In what may soon as the latest middle-east diplomatic scandal, Bloomberg reports that Iranian state-sponsored hackers have conducted a "series of destructive attacks on Saudi Arabia over the last two weeks, erasing data and wreaking havoc in the computer banks of the agency running the country’s airports and hitting five additional targets." Additionally, “several” government agencies were also targeted in attacks that came from outside the Kingdom.
Worst initial jobless claims data in 5 months... no problem. After spending the night in the red, following the closing dump yesterday, futures are panic-bid again into the US open, erasing the losses...
In the two weeks since Donald Trump was elected, initial jobless claims have soared by over 35,000 (or over 15%) to 5-month highs. This is the biggest two-week rise since December 2014 and is entirely against the exuberant narrative being spun by US equity markets. One can't help but wonder what the sudden 'odd' collapse to 43 yeasr lows right into the election was all about...
In a sign that investor enthusiasm about the Apple "rebound" may have been premature, Digitimes reports that Apple has begun to reduce orders for iPhone 7s as initial "sales momentum has started fading", according to sources from Taiwan's handset supply chain.
Less than two months after Ray Dalio warned about a potential wipe out in the bond market, he has been proven right: the November surge in global yields has resulted in the worst monthly loss in the Bloomberg Barclays Global Aggregate Total Return Index, which lost 4% in November, a record drop, and equivalent to $.17 trillion in losses. The index’s market value fell $2.8 trillion over past two months.
Following a November to remember, which saw tremendous market gains following the election of Donald Trump, December has started off on the back foot, with US equity futures lower, European stocks halting a two day advance ahead of the Italian referendum, US Treasury yields higher and the US dollar backing away from a 9 month high.
Bankers are bracing for long hours and angry mobs as pay day approaches in India. "We are bracing ourselves for payday and fearing the worst," the chief executive officer at Laxmi Vilas Bank said, concerned the situation has gotten out of control.
Police released footage on Tuesday of what may be the luckiest theft in recent history. In the clip, a man brazenly swipes an 86-pound bucket full of gold worth $1.6 million from the back of an unattended armored truck on West 48th Street in the Diamond District on Sept. 29 in broad daylight.
On Thursday, December 1, a vital Supreme Court order is set to go into effect that dramatically expands the surveillance power of federal agents. The impending alteration to Rule 41 of the Federal Rules of Criminal Procedure softens the legal requirements for obtaining search and seizure warrants that grant the government remote access to individual’s computers and phones.
In the world of Krugmanites, there is only one thing better for the economy than digging a hole and filling it back in.. and that is doing it twice. Just days after repairing a giant sinkhole, in the Japanese city of Fukuoka, in record time (and proudly telling the world), the sinkhole has collapsed once again (offering hope for Q4 GDP).
The Trump victory fits into this decadent scenario.Are we facing a true revolutionary who intends to rid forever global hegemonic aims, or is he simply a well-thought-out pause, created by the elites to revitalize the economy, arrest the internal discontent in the country, and rebuild the army to resume the march toward global hegemony in 2020?
Civil war is unavoidable. The left is too crazy, and the right has now been given the weapon of government too enticing to overlook. Consider for a moment which “faction” in the world benefits most from this arrangement and then you will understand that the left is ultimately a distraction from the greater enemy. Remove the globalists from the picture, and the left will sort itself out.
"...the oil price surge today is probably not sustainable... [OPEC] is fighting against history... The cost of producing crude, largely due to fracking technology, has dramatically changed the marginal economics of oil..."