• Tim Knight from...
    10/21/2014 - 18:16
    Want to live near the 0.1% and their problems? May I present to you 258 Middlefield Road, Palo Alto, California, which is located within walking distance from my house and is a mere $1,800,000 (well...

Israel

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A Caliph In A Wilderness Of Mirrors





"He's invincible. He beheads. He smuggles. He conquers. He's the ultimate jack-of-all-trades. No Tomahawk or Hellfire can touch him. He always gets what he wants; in Kobani; in Anbar province; with the House of Saud (which he wants to replace) trying to make Putin (who he wants to behead) suffer because of low oil prices..."

 
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"Either You're The Butcher... Or The Cattle"





The common people are the cattle being led to slaughter. We are kept docile with incessant propaganda from the mainstream media; marketing messages to consume from Madison Avenue; filtered, adjusted, manipulated economic data fed to us by government agencies; an endless supply of iGadgets and other electronic distractions; government education designed to keep us ignorant; 24/7 reality TV on six hundred stations to keep us entertained; corporate toxic processed food to keep us obese and tame; and an endless supply of Wall Street supplied debt to keep us caged in our pens with no hope of escape. The butchers of the deep state have maintained control for decades, but we’re entering a new era.

 
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Frontrunning: October 14





  • No Happy Ending for Investors in Central Bank Fairy Tale (BBG)
  • Ebola Response Strains Hospitals (WSJ)
  • Obama, foreign military chiefs, to thrash out Islamic State plans (Reuters)
  • Draghi’s ‘Whatever It Takes’ Plan on Trial at EU Court (BBG)
  • Too-Big-to-Fail Banks Face Up to $870 Billion Capital Gap (BBG)
  • Iran’s Message to World: You Need Us to Fight Islamists (BBG)
  • Facing new oil glut, Saudis avoid 1980s mistakes to halt price slide (Reuters)
  • Ukraine Grannies Outprice Banks on Hryvnia Black Market (BBG)
  • HK police use sledgehammers, chainsaws to clear protest barriers, open road (Reuters)
  • Gazprom Quarterly Net Rises 13%, Misses Estimate on Ukraine Debt (BBG)
 
Tyler Durden's picture

Key Events In The Coming Week





Today US activity will be very light given the Columbus Day holiday. As DB summarizes, we have a relatively quiet day for data watchers today but the calendar will pick up tomorrow and beyond with a big focus on inflation numbers amongst other things. Indeed tomorrow will see the release of Germany’s ZEW survey alongside CPI prints from the UK, France and Spain. Wednesday’s data highlights will include the US retail sales for September, the Fed’s Beige Book, CPI readings from China and Germany, US PPI, and the NY Fed Empire State survey. Draghi will speak twice on Wednesday which could also be a source for headlines. On Thursday, we will get Industrial Production stats and the Philly Fed Survey from the US on top of the usual weekly jobless claims. European CPI will also be released on Wednesday. We have the first reading of October’s UofM Consumer Sentiment on Friday along with US building permits/housing starts. Yellen’s speech at the Boston Fed Conference on Friday (entitled “Inequality of Economic Opportunity”) will also be closely followed.

 
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A New Age Of IMF Bailouts – Great Britain In The 1970s





Hearing of IMF interventions generally conjures up images of developing nations (and the occasional Eurozone peripheral economy of late) facing some kind of financial difficulty. But it was actually Great Britain, the cradle of the industrialized world, which in 1976 became one of the first countries ever to be "bailed out" by the IMF in the modern sense of the term.

 
Tyler Durden's picture

The Oil Weapon: A New Way To Wage War





It was heinous. It was underhanded. It was beyond the bounds of international morality. It was an attack on the American way of life. It was what you might expect from unscrupulous Arabs. It was “the oil weapon” -- and back in 1973, it was directed at the United States. Skip ahead four decades and it’s smart, it’s effective, and it’s the American way. The Obama administration has appropriated it as a major tool of foreign policy, a new way to go to war with nations it considers hostile without relying on planes, missiles, and troops.  It is, of course, that very same oil weapon.

 
EconMatters's picture

The Fed Can`t Raise Rates Because the Sky Is Blue





There is something seriously wrong if the Federal Reserve cannot raise the Fed Fund`s Rate a measly 100 basis points after 7 longs years of ZIRP.  Seven years is an entire business and economic cycle!

 
Tyler Durden's picture

Leon Panetta Says Brace For 30 Year War With ISIS





"I think we're looking at kind of a 30-year war... one that will have to extend beyond Islamic State to include emerging threats in Nigeria, Somalia, Yemen, Libya and elsewhere.

 
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Large Explosion At Iran Nuclear Site Kills Two Amid Speculation Of Another Israeli Sabotage





large explosion took place near a suspected nuclear site in Iran has reportedly killed two people and according to the Washington Free Beacon, prompted speculation of sabotage at a military site long suspected of housing Tehran’s clandestine nuclear activities, according to Iran’s Defense Industries Organization (DIO), which operates under the country’s Ministry of Defense. The Free Beacon, citing Fars New Agency, reports that one explosion rocked a production plant late Sunday night in east Tehran, near the Parchin nuclear site.  The explosion at a facility referred to as a “production plant” caused a fire that killed two workers, according to Fars, which cited information provided by Iran’s DIO. Fars first reported news of the explosion, claiming that it took place at an “explosive material factory” near Parchin. According to Iran opposition sources, the blast killed at least four military personnel.

 
Tyler Durden's picture

SWIFT Announces It "Regrets The Pressure" To Disconnect Russia





With ever louder chatter that the west will force Russia to exit the global currency messaging and interchange service that is SWIFT - essentially locking it out of transacting in "developed" currencies - and with correspondingly louder retorts by Russia that it is prepared and would welcome such a move as it would merely force it to abandon the petrodollar and allign even closer with China, there was one entity whose take on the matter had been largely ignnored. SWIFT itself. Surprisingly, in a press release issued this morning,the member-owned cooperative, reveals that not only has it received "calls to disconnect institutions and entire countries from its network – most recently Israel and Russia", but that it regrets "the pressure" as the "surrounding media speculation, both of which risk undermining the systemic character of the services that SWIFT provides its customers around the world."

 
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The Goldman Tapes And Why The Delusion Of Macro-Prudential Regulation Means The Next Crash Is Nigh





There is nothing like the release of secret tape recordings to clarify an inconclusive debate. Actually, what the tapes really show is that the Fed’s latest policy contraption - macro-prudential regulation through a financial stability committee - is just a useless exercise in CYA. Macro-pru is an impossible delusion that should not be taken seriously be sensible adults. It is not, as Janet Yellen insists, a supplementary tool to contain and remediate the unintended consequence - that is, excessive financial speculation - of the Fed’s primary drive to achieve full employment and fill the GDP bathtub to the very brim of its potential. Instead,  rampant speculation, excessive leverage, phony liquidity and massive financial instability are the only real result of current Fed policy.

 
Tyler Durden's picture

Germany's Largest Export: Hypocrisy?





Who is the world’s No. 3 arms exporter, after the United States and Russia? Surprise. It is Germany, a country bound by law to supply only allies and peaceable folks like (neutral) Switzerland or Sweden. Off limits are “areas of tension” — bad neighborhoods that actually need the stuff. Yet somehow, Israel and Saudi Arabia, both living in the world’s powder keg, are among Germany’s best customers. So are Algeria, Qatar and the United Arab Emirates.

 
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President Obama Explains Why He "Did Not Request Permission" To Invade Syria - Live Feed





Last night's airstrikes on ISIS in Syria came as a surprise to some (though apparently not ISIS who local reporters note had time to move weapons and personnel) as President Obama - and his local arab nation allies (acting in support), though notably no Western nations - unleashed hell on Assad's sovereign territory. The first stirrings of responses from Russia have been creeping out and now Israel is involved in the anti-ISIS coalition. The State Department has just confirmed that they did not give advance warning to the Syrian regime. If you are playing along at home, key words include "broad coalition", "Assad still a bad guy", "Vladimir who?", and "not Muslim."

 
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Israel Joins The Fighting, Shoots Down Syrian Warplane Which Acted In "Threatening Manner"





Whether as a result of recent icy to quite icy diplomatic relations between the two nations, or just because it has other motives, Israel had clearly abstained from joining the US effort to contain the CIA-created ISIS terrorist juggernaut. However, overnight, with the US finally doing what Israel has hoped it would do for so long, namely being engaged in a bombing campaign of Syria (recall that it was Israel which was one of the biggest supporters of a US-led military intervention in Syria in the summer of 2013), it decided "hell, why not" and joined the fray, when shortly before 3 am Eastern time, this hit:

  • ISRAELI SAYS IT DOWNED SYRIAN AIRCRAFT IN ISRAELI AIRSPACE
  • ISRAELI ARMY SAYS DOWNED SYRIAN AIRCRAFT WAS FIGHTER JET

Quite notable because it was the first time in three decades that Israel had downed a Syrian warplane, so Israel needed a strong pretext for such aggression. An aggression, incidentally, not against ISIS, but Assad's regime itself, which clearly is what Obama's latest operation is all about - to take down a sovereign while doing the bidding of Qatar and Saudi Arabia, just like in 2013.

 
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Futures Slide As Overnight Bad News Is Actually Bad News





European stocks, U.S. equity index futures fall after Euro area PMI for Aug. missed ests., while bond yields for German, Spanish, U.K. debt fall. Copper rises with positive Chinese PMI data, while oil gains as OPEC discusses output cut. European health care stocks among largest underperformers as U.S. plans tighter rules on tax inversion M&A.

 
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