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18-Year-Old Black Teen Who Drew Gun Shot Dead By Police In St. Louis Gas Station

Just days after two NYPD officers were brutally executed in broad daylight in what is said to be a retaliation for the deaths of Michael Brown and Eric Garner, overnight, amazingly, just miles away from the St. Louis suburb of Ferguson where Michael Brown was shot in August, an 18 year-old black man was shot and killed by police at a gas station in the St. Louis suburb of Berkley late on Tuesday, in a development that is certain to inflame racial, and local police department, tensions even further beyond their breaking point.



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Even The Algos Are Looking Forward To Today's Early Close

Today's early close across markets likely means that the blow-off top multiple-expansion mania phase (because forward EPS estimates over the past couple - that means 2 to Janet Yellen fanatics - weeks have in fact declined) of 2014 may be coming to an end. However with already abysmal volumes literally grinding to an early halt at 1:15 pm Eastern today, and with a market as boring as this one, where any news is immediately interpreted as good, not matter how bad it actually is or how "revised" or "goal-seeked", we may see futures, which already are trading some 4 points above fair value, successfully levitate by another 20 points and hit Goldman's 2100 year end target - year-end for 2015 that is - one year ahead of time.



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Here Is The Reason For The "Surge" In Q3 GDP

So what did Americans supposedly spend so much more on compared to the previous revision released one month ago? Was it cars? Furnishings? Housing and Utilities? Recreational Goods and RVs? Or maybe nondurable goods and financial services? Actually no. The answer, just as we predicted precisely 6 months ago is... well, just see for yourselves.



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The Destruction Of The Middle Class Is Nearing The Final Stages

The events of the past few months seem astounding when taken in all at once. The plan to destroy the U.S. dollar and the American middle class is moving at an ever increasing speed. There are three lessons that many people will learn in the coming months. If you do not have it already you may not be able to get it. If you do not have it physically in your hands you do not own it. If you cannot protect it you will not have it for long.



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Art Cashin Unleashes Chistmas Poem: "Count Your Blessings... Along With Your Wealth"

From no greater laureate than UBS' NYSE Floor director Art Cashin... the year behind us (and the one ahead) in rhythmic narrative.



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2009 Is Back, And So Is The "Risk-Free" Contango Trade

As the following snapshot from January 2009 shows, the 12 month, $25 contango back then was without precedent, and as a result there was an epic scramble by hedge funds, banks and various other speculators to store about 100 million barrels on tankers with the intention to sell later. Since the contango was so wide one could easily lease any number of VLCCs and still be profitable on the trade. In fact, a big reason for the renormalization of the crude curve back then was because so many funds jumped on this arb. Fast forward to today, because the "risk-free" contango trade is back.



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US Government Admits $2.4 Billion Food-Stamps "Mis-Spent"

According to the most recent report from the US Department of Agriculture's Office of Inspector General, government "mis-spent" $2.4 billion on food stamps. While $2.4bn may feel like small amount in the present day of trillion-dollar debts, as The Daily Signal's Alexandra Gourdikan notes, the fact itself should raise concerns adding that the food stamps program is in need of reform. First and foremost, policymakers should focus on promoting work. Americans are willing to help those in need, but they also believe that people must do what they can for themselves.



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How Every American Can Fight Terrorism With Just One Finger

Presented with no comment...



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Could An Energy Bust Trigger QE4, Peter Schiff Asks

Despite the widely held belief that 2015 will be the year in which a patient Fed finally begins to normalize rate policy, we believe the Fed has no possibility of withdrawing the stimulus to which it has addicted us. QE4 was always much more probable than anyone in government or on Wall Street cares to admit. A recession and a financial panic caused by sub $60 oil will significantly quicken the timetable by which the Fed cranks up the presses. When it does, oil could once again increase in price, along with all the other things we need on a daily basis. That should finally dispel any remaining illusions that the Fed could successfully land the metaphorical plane. More QE may minimize the damage in the short-term, but we believe it will keep us trapped in our current cocoon of endless stimulus, where we will slowly suffocate to death.



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Pepe Escobar On Blowback After Blowback For The "Empire Of Chaos"

At present, the choice between the two available models on the planet seems stark indeed: Eurasian integration or a spreading empire of chaos. China and Russia know what they want, and so, it seems, does Washington.  The question is: What will the other moving parts of Eurasia choose to do? All these interlocked developments suggest a geopolitical tectonic shift in Eurasia that the American media simply hasn’t begun to grasp. Which doesn’t mean that no one notices anything.  You can smell the incipient panic in the air in the Washington establishment. So long to the unipolar moment... 2015 is "going to be a real hardcore year."



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First Oil, Now Earnings Revisions Scream Recession

Two short weeks ago we warned of the looming 'profit recession' in the US on the heels of significant downward revisions from the Energy sector due to sustained low prices. While we assuredly will not do the 'told-you-so-dance' quite yet, perhaps all the professional hockey-stick extrapolators and 'smart money' should look away from the following three charts...



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"Peak" American Dream?

More than 80% of Chinese believe today's youth will have a better life than their parents...

More than 80% of Americans do not believe today's youth will have a better life than their parents...



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Broken Energy Markets And The Downside Of Hubbert’s Peak

A form of society could undoubtedly exist powered by nuclear, wind and shale gas. But it would be a society supported by the state with far larger numbers working in the energy industries than now, producing lower surpluses, the energy production part perhaps running at a perennial loss. Those losses have to be covered by either higher price or via the taxation system. Either way, the brave new world that awaits us will be characterized as the time of less that will be in stark contrast to the time of plenty many of us enjoyed during the 20th Century.



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