• Vitaliy Katsenelson
    10/07/2015 - 12:23
    Having government control over the levers of the economy can have advantages. For example, by taking prompt action, the Chinese government was able to pull the economy out of the recession remarkably...

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The First Crack: Deutsche Bank Preannounces Massive Loss, May Cut Dividend

Amid numerous rumors that Deutsche Bank is among the corporations exposed to the VW fiasco, and to be clear there is no news to confirm that, DB has just kitchen-sinked it in a pre-announcement:


Deutsche Bank stock is trading down around 6% after-hours.

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Edward Snowden: "They've Said They Won't Torture Me..."

Just in case anyone still foolishly believes that there’s a shred of decency left in the ‘justice’ system in the Land of the Free, we would humbly present exhibit A: Edward Snowden.

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Lawmaker Calls For Study On Links Between Pharmaceuticals And Mass Killers

We have to look into what is being prescribed and what is in these meds just like clinical studies. Why don’t we do studies on the medication all of these shooters were taking and take that medication off the market? Obviously, medications can alter your mind just as alcohol can alter the mind..."

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Hillary Flip-Flops On TPP - Shuns Obama's Trade Plan After Publicly Supporting It 45 Times

In what seems like a nervous populist move amid Bernie Sanders' gains, Hillary Clinton has flip-flopped rather stunningly to oppose President Obama's Trans-Pacific Partnership. Despite supporting the bill at least 45 times, as CNN's Jake Tapper points out, Clinton told PBS' Judy Woodruff Wednesday in Iowa that, "As of today, I am not in favor of what I have learned about it." It's also a departure from the Clinton legacy, as CNN notes, it was President Bill Clinton who, two decades ago, signed the first mega-regional pact: the North American Free Trade Agreement.

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Bernanke's Balderdash

The US and world economies are drifting inexorably into the next recession owing to the deflationary collapse of commodities, capital spending and world trade. These are the inevitable “morning after” consequence of the 20-year global credit binge which has now reached its apogee. The apparent global boom during that period was actually a central bank driven excursion into the false economics of household borrowing to inflate consumption in the DM economies; and frenzied, uneconomic investing to inflate GDP in China and the EM. The common denominator was falsification of financial prices. By destroying honest price discovery in the financial markets, the world’s convoy of money-printing central banks led by the Fed elicited a huge excess of financialization relative to economic output.

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The Source Of The US Economy's Only Bright Spot: $1 Trillion In Car Loans

As the following chart shows, after langushing between $70 and $800 billion in the second half of the last decade, since Q2 2010 US auto loans have been on an absolute tear, and have increased by over 40% in the past five years alone, to just shy of $1 trillion as of June 30!

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"You Never Go Full-Krugman": Insane Helicopter Money Calls Continue As Trapped Central Banks Face Keynesian Endgame

"The helicopter. Rather than buying assets, central banks drop money on the street. Or even better, in a more modern and civilised fashion, credit our bank accounts!" Yes, "even better!"...

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As A Shocking $100 Billion In Glencore Debt Emerges, The Next Lehman Has Arrived

And now the real shocker: there is over US$100bn in gross financial exposure to Glencore. From BofA: "We estimate the financial system's exposure to Glencore at over US$100bn, and believe a significant majority is unsecured. The group's strong reputation meant that the buildup of these exposures went largely without comment. However, the recent widening in GLEN debt spreads indicates the exposure is now coming into investor focus."

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"The Saudi Population Are Growing Restless": A Deep Look Inside The "Black Box" That Is Saudi Arabia

"The Saudi population, especially the younger people, are growing restless because they see what is happening in the world through social media of which they are among the highest users - that’s the only means they have to communicate. So the situation inside the country is also very fragile and the foreign policy conducted by the current regime is very perilous. It is only a matter of time because the Gulf States are ruled by oligarchies who maintain control through bribery and the sword. So this is a challenging time for the Gulf States despite all the public commentary suggesting they are immune to the uprisings."

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274 Days, 294 Mass Shootings - Welcome To America

Last week's community college disaster in Oregon, brought the number of mass shootings (4 or more people killed or injured) in America this year to 294. As WaPo notes, that is more than 1 per day...

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When You Use A Smartphone In China, You Agree Not To...

  • Endangering national security, leaking state secrets, subverting the government, and undermining national unity;
  • Inciting ethnic hatred or ethnic discrimination, and undermining national unity;
  • Spreading rumor, disturbing social orders, undermining social stability;
  • Spreading obscenity, pornography, gambling, violence, murder, terrorism or instigating others to commit crimes;
  • Insulting or slandering others, infringing upon the legal rights and interest of others;

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Obama Apologizes, Says "Will Get To Bottom" Of Afghanistan Bombing

"This morning from the Oval Office, President Obama spoke by telephone with Doctors Without Borders International President Dr. Joanne Liu, to apologize and express his condolences for the MSF staff and patients who were killed and injured when a US military airstrike mistakenly struck an MSF field hospital in Kunduz, Afghanistan over the weekend," Earnest said in the White House briefing.

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