Unfortunately, we are used to politicians saying whatever they think they need to say to be elected president, and falling way short of their campaign promises on the job. Even scarier would be the notion of selling America to the craftiest bidder. The election may be more than a year away, but isn’t it time to dig beneath the carefully crafted persona that is Trump and unearth the person and the full spectrum of his business dealings? To see the real Donald Trump is to plunge into all the conflicts of interest he denies, the financial tricks he dispenses, the crucial details he obfuscates, and the flimflam he offers up day in, day out.
The scandal swirling around Germany's largest listed company had its beginnings in an attempt to crack the U.S. market, the missing link in VW's global footprint. But, as Handelsblatt details, what began as expansion ended in deception (piecing together the events that led up to the scandal, based on the facts as they are currently known).
The signs of deflation are now flashing all over the globe and the possibility of an associated financial crisis is now dangerously high over the next few months. Our preferred model for how things are going to unfold follows the Ka-Poom! Theory, which states that this epic debt bubble will ultimately burst first by deflation (the "Ka!") before then exploding (the "Poom!") in hyperinflation due to additional massive money printing efforts by frightened global central bankers acting in unison. First an inwards collapse, then an outwards explosion.
Bill Richardson could teach Donald Trump something about the art of the deal. He has done a lot of them. At present Richardson sees one of his deals in jeopardy, and he was in Washington last week to raise the alarm, meeting privately with former colleagues and appearing at a press conference at the National Press Club. The deal in jeopardy involves a commitment he made, when he was secretary of Energy in the Clinton administration, with the Russians to dispose of weapons-grade plutonium, the long-lived ingredient in nuclear weapons.
Arctic Drilling in the U.S. is dead. After more than eight years of planning and drilling, costing more than $7 billion, Royal Dutch Shell announced that it is shutting down its plans to drill for oil in the Arctic. The bombshell announcement dooms any chance of offshore oil development in the U.S. Arctic for years.
- Commodities in crisis as Asian shares tumble and shipper files for bankruptcy (Reuters)
- Global Rout Eases as S&P 500 Futures Advance With Oil, Glencore (BBG)
- Chinese Stocks Decline Most in a Month in Hong Kong on Economy (BBG)
- India cuts interest rates by more than expected (BBC)
- Glencore Rebounds as $50 Billion Plunge Is Seen as Excessive (BBG)
- How Congress May Have Saved Goldman Sachs From Itself (BBG)
We are a scant 40 years away from the futuristic world that science fiction author Philip K. Dick envisioned for Minority Report in which the government is all-seeing, all-knowing and all-powerful, and if you dare to step out of line, dark-clad police SWAT teams will crack a few skulls to bring the populace under control. Increasingly, the world around us resembles Dick’s dystopian police state in which the police combine widespread surveillance, behavior prediction technologies, data mining and precognitive technology to capture would-be criminals before they can do any damage. In other words, the government’s goal is to prevent crimes before they happen: precrime.
Fed credibility questioned and Yellen sick - Palladium surges 8% - Russia and central banks buy gold - Smart money rebalancing and selling overvalued assets to buy depressed assets especially silver
Francis will be the first pope ever to address Congress, and as NY Times reports, a milestone in the journey of the Catholic Church in the United States. Mr. Boehner, a proud Catholic, has invited three popes over 20 years to come to Capitol Hill, with this being his first success. The papal address to the Republican-controlled Congress may make some squirm as Francis isn’t shy about tackling controversial topics or upending conventional orthodoxies about Catholics and politics — a prospect that makes U.S. conservatives especially nervous, given Francis’ insistence on raising concerns about issues such as economic justice, climate change and immigration.
US Futures Surge Nearly 30 Points To Overnight Highs After Tumbling On Worst Chinese Data In 6 YearsSubmitted by Tyler Durden on 09/23/2015 05:55 -0500
In many ways, the overnight market has so far been a reversal of yesterday, when a stable Asia session (with China stocks rising) gave way to a European tumble which in turn dragged the US lower.
- Pressure builds on Volkswagen CEO as emissions-cheating probe spreads (Reuters)
- Volkswagen Emissions Scandal Relates to 11 Million Cars (WSJ)
- Volkswagen Emissions Investigations Should Widen to Entire Auto Industry, Officials Say (WSJ)
- Germany's Bosch makes VW's U.S. diesel components (Reuters)
- Volkswagen scandal will have personnel consequences - state economy minister (Reuters)
- Glencore Falls to Record as Mining Shares Lead Stock Losses (BBG)
- Despite Slump, China’s Xi Jinping Pledges Economic Reforms (WSJ)
News That Matters
A problem can turn into an opportunity if tackled with a clear mind and a kind heart; seldom can it be solved with fear; and never, ever with hate.
Non-bombasitc overview of the investment climate. No, the sky is not falling. This is not the end of days.
Will The Lone Star State Secede? Super Tuesday May Allow Voters To "Reassert Texas As Independent Nation"Submitted by Tyler Durden on 09/17/2015 21:30 -0500
“Most Texans do not want to break away from the United States. Most Texans consider themselves Americans. But if ever being American means sacrificing our liberties, we will just prefer to be Texans.”