European Union

Tyler Durden's picture

Frontrunning: September 10





  • Obama Shrinking Second-Term Hastened by Syria Opposition (BBG)
  • Obama says Russian proposal on Syria a potential 'breakthrough' (Reuters)
  • Poll Finds Support Fading for Syria Attack (WSJ)
  • France to Introduce Resolution Aimed at Dismantling Syria's Chemical Arsenal (WSJ)
  • Apple to Unveil IPhones Seeking End to Year of Struggles (BBG)
  • Verizon Plans Largest Debt Sale Ever: Proceeds From Deal, Expected to Raise $20 Billion, Would Fund Venture Buyout (WSJ)
  • Shipping Rates Seen at 2010 High on Record Ore to China (BBG)
  • Ads coming to Twitter: Twitter makes its largest acquisition, a mobile ad company (FT)
  • Houses on fire as fighting erupts in southern Philippines (Reuters)
  • Banks Seen at Risk Five Years After Lehman Collapse (BBG)
 
Pivotfarm's picture

Fear Increases Productivity and the Old





We live in a throw-away world where we don’t repair and as soon as things start looking a bit shabby round the edges and curled up as if they were sandwiches left over from the night before, with the hangover thrown in for good measure, we just bin them. 

 
Tyler Durden's picture

Worse Than Expected US Trade Deficit Spikes In July, Trade Gaps With China, EU Rise To Record





When last week the revised Q2 GDP print was announced, which beat expectations solidly driven entirely by a surge in net exports, we said that "with China on the rocks and tightening, the Emerging Markets in free fall, and Europe still a net exporter (so not benefiting the US), anyone hoping this trade led-recovery will be sustainable, will be disappointed." Sure enough, the first trade data update for the third quarter as of July, confirmed just this, as the trade deficit widenedfrom a revised $34.5 billion deficit, to a substantially larger monthly deficit, amounting to $39.1 billion. This was $500MM more than consensus expected, or $38.6 billion, and it means that as we predicted, the downward revisions to Q3 tracking estimates are about to start rolling in, trimming ~0.1%-0.2% from US GDP for this current quarter. Specifically, imports for the month rose from $225.1 billion to $228.6 billion while exports fell from $190.5 billion to $189.5 billion. But perhaps most notable is that in July, the US trade deficit with China and the EU rose to a record of $30.1 billion (from $26.6bn last month) and $13.9 billion (from $7.1bn) respectively.

 
Tyler Durden's picture

Guest Post: How The UK Government Approved Sarin Gas Components For Export To Syria In 2012





A nation pushing toward war as a distraction from internal problems and political failures is as old as human civilization itself. It is a tried and true method for hanging on to positions of power and often ends up in massive displays of destruction, chaos and death. Sadly, we find ourselves on the precipice of such a moment right now. Not only did the U.S. government and intelligence agencies play key roles in Saddam’s far worse chemical weapons attacks in the 1980?s, but now we discover that the UK had approved sarin gas components for export to Syria as recently as last year! The sale was only blocked due to EU regulations.

 
Pivotfarm's picture

Chemical Weapons: Hoax!





The newspapers of the mainstream media across the Western world are jumping on the same bandwagon and making sure that the most used word this week is Syria followed closely by ‘bomb the b’stards’.

 
Tim Knight from Slope of Hope's picture

Surreal Sadistic Syrian Subterfuge





The conclusions I have come to are somewhat threatening in the short term, but even more disconcerting in the intermediate term, as the developing image is exposing a crystal clear picture of the ominous resource wars looming directly ahead. Equally dismaying, are the "honorable distinguished gentlemen" presiding over this Middle East mayhem, which are showing themselves to be either grossly incompetent cretins or dangerous duplicitous megalomaniacs

 
Tyler Durden's picture

Frontrunning: August 29





  • UN Insecptors to leave Syria early, by Saturday morning (Reuters)
  • Yellen Plays Down Chances of Getting Fed Job (WSJ)
  • JPMorgan Bribe Probe Said to Expand in Asia as Spreadsheet Is Found (BBG)
  • No Section 8 for you: Wall Street’s Rental Bet Brings Quandary Housing Poor (BBG)
  • Euro zone, IMF to press Greece for foreign agency to sell assets (Reuters)
  • Brothels in Nevada Suffer as Web Disrupts Oldest Trade (BBG)
  • U.S., U.K. Face Delays in Push to Strike Syria (WSJ); U.S., U.K. Pressure for Action on Syria Hits UN Hurdle (BBG)
  • Renault Operating Chief Carlos Tavares Steps Down (WSJ)
  • Vodafone in talks with Verizon to sell out of U.S. venture (Reuters)
  • Dollar Seen Casting Off Euro Shackles as Fed Tapers (BBG)
 
Tyler Durden's picture

Despite "Austerity" Greek Debt Is Rising At Its Fastest Rate Since March 2010





The total amount of Greek government debt outstanding has grown so much over the last 15 months that it has retraced over 60% of the 'haircut'-based reduction and has jumped a stunning 14.5% in that period. As KeepTalkingGreece notes, this is despite three years of strict austerity measures, incredible taxes and a debt haircut of 53% (~100billion euros in March 2012). As To Vima reports, Greek debt stands at EUR 321 billion, which is considerably higher than the pre-crisis levels of 2009. Is it any wonder that Merkel and Schaeuble have been forced to admit that a new bailout will be required? And how long before a 'new template' will be enforced?

 
George Washington's picture

Experts Doubt Syrian Chemical Weapons Claims





Preliminary Evidence Indicates that the Syrian Government Did NOT Launch a Chemical Weapon Attack Against Its People

 
Tyler Durden's picture

Guest Post: 1987 Redux





Let’s see. Consumers are carrying more debt than they did in 2007. Corporations are carrying more debt than they did in 2007. The Federal government is carrying 60% more debt than it did in 2007. Cities and States are carrying more debt than they did in 2007. Interest rates have jumped by 80% in the last three months. The economy is clearly in recession, as retailer after retailer reports horrific results. Stocks are as overvalued as they were in 1929, 2000, and 2007. China is experiencing a real estate collapse. Japan is experiencing a cultural/economic/societal collapse. The Middle East is awash in blood. The European Union is held together by lies, delusion and false promises. What could possibly go wrong?

 
Tyler Durden's picture

US Refines "Military Options" Ahead Of Syrian Strikes





Now that the US has made up its mind once more and "knows" that Wednesday's chemical attack in Syria was conducted by the government and targeting the "rebels", even as the "developed" west calls for a UN investigation to determine just that, and as the US (including the CIA), Israel and Jordan have already sent an advance military force into Syria to conduct more false flag provocations and blame it on the regime, the only next step is to soften and prepare popular opinion for what comes next. And what comes next is on the front page of the WSJ this morning: "The U.S. began refining its military options for possible strikes in Syria, officials said... Officers at the Pentagon on Thursday were updating target lists for possible airstrikes on a range of Syrian government and military installations." Then again we have seen all this before. Surely, one of these times the administration will actually go ahead and push the button instead of just talking about it.

 
Tyler Durden's picture

Frontrunning: August 22





  • SURPRISE - Goldman Sachs won a preliminary victory to limit losses from a wave of erroneous trades that roiled U.S. options markets (WSJ)
  • HP’s Whitman abandons 2014 revenue growth target (FT) - just keep doing those buybacks and ignore CapEx: revenue growth estimated in 2022
  • Republicans in Echo Before Big Burn Defy Affordable Care (BBG)
  • China's banks to take next step in rate reform push  (Reuters)
  • Berlin’s Consistency on Greece’s Rescue (FT) and lack thereof
  • Summers as Obama Voice of Authority Rides Car Rescue in Fed Race (BBG)
  • Cuomo in Manure Fight as New York Promotes Yogurt (BBG)
  • Yellen’s Ties From London to Shanghai Bypass White House (BBG)
  • Sanctions Gap Allows China to Import Iranian Oil (WSJ)
 
Tyler Durden's picture

Frontrunning: August 19





  • Egypt, U.S. on Collision Course (WSJ), Gunmen kill 24 Egyptian police in Sinai ambush (Reuters)
  • India’s efforts fail to prevent new rupee low (FT)
  • More bad news for AAPL: Steve Jobs Biopic Crashes on Opening Weekend (WSJ)
  • "Sustainable" - U.S. Stocks Beat BRICs by Most Ever Amid Market Flight (BBG)
  • Merkel cancels election rally after hostage taking (Reuters)
  • Some day, Abenomics might work... Not today though: Japan Exports Rise Most Since ’10 as Deficit Swells (BBG)
  • China July Home Prices Rise as Nation Seeks Long-Term Policy (BBG)
  • Spanish Bank’s Bad Loan Ratio Rises to Record in June (Reuters)
  • Recovery... for some - Ferrari NART Spyder Sets $27.5 Million Auction Record (BBG)
  • Bund yields hit 17-month high, rupee slumps (Reuters)
  • Regulatory Headaches Worsen for J.P. Morgan (WSJ)
 
Tyler Durden's picture

10 Year Bond Shakedown Continues: Rate Hits 2.873%





It's all about rates this largely newsless morning, which have continued their march wider all night, and moments ago rose to 2.873% - a fresh 2 year wide and meaning that neither Gross, nor the bond market, is nowhere near tweeted out. As DB confirms, US treasuries are front and center of mind at the moment.... the 10yr UST yield is up another 4bp at a fresh two year high of 2.87% in Tokyo trading, adding to last week’s 20bp selloff. As it currently stands, 10yr yields are up by more than 120bp from the YTD lows in early May and more than 80bp higher since Bernanke’s now infamous JEC testimony. We should also note that the recent US rates selloff has been accompanied by a rapid steepening in the rate curve. Indeed, the 2s/10s curve is at a 2 year high of 250bp and the 2s/30s and 2s/5s are also at close to their highest level in two years.

 
Tyler Durden's picture

Latest Greek Corruption Scandal Costs New Privatization Agency Head His Job





For the past five years Greece, stuck in its worst depression in history with two-thirds of work eligible youths unemployed, has been actively blaming all of its problems on "(f)auxterity" even as we said all along that the Greek problems have nothing to do with how much money its government spends and everything to do with corrupt, complicit and frequently criminal politicians. Today we got the latest confirmation that we were correct after the Greek finance minister Stournaras asked for the resignation of the Greek privatisation agency chief, Stavridis, following a newspaper report that he traveled on the private plane of a businessman who just bought a state company with Stavridis' blessings.

 
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