• derailedcapitalism
    10/12/2015 - 22:56
    Stretched debt-to-income, increased contract work (to the detriment of full-time work), and record housing prices are forcing Canadians to monetizing assets through ride-sharing, AirBnB and through...


Tyler Durden's picture

Aggressive Chinese Intervention Prevents Another Rout, Sends Stocks Soaring 5% In Last Trading Hour; US Futures Jump

After a 5 day tumbling streak, which saw Chinese stock plunge well over 20% and 17% in just the first three days of this week, overnight the Shanghai Composite was hanging by a thread (and threat) until the last hour of trading. In fact, this is what the SHCOMP looked like until the very end: Up 2.6%, up 1.2%, up 2.8%, up 0.6%, up 2%... down 0.2%. And then the cavalry came in: "Heavyweight stocks like banks and insurance companies helped pull up the index, and it’s possibly China Securities Finance entering the market again to shore up stocks," Central China Sec. strategist Zhang Gang told Bloomberg by phone. Net result: the Composite, having been red just shortly before the close, soared higher by 156 points or 5.4%, showing the US stock market just how it's down.

Tyler Durden's picture

Western Democracy Is An Endangered Species On Its Way To Extinction

Just as the Roman Empire ended in the destruction of the Roman people, the American Empire will end in the destruction of the American people. Judging from histories, Roman citizens were superior to American citizens; yet, Rome failed. Americans shouldn’t expect any other outcome. The price to be paid for insouciance, self-satisfaction, and complicity is high.

Tyler Durden's picture

1000s Of Political Figures Are Stashing Cash In Swiss Accounts, Foreign Ministry Admits

In spite of all the attention the nation has received in recent years, SCMP reports that thousands of so-called "politically exposed persons”, or PEPs - a category that includes heads of state and other top officials - hold Swiss bank accounts, a Swiss foreign ministry official said. But, perhaps not for much longer as Bern aims to finalize a law aimed at simplifying the process of freezing and unblocking such funds.

Tyler Durden's picture

Making Sense Of The Sudden Market Plunge

The eventual outcome to all this is captured brilliantly in this quote by Ludwig Von Mises, the Austrian economist: "There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." The credit expansion happened between 1980 and 2008, there was a warning shot which was soundly ignored by ignorant central bankers, and now we have more, not less, debt with which to contend.

Tyler Durden's picture

How Big Are China's Man-Made Military Outposts? The Pentagon Explains

Apparently, someone at the Pentagon thought that between the four-year civil war in Syria, the heightened violence in Turkey, the proxy war in Ukraine, and the threat of a new war in the Korean Peninsula, the geopolitical situation wasn’t unstable enough, because on Thursday the DoD issued a report entitled "Asia Pacific Maritime Security Strategy," in which a considerable amount of space is spent discussing China’s land reclamation efforts in the Spratlys.

Tyler Durden's picture

Paul Craig Roberts: "Insouciance Rules The West"

In the Western world insouciance rules governments as well as peoples, and most likely also everywhere else in the world. It remains to be seen whether Russia and China have any clearer grasp of the reality that confronts them.

Tyler Durden's picture

What Obama Gets Wrong On Foreign Policy

"When does the statute of limitations on blaming President George W. Bush for the record of the current administration finally expire? Obama [has become] the president who, to use one of Rose’s baseball metaphors, called his shot only to strike out."

Tyler Durden's picture

Frontrunning: August 20

  • Crude prices fall towards $40 on global glut (Reuters)
  • China Central Bank Injects Most Funds Since February as Money Rates Increase (BBG)
  • Divided Fed Puts Yellen on Hot Seat (Hilsenrath)
  • So Long September: Bond Traders Defer Their Date With the Fed (BBG)
  • More Foods Boast Non-GMO Labels—Even Those Without GMO Varieties (WSJ)
  • UN to let Iran inspect alleged nuke work site (AP)
  • IAEA says access to Iran's Parchin military site meets demands (Reuters)
  • Time to End Quarterly Reports, Law Firm Says (WSJ)
Tyler Durden's picture

US Plans Dramatic Increase In Global Lethal & Surveillance Drone Flights By 2019

As if in complete defiance of the extensive contention at home and abroad, the Pentagon announced plans this week to dramatically ramp up global drone operations over the next four years. Daily drone flights will increase by 50% during this time, and will include lethal air strikes and surveillance missions to deal with the increase in global hot spots and crises.

Tyler Durden's picture

East Ukraine's Donetsk Republic Will Hold Referendum To Join Russia

Having waited for over a year for the Ukraine civil war/conflict to be relegated to back page status, if that, Putin has finally given the green light, and as Xinhua reports, leaders of the self-proclaimed "Donetsk People's Republic" are planning to hold a referendum on seceding from Ukraine and joining Russia, the Donetsk-based Ostrov news agency reported Wednesday.

Tyler Durden's picture

23 Nations Around The World Where Stock Market Crashes Are Already Happening

You can stop waiting for a global financial crisis to happen.  The truth is that one is happening right now.  All over the world, stock markets are already crashing...

Tyler Durden's picture

Is The New U.S. 'Law Of War Manual' Actually ‘Hitlerian'?

What seems undeniable about the Law of War Manual, is that there are self-contradictions within it. To assert that it "reads like it was written by Hitler's Ministry of War,” is going too far. But, to say that it’s hypocritical (except, perhaps, on torture, where it’s clearly a repudiation of GWB’s practices), seems safely true. Parts of the document are propaganda. The purpose isn’t to fool the public, who won’t read the document. The purpose of the propaganda is to enable future presidents to say, “But if you will look at this part of the Manual, you will see that what we are doing is perfectly legal.” Those mutually contradictory passages are there in order to provide answers which will satisfy both  the ‘hawks’ and  the ‘doves.’

Pivotfarm's picture

Aug 19 - PBOC injects $48bn into China Development Bank

The central bank has injected new capital into the China Development Bank (CDB), which provides medium and long term financing to major national projects, in a bid to reinforce its capital adequacy.

Tyler Durden's picture

What Investors Think Is The Biggest "Tail Risk" Right Now

According to the latest, just released survey concerns about both geopolitics and Greece have been largely forgotten, as have Chinese debt defaults, and instead these have been replaced with far more overarching fears about a China recession (made all the more acute after China's devaluation) and an Emerging Market debt crisis. In fact, according to BofA, "2 out of 3 investors think either China recession or EM debt crisis = biggest "tail risks."

Syndicate content
Do NOT follow this link or you will be banned from the site!