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The Most 'Distrusted' News Sources In America

You know there's a problem with the media when Al-Jazeera is trusted more than NBC, CNN, and MSNBC...



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Russia Deploys Troops, Robots Along Entire "2nd Middle East" Arctic Belt

On the heels of Sweden's military deployment (following the discovery of a damaged Russian sub), it appears Russia is taking no chances with its access to Arctic resources.As Reuters reports, the Russian defense minister announced today that Russian military units will be deployed along the entire Arctic border from Murmansk to Chukotka in 2014. Interfax adds that combat robots are also being deployed to protect Russian oil and gas infrastructure in the harsh environment of the Arctic. This should be no surprise as The Guardian notes, the Arctic’s hydrocarbon resources nevertheless exert a powerful pull. It has been compared to "a second Middle East", with oil and gas reserves thought to represent 17% and 30%, respectively, of the global total.



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Subprime Bubble Pop 2.0? Department Of Financial Services Slams America's Largest Subprime Servicer

In what may be a resounding echo of March 2006, moments ago the New York Superintendent of Financial Services said that Ocwen had engaged in abuses that could potentially harm hundreds of thousands of borrowers. As AP reports, the state regulator issued a letter Tuesday to Ocwen Financial Corp., documenting the same kinds of suspicious actions that worsened the housing crisis and the Great Recession.



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In Uncharted Waters

Extend the trendlines in these charts, and then ask yourself: where do they end? What will they trigger as they push ever deeper into uncharted waters?



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WTF Chart Du Jour: The Broken Market Fallacy

As every good Keynesian 'knows', broken-windows are good for the economy; so that must mean that 'broken markets' are good for the... markets?



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The Magic Number Is Revealed: It Costs Central Banks $200 Billion Per Quarter To Avoid A Market Crash

"For over a year now, central banks have quietly being reducing their support. As Figure 7 shows, much of this is down to the Fed, but the contraction in the ECB’s balance sheet has also been significant. Seen from this perspective, a negative reaction in markets was long overdue: very roughly, the charts suggest that zero stimulus would be consistent with 50bp widening in investment grade, or a little over a ten percent quarterly drop in equities. Put differently, it takes around $200bn per quarter just to keep markets from selling off."



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Is This Why Stocks Are Soaring?

"... it does not appear that we shall see the S&P futures trade into “The Box,” and that makes us all the more suspicious of share prices generally, for a market than cannot even retrace 50-62% of its previous weakness is a market that is weaker, internally, than it might at first appear. Worse, failure here suggest that a fully-fledged bear market has begun, for this would be a clear failure well below the highs of the last interim rally, with the lows of the last interim break having already been taken out to the downside." - Dennis Gartman



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NYSE Gives Up Trying To Fix Itself

The NYSE has given up on re-opening the following 150 symbols in cash equities trading today... (including AAPL, XIV, and TVIX)



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Homeland Security To Restrict West Africa Travelers Entry To America

While President Obama has declared his experts say banning travel from the Ebola-stricken West African nations is not the optimal route to stopping the deadly virus' spread in the US, Homeland Security has a different plan as  Rep. John Conyers comments:

*CONYERS: EBOLA NATION TRAVELERS CAN ONLY GO THROUGH 5 AIRPORTS
*U.S. TRAVEL RULE WOULD AFFECT LIBERIA, SIERRA LEONE, GUINEA

Good thing Ron Klain is involved in the decision-making process... oh wait... But in irony of ironies, Rwanda has started screening US and Spanish arrivals fo Ebola too...



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Battleships And Helicopters Join Hunt For Missing Submarine: Sweden Prepares To "Use Weapons To Surface Sub"

Sweden's military has announced that if it finds a suspect foreign vessel in the Stockholm archipelago, it is prepared to force it to the surface "with weapons if necessary". "Our aim now is to force whatever it is up to the surface... with armed force, if necessary," he added. He added that submarines are "extremely difficult" to find, and that Sweden has never succeeded in the past when it came to tracking them down. "And no one else has either," he added.  If the sub is indeed Russian, it would be quite a hit for Sweden, which in more than a decade of hunting Russian U-boats in the 1980s and early nineties, never succeeded in capturing one, except in 1981 when the U137 ran aground several miles from one of Sweden's largest naval bases, triggering an embarrassing diplomatic stand-off for Russia.



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Dummies Guide To President Obama's Early Warning System

Presented with no comment...



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According To Goldman, This Is Why China's GDP Was Better Than Expected (Spoiler Alert: Weather)

Fast forward to last night, when instead of the much hoped for Chinese GDP drop - because it would certainly unleash the greatly delayed Chinese liquidity firehose so hoped for by all the BTFDers who need at least once central bailout per day to keep up the charade - China reported GDP which beat expectations, leading to many sad faces on Wall Street, and forcing Reuters to leak the infamous ECB buying corporate bonds article, since refuted, which served as the overnight ramping catalyst. So what is the "explanation" for this unpleasant, for once, economic beat? Why, the weather of course!



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Existing Home Sales Jump To Highest Since Sept 2013. Midwest Tumbles 5.3%

Existing Home Sales bounced back from the worst miss in 2014 in August to print 5.17mm SAAR - the highest since September 2013. Of course the surge is driven by Condos/Co-Ops (up 5.2%) rather than single-family homes (up 2.0%) and median home prices are the highest ever for a September at $209,700. It was not all ponies and unicorns though as Midwest saw sales plunge 5.6%. NAR's Larry Yun has some crucial insight for why home sales are rising..."Economic instability overseas is leading to volatility in the stock market and is causing investors to seek safer bets [in housing]," so we assume he is disappointe dby the 1000s of Dow points we have surged off last week's lows?



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And The NYSE Breaks...



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Hong Kong Chief: Can't Have Democracy Or The Poor Will Have A Say

Clearly, Leung Chung-Ying, Hong Kong's embattled leader, did not get the Jean-Claude Juncker memo that "when things are bad, you have to lie." As The NY Times reports, Leung - rather stunningly - said overnight that it was unacceptable to allow his successors to be chosen in open elections, in part because doing so would risk giving poorer residents a dominant voice in politics. Instead, rather unsurprisingly, he backed Beijing's position that all candidates to succeed him as chief executive, the top post in the city, must be screened by a "broadly representative" nominating committee appointed by Beijing, and offered several thinly veiled warnings on Monday that it was risky for the protesters to try the patience of the national authorities.



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