An in-depth discussion
When considered carefully, apathy - American apathy - is a serious crime. A crime against world humanity. The checks and balances by humans on Empire are permissively missing in empirical America. Americans are thus complicit in the further daily destruction of the remaining world they wish to know little about. When the dust of the oncoming rampage of history has settled over the folly of this American empire, guilt for its accumulated horrors will sit squarely on the American people’s heads, as much as the shoulders of their obviously treasonous politicians.
All is not well in the non-GAAP paradise known as Tesla's Gigafactory, where labor tensions are suddenly running high.
Attempts to control economic growth through government spending and/or manipulating interest rates (e.g., stimulate growth with low rates) generally leads to more severe crises. None of these things are recent phenomena, but can be found again and again throughout American history. Today, there is no party that favors true privatization or free markets. The solution, however, is simply to take as much power as possible out of the control of corruptible politicians and their special interest supporters.
Today, another country exposed just how troubled its energy sector has become when Mexico's largest, state-owned company, Petroleos Mexicanos also known as Pemex, announced not only its 13th consecutive quarterly loss amounting to $9.3 billion, 44% bigger than the previous year, as revenue tumbled by 28% to $15.8 billion, but also a gargantuan $32 billion annual loss and at the same time announced it would slash capex spending to preserve cash and optionality for a future which suddenly looks very bleak.
— Donald J. Trump (@realDonaldTrump) February 28, 2016
"There’s A Feeling Of Bits Of Ice Cracking All At Once" - This Is The 'Big New Threat' To Oil PricesSubmitted by Tyler Durden on 02/27/2016 00:18 -0400
"There’s a feeling of various bits of ice cracking all at once" in the oil market, with both crude-oil and gasoline inventories at extremely high levels. People are worried about a short-term issue, particularly in the U.S., particularly at Cushing."
When a leading nominee for President gets something exactly right, we should applaud them for it. In this case, Donald Trump’s call to audit the Federal Reserve is dead on correct. Most Americans don’t realize this, but the Federal Reserve has far more power over the economy than anyone else does – including Barack Obama. The funny thing is that the Federal Reserve is not even part of the federal government. It is an independent private central bank that was designed by very powerful Wall Street interests a little over 100 years ago. It is at the heart of the debt-based financial system which is eating away at America like cancer, and it has no direct accountability to the American people whatsoever.
America is saying, “Goodbye to all that.” For Trump is not only a candidate. He is a messenger from Middle America. And the message he is delivering to the establishment is: We want an end to your policies and we want an end to you. If the elites think they can not only deny Trump the nomination, but turn back this revolution and re-establish themselves in the esteem of the people, they delude themselves. This is hubris of a high order.
Some folks have been spying again... but we are sure President Obama "was not aware" of any of it...
From abysmal PMI data to slumping freight volumes to collapsing Class 8 truck orders, the writing is on the wall: the US is headed for a recession. And while we would argue that if it weren't for goalseeked data, the numbers would already show that the entire economy is contracting, at least four states are already in an official downturn.
Many commentators have mentioned that Hillary Clinton left behind no major achievement as the U.S. Secretary of State; but, actually, she did. Unfortunately, all of her major achievements were bad, and some were catastrophic. Six countries were especially involved: Honduras, Haiti, Afghanistan, Libya, Syria, and Ukraine. The harm she did to each country was not in the interest of the American people, and it was disastrous for the residents there. Hillary Clinton at every campaign debate says “I have a better track-record,” and that she’s “a progressive who gets things done.” Here’s what she has actually done when she was Secretary of State...
Looking at today's DOE breakdown, while PADD 2 saw inventories rise by 2.25 million, the Midwest storage hub at Cushing was up only 36,000 - a divergence which confirms that Cushing is now routinely denying storage requests.
Since the January FOMC statement, Janet has spoken twice and what seems like every Fed speaker has hit the headlines to explain their decisions (only to confuse the market more) leaving bonds and gold outperforming amid their clear confusion. The Minutes appear to confirm that confusion:
- *FOMC MEMBERS AGREED DATA TOO UNCLEAR TO GAUGE RISKS TO OUTLOOK (confused)
- *FED OFFICIALS CONTINUED TO EXPECT GRADUAL POLICY TIGHTENING (hawkish)
- *MANY FED OFFICIALS AT JAN. FOMC SAW INCREASED DOWNSIDE RISKS (dovish)
So The Fed was unanimous in its decision to leave rates unchanged, downgraded the economic outlook, and was fearful of the global financial volatility - which in the last 3 days has all been solved.
“I hope he drops an F-bomb"...