Because the "train and euip" program was such a public embarrassment, the Pentagon had to come up with a new idea to assist Syria’s “freedom fighters” now that they are fleeing under bombardment by the Russian air force only to be cut down by Hezbollah. The newest plan: helicopter ammo. No, really. The US has now resorted to dropping "tons" of ammo into the middle of nowhere and hoping the “right” people find it.
Fed chief Janet Yellen’s hesitations and the market turmoil since August seem to validate that it is impossible to stop the accommodative monetary policy, unless you accept that doing so would trigger a new global crisis. The Fed is aware that raising interest rates too fast and too high could have the same effect as pressing the nuclear button. The whole system could collapse and it cannot be taken for granted that the central banks would be able to extinguish the fire this time. Their strike force has weakened because their balance sheets are exposed to market fluctuations and their credibility was seriously damaged because the measure they have taken have failed to strengthen the economy.
Major Chinese telecom supplier Fu Chang Electronic Technology Co. (also known as Fosunny), shocked its 3,800 employees when instead of going public, the company announced it would be going dark instead when it issued a statement saying it was ceasing operations due to liquidity problems resulting from legal and debt issues.
Obama Won't Back Down After Chinese Threat, Sends U.S. Warships To Contested Islands In "Matter Of Days"Submitted by Tyler Durden on 10/12/2015 - 18:53
"A U.S. official confirmed Sunday that a decision had been made to conduct such patrols but said it was unclear when that might happen or where exactly. 'It’s just a matter of time when it happens,' the official said. Another U.S. official indicated that the operation could come within days."
Over the years of watching the democratic process we’ve noticed something important. People tend to reject democracy, indeed, fight it tooth and nail, when it doesn’t go their way. But when it does, well, it is the tops. Most democracy-praisers are never really democrats at all but merely opportunists who make use of the power of the majority over the minority’s rights. But should the majority not wish to go along with this plan, well down with democracy - it is the enemy of higher principles in which democrats believe only sporadically, however.
"In the nuclear arms race, the acronym was MAD—mutually assured destruction—which kept everything nice and tidy. Here you have the same acronym, but it’s ‘mutually assured doubt,’ because you can never be sure what the attack will be." Fortunately, the US has the most advanced operations and the NSA is "the crown creator of cyberespionage." Which is great. Unless they're spying on you...
"It's really beginning to 'feel' close. The first major event could happen anytime now." The coming storm promises to be the largest of our lifetime. We shall all be affected by it. A few will profit from it. Some will be mildly negatively impacted; most will be hit hard, due to being unprepared.
Between a convoluted, self-referential reaction function and a cacophony of Fed speakers, the market simply can no longer process the FOMC's message and with that in mind, we bring you RBS’ Alberto Gallo who asks if perhaps we have reached “peak Fedspeak”.
"The killing and the mayhem will continue through the process of economic collapse that we have entered. And when we reach the destination of all that, probably something medieval or feudal in make-up, it will be possible once again for boys to develop into men instead of monsters."
The following table attempts to provide a simple composite measure of which commodities are most exposed to China demand, and which stand to lose (or gain) the most in case of a Chinese economic collapse (recovery).
Just before the first credit bubble burst, Fortress' Macro hedge fund, then known as Drawbridge as well as several other castle-related terms, peaked at just over $8 billion. Together with Phil Falcone's Harbinger, it was one of the most desired venue to work among the young hedge fund crowd. It has been downhill ever since, and unfortunately for the hedge fund run by Michael Novogratz, which reported $2.5 billion in AUM as of June 30, a number which plunged to just $1.6 billion two months later according to HSBC, as a result of a terrible year, down 13.4% YTD after losing 1.6% in 2014, and having suffered its biggest ever drawdown the macro hedge fund, which does not file an equity 13-F, is liquidating.