• Tim Knight from...
    10/06/2015 - 17:03
    As we head into another earnings season, the bulls better pray to whatever pagan gods they worship that company after company magically defy the downturn that the economy is quite obviously entering.

Gross Domestic Product

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Deutsche Bank Boosts German GDP Forecast Due To "Surge In Immigration"

As the German refugee crisis has now dragged down not only Merkel, whose popularity rating just tumbled to a four year low "reflecting growing concern over the influx of hundreds of thousands of refugees into Germany, a poll showed on Thursday", but has exposed "free speech" advocate Facebook as merely another government propaganda pawn, Germany has been scrambling to find some silver lining on this scandal. It did just that on Friday, when the bank with the greatest amount of notional derivatives in Europe and the world, Deutsche Bank, raised its German 2016 GDP forecast "because the heavy influx of migrants would increase consumption as much as half a percentage point."

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Portugal's Ruling Coalition Prevails As Country Votes In What Amounts To Austerity Referendum

The results from Portugal's elections are beginning to trickle in and according to exit polls, Coelho's coalition has prevailed. According to Bloomberg, the ruling coalition of Prime Minister Pedro Passos Coelho has won 38%-43% of vote and 108-116 seats.

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Citi Discovers The Culprit For Poor Jobs Data...

The shark jumping continues as Citi says its analysts "have found serious residual seasonality in payroll reports for the period from August through October"...

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Saudi Prince Calls For Royal Coup

“The king is not in a stable condition and in reality the son of the king [Mohammed bin Salman] is ruling the kingdom,” the prince said. “So four or possibly five of my uncles will meet soon to discuss the letters. They are making a plan with a lot of nephews and that will open the door. A lot of the second generation is very anxious.”

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The "Hard-Landing" Has Arrived: Chinese Coal Company Fires 100,000

In a move that would make even Hewlett-Packard's Meg Whitman blush, Harbin-based Heilongjiang Longmay Mining Holding Group, or Longmay Group, the biggest met coal miner in northeast China which has been struggling to reduce massive losses in recent months as a result of the commodity collapse, just confirmed China's "hard-landing" has arrived when it announced on its website it would cut 100,000 jobs or 40% of its entire 240,000-strong labor force.

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Japan's Abe Unveils New 'Arrows' Wish List: 20% GDP Growth, Higher Birth Rate, & Flying Pig

Having completed his militarist plans, Japanese Prime Minister Shinzo Abe appears to have gone full fantasy-tard with his latest "plans" for the demographically-dead and debt-destroyed nation. "Creating a strong economy will continue to be my top priority," Abe said, a goal he has stunningly under-achieved as Japan heads for its 5th recession in 4 years, but, as Bloomberg reports, it is his new "arrows" of economic hope that has left analysts scratching their heads - 20% economic growth (when its gone nowhere for years), a higher birth rate (as the aging of the nation accelerates and interest in sex plunges), and allegedly a goose that lays golden eggs (well why not?). The collapse of Abe's approval says it all about his 'plan'.

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Yellen "Do-Over" Speech - Live Feed

When risk sold off last week in the wake of the Fed’s so-called “clean relent,” it signalled at best a policy mistake and at worst the loss of any and all credibility. Tonight, Yellen gets a do-over.

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Budget Deficit Explodes Higher In Portugal After Government Throws In Towel On Bad Bank Sale

Newly-upgraded Portugal unleashed a budget bombsell on Wednesday when it revised its 2014 deficit higher by some 60% after a failure to liquidate the predecessor to bailed out Banco Espirito Santo left taxpayers holding a €5 billion bag. 

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VW CEO Winterkorn Steps Down Despite Being "Unaware Of Any Wrongdoing"

Despite saying that press reports of the CEO leaving were "utterly ridiculous", he just did:


One can only wonder what his "retirement" package will be.

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Jim Chanos Compares China's Stock Market To Pig On LSD, Fears "Lost Chinese Decade"

"It’s like a pig on LSD. You don’t know which way it’s going to run"...

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ADB Joins OECD, WTO In Dismal Assessment Of Global Growth

"Softer growth prospects for the People’s Republic of China (PRC) and India, and a slow recovery in the major industrial economies, will combine to push growth in developing Asia for 2015 and 2016 below previous projections."

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Why Has Labor's Share Of GDP Declined For 40 Years?

This long-term erosion of earned income and household finances does not enable "growth" that is based on rising spending and borrowing. If these are no longer possible, the status quo has no Plan B.

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It's Time To "End The Era Of The Fed Put" & Get Back To Basics

How did our financial system weaken to the point where a quarter of a percent increase in rates is more than it can handle?

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The Real Reasons Why The Fed Will Hike Interest Rates

With a complex and disaster-prone system of interdependence causing social strife and chaos, why not just simplify everything with a global currency and perhaps even global governance? The elites will squeeze the collapse for all it’s worth if they can, and a Fed rate hike may be exactly what they need to begin the final descent.

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