidents in the White House, was a founding panelist of three national TV
shows, and is the author of nine books. His latest book is "Suicide
of a Superpower: Will America Survive to 2025?"
Last
Friday, Christopher Lane, a 22-year-old Australian here on a baseball
scholarship, was shot and killed while jogging in Duncan, Okla., population
23,000. He died where he fell.
Police have
three suspects, two black and one white. The former said they were bored and
decided to shoot Lane for “the fun of it.”
As
Lane was white and the shooter black, racism has surfaced as a motive. Thursday
came reports that killing a white man may have been an initiation rite for the
black teens in joining some offshoot of the Crips or Bloods.
What
happened in Oklahoma and the reaction, or lack of reaction to it, tells us much
about America in 2013, not much of it good.
Teenagers
who can shoot and kill a man out of summertime boredom are moral barbarians,
dead souls.
But
who created these monsters? Where did they come from? Surely one explanation
lies in the fact that the old conscience-forming and character-forming
institutions – home, church, school and a moral and healthy culture fortifying
basic truths – have collapsed. And the community hardest hit is Black America.
If
we go back to the end of World War II, 90 percent of black families consisted
of a mother and father and children raised and disciplined by their parents.
The churches to which these families went on Sundays were stronger. Black
schools may have been largely segregated, but they were also the transmission
belts of patriotism and traditional values rooted in biblical truths and a
Christian faith.
Though
such schools graduated hardworking, law-abiding and productive citizens, today
they would be closed as unconstitutional.
Indeed,
all of those character- and conscience-forming institutions of yesterday are in
an advanced state of decline today.
Seventy-three
percent of black kids are born to single moms. Black kids who make it to 12th
grade may often be found reading at seventh-, eighth- or ninth-grade levels. In
some cities the black dropout rate can hit as high as 50 percent.
Drugs
are readily available. And among black males ages 18 to 29, in urban areas,
often a third are in prison or jail, or on probation or parole, or walking
around with a criminal record.
Where
do the kids get their ideas of right and wrong, good and evil? In homes where the
father is absent and the TV is always on. From radios tuned in to rap and
hip-hop. From films where Hollywood values prevail and the shooting never
stops. From street gangs that sometimes form the only families these kids have
ever known.
Still,
crime has fallen since 1990, we are told.
And
so it has. But that is only because the baby boomers, the largest population
cohort in our history, passed out of the high-crime age group a quarter of a
century ago, and because the jail and prison population in America has tripled.
Order Pat
Buchanan’s brilliant and prescient books at WND’s Superstore.
What
kind of leadership do we see today in Black America?
What
can be said for an NAACP that was lately demanding a Justice Department
investigation of a rodeo clown running around a bull ring in rural Missouri in
an Obama mask, but cannot find its voice to address a black-on-white atrocity
in Middle America?
When
Trayvon Martin was shot to death in a murky incident in Sanford, Fla., Jesse
Jackson rushed there to declare: “Blacks are under attack. … Killing us is big
business.” Trayvon was “shot down in cold blood by a vigilante … murdered and
martyred.”
After
Chris Lane’s cold-blooded murder, Jesse tweeted: This sort of thing is to be
“frowned upon.”
If
I had a son, said President Obama, he would have looked like Trayvon; 35 years
ago, I could have been Trayvon. Can the president not find his voice to speak
to the parents of Chris Lane?
Since
Lyndon Johnson took office, 50 years ago, we have spent trillions on his
programs for health care, housing, education, food stamps, welfare and civil
rights. Are we living in that Great Society we were promised?
In
that same decade, we were told that the social, cultural and moral revolution
bursting forth on the campuses would rid us of the repressive old-time morality
and Old Time Religion, and lead to a more equal, just, humane and better
America, a beacon to mankind.
Yet,
are not the killers of Chris Lane who shot him for the fun of it the
“do-your-own-thing!” children of that cultural revolution?
The
death of Trayvon was said to be reflective of the real America, a country where
black folks live in constant fear of white vigilantes and white racist cops.
What nonsense.
In
the real America, interracial violence is overwhelmingly black-on-white. Even
if the media will not report it, everybody knows it.
And
journalists will not dig into the numbers that prove it, for the truth would
undermine their ideology and contradict the narrative that governs and gives
meaning to their lives.
For
liberals, America is always “Mississippi Burning.” It just has to be that way.
If
You Could Make More Money By Going On Welfare Instead Of Working, Would You Do
It?
If you could stay home and relax all day and actually make
more money than you do at your current job, would you do it? That sounds
crazy, but this is actually a very real dilemma for millions upon millions of
Americans. According to a shocking new study that was just released by
the Cato Institute, people on welfare are actually better off than minimum wage
workers in 35 U.S. states. And in 13 states, those on welfare actually do
better than those making $15 an hour. So why bother? It is very difficult to find a job in this economy,
especially a good one. As I mentioned yesterday, seven out of every eight
jobs that have been "created" since Barack Obama has been
president have been part-time jobs. Why slave away flipping burgers,
stocking shelves for some retail giant or working for some temp agency when you
could just sit home and make more money collecting government checks?
Yes, there is definitely a minority of Americans that hate the idea of becoming dependent on the
government and would never want to take advantage of the system like that,
but that minority seems to be shrinking. At this point, about half the
country gets money from the government each month anyway, so why not collect
"your share"? If someone is offering to give you something for
free, it is only human nature to be at least a little bit tempted. And
right now the federal government is making it extremely tempting to give up on
work entirely and become a permanent welfare check collector. (Read More....)
Chris
Lane shooting was 'gang initiation'...
PAPER:
Threatened to kill teen who wouldn't join offshoot of Crips...
Racist
tweets: '90% of white ppl are nasty. #HATE THEM'...
'Chilling'
911 call...
HS of charged teens receives threats...
TIME:
'Don't Ignore Race'...
White
House spokesman 'not familiar with' case...
More
than half of world's exchanges hacked last year...
Cramer: We need a
disaster plan!
UPDATE:
Chris Christie's opponent to campaign in Jersey Shore tent city...
OBAMA
WARNS: 'Some point, the government will run out of money'...
Campaign
blames Congress for school shootings...
DUNKIN'
DONUTS worker beaten, pistol-whipped over botched coffee order... {
Niggers, of course! }
VIDEO...
Doctor:
'Sleep Texting' Becoming Common Problem For Smartphone Owners...
Video Footage of ‘Chemical Weapons Attack’ Uploaded Before it
Happened?
Paul Joseph Watson | Russia: Provocation was “pre-planned”.
Chicago Police Implement Precrime Tactics
Kurt Nimmo
| Preemptive arrest and detention characteristic of authoritarian and
totalitarian governments.
Leaked Document Reveals Government Paid Millions to PRISM
Participants
Julie Wilson
| Government offered millions to tech companies in exchange for unlimited
consumer data access.
Is the Media Covering Up the Beginnings of a Race War?
Paul Joseph Watson & Alex Jones | No national debate over spate of black on
white crimes.
Wash. City Sued Over ‘Peeping Tom’ Hidden Surveillance
Cameras in Jail Cells
Adan Salazar
| Footage captured “attractive” females changing clothing and urinating.
Snowden: UK Government Intentionally Leaking Harmful
Information To Blame Whistleblowers
Steve Watson
| Those at centre of surveillance scandal say government is running a false
flag operation.
U.S. Sets Syria Invasion in Motion Following Reported
Chemical Attack
Kurt Nimmo
| Obama’s “red line” allegedly crossed, U.S. and allies can now prepare to
finally unseat al-Assad in Syria.
US-Trained Rebels Moved Towards Damascus Days Before
‘Chemical Attack’
Paul Joseph Watson | Lawmakers who opposed arming FSA militants “reconsider
intervention”.
Nowhere to
Hide Posted
by: Capitalist
Exploits Post date: 08/22/2013 - The war
against privacy is ultimately being fought to make sure you don't keep anything
hidden when the global government funding crises comes to a head.
Post-China
16 Posted by:
Pivotfarm Post date: 08/22/2013 - There’s always someone waiting to dethrone the
one in the position at the top of the roost, isn’t there?
American,
Israeli And Jordanian Troops And CIA Agents Have Entered Syria, Le Figaro
Reports
Submitted by Tyler
Durden on 08/22/2013 - 16:22
We
have yet to see secondary confirmation of the following breaking news from the
second largest French newspaper, Le Figaro, but if accurate, it means the Nobel
Peace Prize winning president has just engaged in yet another unsanctioned by
Congress war.
Five
Hours Later NASDARK Speaks: Twas But A "Glitch"
Submitted by Tyler
Durden on 08/22/2013 - 18:09
NASDAQ
SAYS WILL WORK WITH OTHER EXCHANGES ON `GLITCH'
NASDAQ
STATEMENT SAYS 'TECHNICAL ISSUES RESOLVED'
NASDAQ
SAYS TECHNICAL ISSUES WERE RESOLVED IN FIRST 3O MINUTES
NASDAQ
SAYS IT COORDINATED WITH OTHER EXCHANGES FOR REOPENING
NASDAQ
SAYS THAT PRICE QUOTES WEREN'T BEING DISSEMINATED BY SIP
NASDAQ
SAYS BALANCE OF TRADING WAS DAY WAS FINISHED IN NORMAL COURSE
NASDAQ
SAYS IT SUPPORTS ANY STEPS NEEDED TO ENHANCE PLATFORM
The
Grand Experiment: Offloading Risk Onto The State
Submitted by Tyler
Durden on 08/22/2013 - 17:33
From the historical perspective, concentrating
virtually all systemic risk into the state is a Grand Experiment.
Cheap, abundant oil, expanding working-age populations and rapidly increasing
productivity conjured the illusion that the state was large enough and
powerful enough to absorb infinite risk with no real consequence. The
problem is the state's ability to tax/print/borrow money to cover
payouts and losses is not infinite. Having transferred virtually all
systemic risks to the state, we presume the state is so large and powerful that
a virtually limitless amount of risk can be piled onto the state with no
consequences. Offloading risk onto the state does not make the risk vanish;
it simply concentrates the risk of collapse into the state itself.
Hitler
Finds Out About The NASDAQ Halt
Submitted by Tyler
Durden on 08/22/2013 - 17:23
Well,
that was fast.
The
Line Every Gold Trader Is Watching
Submitted by Tyler
Durden on 08/22/2013 - 17:01
From
Indian leases to negative GOFOs, from Chinese physical demand to Western bank
paper gold deleveraging, and from practical mining cost floors to the ongoing
playing out of the grandest experiment of monetary policy in history; there are
a plethora of drivers for the price of the precious metal. But, for now, the
only thing that counts is the 100-day moving average as gold prints its first
positive closing breakout of 2013.
Market
Soars On NASDARK Day
Submitted by Tyler
Durden on 08/22/2013 - 16:10
The
Dow has its best day since August 1st but its the NASDARK that takes
the biscuit with a 1.4% gain - its best day in 6 weeks. S&P 500
futures ramped all the way to recent highs, snagging stops all the way to its
50DMA once again. Trannies were the big short-squeeze high-beta
muppet-killers today though +2%!! While the topic du jour will be the
total farce that US equity markets have become, there was action away from
stocks that bears noting. The refunding news sent the Treasury market
diverging with the belly getting smacked higher in yield as the long-end
rallied (the forward curve's biggest drop in 4 months). That
won't help NIM but, of course, financials didn't care as the so-called 'market'
lifted stocks with abandon. Commodities in general rose with WTI best breaking
back above $105 (and Gold above $1375 - closing above its 100DMA). The USD
ended modestly higher as JPY pushed weaker all day. AAPL had quite
day, losing $500 and then regaining on the back of Icahn's save (perfactly
tagging VWAPs all the way). BTFH!!!!
And
Now The NYSE Breaks: NASDAQ HAS DECLARED SELF HELP AGAINST NYSE ARCA
Submitted by Tyler
Durden on 08/22/2013 - 15:43
Wondering
why the ES is soaring? Because the NYSE just broke too.
NASDAQ
HAS DECLARED SELF HELP AGAINST NYSE ARCA (ARCA)
NASDAQ
DECLARES SELF HELP AGAINST NYSE ARCA AS/OF 15:26:42 E.T
NYSE
ARCA HAVING DIFFICULTY PROCESSING OUTBOUND TAPE C QUOTES
And
BATS too:
BATS
HAS DECLARED SELF-HELP AGAINST ANOTHER MARKET CENTER
BATS
SAYS ROUTING TO NYSE ARCA HAS BEEN SUSPENDED AS OF 15:39
An
absolute circus meant only to preserve confidence in a rigged, manipulated
system based on incorrect electronic trades.
The
NBBO Breaks: AAPL Offers Are Below Bids
Submitted by Tyler
Durden on 08/22/2013 - 15:40
The
Nasdaq was so desperate to rush and "fix" itself, somehow in the
process it forgot all about the NBBO and that the bid has to be below the ask.
And... We Reopen
Submitted by Tyler
Durden on 08/22/2013 - 15:37
Markets
are 'turmoiling'...but stocks are mostly opening green green green... even as
bonds hit new high yields... The market mist be fixed though - AAPL is back
above $500...
The
Primary Dealers Have Spoken: Taper Begins September With $15 Billion Trim; QE
Ends June 2014
Submitted by Tyler
Durden on 08/22/2013 - 14:52
Back
on July 17, the New York Fed, which as always operates based on the decisions
and inputs of its Primary Dealer superiors, asked the Dealer community for
their thoughts on the Taper, specifically when and how much. The survey has
come back and the PD community has spoken. The answer: Taper is
announced, and begins, September with the first reduction in monthly purchases
of $15 billion ($10Bn cut in TSY purchases, $5BN cut in MBS), eventually
tapering to nothing in June 2014 when the Dealers believe QE formally ends.
Icahn
Tweets The AAPL Rescue Orders
Submitted by Tyler
Durden on 08/22/2013 - 14:42
NASDAQ
Will Try To Resume Trading Between 2:45 PM And 3:10 PM
Submitted by Tyler
Durden on 08/22/2013 - 14:28
NASDAQ
intends to re-open trading in all Tape C securities with a 15-minute quote only
period. All stale quotes have been cleared from the UTP SIP at this time and
halts have been disseminated with a reason code of T6. NASDAQ will first
re-open trading in symbols ZVZZT and AAIT with a 15-minute quoting period
beginning at 14:30, with trading beginning at approximately 14:45.
All other securities will then be released at 14:55 with a 15-minute quote only
period with trading resuming at approximately 15:10. NASDAQ will not be
cancelling open orders on the book prior to a re-open. Customers who wish to
cancel their orders may do so and any customer who wishes to not participate in
the re-opening should cancel their orders prior to the resumption of trading.
(Almost)
Everything Halted Due To "Extraordinary Market"
Submitted by Tyler
Durden on 08/22/2013 - 14:18
The
entire Bloomberg news feed has been overtaken with "Regulatory Halt -
Extraordinary Market" messages for the last few minutes... it would seem
agood time to drop that 'lowered outlook' PR or invade Syria?
Designing
A Better Fed/Market/Smartphone/Whatever
Submitted by Tyler
Durden on 08/22/2013 - 13:54
The
world of Industrial Design is often useful to assess everything from the
Federal Reserve's current monetary policy to equity market
structure (particularly timely given today's total SNAFU) to the
timeless debate over the real value of gold. As ConvergEx's Nick Colas reminds,
good design is innovative, useful, aesthetically pleasing, honest and durable,
whether those attributes relate to a new electronic gadget or any 'Product' in
the world of high finance or economics. Examples of "Good
design" include stocks, bonds, and options – all simple, durable constructs.
"Bad design" would be the Fed’s "Taper" and current
equity market structure.
Did
AAPL Breaking $500 Cause The Nasdaq To Implode?
Submitted by Tyler
Durden on 08/22/2013 - 13:25
While
we somewhat ironically tweeted of the possibility that AAPL breaking back below
the mythical $500 level was indeed responsible for the NASDAQ breaking...
Well
a glance at the following charts shows from Nanex that may well have been
the case as the chaos in the market during that time was extreme to say the
least...
Guest
Post: The Source Of Systemic Crisis: Risk And Moral Hazard
Submitted by Tyler
Durden on 08/22/2013 - 09:54
There are all sorts of candidates for the
root cause of the systemic global financial crisis, but if we separate the
wheat from the chaff we're left with risk and moral hazard. Pointing to human
greed and cupidity as the cause doesn't identify anything useful about this
era's crisis, as human greed, self-interest and opportunism are default
settings. Programs that backstop banks and social insurance systems
like Medicare are not like fire or life insurance because they are effectively
open-ended in terms of costs and in exposure to risk. A system which
pools risk without distributing it to the participants and eliminates the
causal connection between risk and consequence introduces moral hazard
on a grand scale.
BLS, We Have A Problem: Polled
Unemployment Soars To March 2012 Levels
Submitted by Tyler
Durden on 08/22/2013 - 09:27
Gallup
tracks daily the percentage of U.S. adults, aged 18 and older, who are
underemployed, unemployed, and employed full-time for an employer, without
seasonal adjustment.
Due to the lack of Arima-X 'magic' the results are
specifically not comparable to the BLS data, but, as the chart below suggests,
the correlation is high. What is most worrying about the latest data is the rapid
rise in both unemployment and underemployment that the Gallup poll finds (to
8.9% unemployment and 17.9% underemployment. Unemployment rates
have jumped notably in the last month to their highest in 13 months. Will
the Fed 'allow' this data to filter into the BLS data and 'avoid the Taper' or
are there non-economic reasons (G-20,
deficits,
technicals,
sentiment)
that the Fed needs to SepTaper.
So
Far 1.3x Greeces Have Been Bailed Out... And More Is Coming
Submitted by Tyler
Durden on 08/22/2013 - 09:08
Schaeuble
and Merkel have very recently confirmed what was leaked a month ago - that Greece
will likely get yet another 'helping hand' aid program. Some have
noted that this may be financed using EU funds instead of additional loans from
EU-area countries (or the IMF) yet Merkel's comments (perhaps playing to her
electioneering needs) appeared to dismiss this - prompting talk of a
'bail-in' based on the new normal 'template' applied to Cyprus. Greece
has so far received two bailout packages totaling EUR240 billion (with about
EUR22 billion still to be released) which is 130% of Greece's GDP (which stands
at EUR186.2 billion) and while the thord package appears smaller (for now) at
EUR10.9 billion (based on IMF funding gap forecasts), this covers only the
period through 2015 (and we know how accurate the IMF has been in the past with
its hockey-sticks). Greece remains mired in the sixth year of a
recession with more than 6 out of 10 young people unemployed.
Initial
Claims Rise To Highest Since July 19, Biggest Miss In 6 Weeks
Submitted by Tyler
Durden on 08/22/2013 - 08:48
While
largely noise in the context of the big picture, last week's multi-year low in
initial claims of 320K (revised upward as usual to 323K), driven in big part by
the specific furlough situation at the automakers, reversed and rose by 13K to
330K, or 6K higher than expectations. This was the highest claims number since
July 19, the biggest miss to expectations and also the largest weekly jump in 6
weeks. Notably, the entire move was due to seasonal adjustments: the unadjusted
claims number declined even more, dropping from 283K to 279K, although with the
market at a point where bad news is desperately needed to provide even the
tiniest bounce to risk, the adjustment is now meant to distort the underlying
data lower not higher.
The
Secret Document That Proves China Considers The United States To Be A Mortal
Enemy
If you believe that China is our “friend”, then you have
been deceived. While U.S. politicians, the mainstream media and the U.S.
military may consider China to be a “friend” and a “partner”, the Chinese see
things very, very differently. As you will see below, documents produced
at the highest levels of the Chinese government make it abundantly clear that
China considers the United States to be a mortal enemy. Unfortunately, in
the west we have naively assumed that if we opened up trade with China that
they would want to be more like us. Instead, opening up trade with China
has allowed them to severely damage us economically
while continuing to loudly denounce “western constitutional democracy” at the
same time. (Read More.....)
Why
Is The Government Leaving Our Most Critical Infrastructure Wide Open To Terror
Attacks?
If
the federal government is so concerned about the threat of terrorism, then why
is it doing so little to protect our most critical infrastructure? The
control freaks in charge of our “national security” seem to be absolutely
obsessed with watching us and
taking away our liberties and freedoms, but meanwhile they are leaving many
of the most important potential targets virtually unguarded. It is almost
as if they are not even concerned that terrorists might attack them. For
example, as you will see below, not a single one of our 104 commercial nuclear
reactors would be able to handle a “maximum credible terrorist attack”.
The federal government also refuses to spend the money necessary to protect our
electrical grid from being fried by a massive EMP blast even though the earth
had a “near miss” just a few weeks ago.
And the Obama administration continues to leave the U.S. border with Mexico
completely wide open even though it has been heavily documented that (Read More....)
When
“QE Infinity” Turns Into A Pipedream: Hot Money Evaporates, Rout Follows – See
Emerging Markets
Posted by : testosteronepit
Post date: 08/21/2013 - The Fed and other central
banks have accomplished a huge feat: a worldwide tsunami of hot money. Which is
now receding.
Indian
Death Lock
Posted by: Pivotfarm
Post date: 08/21/2013 - The Rupee has taken
a severe hammering and has lost 44% of its value in the
past two years. It was at its lowest point yesterday against
the Dollar.
CoNGRaTuLaTioNS
FuHReR!
Posted by: williambanzai7
Post date: 08/21/2013 - On the occasion of August 21,
2013
CoNGRaTuLaTioNS
FuHReR!
Submitted by williambanzai7 on
08/21/2013 12:48 -0400
Original
painting by George Grosz
Here's
a societal fail
Our
data is now up for sale
A
terrible sign
Be
cautious online
You're
leaving a dangerous trail
The
Limerick King
WB7:
Here
is something to ponder folks.
Have
you heard so much as a peep about any of these outrages coming from the
billionaire self proclaimed Silicon Valley paragons of information and internet
freedom?
Do
you hear them expressing outrage that truth and liberty are being persecuted on
a daily basis?
This
is data we are talking about. Hard drives, not hamburgers.
Are
they in fighting the good fight for digital liberty?
Of
course not.
Why?
Because
they are wearing the other fucking jack boot that's why.
I
am very sorry, but signing a disingenuous letter imploring the government:
"oh pretty please allow us to disclose the myriad of ways everyone
is getting data fucked", does not cut it.
Just
don't forget the blanket indemnity Bro.
You
know what?
They
can float all the stratospheric bullshit about ballooning connectivity to the
poor, suffering and disadvantaged peoples of the world.
And
while they are at it, they can all go and fuck themselves.
There
Is No Scenario Where This Ends Well
Submitted by Tyler
Durden on 08/21/2013 - 17:36
Luckily, the average American is so bad at
math they can’t read this chart and understand the implications.
UPS
Drops 15,000 Spouses From Health Plan, Blames Obamacare
Submitted by Tyler
Durden on 08/21/2013 - 18:32
The
unintended consequences of Obamacare are coming thick and fast (and not just
from tin-foil-hat-wearing
blogs, mainstream
media, or political
party ignorance). This time it is UPS, who announced that due to
the higher costs under Obamacare will drop 15,000 spouses from its health
insurance plan. As CNN
reports, an internal document obtained by Kaiser Health News said the
policy will apply to non-union US workers (saving what is expected to be a $60
million rise in costs). More 'anecdotal
evidence'... UPS justified its move by saying that 35% of
companies intend to do the same thing...
Is
A Foundering India About To Flood The Gold Market With 200 Tons Of
"Leased" Gold
Submitted by Tyler
Durden on 08/21/2013 - 18:05
The
truth behind the saying "never let a crisis go to waste" transcends
both time and space, and it most certainly has no problem crossing the border
into India, which over the past weeks has found itself in full monetary crisis,
and whose currency is plunging to fresh record lows on a daily basis forcing
its central bank to scramble with both tightening and QE at the same time. And
if the influential Hindu Business Line, is correct, India's crisis is about to
become someone's opportunity. Potentially for that someone which over
the past two months has found themselves in a huge physical gold shortage as
the now constantly
negative GOFO rates confirm. Because according to Royal Bank of India
sources cited by the HBL, India is now considering leasing out the 200
tonnes of gold it bought from the International Monetary Fund in 2009.
Goldman's
FOMC Post-Mortem: "Tapering Likely In September"
Submitted by Tyler
Durden on 08/21/2013 - 17:54
While
we
found it modestly comedic (and certainly ironic) that CNBC's crack team
celebrated the recovery from the initial knee-jerk drop in stocks after the
FOMC by top-ticking that suspension of reality; we suspect the following
post-mortem from Goldman on the minutes is what confirmed concerns across the
street... "Minutes from the July 30-31 FOMC meeting
were generally consistent with our view that tapering of asset purchases is
likely to occur at the September meeting, coincident with an
enhancement of the forward guidance."
NSA
Admits It "Acquires" Your Internet Data From These Redacted Internet
Service Providers
Submitted by Tyler
Durden on 08/21/2013 - 16:10
Dow
Slumps To 6-Day Losing Streak As Cramer Top-Ticks Fed Reaction
Submitted by Tyler
Durden on 08/21/2013 - 16:10
UPDATE: S&P
futures are sliding modestly lower after-hours approaching the 100DMA at 1627
As
Cramer, Liesman, and Terranova circle-jerked over stocks' algo-driven reaction
to the knee-jerk dump after the Fed minutes were released, it was clear that
bonds had not drank the same JPY-weakness-from-USD-safety-flow-based carry
exuberance that stocks had. After ramping on the back of a VIX/JPY squeeze -
all the way to yesterday's late-day cliff-dove levels, stocks collapsed back
towards the day's lows (and are below them in the after-market). The Dow
is down 6 days in a row - the worst run in almost 14 months (and the biggest
6-day drop in 9 months). Bonds were slammed and really never looked
back after the minutes (with the belly +10bps or so!) offering a reality check
for anyone gazing dream-like at stocks. Post-minutes, the S&P is -8points,
10Y yields +7bps, USD +0.2%, WTI -0.1%, and gold down a mere $2.
Private
Banker: "Is There Any Good News?"
Submitted by Tyler
Durden on 08/21/2013 - 15:48
“Is
there any good news?”
You
bet.
The good news is that this fraudulent system of unchecked,
unbacked paper currency is finally coming to an end.
Meanwhile,
Back In The World Of Big Barack Brother...
Submitted by Tyler
Durden on 08/21/2013 - 15:15
The
'Alternative' Fed Minutes Word Cloud
Submitted by Tyler
Durden on 08/21/2013 - 15:14
Presented
with no comment...
Chart
Of The Day: The E-Mini (With A Bon(d)us Chart)
Submitted by Tyler
Durden on 08/21/2013 - 14:59
Behold
a binary market in all its stop-hunting glory.
Post-FOMC
Minutes Update: Stocks Confused; Bonds Not!
Submitted by Tyler
Durden on 08/21/2013 - 14:40
UPDATE:
It appears all that mattered to the algos was to get the S&P green... (run
those stops) S&P now +6pts, 10Y +5bps, USD unch, WTI unch Gold +$5... now
watch USDJPY to see where stocks go next...
The
initial reaction to the Fed minutes was to sell first and ask questions later -
in everything. Of course, after plunging 10 points, the S&P bounced
algorithmically up to its balance point at VWAP (and unch from FOMC) only to
glance across at the carnage in the bond market (which didn't bounce) and sell
back down. Bonds are trading at their post-FOMC minutes high yields
(dominated by weakness in the 5Y/7Y belly), the USD is pushing higher, gold and
silver oscillating slightly lower (and copper up). The USD strength is flopping
over into JPY weakness and confusing algos that are once again pumping stocks
up to VWAP... as we post, from pre-minutes: S&P 500 is unch, Gold
is unch, USD is up small, but the 10Y Yield is up 5bps!
"What
The Fed Really Said" - Hilsenrath's FOMC Cliff Notes (In Under 4 Minutes)
Submitted by Tyler
Durden on 08/21/2013 - 14:28
FED
STAFF A TAD MORE PESSIMISTIC ABOUT THE NEAR TERM ECONOMY, BUT STICKS TO ITS
GUNS
FED
OFFICIALS ALSO SHOWED SOME ANGST ON THE ECONOMY
FED
OFFICIALS UNCONVINCED ABOUT LABOR MARKET IMPROVEMENTS
MIXED
VIEWS ON LOW INFLATION
FED
OFFICIALS THOUGHT THE MARKET HAD IT ABOUT RIGHT IN LATE JULY
MIXED
VIEWS ON THE DAMAGE OF RATE BACKUP
NO
CHANGE IN THE STANCE ON BOND BUYING
OFFICIALS
DECIDED THEY HAD ALREADY SAID ENOUGH
CHANGES
IN INTEREST RATE GUIDANCE ARE ON THE TABLE
OFFICIALS
CONSIDERED PATIENCE IN UNWINDING BOND PROGRAM
The
"Unwinding Of Unsustainable Speculative Positions", Or How The Fed
Welcomes The Popping Of Its Own Bubble
Submitted by Tyler
Durden on 08/21/2013 - 14:14
"Some
participants also stated that financial developments during the intermeeting
period might have helped put the financial system on a more sustainable
footing, insofar as those developments were associated with an
unwinding of unsustainable speculative positions or an increase in
term premiums from extraordinarily low levels."
"Broad
Support For Bernanke Tapering Timeline" FOMC Minutes Say
Submitted by Tyler
Durden on 08/21/2013 - 14:05
While
some read the FOMC statement in July as more 'dovish' than expected - even
though the market's performance since suggests otherwise -, it appears the
actual conversations from the minutes point in a more 'Taper'-on direction
(though clearly uncertainty remains high):
*A
FEW ON FOMC URGED PATIENCE, OTHERS FAVORED QE TAPERING SOON
*FOMC
MINUTES SHOW BROAD SUPPORT FOR BERNANKE TAPERING TIMELINE
*FOMC
PARTICPANTS SAID SEQUESTRATION 'CLOUDED THE OUTLOOK'
*FOMC
PARTICIPANTS PREDICTED GDP TO PICK UP IN 2ND HALF 2013
*ALMOST
ALL FOMC PARTICIPANTS BACKED 'CONTINGENT OUTLOOK' FOR QE
*FOMC
SAID JUNE PAYROLL REPORT SHOWED 'CONTINUED SOLID GAINS'
Pre-minutes:
S&P (Fut) 1646, 10Y 2.8125%, USD 81.2, WTI $104.11, Gold $1371
Spot
The Odd One Out Since The FOMC Statement
Submitted by Tyler
Durden on 08/21/2013 - 13:49
Presented
with little comment aside to ask - is this what 'consensus' would have
expected?
S&P
500 -40 points, 10Y Yield +17bps, USD Index -0.75%, WTI Crude -0.9%, and Gold
+$60
As Predicted, Chis Lane Murder Was Gang Initiation Yet No
Calls for ‘Justice’
Anthony Gucciardi | Obama and other talking heads who were screaming from the
rooftops over the Trayvon Martin case do not care.
Gunshot Wound to Dzhokhar’s Face Contradicts Original
Boston Bombing Narrative
Julie Wilson
| Medical report reveals Dzhokhar Tsarnaev suffered from fractured skull due to
gunshot wound to the face.
Obama’s Former Information Czar On Panel To Review NSA
Steve
Watson | Authoritarian Cass Sunstein previously called for banning opinions
that differed from government.
War Propaganda: Bogus “Infant Incubator” Testimony Used
to Justify Gulf War
Infowars.com
| Prior to Operation Desert Storm, 15-year-old Kuwaiti girl gives completely
fictionalized account of Iraqi treatment of infants.
Syrian Chemical Attack “A Provocation Planned in Advance”
Kurt Nimmo
| Disputed email foretells plan to stage chemical attack blamed on al-Assad.
Expert: Chemical Weapons Victim Footage Appears “Set-Up”
Paul Joseph Watson | Behavior of victims not consistent with alleged injuries.
Michael Hastings Feared His Mercedes Had Been Tampered
With
Paul Joseph Watson | Day before crash: “He was afraid to drive his own car”.
Presidential Meeting Signals Catastrophic Event
Mac
Slavo | Are we on the brink of another global disaster?
The
Confidential Memo at the Heart of the Global Financial Crisis
Vice
| Memo reveals treasury officials secretly conspired with small cabal of
bankers to rip apart financial regulation across the planet.
Wells
Fargo to cut 2,300 mortgage jobs as refinancing slows
Reuters
| Mortgage refinancing made up more than 70 percent of U.S. home lending volume
in the first half of 2013.
Presidential
Meeting Signals Catastrophic Event
Mac
Slavo | Are we on the brink of another global disaster?
Gunshot Wound to Dzhokhar’s Face Contradicts Original
Boston Bombing Narrative
Julie Wilson
| Medical report reveals Dzhokhar Tsarnaev suffered from fractured skull due to
gunshot wound to the face.
Obama’s Former Information Czar On Panel To Review NSA
Steve
Watson | Authoritarian Cass Sunstein previously called for banning opinions
that differed from government.
Expert: Chemical Weapons Victim Footage Appears “Set-Up”
Paul Joseph Watson | Behavior of victims not consistent with alleged injuries.
Bad News For Chelsea E. Manning: US Army Won’t Provide
Hormones, Sex-Reassignment Surgery
Zero Hedge
| Some bad news for Pvt. Bradley Chelsea Manning, who was sentenced
to spend 35 years in male prison.
“Tepco Has Lost Control” – What Is Really Happening At
Fukushima In Four Charts
Zero Hedge
| “Tepco Has Lost Control”.
Vermont completely nullifies federal hemp ban
Michael Lotfi
| Vermont has become the most recent state to take a stand against the federal
government and nullify the federal ban on hemp cultivation.
Michael Hastings Feared His Mercedes Had Been Tampered
With
Paul Joseph Watson | Day before crash: “He was afraid to drive his own car”.
US Has “Strong Indications” Assad Used Chemical Weapons;
Russia Says Rebel False Flag
Zero
Hedge | The US is back at it again.
Nasdaq outage
resembles hacker attacks
USA Today
| The incident had all the earmarks of the three waves of denial-of-service
attacks.
125
shopping days left: Retailers start Xmas deals
CNBC.COM
| Even before the school bells are ringing for many families, retailers are
sounding sleigh bells.
Obamacare,
immigration reform may make immigrants cheaper to hire than citizens
Washington
Examiner | Would it be cheaper for U.S. companies to hire newly legalized
immigrants instead of Americans, as immigration-reform legislation pending in
Congress would allow?
Is
A Foundering India About To Flood The Gold Market With 200 Tons Of “Leased”
Gold
Zero
Hedge | The truth behind the saying “never let a crisis go to waste” transcends
both time and space.
Syria gas attack story has whiff of Saudi war propaganda
William Engdahl | We are well-advised to leave reports in category of war
propaganda, in league with others such as the Gulf of Tonkin.
Corporate Media Portrays Michael Hastings as Meth User
Kurt Nimmo
| Media also reports Hastings’ use of medical marijuana.
Cricket Protein Bars Coming to a Store Near You?
Adan Salazar
| “People are ready to hear about how they can eat insects.”
Corporate Media Begins Chemical Attack Propaganda Ahead
of Syrian Invasion
Kurt Nimmo
| Establishment media sources base conclusions on information by CIA’s FSA and
terror organizations al-Nusra and al-Qaeda.
Greenwald Slams “State-Loyal” Meek Journalists For
Defending “Empire”
Steve
Watson | “They believe in subservient journalism; curtseying to the Queen”.
Air Force Master Sergeant Reassigned for His Religious
Views Opposing Gay Marriage
Julie Wilson
| “People of faith don’t have a place in the military anymore.”
Gun Confiscation Begins in California
Kit Daniels
| Agents perform full-blown home raids for legally-purchased firearms.
Author Of Terror Law: UK Authorities Acted Illegally By
Detaining Miranda
Steve
Watson | “Publication in the Guardian is not instigating terrorism.”
Study:
Welfare pays more than work in 35 states
The Daily Caller | In 13 states, welfare pays more than $15 an hour.
33
Shocking Facts Which Show How Badly The Economy Has Tanked Since Obama Became
President
Economic
Collapse | Barack Obama has been running around the country taking credit for
an “economic recovery”, but the truth is that things have not gotten better
under Obama.
Bill
Clinton foundation has spent more than $50M on travel expenses
New York Post
| The former president spent an eye-opening $12.1 million on travel in 2011
alone.
NSA collected thousands of US internet communications
‘with no terror connection’
RT
| The NSA collected huge amounts of data passing through fiber-optic cables in
the US.
Air Force Master Sergeant Reassigned for His Religious
Views Opposing Gay Marriage
Julie Wilson
| “People of faith don’t have a place in the military anymore.”
Greenwald Slams “State-Loyal” Meek Journalists For
Defending “Empire”
Steve
Watson | “They believe in subservient journalism; curtseying to the Queen”.
Author Of Terror Law: UK Authorities Acted Illegally By
Detaining Miranda
Steve
Watson | “Publication in the Guardian is not instigating terrorism.”
Experts: Syria Chemical Weapons Attack “Suspicious”
Paul Joseph Watson | Impartial analysts cast doubt on timing of story.
Russia suggests Syria ‘chemical attack’ carried out by
rebels, provocation not ruled out
RT
| Reports by “biased regional media” about alleged chemical weapons use near
Damascus might be “a provocation planned in advance.”
UK Prime Minister Was Behind Guardian’s Hard Disk
“Pulverization”
Zero Hedge
| UK Prime Minister Cameron was behind the decision to ‘pulverize’ The
Guardian’s hard-drives in an effort to suppress more leaks.
NSA Has Ability to Illegally Spy On 75% of All Internet
Traffic
Kurt Nimmo
| More evidence NSA surveils American people, not foreign terrorists.
Dubious Chemical Weapons Attack In Syria Coincides With
UN Visit
Paul Joseph Watson | Red line? Past evidence shows western-backed rebels were
behind biological attacks.
Get Ready
For The Death Of The Petrodollar
Brandon Smith
| Where is dollar heading?
JPMorgan
Chase Hit With China Bribery Probe
New
American | JPMorgan Chase & Co., one of the Big Four banks of the United
States, is facing yet another scandal — and another federal probe for possible
crimes and improprieties.
Fed fight:
Will Rand Paul make a stand?
Politico
| If you thought the debates over drones and surveillance were tailor-made for
Kentucky Sen. Rand Paul, just wait until President Barack Obama picks a new
Federal Reserve chair.
$2,001,093,000,000:
Fed’s Ownership of U.S. Debt Breaks $2T for First Time
CNS
News | The Federal Reserve’s holdings of publicly traded U.S. Treasury
securities—federal government debt—pushed above $2 trillion for the first time
last week.
Obama
Administration Makes Secret Deal With Mexico To Help Illegal Immigrants In The
Workplace
Instead of making sure that U.S. employers are not hiring
illegal immigrants, the Obama administration has actually signed a secret deal
with Mexico to protect “the rights” of illegal immigrants in the
workplace. According to this “memorandum of understanding”, the Equal
Employment Opportunity Commission will spend U.S. taxpayer dollars to educate
illegal immigrants about their civil rights, workplace safety, and minimum wage
laws. This is yet another example of how the Obama administration is
openly flouting the law and doing all that it can to promote even more illegal
immigration. We are rapidly becoming a lawless nation that has
absolutely no regard for the rule of law, and it all starts with the horrendous
example that is being set at the very top. (Read More.....)
11
Facts About The Ongoing Fukushima Nuclear Holocaust That Are Almost Too
Horrifying To Believe
Is
Fukushima the greatest environmental disaster of all time? Every single
day, 300 tons of radioactive water from Fukushima enters the Pacific
Ocean. The radioactive material that is being released will outlive all
of us by a very wide margin, and it is constantly building up in the food
chain. Nobody knows for sure how many people will eventually develop
cancer and other health problems as a result of the Fukushima nuclear disaster,
but some experts are not afraid to use the word “billions”. It has been
well over two years since the original disaster, and now they are telling us
that it could take up to 40 more years to clean it up. It is a nightmare
of unimaginable proportions, and there is nowhere in the northern hemisphere
that you will be able to hide from it. The following are 11 facts about
the ongoing Fukushima nuclear holocaust that are almost too horrifying to
believe…
#1
It is estimated that there are 1,331 used nuclear fuel
rods that need to be removed from Fukushima. Because of all of the
damage that has taken place, computer-guided removal of the rods will not be
possible. Manual removal is much riskier, and it is absolutely (Read More....)
US
Consumer Sentiment: Telling Tales Posted by : Pivotfarm
Post date: 08/20/2013 - Numbers, Numbers
Everywhere...are any true?
Biting
Our Tongues Doesn’t Keep Us Safe … It Only INCREASES Danger In the Long Run Posted by: George Washington Post date: 08/19/2013 - First They Came …
FRaNKeNDoDD
CaBaReT...
Posted by: williambanzai7
Post date: 08/19/2013 - Life is is a f*cking cabaret
my friends...
FRaNKeNDoDD
CaBaReT...
Submitted by williambanzai7 on
08/19/2013 14:07 -0400
Gold
Is Flooding Out Of London To Switzerland At An Alarming Rate
Submitted by Tyler
Durden on 08/20/2013 - 11:32
This is one of those stories about the gold
market that almost seems too wild to be true since the numbers are so
extraordinary. According to a
Reuters article from earlier today, Australian bank Macquarie has
reported that gold is flooding out of London and into Switzerland at a
mind-boggling rate. Specifically, 240 tons were exported in May alone and 797
tons during the first half of 2013. That means gold is being exported
at a annualized run rate of 17x the 92 tons exported for all of 2012.
That’s insane. Moreover, it seems a lot of that gold is being sent to
Switzerland so that the 400oz bars can be melted down into different
sizes that are more amenable to Asian sensibilities.
INFoRMaTioN
IS NoT FRee...
Posted by : williambanzai7
Post date: 08/20/2013 - “Faith moves mountains, but
only knowledge moves them to the right place”--Joseph Goebbels
INFoRMaTioN
IS NoT FRee...
Submitted by williambanzai7 on
08/20/2013 19:23 -0400
.
.
By:
@blumaberlin
“Faith
moves mountains, but only knowledge moves them to the right place”--Joseph
Goebbels
MURDER
SHOCKS HEARTLAND
COPS:
'Bored' Black Teens Kill White Baseball Player 'For Fun'...
'I
Pulled The Trigger!'
Were
Accused Killers Really 'Bored?'
Australian
tourists urged to boycott USA...
CHICAGOLAND:
5 Shot in Front of Church While Meals Being Handed Out to Homeless...
REVEALED: New Jersey's Homeless 'People Of The Woods'...
Tuesday, August 20, 2013
An Update to My Crash Forecast:
Watch Out for Early 2014
By Harry S. Dent Jr., Senior Editor, Survive & Prosper
Dear Al,
When
I came out with The Great Depression Ahead in late 2008, I had no idea
central banks around the world would pull out all the stops and commit to
endless Quantitative Easing (QE) and a money printing policy.
Of
course, I did expect a strong stimulus program and a rally that could last into
early 2010. After all, central banks and governments had to do something.
I
did NOT expect five years and over $10 trillion in money printing globally. Or
the resultant stock rebound that has lasted into 2013. Even more liberal
economists would not have expected that back then.
Such
central bank activities, taken to such extremes, have never happened before.
The only time we saw something remotely close was when the government printed
money to keep bond rates down so it could finance World War II.
But
central bankers are typically more conservative and responsible than they’ve
been in the last five years. Their change in behavior has forced me to continue
to update my forecast over the last few years to the upside again.
Here’s what you need to know…
As
long as inflation doesn’t rear its ugly head, most central bankers think it’s
okay to endlessly print money. What they don’t realize is their behavior kills
the innovative power of free markets. It twists and perverts them, creating
more bubbles that will ALWAYS burst.
Quantitative
Easing and stimulus money in this environment of demographic slowing in
spending and excessive debt doesn’t flow directly into lending or expanding
productive capacity and jobs. It spills directly into speculation, and suddenly
every financial institution and bankster (and their dogs) are blowing up
bubbles like there’s no tomorrow.
The
commodity bubble first burst in mid-2008 and then started to burst again after
April 2011… and the gold bubble started to burst in mid-2013. Stocks are now
making new highs in the worst global economy since the 1930s. And real estate
has surged higher again after the worst burst since the 1930s. All of these
bubbles are due for a painful bust ahead.
I
use a hierarchy of cycles to forecast long-term scenarios. The Geopolitical
Cycle turned the corner in 2001 with an 18-year downward trend until 2019. The
Spending Wave Cycle started its downturn in 2008 and will follow that trend
into 2020 to 2023. And the Commodity Cycle began its trip down in 2008 as well.
It, too, is only due to turn around in 2023 or so.
All
three cycles point down between mid-2008 and late 2019! Nothing in my forecast
has changed on that front – which means the worst is still ahead!
But
I also use two medium-term cycles. The Decennial Cycle (from Ned Davis)
typically sees the worst crashes in the first two or three years of each
decade. However, I’ve found a flaw in that cycle when it didn’t work well for
the first time since the 1960s.
Ned
Davis developed the cycle by averaging stock markets over the last century. It
turns out that the actual cause is sunspot cycles that move in 10-year cycles
(on average) but that vary between eight and 12 years. NASA and other
scientific groups are good at predicting this cycle, and they’ve noticed that
the current cycle is irregular. Instead of peaking around late 2009 or early
2010, this cycle is projected to peak in late 2013, and then turn down into
around late 2019.
Then
there’s the four-year Presidential Cycle that points down into 2014 and 2018.
Ahead, that warns that those years are likely to be the triggers for the next
crashes.
In
short, all the major cycles I track point down between very late 2013 and late
2019. They all support my forecast of financial turmoil and crisis ahead.
During the next six years, a depression will hit and we’ll see a sharp
debt-deleveraging period. And I expect the next major crash to unfold starting
in very early 2014.
You
see, since the 1950s, only one out of 10 bull markets has lasted longer than
five years (late 1987 to early 2000), without a 20% plus correction. The
average has been more like 3.7 years and the average correction after has been
36%. This bull market will be five years old by early 2014.
The
last major bull market top between 1965 and 1972 saw a series of higher highs
and lower lows until the 50% crash in 1973 to 1974.
And
the increasing volatility in the last decades of higher highs and greater
crashes – 51% in 2000 to 2002 and 58% in 2008 to 2009 – suggests the next crash
will be larger. I’m talking 65% here!
Unless, of course, governments find a way to
forever get away with their irresponsible stimulus activities.
Fat
chance! Personally, I don’t think they’ll be able to pull that off.
That’s
why I am working feverishly to get my next book, The Demographic Cliff,
out by January 2014, when I think the next great crash is likely to begin.
Harry
P.S.
As soon as I have confirmation from my publisher that The Demographic Cliff
will be available in January, I’ll let you know.
How
Sinister is the State?
Posted by: Pivotfarm
Post date: 08/20/2013 - Just how far have our
countries gone in the so-called fight against terrorism that they have been
waging every single second since 9/11?
The
Line Bernanke is Praying Won't Break Posted by: Phoenix Capital... Post date: 08/20/2013 - This isn’t just any trendline. This
is THE trendline. Take it out and the 10 year will likely be yielding 5-6% in
no time… which by the way is where it was for most of the...
"Buyer
Of Last Resort": Guess The Mystery Buyer X
Submitted by Tyler
Durden on 08/20/2013 - 16:51
As
we previously
reported, using TIC data, in the month of June the international community
did something it has not done in years - it sold US Treasurys with passionate
zeal and reckless abandon. In fact, in that one month alone, $57
billion in total Treasury holdings (from $5.657 trillion to $5.601
trillion) was dumped in order to avoid major and accelerating losses. And yet
there was one entity that was buying, on a virtually matched dollar-for-dollar
basis, all that the foreign entities had to sell. The distribution of June
sales among the select largest holders of US paper, and the sole, solitary
buyer, is shown on the chart below. Guess who this Mystery Buyer X
is, who boldly bought everything that no other man, woman or child wanted to
buy in the month of June.
Spanish
Bad Loans Re-Spike To 50-Year High
Submitted by Tyler
Durden on 08/20/2013 - 20:19
The
surge in Spanish (in fact broadly European) equity and bond markets of the last
few weeks has been suspiciously one-way and based (seemingly) on the hopes-and-dreams
of the world's liquidity-based marginal investor finding another new normal
momentum 'clean shirt' to pile into. However, despite the uptick in some data
in Europe, the structural problems remain entirely unfixed and nowhere is that
more evident than in the chart below. As European stock and bond markets suffer
their worst 2 days in 2 months, Spanish bad loans (after a very brief pause in
the exponential surge that also provided hope that the worst was over) have
re-surged to a new all-time record high. At 11.61% of total lending,
bad loans are now at their highest since records began in 1962.
18
Signs That Global Financial Markets Are Entering A Vicious Circle
Submitted by Tyler
Durden on 08/20/2013 - 19:43
The
yield on 10 year U.S. Treasuries is skyrocketing, the Dow has been down for 5
days in a row and troubling economic news is pouring in from all over the
planet. The much anticipated "financial correction" is rapidly
approaching, and investors are starting to race for the exits. We have not seen so many financial
trouble signs all come together at one time like this since just prior to the
last major financial crisis. It is almost as if a "perfect
storm" is brewing, and a lot of the "smart money" has already
gotten out of stocks and bonds. Of course a lot of people believe that we will
never see another major financial crisis like we experienced in 2008 ever
again. A lot of people think that this type of "doom and
gloom" talk is foolish. It is those kinds of people that did
not see the last financial crash coming and that are choosing not to prepare for the next one
even though the warning signs are exceedingly clear. The
following are 18 signs that global financial markets are heading for a vicious
circle...
Has
It Been A Year Since You Filed For Bankruptcy? Then This Mortgage Is For You
Submitted by Tyler
Durden on 08/20/2013 - 19:07
There
was a time when those who defaulted on their debt, especially mortgages, had to
wait 3-5 years before they became eligible for any form of new credit, let
alone a brand new mortgage. That, however, was in the Old Normal. In the New
one things are different: so different, that for anyone who filed a
bankruptcy on or before July 2012, we have good news for you - the FHA (subject
to an explanation and several almost painless conditions) will be happy to
provide you with a brand new mortgage.
150
Years Of Inflation (And Counting)
Submitted by Tyler
Durden on 08/20/2013 - 18:39
The
Twentieth century may be remembered as the century of excess. In
every area, more things were done in the Twentieth century than in any other
century in history, and in many cases, more than in all previous centuries
combined. The Twentieth century saw some of the most destructive wars
in history, the development of the Atomic Bomb, the beginning of air and space
travel, the colonization and decolonization of the Third World, the rise and
fall of Communism, dramatic improvements in the standard of living, the
population explosion, the rise of the computer, incredible advances in science
and medicine, and hundreds of historically unprecedented changes. The
Twentieth century also produced more inflation than any other century in
history.
How
Phil Falcone Won The Battle Against Goldman, But Lost The War (Or How Not To
Manipulate Bonds)
Submitted by Tyler
Durden on 08/20/2013 - 11:05
As
part of the SEC's consent order with Harbinger's Phil Falcone, we learned that
in addition to the previously well-known stuff Falcone was engaging in (using
the fund as his taxpaying piggybank, giving preferential gating terms to
"friends and family", etc), perhaps what really scuttled the once
legendary hedge fund manager is what ended up being an outright war with
Goldman, when back in 2006 Harbinger tried to not only take the other side of a
short bet put on by Goldman, but literally squeezed Goldman and its clients
into absolutely misery with the result millions in profit to Falcone and
unknown losses to Goldie. And as one knows, you never fight Goldman and win,
without ultimately losing everything.
JCP
Plunges 10% From Open After Cramer's "Amazing Quarter" Blessing, Back
To Red
Submitted by Tyler
Durden on 08/20/2013 - 10:42
When
a sophisticated hedge fund manager takes a position in the most senior segment
of a failing retail form's capital structure, it is not a bet on recovery: it's
a bet on being long the fulcrum security in an upcoming chapter 11,
or at worst, on having collateral coverage to cover your exposure in a
liquidation Chapter 7... And for anyone who spent more than 2 minutes
deciphering this morning's JCP results will know, the cash burn is immense and
outweighs any glib PR-strewn headlines that support a positive future.
In fact, even the CFO noted he did not see any major trend change in the
short-term (i.e. more of the same downtrend?) Of course, that didn't stop
CNBC's Jim Cramer from talking it up pre-market (to a 8.9% gain before the
bell) as he exclaims in the clip below "this is an amazing quarter... I am
positive, the stock will go higher." Well, 60 minutes after retail got their
first chance to buy, JCP is down 9% from its open, in the red for the
day, and reflecting more closely the dismal reality that credit markets remain
convinced of.
Fed POMO
Page Offline
Submitted by Tyler
Durden on 08/20/2013 - 10:23
Meanwhile,
Europe Is Collapsing
Submitted by Tyler
Durden on 08/20/2013 - 10:08
So
much for the European growth meme (see CAT's
bellwether sales to the region) or the cleanest dirty shirt moving across
the pond. Even as the EUR soars (breaking above 1.3450),
European bond and stock markets (most notably the peripherals that have soared
recently on nothing but air and rotating momo liquidity), are collapsing. Spain
and Italy are down 4.2% on the week, Greek stocks have dumped 6.8% and
even the core are down almost 3%. Peripheral bonds (which actually outperformed
in the rally) are sliding fast with Spanish and Italian bond spreads snapping
15bps wider. Europe's VIX has surged to its highest in a month (near
20%) and credit spreads for financials and corporates continued to blow wider,
with stocks catching down. This is the biggest 2-day drop in 2 months for
most assets.
DJIA
Dips Under 15,000 And Market Breaks: CBOE Declares Self-Help Against AMEX
Submitted by Tyler
Durden on 08/20/2013 - 09:51
A Non-Tweeted Out Bill Gross Slams
The Death Of Free Speech
Submitted by Tyler
Durden on 08/20/2013 - 09:47
No
Dead CAT Recovery On This Sales Chart (Where Caterpillar Asia Sales Post
Biggest Drop Since November 2009)
Submitted by Tyler
Durden on 08/20/2013 - 09:25
There
was some hope two months ago when CAT global retail sales posted a modest
uptick between February and May, rising from a recent low of -13% Y/Y to
"only" declining -7%. Alas, it turned out to be nothing but a dead
CAT bounce, as a month ago hopes
the global recovery would continue were dashed after the -7% global dealer
retail sales dipped once again to -8%. Moments ago, the downward trend
continued its acceleration, when the company reported global retail sales at
-9%. And while it was not all bad news, with the US retail sales drop slowing
and in July posting an almost flat print at -1%, it was the key market of
Asia/Pacific (read China) that plunged by 28% from past year, far worse than
the 21% drop in June, and the ugliest Y/Y comp since November 2009. Any day
now, though, the third cat bounce will take place.
Federal
Student "Aid" Demand Soars
Submitted by Tyler
Durden on 08/20/2013 - 09:11
A
stunning 57% of undergraduates used federal student aid to
help pay for college in 2012; dramatically higher than the 47% in the
pre-crisis 2007 year. As the
WSJ reports, an average of $8,200 per recipient is paid
out by the government coinciding with climbing tuition costs (credit fuels
growth?). The report, via the Education Department, noted that "even
students from households we would consider middle-income are increasingly
eligible and are increasingly taking advantage of Pell grants," as
the number of full-time students who received Pell grants in families
with incomes between $60,000 to $80,000 shot up to 18% in 2011-12 from 2% in
2007-08. Just another wealth transfer scheme or moar better bargains
for the middle class.
RANsquawk
Preview: FOMC Minutes - 21st August 2013
Submitted by RANSquawk
Video on 08/20/2013 - 09:02
Schaeuble
Admits Greece Will Need Another Bailout
Submitted by Tyler
Durden on 08/20/2013 - 08:33
In
the biggest non-news of the day, Germany's Finance Minister Wolfy Schaeuble
finally admitted, officially for the first time, what everyone knows: Greece
will need a third bailout. His exact words, as cited by Reuters,
"There will have to be another programme in Greece," Wolfgang
Schaeuble told a campaign audience in northern Germany, in comments that raised
prospect of a step that could be deeply unpopular domestically just five weeks
before national elections.
The
BTFD Mentality Is Back... In Precious Metals
Submitted by Tyler
Durden on 08/20/2013 - 08:21
Just
as Japan's department store sales hit overnight (plunging at their fastest
level in 13 months), gold and silver prices were shellacked lower almost
instantaneously (admittedly in thin markets). We haven't seen this kind of
morning smack-down in a little while but this time was different... the
dip was bought aggressively and has now been retraced.
JCP Burns Gargantuan $2.1 Billion
In First Six Months: The Only Chart That Matters
Submitted by Tyler
Durden on 08/20/2013 - 07:54
One
can look at the just reported JCPenney Q2 results and compare them to
expectations, which as "expected" missed across the board, with
Revenues coming at $2.66bn below expectations of $2.78bn, EPS missing consensus
of $1.07, printing at $2.16 per share, comparable store sales sliding 11.9%, a
profit margin of 29.6% lower than last quarter's 30.8%, and 33.2% a year ago,
and so on, but that would be ignoring the forest for the tress. The only
data point that summarizes the epic, no recovery catastrophe at the
company is the cash burn. As the following tell all chart shows, the
company burned a ridiculous (and record) $1.146 billion in free cash flow (Cash
from Ops less CapEx) in just one quarter, Q2, and when
adding the $948 billion in cash burn in Q1, JCP burned a monstrous $2.1 billion
in the first six months of 2013. At this point the only question is when the
bankruptcy filing comes.
Frontrunning:
August 20
Submitted by Tyler
Durden on 08/20/2013 - 07:30
So
no great rotation into EM? Capital Flows Back to U.S. as Markets Slump Across
Asia (BBG)
Muslim
Brotherhood leader arrested in Egypt (Reuters)
Allies
Thwart America in Egypt: Israel, Saudis and U.A.E. Support Military Moves (WSJ)
Dear
Bloomberg: when you buy the loans of a distressed retailer, you are not betting
on a rebound, you are betting on being the fulcrum security in a bankruptcy:
Kyle Bass Said to Bet on J.C. Penney Comeback With Loan Purchase (BBG)
Bubbles
Bloom Anew in Desert as Buyers Wager on Las Vegas (BBG)
Britain
rejects Spanish request for Gibraltar talks (Reuters)
U.K.
Mortgage Lending Rises to Highest Since Lehman Collapse (BBG)
Pension
Funds Dispute Math in Detroit Bankruptcy (WSJ)
Christie
Says Gayness Inborn as He Signs Therapy Measure (BBG)
Overnight
Safety Bid For 10 Year TSYs Offsets USD Weakness, Keeps Futures Rangebound
Submitted by Tyler
Durden on 08/20/2013 - 07:01
Following
yet another rout in Asia
overnight, which since shifted over to Europe, US equity futures have
stabilized as a result of a modest buying/short-covering spree in the 10 Year
which after threatening to blow out in the 2.90% range and above, instead fell
back to 2.81%. Yet algos appear confused by the seeming USD weakness in the
past few hours (EURUSD just briefly rose over 1.34) and instead of ploughing
head first into stock futures have only modestly bid them up and are keeping
the DJIA futs just above the sacred to the vacuum tube world 15,000 mark. A
lower USDJPY (heavily correlated to the ES) did not help, after it was pushed
south by more comments out of Japan that a sales tax hike is inevitable which
then also means a lower budget deficit, less monetization, less Japanese QE and
all the other waterfall effect the US Fed is slogging through. Keep an eye on
the 10 Year and on the USD: which signal wins out will determine whether
equities rise or fall, and with speculation about what tomorrow's minutes bring
rife, it is anybody's bet whether we get the 10th red close out of 12 in the
S&P500.
UPDATE:
Maine Gov. Declares: 'Obama Hates White People'...
'HERE
WE GO AGAIN'
Clinton
foundation spent $50M on travel expenses...
Esquire Publishes Shockingly Fair Profile of Alex Jones
Paul Joseph Watson | Turning point for mainstream media?
Obama Supporters Sign Petition to Put Carcinogens in the
Water Supply
Paul Joseph Watson | “That’s a good cause.”
18 Signs That Global Financial Markets Are Entering A
Horrifying Death Spiral
Economic
Collapse | You can see it coming, can’t you?
Biting Our Tongues Doesn’t Keep Us Safe … It Only
INCREASES Danger In the Long Run
Washington’s
Blog | First They Came …
Obama Administration Makes Secret Deal With Mexico To
Help Illegal Immigrants In The Workplace
American
Dream | The Obama administration has actually signed a secret deal with Mexico
to protect “the rights” of illegal immigrants in the workplace.
TEPCO admits leakage of 300 tons of water with monstrous
radiation level
RT
| Another tank with highly radioactive water at the devastated Fukushima
nuclear power plant has leaked.
US Official: Greenwald’s Partner Was Detained to Send a
Message
Reuters
| Britain forced Guardian to destroy copy of Snowden material.
Growing
Up In America
Paul
Craig Roberts | Things Are Bad And Getting Worse.
Bill
Clinton foundation has spent more than $50M on travel expenses
New York Post
| The former president spent an eye-opening $12.1 million on travel in 2011
alone.
18
Signs That Global Financial Markets Are Entering A Horrifying Death Spiral
Economic
Collapse | You can see it coming, can’t you?
Those
That Are Not Preparing For The Coming Economic Depression Are Going To Bitterly
Regret It
Economic
Collapse | The next great economic crisis is rapidly approaching, and most
people are going to be totally blindsided by it.
U.K. government thought destroying Guardian hard drives
would stop Snowden stories
Washington Post | The British government raided the Guardian’s offices in
order to destroy hard drives containing information provided by Snowden.
$2,001,093,000,000:
Fed’s Ownership of U.S. Debt Breaks $2T for First Time
CNS
News | The Federal Reserve’s holdings of publicly traded U.S. Treasury
securities—federal government debt—pushed above $2 trillion for the first time
last week.
The
Atlantic Magazine Downplays America’s Debt Burden
New
American | A combination of false assumptions, simplistic reasoning, and
frivolous complacency.
Wall
Street’s Mortgage Fraud Scandal with David Kreiger
Prison
Planet.com | The fraud is wide spread and millions of Americans have been
affected.
It’s
Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama’s 1st Term
CNS
News | The Congressional Budget Office last week released updated historical
budget data for the federal government, reporting a deficit of $1.087 trillion
in fiscal 2012.
Oklahoma police:
Australian baseball player killed by 'bored' teensToledo Blade OKLAHOMA CITY - An Australian
baseball player out for a jog in an Oklahoma neighborhood was shot and killed
by three “bored” teenagers who decided to kill someone for fun, police said.
Police: College
baseball player victim of random killingUSA TODAY
Highly Cited:Three teens accused
of murder of baseball player Chris Lane identifiedNEWS.com.au { Yes … the perps are typical uncivilized
niggers … as if you couldn’t have easily guessed! }
From Australia:Melbourne
baseball star Christopher Lane shot dead in US Herald Sun
"They
saw Christopher go by, and one of them said: 'There's our target,' " Ford
said. "The boy who has talked to us said, 'We were bored and didn't have
anything to do, so we decided to kill somebody.'
Murdered Australian baseballer's
girlfriend devastated by his deathABC Online
Australian
college baseball player shot and killed by 'bored' Oklahoma teensThe
Guardian
From Australia:Chris Lane's
girlfriend Sarah Harper speaks of shock after shootingMerredin
Wheatbelt Mercury
‘OKLAHOMA
CITY — An Australian baseball player out for a jog in an Oklahoma
neighborhood was shot and killed by three “bored” teenagers who decided to kill
someone for fun, police said.Christopher Lane, who was visiting the town of
Duncan, where his girlfriend and her family live, had passed a home where the
boys were staying and that apparently led to him being gunned down at random,
Police Chief Danny Ford said Monday. A 17-year-old in the group has given a
detailed confession to police, but investigators haven’t found the weapon used
in last week’s shooting, the chief said.That teen and the others — ages 15 and
16 — remain in custody, and Ford said the district attorney is expected to file
first-degree murder charges today. It wasn’t known if the three will be charged
as adults or juveniles. They are to appear in court later today.“They saw
Christopher go by, and one of them said: ‘There’s our target,’” Ford said. “The
boy who has talked to us said, ‘We were bored and didn’t have anything to do,
so we decided to kill somebody.’”He said they followed the 22-year-old Lane, a
student from Melbourne attending college on a baseball scholarship, in a car
and shot him in the back before driving off. Ford told the television station
KOCO in Oklahoma City that one of the teens said they shot Lane for “the fun of
it.”…’
Top
10 Most Expensive Colleges in America
During the 2012-13 school year, 149 colleges
and universities in the U.S. charged at least $50,000 per year for tuition,
fees, and room and board, according to the latest edition of The Chronicle of
Higher Education's "Almanac of Higher Education." That represents an
additional 26 schools to cross that mark compared with the previous year.
In a sign of the soaring costs of higher education, one school became the first
college in the nation to top $60,000. Following are the 10 priciest schools in
the U.S.
10. University of Chicago
The University of Chicago cost $57,711 in tuition, fees and room/board in
2012-13, according to The Chronicle of Higher Education's "Almanac of
Higher Education," the latest edition of which was released this week.
LHOON/Flickr
9. Johns Hopkins University
Johns Hopkins University in Baltimore cost $57,820 during the 2012-13 school
year.
davidwilson1949/Flickr
8. New School Parsons School of Design
The New School Parsons School of Design in New York City cost $57,910 for
tuition and room/board in 2012-13.
Tennis-Bargains.com/Flickr
7. Dartmouth College
Dartmouth College in Hanover, N.H., cost $57,996 for tuition and room/board in
2012-13, according to the latest edition of The Chronicle of Higher Education's
"Almanac of Higher Education."
j_bary/Flickr
6. Claremont McKenna College
Claremont McKenna College, a liberal arts college in Claremont, Calif., cost
$58,065 for tuition and room/board in 2012-13, according to the latest edition
of The Chronicle of Higher Education's "Almanac of Higher Education."
mbtrama/Flickr
5. Wesleyan University
Wesleyan University, a liberal arts college in Middletown, Conn., cost $58,502.
Joe Mabel/Flickr
4. Columbia University
Columbia University in New York City, one of the Ivy League schools, cost
$58,742 for tuition and room/board in 2012-13.
nick.amoscato/Flickr
3. Harvey Mudd College
Harvey Mudd College, a hybrid liberal arts and engineering school in Claremont,
Calif., cost $58,913 for tuition and room/board in 2012-13.
CNBC
2. New York University
New York University in New York City, which typically makes the list of the
most expensive universities, cost $59,337 for tuition and room/board in
2012-13.
baslow/Flickr
1. Sarah Lawrence College
Sarah Lawrence College in Bronxville, N.Y., again ranks as the most expensive
college in America, costing $61,236 for tuition and room/board in 2012-13,
according to the latest edition of The Chronicle of Higher Education's
"Almanac of Higher Education."
Courtesy of Sarah Lawrence College/AP