• bugs_
    04/01/2015 - 08:45
    Domestic energy production continues to increase despite the anticipated shale shakeout.  The precipitous decline in gasoline prices were welcomed by most but government exise tax revenue was in...

Turkey

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Marxist Group Takes Turkish Prosecutor Hostage, Posts Pictures





In the midst of a near-nationwide blackout that grounded planes and froze rail traffic and which officials say could be terror-linked, armed gunman have taken a prosecutor hostage in an Istanbul court house.

 
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Massive Blackout Hits Turkey, Grounding Planes, Stopping Subways; Terror Not Ruled Out





Turkey suffered a massive power outage that left half of the country’s 81 provinces without electricity, in what was the largest blackout in a decade and a half. Possible causes include a cyber attack and/or cats...

 
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According To The TSA, You May Be A Terrorist If...





The TSA has issued a set of guidelines that, if interpreted correctly, will assist in the identification of terrorists. Do you fit the description?

 
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De-Dollarization Continues As Russia Seeks AIIB Membership





As Moscow and Seoul throw their support behind China's Asian Infrastructure Investment Bank, the question is no longer about the end of dollar hegemony but rather about the extent to which the new venture will be used to institute a global shift towards the yuan. 

 
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Turkey Devolves Into A Full Police State: Law Grants Unlimited Powers To Weaponized Police Force





While a source of much schadenfreude by its neighbors and casual onlookers, Turkey has become a glaring example of what happens to a formerly respectable nation as it devolves entirely into a banana republic with not only authoritarian overtones but a police state to boot. And earlier today, Turkey's conversion to a full blown police state was complete when, after weeks of heated debates and brawls in parliament, Turkey’s government passed a security package expanding police powers, along with an online surveillance law and a discretionary fund for President Recep Tayyip Erdogan to fund covert operations. 

 
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Beyond Iran And Pakistan: 7 Nuclear Wannabes





While fear still lingers of a nuclear catastrophe on a similar scale as Fukushima, or earlier accidents such as Three Mile Island or Chernobyl, that hasn’t stopped a slew of countries from moving forward on plans to develop nuclear plants as an adjunct to existing power sources like hydro, coal, natural gas and good ol’ oil. Especially in developing countries that lack access to fossil fuels, nuclear is seen as a viable and cost-effective form of baseload power.

 
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Buying Euphoria Fizzles Ahead Of Make Or Break Tsipras-Merkel Talks





As previously observed (skeptically), a main reason for the surge in the DAX, and thus the S&P, on Friday was premature hope that the Greek talks earlier were a long-overdue precursor to a Greek resolution, and as we further noted yesterday, subsequent bickering and lack of any clarity as we go into today's critical "final ultimatum" meeting between Merkel and Tsipras, is also why the Dax was lower by 1.1% at last check, even if the EURUSD continues to trade like an illiquid, B-grade currency pair whose only HFT purpose is to slam all stops within 100 pips of whatever the current price may be.

 
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"Disturbed" US Will Hold Syria Accountable For Chemical Weapons Attack, Kerry Says





John Kerry speaks out about allegations of new chemical weapons attacks in Syria and says the US may have to hold someone (Assad) "accountable."

 
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US Air Force Veteran Indicted For Searching The Web and Traveling To Turkey With iPod





As the Dept. Of Justice reports, a joint effort by the FBI and several New Jersey police departments has culminated in the indictment of US Air Force veteran Tairod Nathan Webster Pugh who “allegedly” pulled the terrorist trifecta by first accessing the internet and then traveling from Egypt to Turkey with an iPod and a picture of a machine gun.

 
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Sweden Slides Further Into NIRP: Cuts To -0.25%; Expands QE





Ahead of The Fed's 'impatience' today, and amid a tumbling EUR, the oldest central bank in the world has decided it is time to go further into the illustrious ranks of NIRP/QE'ers:

*RIKSBANK CUTS KEY RATE TO -0.25%, TO BUY GOVT BONDS FOR SK30 BLN

So as opposed to Denamrk's roundabout QE, Sweden just jumps in and monetizes that debt direct by expanding their QE program and shifts from small NIRP to bigger NIRP. All this while suggesting the labor market is strengthening and inflation has bottomed out. The reaction - SEK is plunging and OMX surges.

 
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The Week The Fed Loses "Patience" - Previewing This Week's Main Events





This week's main event will be the FOMC announcement on Wednesday at 2:00 pm and the subsequent press conference, the conclusion of the March 2-day Fed meeting, in which it is widely expected that Yellen will announce the end of the Fed's "Patience" with an economy in which resurgent waiters and bartenders continue to skew the job market even if it means consistently declining wages for 80% of the US labor force. Here is a summary of what else to expect this week.

 
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Why The Dollar Is Rising As The Global Monetary Bubble Craters





The inevitable death of the dollar may have been delayed. The reason is simply that the other three big economies of the world - Japan, China and Europe - are in even more disastrous condition. Worse still, their governments and central banks are actually more clueless than Washington, and are conducting policies that are flat out lunatic - meaning that their faltering economies will be facing even more destructive punishment from policy makers in the days ahead. The current malignant monetary regime does not merely imply that the Wall Street casino is a dangerous place for your money. No, it screams get out of harms’ way. Now!

 
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Russia Cuts Interest Rate From 15% To 14%, Ruble Rises





Following the dramatic December surge in Russian interest rates when the Bank of Russia scrambled to preserve confidence in the then-plummeting currency and sent the interest rate to a whopping 17%, now that the oil price crash has stabilized it has been walking down this dramatic move, and after reducing rates by 2% on January 30 to 15%, moments ago the Bank of Russia once again cut rates this time by the expected 100 bps to 14%. The bank also said that more rate cuts are in the pipeline.

 
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Bank Of Korea Unexpectedly Cuts Interest Rate To Record Low 1.75%, 24th Central Bank To Ease In 2015





The currency war salvos just keep on coming.  Moments ago the BOK unexpectedly (the move was predicted by just 2 of 17 economists polled by Bloomberg) cut its policy rate from 2.00% to a record low 1.75%, in what is clearly a full-blown retaliation against the collapse currency of its biggest export competitor, Japan, whose currency has cratered to a level that many in South Korea believe has become a direct subsidy for its competing exports. As such the only question is why the BOK didn't cut earlier. And following the surprise rate cut by Thailand earlier today, the "surprise" South Korean rate cut means there are now 24 easing policy actions by central banks in 2015 alone.

 
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