Norway

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Russia Slams Extension Of European Sanctions; Pentagon Warns Of "Nuclear Saber-Rattling"





Over the past several months, tensions between Russia and the West have escalated meaningfully. While it’s certainly true that, since Crimea, US-Russia relations have deteriorated steadily (baskets of potatoes notwithstanding), recent events suggests the situation may come to a head more quickly than either side cares to admit. In the latest provocation, Europe has extended economic sanctions against Moscow for another six months or, until the Kremlin agrees to abide by the terms of the Minsk agreement which Europe, on the word of Kiev, assumes Moscow is violating. Meanwhile, US Secretary of Defense Ash Carter blasts Russian "nuclear saber rattling."

 
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Place To Go When War Starts





Nobody can deny that the chances of war are increasing in the world.

 
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Low Oil Prices Prompt Statoil To Cut Even More Jobs





Once more Statoil is reducing its richest asset – employees – in order to keep financial losses to a minimum because of low oil prices. It will eliminate up to 1,500 more full-time jobs and 500 temporary consultant positions by the end of 2016.

 
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"Calm Reigns" Everywhere As Greece Inches Closer To Default, China Crashes





European shares remain higher, close to intraday highs, with the autos and travel & leisure sectors outperforming and basic resources, utilities underperforming. Meeting of finance officials to reach a deal over Greek aid ended in frustration, forcing leaders to call for an emergency summit for Monday. ECB plans to hold an emergency session of its Governing Council on Friday to discuss a deterioration in liquidity at Greek banks, three people familiar said. German airwave auction raises $5.7b to top 2010 sale. Bank of Japan leaves monetary policy unchanged as forecast. Shanghai Composite Index capped its worst weekly decline in seven years.

 
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Dollar Tumbles After Fed Whiffs Again; More Cracks Appear In Chinese Stock Bubble





All those saying the Fed will never be able to raise rate are looking particularly smug this morning, because if the market needed a green light that despite all the constant posturing, pomp and rhetoric, the US economy is simply (never) ready for a rate hike, it got it late last night when Goldman is pushing back its forecast for the first Fed rate hike from  September to December 2015 saying that "in large part this reflects the fact that seven FOMC participants are now projecting zero or one rate hike this year, a group that we believe includes Fed Chair Janet Yellen. We had viewed a clear signal for a September hike at the June meeting as close to a necessary condition for the FOMC to actually hike in September, but the committee did not lay that groundwork today."

 
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The "Global Macro Investor" - An Interview With Raoul Pal





"We have a problem with this, and that is central bank hubris. They now think that they are omnipotent, because, essentially the government has said we are going to pass over all control of the economy to the central banks, they say to everybody else including financial market participants that “you don’t know, you don’t understand, we have our models and they are right”. And that kind of hubristic approach is when you sow the seeds of your own destruction."

 
Tyler Durden's picture

Investing In Gold (Because Central Bankers Will Never Get Religion)





Gold bugs weren’t wrong - just super early. If central banks ever got religion and pulled a Volcker and hiked rates to the moon, it would be a remarkably bad time to hold gold. However, throughout history, there have been times where people were very sad that they didn’t own gold. We talk about one of them here. It’s very real, and the history of fiat currencies is also quite sad.

 
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Meet The Participants Of This Year's Bilderberg Conference





From Greek lobbyists to Silicon Valley VCs and from Goldman BSDs to FT reporters, The Bilderberg Group will meet later this week in Tirol to discuss what happens next to the rest of the world... here are the participants...

 
Tyler Durden's picture

Forget the TPP: Wikileaks Releases Documents From The Equally Shady “Trade in Services Agreement"





If you think the corporate-fascist state is overbearing and oppressive now, you ain’t seen nothing yet.

 
Tyler Durden's picture

Key Events In The Coming "Most Impotant Jobs Report Ever" Week





June is off with a bang, and a very busy week in the macro economic calendar, both globally and in the US, which culminates with the latest "most important ever" payrolls report, one which will surely be closely watched by a Fed which may hike as soon as a few weeks from now (but probably won't).

 
Tyler Durden's picture

Game Theory Pioneer John Nash, Wife, Killed In Taxi Crash





The world lost one of its truly beautiful minds this Saturday, when a taxi carrying John Nash, 86, and his wife of nearly 60 years, Alicia, crashed on the New Jersey Turnpike. The two were killed on the spot when the driver of the Ford Crown Victoria lost control as he tried to pass a Chrysler in the center lane, crashing into a guard rail according to NJ.com.John Forbes Nash, Jr, was best known recently for the 2001 movie starting Russell Crowe"A Beautiful Mind" which depicted his struggles with schizophrenia. His biggest accomplishment was his groundbreaking and pioneering work on game theory. His thesis contained the definition and properties of what is now known as the "Nash equilibrium" - a crucial concept in non-cooperative games, it won Nash the Nobel Memorial Prize in Economic Sciences in 1994.
 
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"New Silk Road" Part 1: Changing Global Economics Forever





China is building the world’s greatest economic development and construction project ever undertaken: The New Silk Road. The project aims at no less than a revolutionary change in the economic map of the world. It is also seen by many as the first shot in a battle between east and west for dominance in Eurasia. For the world at large, its decisions about the Road are nothing less than momentous. The massive project holds the potential for a new renaissance in commerce, industry, discovery, thought, invention, and culture that could well rival the original Silk Road. It is also becoming clearer by the day that geopolitical conflicts over the project could lead to a new cold war between East and West for dominance in Eurasia.

 
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