It appears some more of the cameras around the Kremlin were working when Boris Nemtsov was assassinated last week. The following, rather stunning clip - given we now know what transpired - shows the immediate (within 3 minutes) aftermath of the murder, the white "getaway" car accelerating, and the garbage truck...
So today what is different is not the Wall Street spiel that Nasdaq is anchored by the likes of Apple rather than Webvan. Since the two days of March 9 and 10 in the year 2000 when the Nasdaq closed over the 5,000, the financial markets have been converted into central bank managed gambling halls and the global economy has bloated beyond recognition by 15 years of non-stop financial repression. Back then, a few hundred stocks were wildly over-valued based on monetizing eyeballs; now the entire market is drastically overvalued owing to the false financial market liquidity generated by $14 trillion of central bank asset monetization - mostly public debt - since the turn of the century. As a result, the global financial system and economy are orders of magnitude more fragile and vulnerable to collapse than they were 15 years ago.
...is that while nobody actually cares about its contents, when the flashing red headlines hit, they set off a firestorm of HFT algo buying in WTI on the day of the biggest inventory build in...forever.
"I am somewhat concerned, at least given the way things stand now, about the market reaction. First, the lack of details will create some uncertainty and concern, particularly because there’s not a great deal said about the “problem children,” the BAC and Citi. Secondly, I think the markets will be disappointed in the following sense: As I will describe, this is a real truth-telling kind of plan. It’s fundamentalist. It’s not about giving the banks a break. It’s not about using accounting principles to give them backdoor capital. It’s very much market-oriented and “tough love.” And I think we all will like that. I like that. But the banks’ shareholders aren’t going to be thrilled about it."
And, as NewEdge's Brad Wishak points out, that's exactly what we are seeing play out on the NYSE here. Being the world's largest exchange by market capitalization ($16 trillion), failures like this are typically worth paying attention to...
"There is no evidence upon which prosecutors can rely to disprove Wilson’s stated subjective belief that he feared for his safety," states a report from The Justice Department, clearing Ferguson, Mo., police officer Darren Wilson of civil rights violations in the shooting of Michael Brown last year. Although this was somewhat expected, as we noted previously, the DoJ's report points specifically to "some prosecution witness accounts cannot be relied on because their accounts cannot be reconciled with the DNA bloodstain evidence and other credible witness accounts."
Is Janet Yellen "patient" or not? And is "patient" a nudge-nudge, wink-wink code for a period stretching beyond the next few FOMC meetings or is it just a tacit admission that the Fed will start checking its parachute harness only after the plane’s engines have at last caught fire? The last time they did this - with the benefit of hindsight - the supposed golden era was the one in which were actively sowing the seeds of our own ruin, it might give pause for thought about quite how much harm our masters' stubbornly accommodative stance is causing us again today.
The BLS put out their monthly CPI lie last week. They issued the proclamation that inflation is dead. Did you know your costs are 0.1% lower than they were one year ago. They then used these deflation numbers to proclaim your real wages soared last month. It’s all good. The American consumer is so flush with cash, they decided to spend less money for the second month in a row. The Wall Street shysters are so happy with declining consumer spending, declining corporate profits, and a global recession, they pushed the NASDAQ up to 5,000 for the first time in 15 years.
"There’s Going To Be Chaos" - What Is The Worst-Case Outcome Of Today's Supreme Court Obamacare HearingSubmitted by Tyler Durden on 03/04/2015 - 11:38
Today, for the second time since 2012, the fate of Obamacare lies in the hands of the Supreme Court, and like last time, it will likely be all about Justice John Roberts ' decision. Later today, the US Supreme Court will hear oral arguments in the case of King v. Burwell, the latest challenge to Obamacare, and one that could potentially leave it gutted from an unexpected direction. As a result, nearly eight million Americans could lose their health insurance depending on how the Supreme Court interprets four words in the "Affordable" Care Act.
"Three big private equity firms — the Blackstone Group, Colony Capital and Cerberus Capital Management — are betting that so-called landlord loans to small and midsize investors will become the next big opportunity to profit from the rebound in the United States housing market. The private equity firms are providing financing indirectly to hundreds of real estate funds buying single-family homes, something that until recently was not widely available."
"Presidents should get the power to declare economic emergencies along the lines to declare war... [and] take extraordinary actions and not put that all on the Fed." - Former Fed Chairman Ben Bernanke
For those of us who remain horrified and disgusted by the 2008-09 Federal Reserve and U.S. government bailout of the kleptocratic oligarchs who created the crisis, the above comments by the mastermind of this historic theft should be extremely concerning.
So much for last night's lower than expected API build, DOE data shows a massive build compared to the 3.95 mm barrels expected:
*CRUDE OIL INVENTORIES ROSE 10.30 MLN BARRELS, EIA SAYS
This is the 8th build in a row (adding the most inventory in history) and biggest weekly inventory rise in 14 years.
Just what are the Swiss up to...
*SWISS FINANCE MINISTER WANTS NEW MINIMUM EXCHANGE RATE: HZ
A confidential paper signed by Swiss Finance Minister Eveline Widmer-Schlumpf, discussed in government last week, said that new minimum exchange rate should be "considered," Handelszeitung reports in a prerelease of an article to be published Thursday.