Heavy-duty truck order numbers just hit a 4-year low in June, with depressed demand in 2016 suggesting that something is very wrong with the "recovery" narrative, and certainly hints that when it comes to transportation, trade and logistics things are rapidly disintegrating.
In an episode painfully reminiscent of the Bear hedge fund "freezes" that preceded the bank's 2008 collapse and the great financial crisis, first Standard Life halted trading in its property fund, followed hours later by both Aviva and M&G which likewise announced they are suspending trading in their own portfolio funds. And, as Bloomberg summarizes, three of the U.K.’s largest real estate funds have frozen almost 9.1 billion pounds of assets after Britain’s shock vote to leave the European Union sparked a flurry of redemptions.
It's time for those of us who have been reluctant to consider the possibility that our own government could actually be complicit in domestic terrorism in order to further a nefarious agenda to at least stop accepting the government and media’s version of these tragedies at face value. For the most part, the mainstream media is little more than a propaganda ministry for the federal government.
Robert Murray, the controlling owner of Murray Energy - America's largest private coal miner - said the potential layoffs were "due to the ongoing destruction of the United States coal industry by President Barack Obama," adding that electing "friends of coal" like Mr. Trump were the only hope the industry has.
The SWIFT rebuild will likely require the insights of an outlet such as Hyper Ledger, run by longtime Zero Hedge CDS and commodity trading icorn, Blythe Masters. Hyper Ledger works with a consortium of organizations and corporations tasked with developing systems to offer protection for messages sent between the worlds central banks, which will be based on blockchain technology. A rebuild opens new concerns about the current integrity of the SWIFT platform and what problems may be lurking within it that we have yet to discover.
Following ongoing warnings of the dismal reality surrounding heavy, Class 8 trucking, reality finally hit overnight when trucking and logistics company Werner Enterprises warned that a sluggish freight market and increases to driver pay would hurt its second-quarter earnings, leading to a plunge in its stock price. Werner said it now expects to report a profit of 21 cents to 25 cents a share, which includes a pretax gain of $3.4 million from the sale of real estate; this was nealy 50% below the consensus forecast of 40 cents a share.
It turns out that hackers don't need to break into SWIFT transactions at big banks or even the Federal Reserve in order to get funds wired to their accounts. Cyber criminals just need to create fake email accounts and send an email to the right employee at a business and accomplish the same result with a lot less effort.
"As for our own positions in our retirement fund, for the year-to-date we are +3.3% and are thus beating the year-to- date returns of both our International Index and of the S&P. We are marginally net long as of last night’s close although we became marginally net less so early in the session as we added a bit to our short derivatives position."
Last month we reported that citizens in Venezuela had finally become so desperate for food that angry mobs flooded the streets and looted all of the supermarkets that were rumored to still have anything left on their shelves. And now, as president Maduro remains defiant on allowing a referendum to take place to vote on his ouster, food riots and violent looting are taking place every day in a stark reminder of just how far the socialist utopia has fallen.
There is another cycle here that is much more influential on the current market dynamic and should be much easier to spot.When the Fed talks up the economy and promises rate increases, the dollar usually rallies. When the dollar rallies, U.S. multi-national corporate profits take a hit, and the market falls. When the market falls, economic confidence falls and puts pressure on the Fed to maintain easy policy.This is a loop that the Fed does not have the stomach to break.
The electorate of the industrial democracies broadly seem to accept the role of the State in every aspect of their lives, education, health & pensions being prime examples. This is largely unchallenged by modern press, media and politicians. No matter how great the failure in any aspect of our lives by the State criticism will usually focus on how it failed, rarely if ever will the vital question be asked "is this the role of the State?"