Archive

July 25th, 2016

"Don't Panic" German Minister Urges Population, Claims Surge In Attacks Has "No Link To Merkel Refugee Policy"

Pouring cold water on speculation that Merkel may take responsibility for the past week's events,  German Interior Minister Thomas de Maiziere said that "the attacks are unrelated to Merkel's refugee policy." He urged people "not to panic." And to help them do just that, the interior minister said that he has ordered increased security presence at airports, train stations and other public places, adding that the "German army can play a domestic role in special cases." Cases such as these.

Dallas Fed Outlook Contracts For 19th Straight Month With Wages Crashing To Sept 2013 Lows

For the 19th week in a row, it appears low oil prices are not "unequivocally good" for the Dallas Fed region. Despite surging from -18.3 to -1.8 (beating expectations by 3 standard deviations) we note that wages tumbled on the month, as did prices received. The biggest driver of the bounce appears to be 'hope' about the future new orders growth rate (20.3 to 34.7)...

IMF's 'Competitiveness Drive' Leaves 127,000 Greeks Earnings Under $110 Per Month

The dramatic shrinkage of Greek earnings due to recession, the explosion of unemployment and the dominance of flexible forms of employment is exposed in a new document submitted by an experts’ committee to Greek Labor Ministry. As KeepTalkingGreece reports, the document featured details wage inequality during the period 2010-2015 and exposes a new social class of workers: the Neo-Poor Greeks earning wages much less than the unemployment allowance of 360 euro.

Turkey Launches Investigation Of "Losers" Who Claim Coup Was A Hoax

Turkish prosecutors have begun investigating people who claim that Turkey's coup attempt was a hoax carried out by the government, the country’s justice minister said Sunday, reflecting a farcical crackdown on free speech.  “Just look at the people who are saying on social media that this was theater, public prosecutors are already investigating them. Most of them are losers who think it is an honor to die for Fethullah Gulen’s command,” Justice Minister Bekir Bozdag said.

Why We're Ungovernable: Debt & The Sudden Outbreak Of Utter Insanity

Debt works the same way for countries as it does for individuals and families: When you borrow too much your life spins out of control. And civil unrest becomes the rule rather than the exception. This sudden outbreak of apparent insanity doesn’t seem closely tied to the recent change in our borrowing habits. But it is, in several ways...

Key Events And Earnings In The Coming Week

The key economic releases this week include consumer confidence on Tuesday, the durable goods report on Wednesday, and the advance release of 2nd quarter GDP on Friday. The July FOMC statement will be released on Wednesday at 2PM. There are several scheduled speeches from Fed officials this week. 197 S&P 500 companies are due to report (or 38% of the index market cap) with the notable names including Apple, Verizon, Facebook, Coca-Cola, Alphabet, Exxon Mobil and Chevron.

How Do We Make America Strong Again? Start Telling The Truth

You want to make America strong again? The only way to do so is to start telling the truth and insisting on the truth. Accepting statistical lies, propaganda and fraud as "truth" because it's easy and doesn't challenge our assumptions is a one-way road to ruin.

Frontrunning: July 25

  • Democrats in disarray on eve of convention to nominate Clinton (Reuters); After Gloating, Democrats Face Unity Problem of Their Own (BBG)
  • Florida nightclub shooting leaves two dead, up to 16 wounded (Reuters)
  • Yellen Still Waiting for Overwhelming Evidence to Warrant Hike (BBG)
  • Oil Trades Near Two-Month Low as Drilling Increases Amid Surplus (BBG)
  • Fraud Investigation Ricochets Through Hedge Fund Known for Ties to Jewish Community (WSJ)

It's Official: Verizon To Acquire Yahoo Core Assets For $4.8 Billion

Almost a decade after Microsoft made an unsolicited bid to acquire Yahoo for $50 billion, moments ago Verizon confirmed recent rumors that it would acquire Yahoo operating business for approximately $4.83 billion in cash, far below initial estimates floated several months ago that the segment could sell for as much as $10 billion. So how much does Marissa Meyer collect for "creating value" at the company during her 5 year tenure? Somewhere around $300 million.