Mexico

Tyler Durden's picture

Martin Armstrong Warns "The Cycle Of War Turns Up Next Week"





Caution should be advised next week.

 
Tyler Durden's picture

Oil Plunges As Saudis Dismiss Price War "No Basis In Reality"





WTI Crude oil prices tumbled to a $75 handle this morning as Saudi oil minister al-Naimi dismissed claims of a price-war as having "no basis in reality" noting that "Saudi oil policy has remained constant for the past few decades and it has not change today," suggesting expectations of a supply cut at the looming OPEC meetings are overdone. This comment comes after Qatar said it "may" cut output by 500k barrels/day.

 
Tyler Durden's picture

Venezuelan Bonds Are Collapsing, FinMin Denies Devaluation Looming





While talking heads proclaim - incorrectly - that low oil prices are unequivocally good for the US economy, it is very much not the case for oil producers around the world. Most notably, Venezuela - which 'needs' oil prices above $100 to maintain its socialist utopia - and currently ranks at a lowly 100th on the world's prosperity index, is in grave trouble if this trend continues. Venezuelan bonds plunged to new record lows today as oil prices hit fresh cycle lows, strongly suggesting default or currency devaluation is imminent. However, as is usual (think Mexico) Finance Minister Rodolfo Marco Torres ruled out devaluation even as oil price drop exacerbates country’s finances. As one analyst noted, "there's broad understanding that in the absence of any corrective policy measures that these guys are going to be in serious trouble." It appears they already are. The Maduro government desperately needs a rise in oil prices, but Saudi Arabia has so far rebuffed calls for an emergency meeting as it pursues a strategy of waiting out higher cost competitors. OPEC does not plan on meeting until Nov. 27. That is still an eternity for a country that is beginning to unravel.

 
Tyler Durden's picture

Russia To Dispatch Long-Range Bomber Patrols Over Gulf Of Mexico, Caribbean





While the west is seemingly eager to once again restart the military escalation, if only in rhetoric for now, surrounding the east-Ukraine conflict, leading to a report that the "European Union and the U.S. will weigh further sanctions against Russia’s economy and Ukrainian separatists, after the reported movement of tanks, artillery and combat troops into eastern Ukraine", Russia has chosen to change track completely and give the US a dose of its own cooking, by bringing the military threat next to the borders of the US itself.  "In this situation, we have to maintain a military presence in the western part of the Atlantic and the eastern part of the Arctic Ocean, in the Caribbean and in the Gulf of Mexico"  Russian Defense Minister Shoigu said.

 
Tyler Durden's picture

Wal-Mart Reveals Masterclass On How To "Beat" EPS With Tax Rate Fudges And Buybacks





Wal-Mart's Q3 earnings, reported minutes ago, were a masterclass in bottom-line fudgery.

 
Tyler Durden's picture

Frontrunning: November 12





  • Banks to Pay $3.3 Billion in FX-Manipulation Probe (BBG)
  • Symbolic being the key word: U.S., China sign symbolic emissions plan, play down rivalry (Reuters)
  • Europe (so really Russian sanctions) is the new "snow in the winter" - Carney Sees Europe Stagnation Impact as Growth Outlook Cut (BBG)
  • Eurozone Industrial Output Points to Weak Third Quarter Growth (WSJ)
  • Not everyone around Abe is insane: Kuroda Ally Flags Warning on Delaying Sales-Tax Increase (BBG)
  • Hong Kong to scrap daily yuan conversion limit to boost stock investment (Reuters)
  • Barclays Falls After FX Settlement Delay Reduces Discount (BBG)
  • Some unhappy Yahoo investors asking AOL for rescue (Reuters)
 
Tyler Durden's picture

And Then There’s The Things You Couldn’t Even Make Up





There are things in this world which simply look plain stupid, and then there are those that at closer examination prove to be way beyond stupid...

 
Tyler Durden's picture

Natives Getting Restless: Protesters Set Fire To Door Of Mexican President's Ceremonial Palace





Following the massacre of 43 students who were allegedly abducted by corrupt police in southwestern Mexico in September, violent anti-establishment protests have broken out across the nation. As Reuters reports, demonstrators set fire to the door of Mexican President Enrique Pena Nieto's ceremonial palace in Mexico City as the Mexican people are angered at Nieto's visit to China (at a time when he should, in their eyes, be focused on domestic issues). The violence has been condemned, "You can't demand justice while acting with violence," said Nieto but it seems the people's restlessness is growing - not helped by the cancellation of a high-speed rail contract last week as opposition lawmakers accused the government of rigging the bidding.

 
Tyler Durden's picture

Oil Price Slide – No Good Way Out





We often hear that if there is not enough oil at a given price, the situation will lead to substitution or to demand destruction. Because of the networked nature of the economy, this demand destruction comes about in a different way than most economists expect–it comes from fewer people having jobs with good wages. With lower wages, it also comes from less debt being available. We end up with a disparity between what consumers can afford to pay for oil, and the amount that it costs to extract the oil. This is the problem we are facing today, and it is a very difficult issue.

 
Tyler Durden's picture

A "Magical Fairyland" – How Global Multi-National Corporations Avoid Taxes In Luxembourg





“A Luxembourg structure is a way of stripping income from whatever country it comes from,’’ said Stephen E. Shay, a professor of international taxation at Harvard Law School and a former tax official in the U.S. Treasury Department. The Grand Duchy, he said, “combines enormous flexibility to set up tax reduction schemes, along with binding tax rulings that are unique. It’s like a magical fairyland.”

 
Tyler Durden's picture

Frontrunning: November 4





  • Republicans expect gains, but many races close on election day (Reuters)
  • Ahead of tough election, White House blames dismay with Washington (Reuters)
  • On Election Day, a Tale of the Young and the Old (WSJ)
  • Because the recovery: Sprint to Cut 2,000 Jobs as Mobile Customers Keep Leaving (BBG)
  • Ukraine's rebel leader is sworn in, crisis deepens (Reuters)
  • Brilliant: Burkina Faso Army Promises Religious Leaders It Will Step Down (BBG)
  • More Unknowns Leave Central Banks Facing Greater Internal Strife (BBG)
  • Scapegoat found: IBM to Change Leadership at Global Services Unit (WSJ)
  • Explains why Europe just slashed its GDP forecast: Don’t Be Fooled by Warm Spell as Cold Air About to Return (BBG)
 
Tyler Durden's picture

How The Petrodollar Quietly Died, And Nobody Noticed





The Petrodollar, long serving as the US leverage to encourage and facilitate USD recycling, and a steady reinvestment in US-denominated assets by the Oil exporting nations, and thus a means to steadily increase the nominal price of all USD-priced assets, just drove itself into irrelevance. A consequence of this year's dramatic drop in oil prices, the shift is likely to cause global market liquidity to fall.  This decline follows years of windfalls for oil exporters such as Russia, Angola, Saudi Arabia and Nigeria. Much of that money found its way into financial markets, helping to boost asset prices and keep the cost of borrowing down, through so-called petrodollar recycling. But no more: "this year the oil producers will effectively import capital amounting to $7.6 billion.

 
Tyler Durden's picture

Frontrunning: October 31





  • Futures rally after BOJ ramps up stimulus (Reuters), Japan's central bank shocks markets with more easing as inflation slows (Reuters)
  • Kuroda Jolts Markets With Assault on Deflation Mindset (BBG)
  • Japan Mega-Pension Shifts to Stocks (WSJ)
  • Russia Raises Interest Rates (WSJ)
  • Oil-Price Drop Has Saudi Officials Divided (WSJ)
  • Not anymore, the BOJ is here: Fed Exit Could Spark Slump in All Markets, ATP CEO Says (BBG)
  • Wal-Mart Weighs Matching Online Prices from Amazon (WSJ)
  • Euro-Area Inflation Picks Up From Five-Year Low on Stimulus (BBG)
  • Big Banks Brace for Penalties in Probes  (WSJ)
  • Ex-UBS Trader Defense Could Be Threat to U.S. Forex Cases (BBG)
 
Tyler Durden's picture

Oil Residue The Size Of Rhode Island Covers Gulf Of Mexico Seafloor In Macondo Well Disaster Aftermath





Ever since the April 2010 disaster on the BP-operated Macondo well in the Gulf of Mexico, there was one big outstanding question: where did the bulk of the oil gol? Now, thanks to a research team led by David Valentine, a microbial geochemist at the University of California, Santa Barbara, sampled more than 534 locations near the spill site, gathering more than 3,000 individual samples, we know the answer: the oil spill - some 10 million gallons of coagulated oil - left an oily "bathub ring" on the sea floor of the Gulf of Mexico, about 25 miles from the well, that's about the size of Rhode Island.

 
Syndicate content
Do NOT follow this link or you will be banned from the site!