Want to throw the world into sheer panic and outright chaos? Then just take out Google. At least that is what a brief five minute outage of the world's favorite search engine on Friday night shows, when after all of Google's services were hit with unprecedented downtime from 3:52 pm until 3:57 pm Pacific Dauylight Time, some 40% of global internet traffic was lobbed off. According to Topsy analytics, tweets per minute skyrocketed around the point that Google went black, from an average of 200 tweets per minute about Google to more than 1,000. "For five freakin' minutes!" one Twitter user complained. Another wrote, "Google was down for five minutes… Is it a sign that the END OF THE WORLD has started?"
My cocaine dealer vs medical device profit margin article bruised a lot of sensitive skin. Good! I aim to wake people up and cause contusions in the politically correct veneer-like epidermis that serves to protect the gross distortion that is the 3rd party payer system healthcare economic bubble.
Obama must be fuming like a pile of something in the pristine Oval Office today as he hears of the latest Edward-Snowden revelations.
The television industry is exploring new business models with the Internet as Internet companies prepare to eat their lunch, just like the classified ad industry. When did you last use paper classifieds?
- Critics Decry Risks Posed by Link Between China's Banks and Bonds (WSJ)
- U.S. retailers say uneven recovery keeps consumers cautious (Reuters) - er, what recovery?
- Easy Credit Dries Up, Choking Growth in China (NYT)
- Fed's Bullard Floats Idea of Small Cuts to Bond Buying (WSJ)
- EU wants one definition of bad loans for bank tests (Reuters) - because in Europe they can't even agree what an NPL is...
- Nagasaki Bomb Maker Offers Lessons for Fukushima Cleanup (BBG)
- With Gmail Overhaul, Not All Mail Is Equal (WSJ)
- Snowden downloaded NSA secrets while working for Dell, sources say (Reuters)
- Apollo co-founder buys into New Jersey Devils (FT)
- Republicans to vote on debate boycott because of Clinton programs (Reuters)
- J.C. Penney Heads for Ninth Quarter of Plunging Sales (BBG)
One solution to Leviathan on the loose!
Earlier today, while looking for a certain picture of president Obama, we used the Google Images function searching for Obama Golfing Pics. We had no idea what Pandora's box we were about to unleash...
Just think of the Goldfish who wanted to die...
A recent survey of asset managers globally, managing USD 27.4 trillion between them, found that 78% of defined-benefit plans would need annual returns of at least 5% per year to meet their commitments, while 19% required more than 8%, "a target of 5% per year can be reached but only by using leverage, shorting, and derivavtives." And sure enough, as Deutsche Bank (DB) reports, in short, investors have rarely been more levered than today! According to DB, a MoM change in NYSE margin debt >10% has to be taken as a critical warning signal as there are astonishing similarities in the sequence of events among all crises. As the S&P 500 just hit a new all-time high, investors might want to ask themselves when it is a good time to become more cautious – yesterday, in our view. Simply put, the higher margin debt levels rise, the more fragile the underlying basis on which prices trade; with even a less severe sell-off in equities capable of triggering a collapse.
Regardless of what I (or you) do throughout the day we're tracked, logged, profiled and otherwise "identified" in a hundred different ways.
- Solyndra Cola: California aims to 'bottle sunlight' in energy storage push (Reuters)
- Ackman may sues himself after all - Penney Board Assails Director William Ackman, Considered 'Rogue' After Releasing Deliberations (WSJ)
- CFTC subpoenas metals warehousing firm as inquiry heats up (Reuters)
- Obama Plan to Revamp NSA Faces Obstacles (WSJ)
- Japan growth slows in second quarter, adds to sales tax uncertainty (Reuters)
- China Urbanization to Hit Roadblocks Amid Local Opposition (BBG)
- Parents Losing Jobs a Hidden Cost to U.S. Head Start Budget Cuts (BBG)
- US seeks better access to Africa as part of trade pact review (FT)
- Singapore Cuts Trade Outlook as China Slowdown Caps Recovery (BBG)
- White House Sifts Fiscal Ideas With Band of Senators (WSJ)
- Spain may ask United Nations for support over Gibraltar (Reuters)
- Michigan Safety Net for Boomers Frays on Bankrupt Detroit (BBG)
Traditionally, metals markets are supposed to be a solid fundamental signal of the physical and psychological health of our overall economy. Steady but uneventful commodities trade meant a generally healthy industrial base and consumption base. An extreme devaluation was a signal of deflation in consumer demand and a flight to currencies. Extreme price hikes meant a flight from normal assets and currencies in the wake of possible hyperinflation. This is how gold and silver markets were originally designed to function – however, welcome you to the wacky world of 2013, where bad financial news is met with the cheers of investors who believe stimulus will last forever, where foreign investors dump the U.S. dollar in bilateral trade while mainstream dupes argue that the Greenback is invincible, and where everyone and their uncle seems to be buying precious metals yet the official market value continues to plunge. The reason our entire fiscal system now operates in a backwards manner is due to one simple truth - every major indicator of our economy today is manipulated by our central bank...
- Fukushima: "300 metric tons of contaminated water were likely leaking into the ocean daily" (WSJ)
- Unexpected strength in China trade data eases some gloom (Reuters) - actually, perfectly expected data fakery
- Pimco, BlackRock Seek to Bar California Mortgage Seizures (BBG)
- How will Amazon's Bezos change The Washington Post? (Reuters)
- Montreal Maine Railway Files for Bankruptcy After Crash (BBG)
- Fed Belongs to Everybody as Public Says It’s Our Money in Crisis (BBG)
- Local Russian TV channel broadcasts rare critical segment about Putin (Reuters)
- Loeb’s Reinsurer With No U.S. Staff Gains From Obama’s Jobs Act (BBG)
- As Berlusconi star fades, daughter Marina tipped as new leader (Reuters)
- Detroit Rattles Muni Market (WSJ)
Foreign companies react; at the expense of already revenue-challenged US tech companies
Ripped from the pages of Marvel Comics, Japanese Anime, or Game of Thrones; the latest cunning solution to what the Japanese admit is an ongoing emergency in Fukushima is, well, creative... Now that TEPCO has been shown to be inept, Abe and his government have sanctioned the funding of a 1.4km wall of ice to surround the building that holds Reactors 1 to 4. No this is not Pacific Rim; as Kyodo reports, chemical refrigerants will keep the underground wall frozen to stop the 400 tons of ground water being pumped into the reactors to cool them from leaking further into the sea water surrounding the catastrophe. This must be a positive for GDP, if 'broken windows' can help the Keynesians (and digging and refilling holes) then why not build a giant ice wall that will require unending energy to refrigerate what is a constantly melting-down core of nuclear awfulness. We wish them luck.