Archive - Jul 27, 2015
Municipal Madness
Submitted by Tim Knight from Slope of Hope on 07/27/2015 22:57 -0500Only a government employee could point to a 99.5% failure rate and declare it a success.
The Most Important Market Trendline Since 2009 Was Just Broken
Submitted by Tyler Durden on 07/27/2015 22:40 -0500
The trend is your friend... until it ends...
Global Plunge Protection Team Rescues Chinese Stocks Back To Unchanged At Break
Submitted by Tyler Durden on 07/27/2015 22:31 -0500In what appears like a coordinated USDJPY-driven intervention, the Panic Plunge Protection Team has swung into action not once but twice tonight so far. After China opened down between 5% and 7%, and initial momentum bounce from USDJPY failed onlyt to be followed by a bigger more energentic push to get Shaghai Composite back to unchanged... but Chinese stocks are once again losing momentum...
Introducing "Trickle-Out Oligarch Economics" - How Over $21 Trillion In Wealth Fled Offshore
Submitted by Tyler Durden on 07/27/2015 21:45 -0500The world’s super-rich have taken advantage of lax tax rules to siphon off at least $21 trillion, and possibly as much as $32tn, from their home countries and hide it abroad – a sum larger than the entire American economy. What we need is fundamental systemic change. This means truly restructuring the entire financial system, from Central Bank power, to Wall Street funding both political parties, to lengthy jail sentences for financial criminals. If we do that, oligarchs won’t be able to parasitically amass billions so easily in the first place.
UK Government Admits 250,000 Porn Websites Visited On Parliament PCs
Submitted by Tyler Durden on 07/27/2015 21:15 -0500...attempts to access more than 42,000 sites classed as pornographic from the UK Parliament’s computer network were made during April alone, totaling more than 1,300 each day.
The Irony Of Market Manipulation
Submitted by Tyler Durden on 07/27/2015 20:45 -0500Having gazed ominously at the extreme monetary policy smoke-and-mirrors intervention in bond markets, and previously explained that "the stock market is to important to leave to the vagaries of an actual market." While the rest of the world's central banks' direct (BoJ) and indirect (Fed, ECB) manipulation of equity markets, nobody bats an eyelid; but when PBOC steps on market volatility's throat (like a bull in a China bear store), people start complaining... finally. There is no difference - none! And no lesser Asian expert than Stephen Roach warns that we should be afraid, very afraid as he states, the great irony of manipulation, he explains, is that "the more we depend on markets, the less we trust them."
China Carnage Continues; Investors "Lost & Concerned" Despite PBOC Reassurance
Submitted by Tyler Durden on 07/27/2015 20:18 -0500“China’s market is so distorted, you can’t sell short very confidently and you can’t buy up very confidently either," warns one Hong Kong-based asset manager as despite massive "measures" and manipulation, Chinese stocks extend yesterday's stunning losses (CSI-300 -5% at the open, Shanghai -4.1%). As Bloomberg reports, investors “are concerned and lost," although government officials tried to claim the situation by explaining they will "continue efforts to stabilize market and investor sentiment, and prevent systemic risk." As stocks continued to fall, the market is summed up by the opposing views of one broker noting "China won't tolerate a worsening stock market, so those state-backed financial institutions may start buying," and another who warned "it's hard to start a new up move after a bubble bursts... I don't think they are able to prevent it falling."
Elon Musk Is Preparing For The Killer Robot Wars Of Tomorrow
Submitted by Tyler Durden on 07/27/2015 20:15 -0500"A global arms race is virtually inevitable, and the endpoint of this technological trajectory is obvious: autonomous weapons will become the Kalashnikovs of tomorrow. Unlike nuclear weapons, they require no costly or hard-to-obtain raw materials, so they will become ubiquitous and cheap for all significant military powers to mass-produce. It will only be a matter of time until they appear on the black market and in the hands of terrorists, dictators and warlords."
When Will We Ever Learn?
Submitted by Tyler Durden on 07/27/2015 19:50 -0500
The lessons of ignoring history are likely to be learned once again... the hard way.
Chess Vs Checkers - John Kerry Edition
Submitted by Tyler Durden on 07/27/2015 19:45 -0500Presented with no comment...
Beware, The Disappearing Retirement Fund
Submitted by Tyler Durden on 07/27/2015 19:15 -0500Recently, the US Supreme Court ruled that employers have a duty to protect workers invested in their 401(k) plans from mutual funds that perform poorly or are too expensive. By passing this ruling, the US government has the power to seize private pension funds “to protect pensioners”. It also has the authority to dictate how funds may be invested. The way is now paved for the requirement that 401(k)s be invested heavily in US Treasuries.
Commodity Carnage Will Hurt These 10 States The Most
Submitted by Tyler Durden on 07/27/2015 18:50 -0500Why China Will End Up Like Japan
Submitted by Tyler Durden on 07/27/2015 18:25 -0500Just as Japan thought they could go back to pre-Plaza Accord growth rates by holding on to the old ways in the 1990s, the Chinese will expect the growth miracle to return in 2016 with the “right” policies. It will not. It is all a mirage though. Just as in Japan, the Chinese will not allow the market process to do its magic to get the economy back on a stable footing. Draconian measures to stop the recent stock market rout are a clear testimony of that. In other words, the Chinese economy will resemble that of Japan, and it will do so very soon, if it is not already there. China is heading straight into a zero growth environment, and will be mired there for years to come.
Majority Of Americans Now See Guns As The Solution To Mass Shootings
Submitted by Tyler Durden on 07/27/2015 18:05 -0500Obama failed: in the aftermath of the 2012 Newtown, CT school massacre which left 26 unarmed, defenseless people dead, the president pushed as hard as he could to pass legislation that would enact strict gun control and further limit the applicability of the Second Amendment. Not only did he not succeed, but according to a 2014 Pew Research Poll there has been a 9% rise in the number of Americans who think gun ownership could "protect people from becoming victims of crime."





