Today's early close across markets likely means that the blow-off top multiple-expansion mania phase (because forward EPS estimates over the past couple - that means 2 to Janet Yellen fanatics - weeks have in fact declined) of 2014 may be coming to an end. However with already abysmal volumes literally grinding to an early halt at 1:15 pm Eastern today, and with a market as boring as this one, where any news is immediately interpreted as good, not matter how bad it actually is or how "revised" or "goal-seeked", we may see futures, which already are trading some 4 points above fair value, successfully levitate by another 20 points and hit Goldman's 2100 year end target - year-end for 2015 that is - one year ahead of time.
Since the ultimate goal of the ongoing hacking scare tactic appears to be the implementation of an Internet "Kill switch" which would likely be achieved by a controlled take down of the energy grid to demonstrate just how scary "hackers" may be, here comes the "other" Korea with an appetizer of what is to come to the US on short notice. According to RT, a South Korean nuclear plant operator’ computer system was hacked. The perpetrator has leaked blueprints and manuals, says if his demands for three reactors’ closure aren’t met, those living near the facilities should “stay away” from home.
Despite the authorities' best efforts to keep everything orderly, we know how this global Game of Geopolitical Tetris ends: "Players lose a typical game of Tetris when they can no longer keep up with the increasing speed, and the Tetriminos stack up to the top of the playing field. This is commonly referred to as topping out."
"I’m tired of being outraged!"
Defiant North Korea Says Can Prove It Is Not Behind Hack "Without Resorting To Torture Like The CIA"Submitted by Tyler Durden on 12/20/2014 11:01 -0500
Surely, the punchline is that even a tiny backwater, dictatorship can now make fun of US "moral high ground" courtesy of the recent CIA torture disclosure. “We have a way to prove that we have nothing to do with the case without resorting to torture, as what the C.I.A. does,” the North Korea statement said. Oops.
The current illusion of recovery is a result mainly of windfalls to the financial asset owning upper strata, the explosion of transfer payments funded with borrowed public money and another supply-side bubble - this time in the energy sector and its suppliers and infrastructure. But that’s not real growth or wealth. Indeed, the desultory truth about the latter is better revealed by the fact that the American economy is not even maintaining its 20th century level of breadwinner jobs. And the real state of affairs is further testified to by the lamentable trend in real median household incomes. That figure - not distorted by the bubble at the top of the income ladder - is still lower than it was two decades ago. So much for the Keynesian rap. Yet that’s about all that underpins the latest Wall Street rip.
"As a result of our investigation, and in close collaboration with other U.S. Government departments and agencies, the FBI now has enough information to conclude that the North Korean government is responsible for these actions. While the need to protect sensitive sources and methods precludes us from sharing all of this information, our conclusion is based, in part, on the following... the FBI will identify, pursue, and impose costs and consequences on individuals, groups, or nation states who use cyber means to threaten the United States or U.S. interests."
Obama KNEW Drone Strikes Were Counter-Productive, But Did It ANYWAY
Some scary shite...
Absent YouTube clips of young North Korean hackers actually attacking Sony, the Obama administration appears to have made up its unequivocal mind that they are responsible... (even as they say the Sony hack origin is still under investigation) and now...
*SONY HACK BEING TREATED AS NATIONAL SECURITY MATTER: EARNEST
*EARNEST SAYS SONY HACKING MERITS 'APPROPRIATE RESPONSE'
The White House spokesman added that daily meetings are being held on the attack. We wonder just how soon it will be before the Nobel Peace Prize winner decides it's time to take 'action'.
President Obama "Normalizes" Relations With Cuba, Opens Diplomatic Channels; USAID Chief Resigns - Live FeedSubmitted by Tyler Durden on 12/17/2014 11:50 -0500
“It is clear that decades of U.S. isolation of Cuba have failed to accomplish our enduring objective of promoting the emergence of a democratic, prosperous, and stable Cuba,” White House says in statement. So sanctions don't work?
Rajiv Shah, the administrator for the U.S. Agency for International Development, oversaw secret US programs aimed at regime change in Cuba, abruptly resigned on Wednesday after US and Cuba announced plans to normalize relations and exchange prisoners.
Those who voted for the omnibus to avoid a shutdown fail to grasp that the consequences of blindly expanding government are far worse than the consequences of a temporary government shutdown. A short or even long-term government shutdown is a small price to pay to avoid an economic calamity caused by Congress’ failure to reduce spending and debt.
Sydney Hostage Standoff Update: 5 Escape, Gunman Identified; Demands Islamic State Flag, Conversation With Prime MinisterSubmitted by Tyler Durden on 12/15/2014 07:27 -0500
The Sydney hostage standoff at the Lindt chocolate store on Martin Place continues well into its 13th hour, where the latest news is that five people have escaped with others still held inside as neighboring blocks remain locked down, authorities said ABC reports. The first three people who fled sprinted out of the Lindt Chocolat Cafe about six hours into the standoff, while two women wearing aprons frantically ran from a side exit and into the arms of heavily-armed SWAT team police officers waiting outside. At the same time, media personalities said they received calls from hostages during the standoff. It remains unclear exactly how many people remain inside the cafe.
The Japanese economy may well be getting crushed under the weight of Abenomics (courtesy of an unprecedented in history quadruple-dip recession and a record number of Japanese corporate bankruptcies due to the plunging Yen), but as we wrote previously, Abe has effectively hijacked the nation to his (and Paul Krugman's) stock-market levitating policies and has given Japan a simple choice: either you let us see this disastrous experiment in trickle-down monetarism to its tragic end, or all your pensions are toast. Not much of a choice for a population which has more retirees than any developed nation. And it's not like Japan has much a chance anyway. Which is why the outcome of tomorrow's vote for Abenomics is completely irrelevant, and which the local press says will "unquestionably" be won by Abe in an absolute majority.
HELLO ... MAINSTREAM MEDIA ... ANYONE HOME?
Police misconduct has a cumulative effect on a culture. We do not forget all of the oversteps of the past; we merely file them away until we finally reach a breaking point. It is important for LEOs to understand that while they may have a relative immunity to legal reparations, they are not immune to the rage of the populace and will likely find their fragile warrior personas rather inadequate when that day arrives. For the true constitutional police out there, it is time to take sides, either with good American people or with the corrupt establishment. It is impossible to serve both. The illusion of the “thin blue line” is quickly fading. The only question now is: What is going to replace it? The establishment would have you believe there are only two options: total chaos or martial law. But there has always been a third alternative they seek to suppress: the return of community defense, the resurgence of localized responsibility and the victory of personal liberty over false security.