With FIFA executive heads falling faster than Glencore stock (with Blatter and Platini most recently and today the entire Kuwait FA), it appeared we had reached some kind of peak debacle.. but no! German newspaper Der Spiegel reports that the German bidding committee created a slush fund in its effort to garner votes from Asian FIFA officials, land the rights to host the 2006 World Cup (which they did by 12 votes to 11).
- China economic growth seen slowing despite policy easing (Reuters)
- FBI, Justice Department Investigating Daily Fantasy Sports Business Model (WSJ)
- Obama to slow pace of withdrawal of U.S. troops from Afghanistan (Reuters)
- Corporate America's Epic Debt Binge Leaves $119 Billion Hangover (BBG)
- Islamic State battles insurgents as Syria army prepares assault (Reuters)
- Why Hillary Clinton Can’t Win by Going After the NRA (BBG)
"When I read that the report on the downing of the Malaysian airliner over Ukraine was being put in the hands of the Dutch, I knew that there would be no investigation and no attention to the facts. And there wasn’t."
- Democratic rivals back Clinton on emails, but little else in scrappy debate (Reuters)
- Hillary Clinton Shows Relentless Efficiency in First Democratic Debate (WSJ)
- U.S. Examines Goldman Sachs Role in 1MDB Transactions (WSJ)
- JPMorgan Says Trading Pain Isn't Over After Third-Quarter Slump (BBG)
- Islamic State battles insurgents near Aleppo as army prepares assault (Reuters)
- Oil Slide Means `Almost Everything' for Sale as Deals Accelerate (BBG)
Major Chinese telecom supplier Fu Chang Electronic Technology Co. (also known as Fosunny), shocked its 3,800 employees when instead of going public, the company announced it would be going dark instead when it issued a statement saying it was ceasing operations due to liquidity problems resulting from legal and debt issues.
As RT and others report, "a major fire broke out in a deposit in the Chinese city of Tianjin. The fire was caused by a leak of alcohol"
Greek Cash Ban Escalates: 'Permanent' Stricter "Capital Controls" On 3 Million Pensioners, Civil Servants ImposedSubmitted by Tyler Durden on 10/12/2015 08:19 -0500
In a stunning move towards the elites' endgame of 'banning cash', Greek authorities unveiled stricter capital controls for civil servants and pensioners this weekend. By drastically limiting cash withdrawals and forcing the more 'controllable' compulsory use of plastic money, Greek authorities hope to stop tax evasion through the use of 'fake cash registers'.
We have exasperated ourselves on the subject to a manipulated mass of deafened sycophants. Just because the veil is lifted doesn’t mean anyone will look. So we will leave you with strictly the facts...According to state-run Makkah Newspaper in Saudi Arabia, the wealthy Gulf-nation is threatening its citizens with the death penalty for spreading rumors about the government on social media.
Earlier today, around 10am local time, Turkey’s capital Ankara, was rocked by two blasts which according to NBC killed over 52 demonstrators, who had gathered for a peace march, as the country grapples with mounting security threats just three weeks before snap elections. The explosions also wounded more than 120 people, the Turkish Interior Ministry said. The cause of the blasts was unclear, the ministry said, adding that it had launched an investigation.
- Global stocks eye biggest rally in four years on Fed relief (Reuters)
- FOMC Minutes Sap Confidence in Fed's 2015 Rate Hike Resolve (BBG)
- Glencore to cut annual zinc production by a third (FT)
- Tea Party wave that lifted Republicans threatens to engulf them (Reuters)
- Why Kevin McCarthy Came to Quit Speaker Race (WSJ)
- A U.S. Recession Just Got a Little More Likely (BBG)
The big overnight story was certainly the BOJ's announcement at 11pm Eastern whether or not the Japanese central bank would boost QE. This is how we previewed it: "now all eyes to the BOJ when tonight around 11pm Eastern, Japan's central bank is expected do and say precisely... nothing." Sure enough, nothing is precisely what the BOJ delivered, leading to a big, if brief tumble in the USDJPY suggesting many were expecting at least a little tip from the BOJ.
The Trans-Pacific Partnership: Permanently Locking In The Obama Agenda For 40% Of The Global EconomySubmitted by Tyler Durden on 10/06/2015 17:29 -0500
We have just witnessed one of the most significant steps toward a one world economic system that we have ever seen. Negotiations for the Trans-Pacific Partnership have been completed, and if approved it will create the largest trading bloc on the planet. In this treaty, Barack Obama has thrown in all sorts of things that he never would have been able to get through Congress otherwise. And once this treaty is approved, it will be exceedingly difficult to ever make changes to it. So essentially what is happening is that the Obama agenda is being permanently locked in for 40 percent of the global economy.
Saudi Oil Minister Puts On Brave Face Amid Severe Headwinds: "Eventually, Economic Producers Will Prevail"Submitted by Tyler Durden on 10/05/2015 18:01 -0500
"The world needs a reliable, sustainable supply. Best way to do it is to make sure that demand and supply should be equal, so there will not be fluctuation of price. The biggest problem for everybody, producer and consumer today, is fluctuation — the ups and downs."
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.
"They're Hopping Mad In The US And Saudi Arabia": Russian Strikes In Syria Spark Epic Western Media Propaganda BlitzSubmitted by Tyler Durden on 10/02/2015 20:01 -0500
"They’re hopping mad in Saudi Arabia, the U.S. And Qatar because of their defeat and the victory of Russia and Syria and the unraveling of the fact that the U.S. and its allies are not serious about fighting Islamic State. Those who claim to be concerned about the Syrian people are the ones slaughtering the Syrian people through the terrorists."