How this will all end up is obvious to anyone: the EU Crisis will return and the whole mess will come crashing down.
The summer, thankfully, has been largely bereft of the dismal trend of bankers committing suicide, but as Bloomberg reports, Thierry Leyne, a French-Israeli banker and partner of Dominique Strauss-Kahn, the disgraced former chief of the IMF, was found dead Thursday after apparently taking his own life by jumping off the 23rd floor of one of the Yoo towers, a prestigious residential complex in Tel Aviv. This is the 16th financial services executive death this year.
NYC Doctor Confirmed Positive For Ebola; Contact With Girlfriend (Quarantine) & 3 Others; "Unlikely" Contagious On SubwaySubmitted by Tyler Durden on 10/23/2014 23:52 -0400
*PATIENT IN NYC TESTS POSITIVE FOR EBOLA, NEW YORK TIMES SAYS, EBOLA PATIENT GIRLFRIEND QUARANTINED: CNN
*TREASURIES ADVANCE, S&P 500, NASDAQ 100 FUTURES EXTEND DECLINES ON EBOLA REPORT
Cuomo: "There is no reason for New Yorkers to be alarmed..." *HAVE IDENTIFIED 4 PEOPLE IN CONTACT WITH EBOLA PATIENT, PATIENT WENT ON 3-MILE JOG, BOWLING, SUBWAY
Dr Craig Spencer, 33, who returned to the U.S. ten days ago from Guinea, was admitted to Bellevue Hospital in midtown Manhattan on Thursday and is being cared for in isolation. The doctor flew to Africa on September 18 to treat patients in Guinea with non-profit organization, Medecins San Frontieres (MSF). On October 16, he checked in at a hotel in Brussels, Belgium, presumably on his return journey from Guinea to the U.S.
130 banks are being tested. 12-18 will fail. And on top of that, almost a third of 130, that’s over 40, will pass while still getting their feet wet. That means anywhere between 40% and 44% of Eurozone banks either fail or are in bad shape. If 40% of your banks are either dead in the water or barely floating, I’d say you have a major problem. We all know our world, be it politics or economics, consists almost exclusively of spin these days, but in the face of these numbers we very much wonder how many people will be willing to bet their own money that Europe can get away with another round of moonsmoke and roses come Monday.
Equity Levitation Stumbles After Second ECB Denial Of Corporate Bond Buying, Report Of 11 Stress Test FailuresSubmitted by Tyler Durden on 10/22/2014 06:57 -0400
If the ultimate goal of yesterday's leak was to push the EUR lower (and stocks higher of course), then the reason why today's second rejection did little to rebound the Euro is because once again, just after Europe's open, Spanish Efe newswire reported that 11 banks from 6 European countries had failed the ECB stress test. Specifically, Efe said Erste, along with banks from Italy, Belgium, Cyprus, Portugal and Greece, had failed the ECB review based on preliminary data, but gave no details of the size of the capital holes at the banks.
Netflix Obliterated After Guiding To Half Expected Q4 EPS, Streaming Adds Hit Brick Wall: Stock Down $100Submitted by Tyler Durden on 10/15/2014 16:16 -0400
Curious why Netflix is being obliterated after hours, plummeting to 5 month lows, down some $100, or 24% after hours after reporting earnings? The answer is highlighted in the Q3 investor letter, and specifically the red highlighted number, which is NFLX' guidance for Q4 EPS...
And just like that. everything is crashing. Whether it is Asia, Europe, or even US futures, an entire generation of traders are waking up to something few have seen in the past 6 years: a very rare sea of red only this time with the main difference that the perpetual backstop of all risk, the Fed and/or "Edward Quince", may not be there to halt the collapse.
Given our previous comments that "air traffic is the driver," it is perhaps not surprising that the Obama administration announced Wednesday that airline passengers arriving from the three West African countries experiencing an unprecedented Ebola outbreak will now be screened for potential exposure to the deadly disease when they arrive at five major U.S. airports. The screening will include having their temperatures taken. As AP's Alicia Caldwell explains, here are five things you need to know about the screenings...
Just hours after the World Health Organization warned "It is quite unavoidable, that [Ebola] incidents will happen in the future because of the extensive travel both from Europe to the affected countries and the other way around," CDC Director Tom Frieden announced that:
U.S. TO ANNOUNCE FURTHER TRAVEL MEASURES VS EBOLA IN DAYS: CDC
This merely confirms all suspicions and our earlier note that 'air traffic is the driver' of global contagion.
Despite being described by Spain's public health director as "a national jewel," the head of Spain's Nursing Council warns "something went wrong" in the health care system's protocols. As RT reports, Spanish health officials have 4 patients interned including infected initial nurse, her husband, and a 2nd nurse (male). Furthermore, 22 more possible Ebola cases are under surveillance having had direct contact with the infected nurse during her vacation after being infected (officials have said they 'don't know' how she became infected with the deadly virus). Images within the hospital show "irregularities" and make-shift isolation units and an insider account said "I do not want to create social alarm, but explain what is still a reality everyday for a few months of nursing staff at the ICU.". One researcher noted "air traffic is the driver.," and added ominously, "it's just a matter of who gets lucky and who gets unlucky."
"...it is rather medieval. But what can you do? Even in 2014, we hardly have any way to combat this virus... There will certainly be Ebola patients from Africa who come to us in the hopes of receiving treatment. And they might even infect a few people here who may then die... I am more worried about the many people from India who work in trade or industry in west Africa... that really is the apocalyptic scenario."
Another humanitarian catastrophe may be just hours away at Kobani - a Syrian Kurdish town on the border with Turkey that is now surrounded by ISIS tanks and is being pounded day after day by ISIS heavy artillery. Already this lethal phalanx, which fuses 21st century American technology and equipment with 12th century religious fanaticism, has rolled through dozens of Kurdish villages and towns in the region around Kobani, sending 180,000 refugees fleeing for their lives across the border. Self-evidently the lightly armed Kurdish militias desperately holding out in Kobani are fighting the right enemy - that is, the Islamic State. So why has Obama’s grand coalition been unable to relieve the siege?
Central planners should be careful what they wish for...
Straight forward discussion of the key events next week. Weak on bluster. Strong on analysis. You've been warned.