• EconMatters
    11/30/2015 - 16:21
    The ISIS group sells most of its crude directly to independent traders at the wellhead for $20-$45 a barrel earning the group an average of $1.5 million a day.

Black Friday

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Frontrunning: November 30

  • Dollar rises versus euro, oil drops before ECB, OPEC meetings (Reuters)
  • Smog chokes Chinese, Indian capitals as climate talks begin (Reuters)
  • Obama: COP21 Paris Climate Talks Could Be ‘Turning Point’ For Planet (BBG)
  • China plans to launch carbon-tracking satellites into space (Reuters)
  • Scientists Dispute 2-Degree Model Guiding Climate Talks (WSJ)
  • At NATO, Turkey defiant over downing of Russian jet (Reuters)
  • ECB Left With No Choice But Action After Draghi's Priming (BBG)
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Futures Rebound On Latest Chinese Intervention, Renewed Hopes For "Moar From Mario"

Without a rerun of last Friday's Chinese stock market rout, European traders could focus on what "really matters", namely how much of the ECB's upcoming 20 bps rate cut and €20 billion QE expansion (with Commerzbank saying Draghi may even hint at Europe's QE3) is priced in, and whether the ECB's actions are just modestly priced in, or more than fully, and just how big the "sell the news" event will be.The result: the Euro falls to a new 7 month low, the dollar spot index hits a new all time high, and European stocks and US futures stage another remarkable overnight comeback on the usual low volume levitation and central bank intervention.

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Black Friday Total Sales Crash 10% (Despite Rise In Online Spend)

We can hear the mainstream media now - "Great News Everyone!! The American consumer is back" - online sales on Black Friday rose 10% to $1.7 billion which ComScore says shows "strong spending." The only problem is - which we suspect will be oddly missing from the mainstream narrative, as ShopperTrak reports total sales on Black Friday crashed 10% to $10.4 billion. While blame has been placed on early opening on Thanksgiving, that is false too since spending on that day also plunged 10%. So, the sales news is unequivocally bad - which is hardly surprising given the collapse in consumer confidence.

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If Black Friday Was A Movie

Put aside 4 minutes of your day to poke some fun at America’s leading religion: Consumerism.

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Europe's Black Weekend

If the end justifies the means, and we make sure there never is an end to this, then arms will continue to be traded, profits will continue to be made, and lies will be told till no-one can tell up from down, since all means are justified until the end of time. That this leaves us morally utterly rudderless then becomes just another one of those justified means. Anything goes.

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2015: The Year Of The American Identity Crisis

Usually, an identity crisis is temporary. Eventually, people discover a healthy identity for themselves and a sense of stability returns to their lives. But, under such constant political mismanagement and widespread criminality, what chance is there for a stable future? Very little it seems.

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KaleBios 'Black Friday' Begins As Shrekli Forces 65% Short-Squeeze Surge In Pre-Market

Having announced in two brief tweets on Thanksgiving - just as we warned was very possible - that he would pull his shares from being available-to-lend, Martin Shrekli has sent the meteoric Volkswagen-like trajectory of KaleBios vertical once again. With short-interest having surged to 49% (from 5.6%), the yanking of his loanable shares has sent KBIO up 65% in the pre-market, back above $45 (from just 45c 10 days ago).

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China Plunges Most In Three Months, Pushing "Black Friday" Into The Red For Global Stocks

After several months of artificial, centrally-planned calm in Chinese markets, where "malicious sellers" found out the hard way the Politburo means business, overnight the relative quiet in Chinese stocks since August broke with a bang when the Shanghai Composite tumbled as much 6.1% before closing down 5.5%, the biggest drop in three months and the largest weekly loss since the depth of the Chinese rout in mid-August while a gauge of Chinese volatility surged from the lowest level since March.

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Frontrunning: November 25

  • European stocks up, oil slides as concerns ease over Russia-Turkey tension (Reuters)
  • ECB discusses two-tiered bank charges, broader bond buys (Reuters)
  • New agonies, alliances as Fed debates post-liftoff plan (Reuters)
  • A New Military Power Rises in the Mideast, Courtesy of One Man (BBG)
  • Russia's Gazprom says halts gas supplies to Ukraine over payment (Reuters)
  • Other central banks set to act, but Swiss policy cupboard bare (Reuters)
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This Thanksgiving, Let's Say "No Thanks" To The Tyranny Of The American Police State

These are abuses that no American should tolerate from its government, and yet not only do we tolerate them, but we help to advance them by supporting meaningless elections, allowing ourselves to be divided by partisan politics, and failing to hold the government accountable to abiding by the rule of law, the U.S. Constitution. Mark these words: if we do not push back against the menace of the police state now, if we fail to hold onto the Constitution and our constitutional republic, and if we allow the government to remain the greatest threat to our freedoms, then future Thanksgivings will find us paying the price with tyranny at home and anarchy throughout the world.

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Key Economic Events In The Holiday-Shortened Week

It may be a holiday shortened week in the US with Thanksgiving and Black Friday sales on deck (some of which may be starting as soon as Wednesday) but there is a lot of macro data to digest in the next few days.

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Is Santa Poised To Fill Christmas Stockings With Coal?

Perhaps a retail coals-in-the-stockings Christmas will awaken the mainstream media to the reality that recession is now a global phenomenon.

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