• Tim Knight from...
    11/26/2014 - 19:43
    I read your post Pity the Sub Genius and agreed with a lot of what you wrote. However you missed what I think is the biggest killer of middle class jobs, and that is technological...

Tyler Durden's picture

2,200 National Guard Troops To Be Deployed In Ferguson Tonight, Up From 700

While last night's events in Ferguson raised many eyebrows over the decision to release the Jury decision late into the night, and even more tempers, as rampant destruction and looting quickly became the means by locals express their indignation with the US judicial system, some say they could have been worse. Still, just to make sure the second night of the Ferguson protests is not a replica of what happened yesterday, moment ago Missouri governor Jay Nixon announced he would dispatch a massive 2,200 national guard troops, up from 700 on Monday night: a presence that is set to make the city resembles an all out warzone. One can only hope the similarities end there.



Tyler Durden's picture

Texas Tea & Treasury Yields Tumble As Trannies Top The Day

Never in the history of US equity markets has the S&P 500 closed above its 5-day moving average for 28 days in a row... until today. While most indices tracked sideways in a very narrow range today, Trannies outperformed (helped by weaker oil, but even when oil rallied intraday Trannies rallied too). VIX tracked back below 12.5 with an inverted term structure for the 5th day in a row. The USD lost ground for the 2nd day in a row, driven by EUR strength (with notable AUD weakness extending). Silver rallied as gold flatlined and copper tumbled after US GDP beat. However, the two big themes today were the collapse in oil prices (as rumors/news ahead of OPEC sent volatility soaring) to a $73 handle - the lowest close since 2010; and the plunge in Treasury yields (with a very stroing 5Y auction and big block trade in TLT suggesting short-covering). Finally, AAPL broke above a $700 billion market cap briefly today but was unable to hold it.



Tyler Durden's picture

Guest Post: The Federal Reserve Is At The Heart Of The Debt Enslavement System That Dominates Our Lives

From the dawn of history, elites have always attempted to enslave humanity.  Yes, there have certainly been times when those in power have slaughtered vast numbers of people, but normally those in power find it much more beneficial to profit from the labor of those that they are able to subjugate.  If you are forced to build a pyramid, or pay a third of your crops in tribute, or hand over nearly half of your paycheck in taxes, that enriches those in power at your expense.  You become a “human resource” that is being exploited to serve the interests of others.  Today, some forms of slavery have been outlawed, but one of the most insidious forms is more pervasive than ever.  It is called debt, and virtually every major decision of our lives involves more of it.  At the apex of this debt enslavement system is the Federal Reserve.  As you will see below, it is an institution that is designed to produce as much debt as possible.



Tyler Durden's picture

Caption Contest: Kerry Confusion Edition

"Isolated?"



Tyler Durden's picture

Hacked US Documents Said To Reveal Extent Of Undisclosed US "Lethal Aid" For Ukraine Army

It has been half a year since it was first revealed that the US has been sending non-lethal aid to the Ukraine: recall that it was in early June when Obama announced he had approved $5 million in body armor, night vision goggles and additional communications equipment for the Ukrainian military. However, as lately has been a recurrent theme, the Obama administration may not have been exactly forthright with the public or the facts. At least that is the conclusion based on hacked documents released earlier today by the Ukrainian hackers group CyberBerkut, which reveal that despite assurances to the contrary, the US has in fact been providing substantial lethal aid to Ukraine's armed forces. As Sputniknews reports, "according to the hackers, the information was obtained during the visit of US Vice President Joe Biden to Ukraine last week, when they were able to access confidential State Department documents via a mobile device of a US delegation member."



Tyler Durden's picture

Another Keynesian Debt Boondoggle: How Brussels Plans To Turn $26 Billion Into $390 Billion

Long ago, Keynes himself pointed out, perhaps inadvertently, the profound difference between GDP and wealth. If we merely want a higher GDP print - which measures spending, not wealth - governments should handout spoons so that millions of citizens can dig holes and millions more refill them. It would appear that the statesmen of Brussels are fixing to try the modern day equivalent of just that.



Tyler Durden's picture

Artist's Impression Of Iran This Week

Countdown has begun...



Tyler Durden's picture

And The Award For "Americans' Favorite Government Agency" Goes To...

Gallup recently conducted a poll asking Americans to rate (excellent, good, fair, or poor) thirteen of the most visible agencies/quasi-agencies of the United States government... the winner may surprise you (as a taxpaying member of the public).



Tyler Durden's picture

Scorching Demand For 5 Year Treasurys: Indirect Bid Highest On Record

If yesterday's 2 Year stopping through auction was best described as "blistering", then today's 5 Year, which again stopped through the When Issued 1.614% by a whopping 1.9 bps, was nothing short of a scorcher. Oddly enough, in a time when demand considerations should be sparking a lack of primary market demand for paper, investors just couldn't get enough collateral, and as a result while the Dealer bid was quite possibly a record low 25.1%, it was the Indirects that stunned with their aggressive bid, taking down a record 65% of the auction, leaving just under 10% for Direct bidders. Finally, the Bid to Cover left little to the imagination: soaring from last month's paltry 2.36, it jumped to 2.91, the highest print since March. Needless to say the entire curve buckled tighter on the news, with the yield on the 10 Year printing at a day's low of only 2.279% as once again all the "economic recovery" shorts are left scrambling.



Tyler Durden's picture

Oil Rebounds On Reports OPEC Will Cut Supply, Seek Stricter Compliance

Less than two hours after Venezuela noted that no supply cut had been pre-agreed, The Wall Street Journal reports...

*OPEC MEMBERS SAID TO MOVE TOWARD CUTTING OIL SUPPLY: WSJ

And oil prices are jumping. However, a big below the surface shows this story is more about stricter compliance than an actual supply cut.



Tyler Durden's picture

Michael Brown's Parents (And Al Sharpton) Address Media: Investigation Was 'Broken' - Live Feed

Having shifted from a call for calm ("we want peace"), to understandably emotionally proclaiming "burn this bitch down," right after the decision last night (noting "profound disappointment"), Michael Brown's parents are preparing to make a statement (along with Al Sharpton)... claiming that the investigation was 'broken' but once again calling for peace.



Tyler Durden's picture

A Tale Of Two Credit Markets: New Auto Loans Highest In 9 Years As New Mortgages Slump Near Record Lows

Remember when three weeks ago, everyone was stunned as the Manufacturing ISM soared to new 3 year highs, continuing this summer's trend of blistering manufacturing, which was largely attributed to a burst of automotive production? Now, courtesy of the latest Q3 household credit report by the NY Fed, we know just how it was funded. According to the report, some $105 billion in new car loans were issued is the third quarter, the highest amount since 2005, and just $20 billion shy of an all time high. That's the good news. The bad news as Equifax reported two months ago, new subprime loan origination is trending at about 31% and rising. And what's worst, is that recently both Moody's and Fitch joined forces in making up for their past oversights, and "slammed subprime auto bonds" suggesting this latest bout of subprime driven euphoria boosting the US manufacturing sector may not last. Or it may: after all the central banks are always on the lookout for new things to monetize.



Tyler Durden's picture

Ferguson Fatality: Black Male In 20s Found Burned & Shot Dead In Trunk Of Car

Multiple sources overnight reported gun fire around Ferguson and while one police officer was reported shot in the leg, this morning, the night's first fatality has been discovered. As NY Daily News reports, police found a body inside a car parked near the Canfield apartment complex in the St. Louis suburb, close to where 18-year-old Michael Brown was shot dead in August. The victim, a black male in his 20s, was shot and burned in the trunk of a white Pontiac car with the driver's side window shot out.



Tyler Durden's picture

Nothing Has Changed - And That's The Problem

Since moral hazard - the disconnect of risk and consequence - is the fundamental cause of the global meltdown of 2008, the only solution is to eliminate moral hazard. By this we mean de-institutionalizing moral hazard. But de-institutionalizing moral hazard means smashing the vested interests' primary engine of wealth and political power.  Playing monetary games has done nothing to eliminate moral hazard; indeed, playing monetary games cannot possibly eliminate moral hazard, as monetary policy enforces moral hazard.



Tyler Durden's picture

How The World's Most Leveraged Hedge Fund Got Away With Insider Trading

"... Shortly after returning from a trip in late 2009, Farmer erased electronic notes, in Microsoft Word format, that were stored on thumb drives, Zip drives and a shared drive at Citadel, agents wrote in a summary of one of the interviews with him. Farmer also threw away his handwritten notes because that was his normal practice and because they were incriminating, agents wrote. Farmer got rid of e-mails as well, according to their summary. “This,” they wrote, “wiped the slate clean."



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