- Sydney Siege Sparks Muslim Call for Calm Amid Backlash Fear (BBG)
- Oil Spilling Over Into Central Bank Policy as Fed Enters Fray (BBG)
- Biggest LBO of 2014: BC Partners to acquire PetSmart for $8.7 billion (Reuters)
- Tremble algos: the SEC has hired... "QUANTS" (WSJ)
- When the bubble just isn't bubbly enough: There’s $1.7 Trillion Locked Out of China’s Stock Rally (BBG)
- Oil price slide roils emerging markets, yen rises (Reuters) - may want to hit F5 on that
- Libya Imposes Force Majeure on 2 Oil Ports After Clashes (BBG) ... and will resume production in days
- Amid Crisis, Pimco Steadies Itself (WSJ)
Europe's banks are vulnerable in 2015 due to weak macroeconomic conditions, unfinished regulatory hurdles and the risk of bail-ins according to credit rating agencies ... Oh what a tangled web, we weave ...
All it takes is a few public beatings to dissuade others from openly considering other factors when researching or discussing climate change.
- Marchers again swarm New York to protest death at hands of police (Reuters)
- N.Y. Police Chokehold Evidence to Stay Secret as Protests Spread (BBG)
- Obama to announce choice of Ash Carter for defense chief Friday: White House (Reuters)
- Boehner vows to avoid government shutdown with help from Democrats (Reuters)
- Brent Heads for 5-Year Low as Saudi Discounts Spur Competition (BBG)
- Will Cheap Oil Lead to Big Mergers? (WSJ)
- Bank of Russia Ramps Up Ruble Support (WSJ)
- China Bad-Loan Level Seen Understated After Economy Slows (BBG)
- Uber Snags $41 Billion Valuation (WSJ)
Nobel Prize Winning Economists, Federal Reserve Chair and Other Top Experts: War Is BAD for the Economy
The global power shift from the West to the East is alive and well
Remember when last December, a bout of cold weather crushed the US economy for the next 3 months, and subtracted about $100 billion from trendline growth, and when one after another economist (who were then predicting the yield on the 10 Year would "greatly rotate" to 4% by right about now, and who expected the US economy to have reached escape velocity in the second half only to see a 2014 GDP trendline as follows Q2: 4.6%, Q3: 3.5% (soon to be reviser lower), and Q4 now estimated just about 2.0%) blamed the then -3.0% GDP print on snow in the winter? Well here comes round two, because as CBS reports, "prepare for an invasion from the north. A blast of polar air is about to send temperatures plunging in the heart of America." The polar vortex is back, and this time it means even less business: A mass of whirling cold air will dip southward this weekend, sending the mercury plunging. As the cold air moves south and east, it has the potential to affect as many as 243 million people with wind chills in the single digits in some places and snow.
- CDC says returning Ebola medical workers should not be quarantined (Reuters)
- Sweden’s central bank cuts rates to zero (FT)
- Hacking Trail Leads to Russia, Experts Say (WSJ)
- Discount-Hunting Shoppers Threaten Stores’ Holiday Cheer (BBG)
- Apple CEO fires back as retailers block Pay (Reuters)
- Repeat after us: all China data is fake - China Fake Invoice Evidence Mounts as HK Figures Diverge (BBG)
- FX Traders’ Facebook Chats Said to Be Sought in EU Probe (BBG)
- Euro Outflows at Record Pace as ECB Promotes Exodus (BBG)
- Apple boosts R&D spending in new product hunt (FT)
The last time Industrial production growth was higher than this was May 2010 as IP rose 1.0% against expectations of a 0.4% rise. Last month's print was revised lower, so we swung from worst in 2014 to best in 4 years. Manufacturing rose at a modest 0.5% but it was Utilities that stole the show, surging 3.9% (due to unseasonably high demand for air conditioning). This is the biggest MoM surge in Utilities for a September in at least 10 years. Not exactly sustainable, unless we once again are at the mercy of the weather for US economic growth.
- A Month of Bombs Dropped in One Night of Strikes on Syria (BBG)
- Air strikes in Syria hit Islamic State-held areas near Turkey (Reuters)
- Pimco ETF Draws Probe by SEC (WSJ)
- Shadowy al Qaeda cell, hit by U.S. in Syria, seen as 'imminent' threat (Reuters)
- Yellen Warns on Market Calm Before ‘Considerable Time’ Up (BBG)
- Dudley Says Fed Needs U.S. Economy to Run ‘A Little Hot' (BBG)
- Websites Are Wary of Facebook Tracking Software (WSJ)
- Just a joke now: Barclays Fined Twice in One Day for Compliance Failures (BBG)
- Fired UPS worker kills two supervisors, self, in Alabama shooting (Reuters)
In what appears to be an awkward moment of uncomfortable fact, ABC reports satellite imagery reveals an area of about 20 million square kilometres covered by sea ice around the Antarctic continent - the highest level of coverage since records began. This is the 3rd year in a row that the sea ice coverage has reached a record level - increasing at 1.5% each decade since 1979. However, there is another side to this, as the area covered in sea ice expands scientists have said the ice on the continent of Antarctica which is not over the ocean continues to deplete. The climate is changing, one way or the other.
Climate change continues to drive energy policy, despite the fact that there is no way to reconcile eradicating energy poverty in much of the world with reducing carbon dioxide emissions. This is one of the many conundrums of the climate change debate - a debate that has been taken over by social media and propaganda, while scientists struggle to get back into the game and engage the public.
When it comes to the apocalypse, Krugman likes to have his apocalyptic cake and eat it too. Krugman says that the recent concern about “debts and deficits” was a “false alarm.” He attempts to paint those who were concerned about the debt crisis as scare mongers. He sarcastically says that “the debt apocalypse has been called off.”
"To make this perfectly clear, extreme views on the left or the right end up meeting in the same back parking lot where they agree the people are the great unwashed and are too stupid to see they need to be manipulated and controlled." The people behind the curtain do not change with the change between left and right up in front of the curtain. It is always about power regardless of the side of politics.