New York State

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Frontrunning: January 26





  • Alexis Tsipras: the Syriza leader about to take charge in Greece (Guardian)
  • Tsipras to form anti-bailout Greek government after big victory (Reuters)
  • Tsipras Forges Anti-Austerity Coalition in EU Challenge (BBG)
  • East Coast braces, flights canceled as 'historic' blizzard bears down (Reuters)
  • Rebels press Ukraine offensive, Obama promises steps against Russian-backed 'aggression (Reuters)
  • Syriza Victory Brings Hope for Immigrants of EU Access (BBG)
  • For Saudis, Falling Demand for Oil Is the Biggest Concern (BBG)
  • Oil prices fall on market relief over Saudi policy (Reuters)
 
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Frontrunning: January 22





  • ECB to decide on bond-buying plan to revive euro zone (Reuters)
  • Draghi Is Pushing Boundaries of Euro Region with QE Program (BBG)
  • Investors Wonder Whether ECB Will Do Enough (WSJ)
  • Treasuries Drop With Bunds Before ECB; U.S. Futures Rise (BBG)
  • European shares hit seven-year high (Reuters)
  • At least eight civilians killed in shelling of Ukrainian trolleybus (Reuters), both sides blame each other
  • OPEC Will Blink First in Battle With Shale Drillers, Poll Shows (BBG)
  • China Injects $8 Billion Into Banking System (WSJ)
  • New York says Barclays not cooperating in 'dark pool' probe (Reuters)
 
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Frontrunning: January 14





  • U.S. Index Futures Decline on Commodities Slump, Growth Concerns (BBG)
  • Al Qaeda claims French attack, derides Paris rally (Reuters)
  • Charlie Hebdo With Muhammad Cover on Sale With Heavy Security Precautions (BBG)
  • How an Obscure Tax Loophole Brought Down Obama's Treasury Nominee  (BBG)
  • ECB’s bond plan is legal ‘in principle’ (FT)
  • Charlie Hebdo fallout: Specter of fascist past haunts European nationalism (Reuters)
  • DRW to acquire smaller rival Chopper Trading (FT)
  • Oil fall could lead to capex collapse: DoubleLine's Gundlach (Reuters)
 
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The Value Of Wealth





"We have to rethink our world just about from scratch. Or else. We’ve lived chasing the recovery carrot for years now, but the economy won’t recover; it can’t. There hasn’t been any real growth since at least the 1980s, the only thing there’s been is increasing debt levels that we mistook for growth." We need to do a lot more thinking, and take a far more critical look at ourselves, than we do at present. We’re not even playing it safe, we’re only playing it easy. And that’s just not enough.

 
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All Over America, Government Officials Are Cracking Down On Preppers





Why would the government want to punish people that are just trying to work hard, become more self-sufficient and take care of their families? If you use alternative methods to heat your home, or if you are not connected to the utility grid, or if you collect rainwater on your property, or if you believe that parents should have the ultimate say when it comes to health decisions for their children, you could become a target for overzealous government enforcers.

 
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New York Governor Cuomo Does Saudi Bidding, Bans Fracking In NY State





Having missed the entire shale boom, and with heavily-indebted shale companies now scrambling to boost liquidity or else face bankruptcy if crude prices remain at current levels, moments ago - in the latest example of blatant populist pandering -  New York Governor Andrew Cuomo said Wednesday his administration would prohibit hydraulic fracturing statewide, citing health concerns and calling the economic benefits to drilling there limited.  “I cannot support high-volume hydraulic fracturing in the great state of New York,” acting health commissioner Howard Zucker said, adding that he wouldn’t allow his own children to live near a fracking site. He said the “cumulative concerns” about fracking “give me reason to pause.”

 
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Misery Mounts As Airline Delays & Cancellations Surge On East Coast





As of 1220ET, 505 flights have been cancelled in the US today (and 1,731 additional flights are subject to delays) as airlines both pre-emptively and reactively prepare for the worst case nor'easter due to hit the East Coast any hour now. Chicago O'Hare is subject to the most flight delays, followed by New York's JFK. Newark, Laguardia, and Philadeplhia airports are seeing the most cancellations currently. "In most cases, the worst time to travel in the mid-Atlantic and New England due to the storm will be on Wednesday and Wednesday night."

 
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A Quick Look At Goldman's Takeover Of The US Judicial System: NY Fed Edition





One really just can't make this up. Perhaps the Fed inspector general, when he is done "fixing" the corruption at the NY Fed will be so kind to take a look at the Goldman takeover of the US judicial system next.

 
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New York, New Jersey Begin Mandatory Quarantines In Ebola Response





Despite the constant confirmation that New York "is prepared, and has been prepared for months" for an Ebola outbreak (that is extremely difficult to catch apparently), it appears Governor Cuomo and NJ's Christie are more concerned than they are letting on. Having earlier admitted that the CDC's screening guidelines are "insufficient" for New York regions' population density, Reuters reports that Cuomo and Christie are considering "enhanced screening" where "all healthcare workers will be mandatorily quarantined." Cue "state of emergency" proclamation and civil liberties 'interrupted'...

 
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NYC Doctor Confirmed Positive For Ebola; Contact With Girlfriend (Quarantine) & 3 Others; "Unlikely" Contagious On Subway





*PATIENT IN NYC TESTS POSITIVE FOR EBOLA, NEW YORK TIMES SAYS, EBOLA PATIENT GIRLFRIEND QUARANTINED: CNN
*TREASURIES ADVANCE, S&P 500, NASDAQ 100 FUTURES EXTEND DECLINES ON EBOLA REPORT

Cuomo: "There is no reason for New Yorkers to be alarmed..." *HAVE IDENTIFIED 4 PEOPLE IN CONTACT WITH EBOLA PATIENT, PATIENT WENT ON 3-MILE JOG, BOWLING, SUBWAY

Dr Craig Spencer, 33, who returned to the U.S. ten days ago from Guinea, was admitted to Bellevue Hospital in midtown Manhattan on Thursday and is being cared for in isolation. The doctor flew to Africa on September 18 to treat patients in Guinea with non-profit organization, Medecins San Frontieres (MSF).  On October 16, he checked in at a hotel in Brussels, Belgium, presumably on his return journey from Guinea to the U.S. 

 
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New York Department Of Health Issues Statement On Suspected Ebola Case





Statement On Suspect Ebola Case From Dr. Howard Zucker, Acting Commissioner, New York State Department of Health

 
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Public Pension Funds Face $2 Trillion Shortfall, Moodys Warns





"Despite the robust investment returns since 2004, annual growth in unfunded pension liabilities has outstripped these returns," Moody's warns in its latest report on the state of public pension systems. As Bloomberg reports, the 25 biggest systems by assets averaged a 7.45% return from 2004 to 2013, but liabilities tripled over the same period leaving them facing a $2 trillion shortfall as investment returns can’t keep up with ballooning obligations. The top 25 funds account for 40% of the entire US public pension system with Illinois, Kentucky, Connecticut, and Louisiana at the top of the 'most underfunded' list.

 
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"Million-Dollar Parking Spots" – Peak Stupidity Has Arrived In Manhattan





What will $1 million buy in New York City? A diamond-encrusted Cartier men’s watch. A small fleet of 2014 Bentley Continentals. Or maybe your very own parking spot in SoHo... "Parking is in serious demand and has proven an excellent investment with no sign of a decline."

 
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Frontrunning: August 20





  • Ferguson at Turning Point After Night of Relative Calm (BBG)
  • Gaza war rages on, Hamas says Israel tried to kill its military chief (Reuters)
  • Surge in Putin Patriotism Masks Pain of Sanctions (BBG)
  • Bank of England splits over rate hike for first time in 3 years (Reuters)
  • Putin Meeting Leaves Kiev With Tough Choices (WSJ)
  • European Gas Reverses Biggest Drop Since 2009 on Ukraine (BBG)
  • "Isolation"  Mongolia Seeks Economic Lifeline With Pivot to China, Russia (BBG)
  • Uber Picks David Plouffe to Wage Regulatory Fight (NYT)
  • China Levies Record Antitrust Fine on Japanese Firms (BBG)
 
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Absolute Bubble Insanity: For Nearly Half A Billion Dollars, Here Is The World's Most Expensive Penthouse





Forget Hong Kong, London and New York: when it comes to the pinnacle in absolute real estate insanity - perhaps in all of history - look no further than James Bond's favorite gambling mecca, Monaco. It is in this tiny Riviera principality where we find the Tour Odeon, a double-skyscraper being built by Groupe Marzocco SAM near Monaco’s Mediterranean seafront, which will contain a 3,300 square-meter (35,500 square-foot) penthouse with a water slide connecting a dance floor to a circular open-air swimming pool. The description is nice, but it is the bottom line that is mindblowing: Bloomberg reports that the apartment may sell for more than 300 million euros ($400 million) when it goes on the market next year, French magazine Challenges reported. That would make it the world’s most expensive penthouse, according to broker Knight Frank LLP.

 
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