Australia

Paul Craig Roberts: 'Sauron' Rules In Washington

"To feel secure in its hegemony, Washington would have to order Russia and China to disarm. This plan is full of risks. Miscalculations are a feature of war. It is reckless and irresponsible to risk the life of the planet for nothing more than Washington’s hegemony."

Why We Should Be Concerned About Low Oil Prices

Most people assume that oil prices, and for that matter other energy prices, will rise as we reach limits. This isn’t really the way the system works; oil prices can be expected to fall too low, as we reach limits. Thus, we should not be surprised if the OPEC/Russia agreement to limit oil extraction falls apart, and oil prices fall further. This is the way the “end” is reached, not through high prices.

These Are The Most Expensive (And Best) Cities Around The World

Every year Deutsche Bank releases its fascinating index of real-time prices around the world which looks at the cost of goods and services from a purchase-price parity basis, to determine the most expensive - and in this year's edition, best - cities. Here is what it found this year...

Earth Overshoot: How Sustainable Is Population Growth?

For decades people have been predicting overpopulation would wipe out energy resources if not the entire planet. Every year the population bomb and peak oil crowd have been proven wrong. But how long can the status quo of generating growth by population explosion last?

"A Nightmarish Picture For Iron Ore Prices" Has Emerged, Axiom Warns

"We expect steel supply in China to begin to moderate imminently; stated differently, this suggests iron ore demand is in the process of waning, which, against a backdrop of near-record/record iron ore inventories and aggressive domestic and seaborne iron ore supply, paints a nightmarish picture for iron ore prices over the coming months."

Global Stocks Dip On Poor US Auto Sales, Apple Miss; Fed Decision On Deck

European, Asian stocks and S&P futures all fall as investors digested poor overnight news on Apple earnings and U.S. car sales, while the dollar rose in muted trading as investors contemplated chances of another rate hike next month ahead of today's Federal Reserve statement.

Former Facebook Exec: "They're Lying Through Their Teeth"

"The ethics of Facebook’s micro-targeted advertising was thrust into the spotlight... Facebook claimed the report was misleading, assuring the public that the company does not 'offer tools to target people based on their emotional state'... I’m here to tell you I believe they’re lying through their teeth."

Global Stocks Hit All Time High As Fed Meeting Begins

With the Fed set to begin its latest 2-day meeting, S&P futures are little changed with European and Asian stocks higher after the VIX dropped to a 10 year low and the Nasdaq rose to record highs, sending the MSCI All-Country Index back to all time highs, as global markets reopen after holiday with investors focusing on stronger corporate earnings, while ignoring weaker than expected "hard" economic data and geopolitical concerns.

The Existential Question Of Who To Trust

"The looming threat of World War III is made more likely because the world’s public can’t count on supposedly objective experts to ascertain and evaluate facts. Instead, careerism is the order of the day among journalists, intelligence analysts and international monitors – meaning that almost no one who might normally be relied on to tell the truth can be trusted."

Where Do You Go In A 'Hurricane'?

We’ve passed the point of whether there’ll be a hurricane; we just can’t be sure how severe it’ll be. The winds are already picking up and those who choose to make a move will need to do so soon.

Futures Rise On Government Funding Deal; Most Global Markets Closed For Holiday

With much of Europe and Asia, including the U.K., France, Germany and China markets closed for Labor Day, Asian stocks and the dollar rose buoyed by news that Congress had reached a deal to keep the US government funded through the end of September. S&P futures are up 4 points or 0.2%. Oil declined as rigs targeting crude in the U.S. rose for a fifteenth week and output from Libya rebounded.

The Relentless Push Towards War

"The only real constant to be found in both European and US politics is war. It doesn’t seem to matter who’s in office in the US - Republican/Democrat, conservative/liberal - there’s a war machine constantly running. My concern is that there's a building risk that one day that war machine is going to bust apart."

Amazon Soars To New All Time High After Smashing Expectations

After two consecutive quarters of disappointing earnings reports (which however failed to keep the stock down), AMZN is back to its beating ways, reporting both revenue and EPS which blew away expectations, sending the stock to new all time highs.

Paul Craig Roberts Warns "Trump Now A Captive Of The Deep State"

"I spent a quarter century in Washington. The evil that is in control there at the present time is unprecedented. I have never seen anything like it. Can the world survive the evil that is concentrated in Washington, evil that has the support of the governments of the Western world?"