October 12th, 2015

derailedcapitalism's picture

The Rise of the Sharing Economy

Stretched debt-to-income, increased contract work (to the detriment of full-time work), and record housing prices are forcing Canadians to monetizing assets through ride-sharing, AirBnB and through additional contract work.


Tyler Durden's picture

8 Cities That Have Replaced Columbus Day With Indigenous Peoples Day

As tensions boil on the international stage, eight U.S. cities in two months abolished a federal holiday that has long insulted and infuriated the indigenous population and many others - Columbus Day - but that’s not all. These eight cities (including three just last week) then replaced much-maligned October 12 “holiday” with one long overdue: Indigenous Peoples Day. Meanwhile, in Detroit, someone took an ax to the forehead of a Christopher Columbus bust (with fake blood spilling out).


Tyler Durden's picture

AsiaPac Stocks Tumble After Chinese Trade Data Signals Growing Global Growth Scare

After an initial knee-jerk reaction (perhaps on better-than-expected exports - signalling perhaps the devaluation 'worked), AsiaPac stocks are tumbling rapidly as the 11th monthly decline in imports (down a stunning 17.7% YoY in Yuan terms) signaling significant domestic weakness (and thus a larger drag on global growth). Policymakers are already stressing a weaker Yuan will boost exports, and despite recent Yuan strength, it appears the currency wars are far from over.


Tyler Durden's picture

Inspired By Game Of Thrones, TEPCO Resumes Building "Ice Wall" Around Fukushima

14 Months after abandoning the "Game of Thrones"-esque frozen-water-wall containment plan for Fukushima, Bloomberg reports that TEPCO expects to begin freezing a soil barrier by the end of the year to stop a torrent of water entering the wrecked Fukushima nuclear facility, moving a step closer to fulfilling a promise the Japanese government made to the international community more than two years ago. Officials noted, rather uninspiringly, the frozen wall, along with other measures, "should be able to resolve the contaminated water issues before the Olympic games."


Tyler Durden's picture

Paul Craig Roberts: A Decisive Shift In The Power Balance Has Occurred

The world is beginning to realize that a seachange in world affairs occured on September 28 when President Putin of Russia stated in his UN speech that Russia can no longer tolerate Washington’s vicious, stupid, and failed policies that have unleashed chaos, which is engulfing the Middle East and now Europe. Simply put, Washington’s impulsive use of power is a danger to America and to the world.


Tyler Durden's picture

"Now Is Not The Time To Raise Rates" China Demands The Fed Live Up To Its "Global Responsibilities"

PBOC strengthens Yuan by most since Nov 2014

The message from China was heard loud and clear from the IMF meetings in Lima: The United States [Fed] "should assume its global responsibilities" given the dollar's status as reserve currency; "now is not the time to raise rates."


Tyler Durden's picture

The Fingerpointing Begins: House Armed Services Chairman Slams Obama's Syria Policy

The Chairman of the House Armed Services, Mac Thornberry, slammed the Obama administration's policy on Syria in an interview published Monday.  Thornberry said that he could not recall anytime during his 20 years in Congress where Russia or any other country told the U.S. when and where American forces could fly in another country. Well, there is always a first time for everything...


Tyler Durden's picture

"We've Never Seen Anything Like This" - Dumbfounded Central Bankers Brace For "Rolling Series Of Crises"

"I heard time and again this week from governors of emerging-market central banks that it’s not the hike itself that worries them. It’s how much and when it occurs." "Delaying an increase in rates only increases volatility and uncertainty in emerging markets."


Tyler Durden's picture

US Paradrops 50 Tons Of Ammo To Syrian Rebels

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.


Tyler Durden's picture

The Monetary Policy Dead-End

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.


Tyler Durden's picture

Thousands Of Angry Unpaid Chinese Workers Protest Shocking Bankruptcy Of Major Telecom Supplier

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.


Tyler Durden's picture

Obama Won't Back Down After Chinese Threat, Sends U.S. Warships To Contested Islands In "Matter Of Days"

"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."


Tyler Durden's picture

Democracy Uber Alles (But Only When It Goes Our Way)

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.

Do NOT follow this link or you will be banned from the site!