Archive - Sep 14, 2015

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Caught On Tape: Topless Femen Protesters Storm Muslim Debate "Whether Wives Should Be Beaten"





This Saturday, during a conference at the Muslim Salon in Pontoise near Paris on the role of Muslim women, two Muslim fundamentalist imams were debating the question of "whether wives should be beaten or not", Telegraph reports that two Femen protester activists, aged 25 and 31, "ripped off their Arab-style cloaks and jumped on to the stage on Saturday evening. One had the slogan “No one subjugates me” inked across her torso. The other bore the words “I am my own prophet."

 

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USDJPY, Nikkei 225 Tumbles After Disappointing "No Change" From Bank Of Japan





We noted earlier the premature exuberation in USDJPY and Nikkei 225 - despite most of the sell-side not expecting anything from The BoJ - and it appears the banks were right and the FOMO traders wrong. The Bank of Japan made no change to its monetary policy (no increased buying, no shift in ETF allocations, and no NIRP for now). BoJ members spewed forth their usual mix of "everything is awesome" and "any quarter now" for the recovery but the market wasn't buying it. That leaves only one thing left to cling to for a "we must buy" crowd - no change today 'guarantees' moar QQE in October.

 

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Public School Students Are The New Inmates In The American Police State





If you want a nation of criminals, treat the citizenry like criminals. If you want young people who grow up seeing themselves as prisoners, run the schools like prisons. But if you want to raise up a generation of freedom fighters, who will actually operate with justice, fairness, accountability and equality towards each other and their government, then run the schools like freedom forums. Remove the metal detectors and surveillance cameras, re-assign the cops elsewhere, and start treating our nation’s young people like citizens of a republic and not inmates in a police state.

 

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USDJPY Surges Ahead Of BoJ Statement, China Strengthens Yuan As Washington Folds On Cybersecurity Sanctions





It appears someone is betting on Kuroda and his cronies to do something later this evening (just like they did as The Fed stopped QE3 back in October) in some wierd monetray policy quid pro quo of - dump Yen all you like as long as the carry trade is alive and well. USDJPY is up from 119.85 to 120.50 (and NKY up over 400 points from US session lows), as perhaps the fact that The BoJ's ETF-buying kitty is running dry at a crucial time. Chinese equity markets are extending yesterday's losses as margin debt declines to a 9 month low (still +62% YoY), injects another CNY50bn and strengthens the Yuan fix for the 3rd day in a row; but in a somewhat embarrassing move, Washington has decided not to impose sanctions on China ahead of Xi's first state visit next week.

 

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Fourth Turning: Crisis Of Trust, Part 2





The world is becoming increasingly chaotic and the American people are seeking a leader who can bring order, make tough decisions, and capture the zeitgeist of this moment in history. They are in search of a prophet generation (Boomer) Grey Champion, whose arrival marks the moment of darkness, adversity and peril as the Fourth Turning careens towards its climax. The Grey Champion doesn’t necessarily have to be a good person, but they must lead and display tremendous confidence in their cause and path. Franklin, Lincoln, and FDR have many detractors, but during their Fourth Turnings, they most certainly led, casting aside obstacles (sometimes illegally) and enduring dark days and bleak prospects for success. Is there someone of that stature ready to lead the American people now?

 

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Goldman Warns: VIX Is Not Going Back To Low-Teens, No Matter What Fed Does





While equities do tend to be lower one-, two-, and three-months after a Fed rate hike, S&P 500 realized volatility and VIX levels have been fairly well contained. However, Goldman Sachs warns not to expect VIX to calm down and settle back into the low teens like it was from 2013 to mid-August 2015. New normal trend VIX levels should now be 4-5 points higher than the average level of 14 experienced in 2013-2014 given the current state of the economy.

 

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Iraq War Veteran Blows Whistle On Shameless Propaganda Being Taught At Police Academies





There is no “war on police” happening in America today. What is happening is a growing movement of people who want police accountability, profess a desire to reform the justice system so that we stop incarcerating people for the oxymoron of “victimless crimes,” and an end to the widespread thieving of the public without due process via a practice known as civil asset forfeiture.

 

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Jeffrey Brown: To Understand The Oil Story, You Need To Understand Exports





Despite the attention-grabbing economic volatility that is dominating headlines, it's important to keep our eye on the energy story firmly in focus. This is especially true as the headlines we regularly read about Peak Oil being dead " are "manifestly false" according to petroleum geologist Jeffrey Brown. As concerning as the fact that global oil production has plateaued over the past decade, despite trillions invested in trying to goose it higher, are Brown's forecasting model for oil exports. His Export Land Model shows how rising internal consumption can swing (and has swung) countries from major exporters to permanent importers within a dizzyingly short period of time.

 

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Barclays Slashes China GDP Projections After Weak Data





"Looking into 2016, we believe the three major headwinds highlighted in the medium term - excess capacity in many industries, oversupply in the housing market and high debt burdens (especially among local governments) - together with anti-corruption and policy uncertainties will continue to weigh on growth."

 

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A Panicked Brazil Promises Billions In Austerity, Does 180 On Budget After Downgrade





On the heels of a painful S&P downgrade, Brazil now says it plans to enact some BRL26 billion in primary spending cuts for the 2016 budget on the way to achieving in a primary surplus that amounts to 0.7% of GDP.

 

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"Ineffective & Reckless" Fed Is An "Engine of Disaster"





In short, activist Fed policy is both ineffective and reckless (and the historical data bears this out), and that the Federal Reserve has pushed the financial markets to a precipice from which no gentle retreat is ultimately likely. Similar precipices, such as 1929 and 2000, and even lesser precipices like 1906, 1937, 1973 and 2007 have always had unfortunate endings. A quarter-point hike will not cause anything. The causes are already baked in the cake. A rate hike may be a trigger with respect to timing, but that’s all. History suggests we should place our attention on valuations and market internals in any event.

 

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Stunning Video Emerges As 1000s Flee California Wildfires After Governor Calls 'State Of Emergency'





As if the drought was not disheartening enough, wildfires are now raging across many parts of northen and southern California focing Governor Jerry Brown to call a state of emergency. Nowhere is the crisis more evident than in NorCal's Lake County where, as The LA Times reports, the untamed wildfire forced chaotic evacuations, is consuming hundreds of homes and businesses, and has outrun the efforts of a growing army of firefighters to corral it. However, as the following clip shows, one car-driver ran the gauntlet and managed to outrun "the worst tragedy Lake County has ever seen," in a scene right out of a disaster movie.

 
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