en Lindsey Graham Launches 2 Russian 'Hacking' Probes, Demands Trump "Toughen Tone" <p><a href="">Having dropped out of the primary race almost exactly a year ago</a>, prominent foreign policy hawk, Republic Senator Lindsey Graham told CNN during an interview today that he plans to <strong>launch two separate probes</strong> (from both of his subcommittees) into Russia's "hacking" and demand that President-elect <em><strong>Trump "take a much tougher tone towards Russia... or they will break up our alliances</strong></em>."</p> <blockquote class="twitter-video"><p dir="ltr" lang="en">In intvw, GRAHAM announces plans for two new investigations into Russia hack, calls on Trump to toughen tone. Graham is the first Republican to call for an investigation into Russia after constant demands from the Democrats, and noted that he and John McCain support further sanctions on Putin.<a href=""></a></p> <p>— Manu Raju (@mkraju) <a href="">December 7, 2016</a></p></blockquote> <script src="//"></script> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="348" height="189" alt="" src="" /> </div> </div> </div> International Republican Institute John McCain John McCain Lindsey Graham Military personnel Politics Republican Party United States) United States Wed, 07 Dec 2016 18:18:53 +0000 Tyler Durden 579926 at Denzel Washington Slams Mainstream Media For Peddling "Bullshit" <p>Denzel Washington had some “news” for the mainstream media peddling the narrative that the presidential election turned on “fake news:” It’s all bullshit. </p> <p>Despite finding himself previously in the center of a "fake news" story, which falsely claimed the actor was switching his support of Hillary Clinton to Donald Trump, Washington still slammed the media implying it was no better than those "fake" outlets it criticizes.</p> <p><img src="" width="500" height="262" /></p> <p>Speaking to the press agency ITK at the National Museum of African American History and Culture, the Hollywood celebrity paraphrased Mark Twain when he said: <strong>“If you don’t read the newspaper, you’re uninformed. If you do read it, you’re misinformed,” </strong>Washington said, while promoting his new film “Fences” <a href="">according to The Hill</a>.&nbsp; </p> <p>One of the effects of "too much information," the 61-year-old Oscar winner says, is "the need to be first, not even to be true anymore." </p> <p><strong>"So what a responsibility you all have — to tell the truth," </strong>Washington exclaimed to the pack of reporters gathered on the red carpet.</p> <p>"In our society, now it's just first — who cares, get it out there. We don't care who it hurts. We don't care who we destroy. We don't care if it's true," Washington continued. </p> <p><strong>"Just say it, sell it. Anything you practice you'll get good at — including BS</strong>.</p> <p>His new film "Fences," based on an award-winning play of the same name, features Viola Davis and centers on the life of a black family in 1950s Pittsburgh. It is set to be released on Christmas and is considered one of the top Oscar contenders.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="800" height="419" alt="" src="" /> </div> </div> </div> Computing Donald Trump Entertainment Free software Human Interest Image segmentation Insight Segmentation and Registration Toolkit ITK Newspaper Software Wed, 07 Dec 2016 17:53:39 +0000 Tyler Durden 579919 at France: Decomposing In Front Of Our Eyes <p><a href=""><em>Submitted by Yves Mamou via The Gatestone Institute,</em></a></p> <ul> <li>Four officers were injured (two badly burned) when around 15 &quot;youths&quot; (Muslim gang-members) swarmed their cars and hurled rocks and firebombs at them. <strong>Police were aggrieved when the minister of interior called the attackers &quot;little wild ones.&quot; Police and opposition politicians replied that the attackers were not &quot;little wild ones but criminals who attacked police to kill.&quot;</strong></li> <li>Two students at a vocational training school in Calais attacked a teacher, and one fractured the teacher&#39;s jaw and several teeth -- because the teacher had asked one of the students to get back to work.</li> <li><em><strong>&quot;This is a warning. These young people did not attack the school by chance; they wanted to attack the institution, to attack the State.&quot;</strong></em> &mdash; Yacine, 21, a student at the University of Paris II.</li> <li>The riot, which lasted for four nights, broke out after the arrest of a driver who did not stop when asked to by a policeman.</li> <li>This revolt of one pillar of French society, the police, was the biggest that ever happened in modern France. Yet, virtually no one in France&#39;s mainstream media covered the event.</li> <li><em><strong>&quot;Everything that represents state institutions (...) is now subjected to violence based on essentially sectarian and sometimes ethnic excesses, fueled by an incredible hatred of our country. We must be blind or unconscious not to feel concern for national cohesion&quot;. </strong></em>&mdash; Thibaud de Montbrial, lawyer and expert on terrorism.</li> </ul> <p>France will elect a new president in May 2017. Politicians are already campaigning and debating about deficits, welfare recipients, GDP growth, and so on, but they look like puppets disconnected from the real country.</p> <p><em><strong>What is reality in France today?</strong></em></p> <p>Violence. It is spreading. Not just terrorist attacks; pure gang violence. It instills a growing feeling of insecurity in hospitals, at schools, in the streets -- even in the police. The media does not dare to say that this violence is coming mainly from Muslim gangs -- &quot;youths,&quot; as they call the in the French media, to avoid naming who they are. A climate of civil war, however, is spreading visibly in the police, schools, hospitals and politics.</p> <h3><u>The Police</u></h3> <p>The most jolting evidence of this malaise was to see more than 500 French police officers <a href="" target="_blank">demonstrating</a> with police cars and motorcycles on the night of October 17, without the backing of labor unions, without authorization, on the Champs Elysées in Paris. <a href="" target="_blank">According</a> to the daily, <em>Le Figaro</em>, &quot;the Interior Ministry was in panic,&quot; frightened by a possible coup: &quot;Police blocked access to the Avenue Marigny, which runs beside the Presidential Palace and overlooks the Place Beauvau.&quot;</p> <p>On October 18, when Jean-Marc Falcone, director-general of National Police, met the leaders of the protest, he was <a href=";rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=0ahUKEwiI76rFu-bPAhVCfhoKHTcjDDcQqQIIHTAA&amp;;usg=AFQjCNGlqYWT-o73nyPWvBTCMAXoJtfxTQ&amp;sig2=RDw8_Umi0rOzJ8Kirwe2Ng&amp;bvm=bv.135974163,d.d2s" target="_blank">surrounded</a> by hundreds of police officers urging him to resign.</p> <p>The main cause of their anger seems primarily the violence often directed against police, and terrorist attacks. On the terrorist level, two policemen were <a href=";rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=0ahUKEwjVm-f5vubPAhVLWxoKHfapBoMQFggfMAA&amp;;usg=AFQjCNG2ewVk3Zj_X-_A5enxWOwJ8vCgtw&amp;sig2=DIIA9-uZsDtuOaqdoEH9og&amp;bvm=bv.135974163,d.d2s" target="_blank">stabbed to death</a> in Magnanville in June 2016 by a Muslim extremist, Larossi Aballa. This spring, more than 300 police officers and <em>gendarmes</em> were <a href="" target="_blank">injured</a> by demonstrators. In May, police unions demonstrated in the streets of Paris to protest &quot;anti-police hatred.&quot;</p> <p>This autumn, the last straw was an attack on a police patrol in the Paris suburb of Viry-Châtillon. Four officers were <a href="" target="_blank">injured</a> when a group of around 15 &quot;youths&quot; (Muslim gang-members) swarmed their cars in the town and hurled rocks and firebombs at them. Two policemen were badly burned; one had to be placed in an induced coma. The same scenario took place a few days later: a police patrol was ambushed in another no-go zone in the &quot;sensitive&quot; area of Val-Fourré.</p> <table align="center" border="0" cellpadding="0" cellspacing="0" style="margin-bottom: 5px; max-width: 600px;"> <tbody> <tr> <td style="max-width: 600px; border: 1px solid black;"><img border="0" height="338" src="" width="600" /><br /> <p style="font-size: 82%; margin: 4px 6px;">Four police officers were recently injured (two badly burned) when a group of around 15 &quot;youths&quot; (Muslim gang-members) swarmed their cars and hurled rocks and firebombs at them, in the Paris suburb of Viry-Châtillon. (Image source: Line Press video screenshot)</p> </td> </tr> </tbody> </table> <p>Police were also aggrieved by Bernard Cazeneuve, the minister of interior, who called the attackers &quot;sauvageons&quot; (&quot;little wild ones&quot;). Police and opposition politicians <a href=";rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=0ahUKEwi7rND8xebPAhWJvRoKHbDgC74QFggcMAA&amp;;usg=AFQjCNFYuUqQCYwiOyTa4mED8z30iPPHzg&amp;sig2=7-GwxInCnYDO9uDBJ4X1og" target="_blank">replied</a> that the attackers were not &quot;little wild ones but criminals who attacked police to kill.&quot;</p> <p>&quot;Police are seen as an occupying force,&quot; declared Patrice Ribeiro of the <em>Synergie Officiers</em> police commanders&#39; union. &quot;It is not surprising that violence is spiking.&quot;</p> <p>On October 18, <em>Le Figaro</em> launched an online poll online with one <a href="" target="_blank">question</a><span style="text-decoration: underline;">:</span> &quot;Do you approve the protest by policemen?&quot; Ninety percent of the 50,000 respondents answered &quot;yes.&quot;</p> <p>Since then, police demonstrations have spread to other cities. More than a month after the start of the discontent, police officers were still protesting in every big city. On November 24, two hundred police officers <a href="" target="_blank">demonstrated</a> in Paris between Place de la Concorde and the Arc de Triomphe, to express their &quot;anger.&quot; Police in civilian clothes, some wearing orange armbands, some hidden under a scarf or hood, supported by citizens, gathered in the evening at the Place de la Concorde, before walking the length of the Champs Elysée up to the Arc de Triomphe, where they formed a human chain around the monument and sang <em>La Marseillaise</em> (France&#39;s national anthem).</p> <p>This revolt of one pillar of French society, the police, was the biggest that ever happened in modern France. Yet, virtually no one in France&#39;s mainstream media covered the event.</p> <h3>Schools</h3> <p><strong>Tremblay-en-France (Seine-Saint-Denis close to Paris):</strong> The headmaster of the Hélène-Boucher training school was <a href="" target="_blank">attacked</a> on October 17 by several individuals outside the school. Some &quot;youths&quot; were attacking the building with firebombs, and when the headmaster tried to calm the situation, one of the &quot;youths&quot; answered with blows. Fifty unidentified people were involved in the incident. This was the third episode of violence to occur in the vicinity. Four days earlier, two vehicles were torched.</p> <p>One month later, the daily <em>Le Monde</em> held <a href="" target="_blank">a meeting</a> with several students, The goal of this meeting was to try to understand the cause of the violence in in Tremblay. Yacine, 21, a student at the University of Paris II, said: &quot;This is a warning. These young people did not attack the school by chance; they wanted to attack the institution, to attack the State.&quot;</p> <p><strong>Argenteuil (Val d&#39;Oise, suburb of Paris):</strong> A teacher at the Paul Langevin primary school, was <a href="" target="_blank">beaten up</a> in the street, on October 17, while leading children back to school from tennis courts a kilometer from the school. After hearing the teacher raise his voice at a child, two young men stopped their car, told the teacher he was a &quot;racist&quot; and beat him in front of the children. <a href=";rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=0ahUKEwi96LqSzubPAhXIWhoKHaGyArkQqQIIHTAA&amp;;usg=AFQjCNEBrMK86M2hw7jc9BnubCxUIWO9Vw&amp;sig2=thI7gFHpwMQUBzEQS_TxtA&amp;bvm=bv.135974163,d.d2s" target="_blank">According to</a> <em>Le Parisien</em>, one of the attackers justified his actions by accusing the professor of &quot;racism&quot;. &quot;You are not the master,&quot; said the man. &quot;The only Master is Allah&quot;.</p> <p><strong>Colomiers (Toulouse, south of France</strong>). A physical-education teacher was assaulted by a student on October 17<sup>,</sup> when the teacher tried to stop the student from leaving the school through a prohibited exit.</p> <p><strong>Calais (Pas-de-Calais):</strong> Two students at a vocational training school in Calais attacked a teacher, and one fractured the teacher&#39;s jaw and several teeth on October 14, according the local paper, <a href="" target="_blank"><em>Nord-Littoral</em></a>. The students attacked the electrical engineering teacher because he had asked one of the students to get back to work.</p> <p><strong>Saint-Denis (Seine Saint-Denis, suburb of Paris):</strong> On October 13, a school headmaster and his deputy <a href="" target="_blank">were beaten</a> by a vocational student who had been reprimanded for arriving late.</p> <p><strong>Strasbourg:</strong> A mathematics teacher was brutally attacked on October 17 at the Orbelin school. The headmaster of the institution told <a href="" target="_blank">France Bleu</a> that a &quot;youth,&quot; who is not a student at the school, had beaten the teacher. This was not the first time that the &quot;youth&quot; had entered the building. Earlier, when the teacher asked him to leave his class, the &quot;youth&quot; delivered several blows to the teacher&#39;s face before fleeing.</p> <p>All these attackers were not terrorists, but like Islamic terrorists, they apparently wanted to destroy &quot;attack the institution, to attack the State.&quot;</p> <h3>Hospitals</h3> <p>On October 16, fifteen individuals accompanying a patient sowed terror in the emergency department of Gustave Dron Hospital in Tourcoing, according to <a href="" target="_blank"><em>La Voix du Nord</em></a>. A doctor was severely beaten; another pulled by the hair. Doctors and nurses told the newspaper they were still in shock. Said a nurse:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&quot;Ten people forced their way into the heart of the ER. The doctors asked them to leave... When everything stopped, I realized that the ER was ravaged, patients terrorized, relatives of patients crying.&quot;</p> </blockquote> <p>The attackers were from the district of La Bourgogne, an area essentially populated with North African immigrants. Three people were arrested.</p> <p>In the same area of La Bourgogne, there was a <a href="" target="_blank">riot</a> on October 4. Fourteen cars were burned and 12 people arrested. The riot, which lasted for four nights, broke out after the arrest of a driver who did not stop when asked to by a policeman.</p> <h3>Politics</h3> <p>On October 14, Nadine Morano, deputy of the opposition party Les Républicains, tried physically to prevent an Algerian businessman, Rachid Nekkaz, from entering the Center of Public Finance of Toul, in the east of France. Nekkaz is known for paying fines of Muslim women arrested because they were wearing a burqa in public, banned by law since October 2010. Police came to protect the right of Mr. Nekkaz to pay the fine. An amendment to the finance law is currently under discussion to block and punish practices, like those of Nekkaz, that circumvent the law.</p> <p>President François Hollande is currently <a href="" target="_blank">under fire</a> after the publication of a book, <em>A President Should Not Say That...</em> In it, he is reported to have said, &quot;France has a problem with Islam,&quot; and &quot;there are too many migrants in France&quot; -- remarks Hollande claims he never made. Another quote in the book that Hollande denies saying:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&quot;We cannot continue to have migrants who arrive without control, in the context of the attacks... The secession of territories (no go zones)? How can we avoid a partition? Because it is still what is going to happen.&quot;</p> </blockquote> <p>President Hollande spends his time apologizing for things he never said, but should have said because they are true.</p> <h3>French People</h3> <p><strong>French Chinese:</strong> The French Chinese live in the same suburbs as Muslims and are attacked and harassed, to the general indifference of police.</p> <p>As crime against community members has spiraled, about 50,000 ethnic Chinese staged a protest march in Paris on September 4, after the fatal mugging of a Chinese tailor.</p> <p>The protesters, all of them wearing white T-shirts reading &quot;Security for All&quot; and waving French flags, rallied at the Place de la République. They had organized the demonstration by themselves and were not supported by the traditional &quot;human rights&quot; groups, which prefer to help Muslim migrants.</p> <p><strong>Public Opinion:</strong> In January 2016, Cevipof, a think tank of the Paris Institute of Political Studies (<em>Sciences Po</em>), released its seventh Barometer of Political Trust, a poll published annually to measure the values of democracy in the country, and based on interviews with 2074 people:</p> <ul> <li><strong>What is your current state of mind?</strong> Listlessness 31%, Gloom 29%, Mistrust 28%, Fear: 10%</li> <li><strong>Do you trust government?</strong> Not much 58%, not at all 32%</li> <li><strong>Do you trust lawmakers?</strong> Not much 39%, not at all 16%%</li> <li><strong>Do you trust the president?</strong> Not much 32%; not at all 38%</li> <li><strong>Do politicians care about what the people think?</strong> Not much 42%, not at all 46%</li> <li><strong>How democracy is working in France?</strong> Not well 43%, not well at all 24%</li> <li><strong>Do you trust political parties?</strong> Not much 47%, not at all 40%</li> <li><strong>Do you trust the media?</strong> Not much 48% not at all 27 %</li> <li><strong>What do you feel about politics?</strong> Distrust 39%; disgust 33%, boredom 8%</li> <li><strong>What do you feel about politicians?</strong> Disappointment 54%; disgust 20%</li> <li><strong>Corruption of politicians?</strong> Yes 76%</li> <li><strong>Too many migrants?</strong> Yes, plus tend to agree: 65%</li> <li><strong>Islam is a threat?</strong> Yes, plus tend to agree: 58%</li> <li><strong>Proud to be French?</strong> Yes 79%</li> </ul> <p>What this poll shows is the gap between people and politicians has never been so vast.</p> <p>Thibaud de Montbrial, lawyer and expert on terrorism, <a href="" target="_blank">declared on October 19</a> to <em>Le Figaro</em>:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>The term &quot;dislocation&quot; of French society seems appropriate. Violence against police, hospitals, attacks that multiply against schools and teachers... are attacks against pillars of the ruling domain. In other words, everything that represents state institutions (...) is now subjected to violence based on essentially sectarian and sometimes ethnic excesses, fueled by an incredible hatred of our country. We must be blind or unconscious not to feel concern for national cohesion.&quot;</p> </blockquote> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="579" height="311" alt="" src="" /> </div> </div> </div> Corruption France French police Gatestone Institute Gustave Dron Hospital Interior Ministry Les Républicains national police Newspaper Paris Institute of Political Studies Politics of France Reality University of Paris II. Violence Violent crime Wed, 07 Dec 2016 17:35:44 +0000 Tyler Durden 579920 at This Is the Purge We All Knew Was Coming: "Shutting Down Extremist Content" <p><a href=""><em>Submitted by Mac Slavo via,</em></a></p> <p><a href=""><img height="266" src="" width="466" /></a></p> <p><strong>There have been murmurs about it all along.</strong></p> <p><strong>Someday, they simply wouldn&rsquo;t allow certain things to remain on the Internet any longer. </strong>The potential to reach a global audience with important information, and the idea that it could be in the hands of anyone is just too big.</p> <p>So it is no surprise that many corporate giants from Silicon Valley are <strong>now putting forward a unified front to silence free speech on social media.</strong></p> <p>Hashtags, keywords and flagged accounts, logged in various databases, will be shared and enforced across the web. <strong>Shutting down content identified as unacceptable will now be streamlined, </strong>and leave unpopular posters with fewer places to peddle their extremist, outside views.</p> <p>According to <a href="" target="_blank"><strong>Yahoo! News</strong></a>:</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>Web giants YouTube , Facebook , Twitter and Microsoft will step up efforts to remove extremist content from their websites by creating a common database.</strong></p> <p>&nbsp;</p> <p>The companies will share &lsquo;hashes&rsquo; &ndash; unique digital fingerprints they automatically assign to videos or photos &ndash; of extremist content they have removed from their websites to enable their peers to identify the same content on their platforms.</p> <p>&nbsp;</p> <p>&ldquo;We hope this collaboration will lead to greater efficiency as we continue to enforce our policies to help curb the pressing global issue of terrorist content online,&rdquo; the companies said in a statement on Tuesday.</p> <p>&nbsp;</p> <p>[&hellip;]</p> <p>&nbsp;</p> <p><strong>The European Union set up an EU Internet Forum last year bringing together the internet companies, interior ministers and the EU Counter-Terrorism Coordinator to find ways of removing extremist content.</strong></p> </blockquote> <p>Many current incidents are being used to push the idea that a new online policing &ndash; and a pulling of the weeds &ndash; is now necessary.</p> <p>The &ldquo;fake news&rdquo; purging campaign has reached across the blogosphere and alternative media and punished websites that have dared to report on such taboo topics as Pizzagate, Wikileaks email dumps, any controversial aspects of the Syrian war and many other serious topics which these agenda-driven companies have opted to suppress.</p> <p>While these platforms offer the opportunity to reach a wide audience, the centrality of ubiquitous platforms like Facebook, Google and Twitter is, obviously, that <a href="" target="_blank"><strong>they have the power to delete accounts</strong></a> and drive down audience response by tweaking the algorithm.</p> <p><strong>They can make you invisible.</strong></p> <p><strong>That is the state of free speech in 2016. </strong>It can be eradicated at a moment&rsquo;s notice, and perhaps for reasons you aren&rsquo;t even aware of.</p> <p><iframe frameborder="0" height="315" src="" width="560"></iframe></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="466" height="266" alt="" src="" /> </div> </div> </div> Collective intelligence Computer jargon Computing European Union European Union Google Hashtag Information science Knowledge representation Social media Social networking services Social networks Software Technology Twitter Twitter Twitter Web 2.0 World Wide Web Wed, 07 Dec 2016 17:28:42 +0000 Tyler Durden 579882 at What's Behind The Relentless Market Surge? RBC Explains <p><em>Confused by the relentless surge in stocks, which appear to have collectively decided to have no more down days as they ramp higher day after day as VIX crashes, and may soon see single digits? Here is one theory courtesy of RBC's head of cross-asset strat, Charlie McElligott.</em></p> <p><strong>DATA AND TRUMP KICKING-UP 'ANIMAL SPIRITS,' AGAINST SIGNS OF Y.E. GROSS-DOWNS</strong></p> <p>The pause in the rates trajectory continues to be extraordinarily ‘tame,’ as many have been anticipating a sharper ‘counter-trend rally’ which has yet to occur.&nbsp; One thought here is the ongoing situation with Chinese outflows, with data overnight showing their FX reserves dropping the most in 10 months…as such we see the Yuan at 8 year lows against the Dollar.&nbsp; The rhetoric and twitter-barbs from Trump regarding the potential to paint China as a currency manipulator, along with the Taiwan phone-call faux paus, continue to agitate the situation.&nbsp; </p> <p><strong>It is certainly reasonable to believe that this source of UST selling will continue to keep USTS rallies ‘limp,’ </strong>and still in front of a very pro-growth / reflationary Trump policy mix to come: lower corporate and individual taxes, industry deregulation, trade policy (tariffs will drive up domestic prices as cheaper international goods competition is removed) and a fiscal policy shift away from monetary policy will all conspire to take rates higher in the year + window ahead.</p> <p><em><strong>COMMENTARY: </strong></em>I’ll keep this simple…<strong>we continue to see obvious re-risking in the form of “buy everything” price-action, as investors push further out onto the risk curve against a shift away from the 5+ year narrative of “secular stagnation” towards positioning that allows capture of “reflation animal spirits.”</strong><br />&nbsp;<br />Add-in the market ‘comfort’ of knowing that both the BoJ (Iwata reiterating that they can accelerate / expand purchases overnight) and the ECB (extension expectations tomorrow) will continue providing a QE-monetary policy “backstop” to keep the grind higher in rates from getting ‘disorderly’ in the medium-term.&nbsp; This is critical to avoiding ‘VaR shocks,’ as well as avoiding a drag to the broad economy through ‘financial tightening.’ </p> <p>More of the same “price is news” on reflation positioning-pivot—a look at market metrics:<br />&nbsp;<br />--USD 5Y5Y inflation swaps making 2-year highs last week and holding<br />--UST 5Y Zero coupon inflation yields at 26-month highs last week and holding<br />--UST 30Y Breakeven yields at 26-month highs last week and holding<br />--WTI Crude 17-month highs this week and holding<br />--XLF/XLU ratio at 8-year highs<br />--Global Cyclicals to Defensives index ratio at 2-year highs<br />--IWM/TLT ratio at 3-year highs <br />--U.S. Growth / Value ETF ratio at 2.5-year lows </p> <p>And to the macro data-points (note: much of this is expressed in the charts section below):</p> <p>--G10 Economic Surprise Index at 3-year highs<br />--US Consumer Confidence printing at 9-year highs<br />--CEO Confidence Index 3rd highest print since July 2007<br />--Global Manufacturing PMI’s at 27-month highs<br />--Global Services PMI’s at 1-year highs<br />--49-month highs in G10 Inflation Surprise Index </p> <p><strong>As such, we are seeing ‘real money’ client portfolio rotation stay ‘front-footed’ on adding risk</strong>.&nbsp; That said, and for a multitude of reasons, we are also seeing signs of tactical profit-taking into year-end from some of the leveraged-fund universe—where the performance (or outright ‘survival’) focus has been well-documented.&nbsp; The desire there is to ‘lock’ gains, survive and advance into next year.&nbsp; <strong>Thus, some evidence of ‘grossing down’ behavior continues in pockets, as shorts outperform while a smattering of ‘winning’ longs are sold.</strong></p> <p><strong>CROSS-ASSET RISK THERMOMETER: Moving ‘right and up’ on the risk-curve</strong></p> <p><img src="" width="506" height="214" /></p> <p>EQUITIES THEMATIC—SAME AS IT EVER WAS: Sm<strong>all Cap / High Beta / Cyclicals / Value / High Short Interest / Inflation / Domestic Exposure / Weak Balance Sheet over Low Vol / Defensives / Anti-Beta / Growth / Quality / Strong Balance Sheet.&nbsp; </strong></p> <p><img src="" width="506" height="289" /></p> <p>EQUITY FACTORS—IF IT AIN’T BROKE, DON’T FIX IT: <strong>Size (long small cap over short large cap) and Value (long value, short growth) continue to crush it, while momentum / quality / anti-beta hammered as per the ‘cyclical reflation’ regime.</strong></p> <p><img src="" width="506" height="189" /></p> <p>PERCENTAGE RETURNS ON REFLATIONARY ‘CYCLICAL BETA’ EQUITIES PROXIES AGAINST ‘LOW VOL’ DEFENSIVES SINCE EARLY SUMMER TELL THE STORY: <strong>Must…have…gearing.&nbsp; </strong></p> <p><img src="" width="506" height="325" /></p> <p><strong>WHY THE RE-RISKING?&nbsp; REPEAT AFTER ME—“ACTUAL ECONOMIC DATA AND TRUMP CONFIDENCE KICKING-UP ‘ANIMAL SPIRITS’”:</strong><br />&nbsp;<br /><em>--G10 ECONOMIC DATA TRAJECTORY AT 3 YEAR HIGHS:</em></p> <p><img src="" width="506" height="325" /></p> <p><em>--CONSUMER CONFIDENCE AT 9 YEAR HIGHS:</em></p> <p><img src="" width="506" height="325" /></p> <p><em>--CEO CONFIDENCE 3RD HIGHEST READING SINCE JULY 2007:</em></p> <p><img src="" width="506" height="325" /></p> <p><em>--GLOBAL MANUFACTURING PMI’s AT 2+ YEAR HIGHS:</em></p> <p><img src="" width="506" height="325" /></p> <p><em>--GLOBAL SERVICES PMI’s AT 1 YEAR HIGHS:</em></p> <p><img src="" width="506" height="325" /></p> <p><em>--G10 INFLATION SURPRISE INDEX AT 4+ YEAR HIGHS:</em></p> <p><img src="" width="510" height="331" /></p> <p><em>--XLF / XLU RATIO AT 8 YEAR HIGHS AS DEMAND FOR CYCLICALITY PERCOLATES:</em></p> <p><img src="" width="510" height="331" /></p> <p><em>--2+ YEAR HIGHS IN ‘GLOBAL CYCLICALS TO DEFENSIVES’ RATIO:</em></p> <p><img src="" width="510" height="331" /></p> <p>--2.5 YEAR LOW IN U.S. ‘GROWTH VS VALUE’ RATIO AS FINS AND ENERGY EXPOSURE-GRAB ACCELERATES:</p> <p><img src="" width="510" height="331" /></p> <p><em>--IWM / TLT RATIO SHOWS 3 YEAR HIGHS AS RE-RISKING ACCELERATES:</em></p> <p><img src="" width="510" height="331" /></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="506" height="325" alt="" src="" /> </div> </div> </div> Bank of Japan Business China Consumer Confidence Crude Currency intervention Cyclicality Economy European Central Bank Inflation Monetary Policy Reflation Short Interest Yuan Wed, 07 Dec 2016 17:17:20 +0000 Tyler Durden 579918 at WORLD ECONOMIES IN TROUBLE: Middle East Oil Exports Lower Than 40 Years Ago <p><img src="" height="123" width="230" alt="SRSrocco" /></p> <p>By the <em><strong><a href="">SRSrocco Report</a></strong></em>,</p> <p>Yes, it's true.&nbsp; Middle East net oil exports are less than they were 40 years ago.&nbsp; How could this be?&nbsp; Just yesterday, Zerohedge released a news story stating that <em><strong><a href="">OPEC oil production reached a new record high of 34.19 million barrels per day.</a></strong></em>&nbsp; To the typical working-class stiff, driving a huge four-wheel drive truck pulling a RV and a trailer behind it with three ATV's on it, this sounds like great news.</p> <p>Unfortunately for the Middle East, this isn't something to celebrate.&nbsp; Why?&nbsp; Well, let's just say, there's more to the story than record oil production.</p> <p>While the Middle East oil companies were busy working hard (spending money hand over fist) to produce this record oil production, their wonderful citizens were working even harder to consume as much oil as they could get their hands on.</p> <p><span style="color: #800000;"><strong>In the past 40 years, Middle East domestic oil consumption surged more than six times from 1.5 million barrels per day (mbd) in 1976, to 9.6 mbd in 2015.</strong></span>&nbsp; This had a seriously negative impact on rising Middle East oil production:</p> <p style="text-align: center;"><img src="" height="358" width="500" alt="Middle East Oil production vs Net Exports" style="vertical-align: middle;" /></p> <p>According to the 2016 BP Statistical Review, the Middle East produced 30.10 mbd of oil in 2015 compared to 22.35 mbd in 1976.&nbsp; This was a growth of 7.75 mbd.&nbsp; However, Middle East domestic oil consumption increased from 1.51 mbd in 1976 to 9.57 mbd in 2015.&nbsp;&nbsp; <strong>Thus, the Middle Eastern economies devoured an additional 8.06 mbd of oil during that 40 year time-period</strong>.</p> <p style="padding-left: 30px;"><span style="color: #ff0000;"><strong>NOTE:</strong></span>&nbsp; The production data shown in the chart above only represents Middle East oil production.&nbsp; OPEC members not included are Algeria, Angola, Ecuador, Gabon, Libya, Nigeria and Venezuela.&nbsp; I only listed the production data for the Middle East as the data was readily available.</p> <p>Regardless, if we look at the two bars on the right side of the chart, <span style="color: #800000;"><strong>we can see that Middle East net oil exports were higher in 1976 at 20.84 mbd versus 20.44 mbd in 2015.</strong></span>&nbsp; Basically, all the hard work the Middle East oil companies spent on increasing production over the past 40 years went to supplying their own insatiable domestic consumption.</p> <p>Here is a breakdown of the some of the Middle Eastern countries oil consumption:</p> <p style="text-align: center;"><img src="" height="375" width="500" alt="Middle East Oil Consumption" style="vertical-align: middle;" /></p> <p>In 1976, Kuwait only consumed 84,000 barrels per day (bd) of its own oil, but this jumped nearly ten times to 818,000 bd in 2015.&nbsp; While Iran's oil consumption increased nearly four times from 1976 to 2015, Saudi Arabia wins the award as its economy is now consuming a staggering eight times as much oil than it did during the same time period.</p> <p>If we look at it another way, <span style="color: #800000;"><strong>Middle East domestic oil consumption now represents 32% of its overall production compared to only 7% in 1976</strong></span>:</p> <p style="text-align: center;"><img src="" height="358" width="500" alt="Middle East Oil Production versus Consumption" style="vertical-align: middle;" /></p> <p>This is defiantly bad news for the Middle Eastern National Oil Companies.&nbsp; If these oil companies are spending a lot of their oil profits just to increase production to feed their growing domestic economies, what happens when production finally starts to decline?&nbsp; This is what Jeffery Brown wrote about when he developed his <em><strong><a href="">Export Land Model</a></strong></em>:</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p style="padding-left: 30px;">It models the decline in oil exports that result when an exporting nation experiences both a peak in oil production and an increase in domestic oil consumption. In such cases, exports decline at a far faster rate than the decline in oil production alone.</p> <p style="padding-left: 30px;">&nbsp;</p> <p style="padding-left: 30px;"><strong>The Export Land Model is important to petroleum importing nations because when the rate of global petroleum production peaks and begins to decline, the petroleum available on the world market will decline much more steeply than the decline in total production.</strong></p> </blockquote> <p>A perfect example of this is Indonesia.&nbsp; Indonesia has been a apart of OPEC for decades (until it was suspended in 2009).&nbsp; However, it is now consuming more oil than it produces:</p> <p style="text-align: center;"><img src="" height="367" width="500" alt="Indonesia Oil Production vs Consumption" style="vertical-align: middle;" /></p> <p>This is an older chart from a 2012 Silverseek presentation, but we can clearly see that Indonesia's net oil exports declined significantly since 1980.&nbsp; In 1980, Indonesia's net oil exports were 1.18 mbd versus net imports of 489,000 bd in 2011.&nbsp; <span style="color: #800000;"><strong>And according to the 2016 BP Statistical Review, Indonesia's oil production has fallen to 825,000 bd compared to domestic consumption of 1.63 mbd</strong></span>.</p> <p>Thus, Indonesia had to import 805,000 bd of oil in 2015 just to meet its domestic oil consumption.&nbsp; Which is why I found this article on Zerohedge completely hilarious,<em><strong><a href=""> Vienna Shocker: Indonesia Suspended From OPEC</a></strong></em>:</p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p style="padding-left: 30px;">But the most shocking announcement is that Indonesia appears to have been suspended from OPEC, and that its oil output, which according to the latest OPEC monthly report was 722kpd, will be distributed among other OPEC nations, in what may amount to a production "shuffle" not a cut.</p> </blockquote> <p>Why in the living hell is OPEC getting so worked up about Indonesia.&nbsp; Not only should Indonesia be suspended from OPEC, it should be kicked out.&nbsp; I have nothing against Indonesia, but why is Indonesia still apart of OPEC if it is now importing 805,000 bd more oil than it is producing... who cares???</p> <p>Why isn't that mentioned in the Zerohedge article?</p> <p>Now, what happened to Indonesia is also taking place in the Kingdom of Saudi Arabia.&nbsp; The chart below shows the damaging impact of rising domestic oil consumption on rising production:</p> <p style="text-align: center;"><img src="" height="366" width="500" alt="Saudi Arabia Oil production vs Consumption" style="vertical-align: middle;" /></p> <p>The olive-green color in the chart represents Saudi Arabia oil production, while the orange denotes net oil exports and the red is their domestic consumption.&nbsp; In 2005, Saudi Arabia's net oil exports were higher at 8.72 mbd versus 8.12 mbd in 2015.&nbsp; This was due to Saudi's domestic oil consumption increasing 1.5 mbd in the past ten years.</p> <p><span style="color: #800000;"><strong>Even though Saudi Arabia's total oil production reached a new high of 12 mbd in 2015 compared to 10.9 mbd in 2005, its domestic economy consumed all of that extra increase, and more.</strong></span></p> <p>What happens when Saudi Arabia's oil production finally declines and heads south as its domestic oil consumption increases?&nbsp; Well, we can look above at Indonesia as a perfect example.&nbsp; This is the double whammy most folks in the Mainstream or Alternative media fail to understand.</p> <p>Unfortunately, most precious metals investors do not read my energy articles.&nbsp; I have had this discussion with several websites that I do interviews with.&nbsp; For some strange or silly reason, most people put "Energy" into a category such as "Health Care", "Transportation", "Housing" and "Technology Stocks" for an example.&nbsp; They just look at Energy as a separate industry that they don't have to pay any attention to.</p> <p>This is the most frustrating and at the same time "ABSURD &amp; INSANE" thing I have to deal with on an ongoing basis.&nbsp; I plan on writing more articles in the future on why ENERGY IS THE KEY to everything, especially the precious metals.</p> <p>The World economies are in big trouble and they don't even know it.&nbsp; While oil depletion is by far the number one NAIL IN THE COFFIN, falling Middle East (and other OPEC members) net oil exports will be number two.</p> <p>Time to wake up and smell the coffee.</p> <p>Lastly, if you haven't checked out our new <a href="" target="_blank"><span style="color: #0000ff;"><strong><span style="text-decoration: underline;">PRECIOUS METALS INVESTING</span></strong></span></a> section or our new <a href="" target="_blank"><span style="color: #0000ff;"><strong><span style="text-decoration: underline;">LOWEST COST PRECIOUS METALS STORAGE</span></strong></span></a> page, I highly recommend you do.</p> <p>Check back for new articles and updates at the <a href="" target="_blank"><em><strong><span style="text-decoration: underline;"><span style="color: #0066cc;">SRSrocco Report</span></span></strong></em></a>.</p> Business Cartels Economy Energy crises Export Land Model Fail Kuwait Middle East Middle East OPEC OPEC Organization of Petroleum-Exporting Countries Peak oil Petroleum Petroleum industry Petroleum politics Precious Metals Saudi Arabia Wed, 07 Dec 2016 17:09:32 +0000 SRSrocco 579916 at What Happens Next? <p>'Investors' are <strong>buying both bonds</strong> (yields below post-Italy vote lows) and <strong>stocks </strong>(new record highs) ahead of tomorrow's ECB meeting... </p> <p>&nbsp;</p> <p><a href=""><img src="" width="600" height="316" /></a></p> <p>&nbsp;</p> <p>As VIX hits 4-month lows...</p> <p><a href=""><img src="" width="600" height="364" /></a></p> <p>&nbsp;</p> <p>Desperate to get the S&amp;P to a new record high...</p> <p><a href=""><img src="" width="600" height="364" /></a></p> <p>&nbsp;</p> <p>What happens next?</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="961" height="506" alt="" src="" /> </div> </div> </div> Bond Economics Economy European Central Bank Eurozone Eurozone crisis Finance Mathematical finance Money Stock market crashes Technical analysis VIX Wed, 07 Dec 2016 17:06:40 +0000 Tyler Durden 579915 at US F/A-18 Fighter Jet Crashes In Southwestern Japan <p>A US F/A-18 Hornet military jet stationed at the Iwakuni base in the Yamaguchi prefecture, crashed in Japan, NHK reported citing the country’s Defense Ministry. The plane crashed around 6:40pm local time in the Kochi Prefecture, the report said, adding that the pilot survived. </p> <p><img src="" width="500" height="278" /></p> <p>Search and rescue efforts are underway to find the Marine pilot who ejected.</p> <blockquote class="twitter-tweet"><p dir="ltr" lang="en">Breaking:Search/Rescue effort ongoing for Marine pilot who ejected from F/A-18 today 120 miles southeast of Iwakuni, Japan. Keep in prayers. <a href=""></a></p> <p>— III MEF Marines (@IIIMEF) <a href="">December 7, 2016</a></p></blockquote> <script src="//"></script><p>This incident is the latest in a series of F/A-18 crashes apparently plaguing the Marine Corps. It is the fourth Marine Corps F/A-18 to crash since July. In August, because of an increasing number of training mishaps, the Marines temporarily grounded their entire fleet of F/A-18s. In November two Hornets collided near Miramar in California during a training mission, forcing one of the pilots to eject. In July, another F/A-18C Hornet crash in Twentynine Palms killed 36-year old Marine, Maj. Richard Norton during a training mission.</p> <p>In late October an F/A-18 pilot had to eject the plane after landing at the Twentynine Palms Strategic Expeditionary Landing Field and suffered minor injuries.</p> <p>The cause of the incident is under investigation.</p> <p>The US Marine Corps’ Iwakuni Air Station hosts around 5,000 American troops and is used for Marine pilot training and to conduct air patrols with F/A-18 Hornets.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="900" height="500" alt="" src="" /> </div> </div> </div> Aircraft Aviation Carrier-based aircraft Defense Ministry Disaster Japan Marine Corps Air Station Miramar McDonnell Douglas F/A-18 Hornet Military aircraft Twentynine Palms Twentynine Palms Strategic Expeditionary Landing Field Twitter Twitter United States Marine Corps United States Marine Corps VFA-106 Wed, 07 Dec 2016 16:52:11 +0000 Tyler Durden 579912 at Trump Picks Iowa Governor Branstad As US Ambassador To China, Beijing Calls Him "Old Friend" <p>As reported in Frontrunning, President-elect Donald Trump will nominate Iowa Governor Terry Branstad as the next U.S. ambassador to China, choosing a longstanding friend of Beijing after rattling the world's second-largest economy by speaking to Taiwan's president. Earlier in Beijing, Foreign Ministry spokesman Lu Kang called Branstad an "<strong>old friend</strong>" of China when asked about a report on the appointment, although he added Beijing would work with any U.S. ambassador.</p> <p><img src="" width="500" height="333" /></p> <p>The appointment of Branstad will likely ease trade tensions between the two countries, the world's two biggest agricultural producers, diplomats and trade experts said <a href="">according to Reuters</a>. It also suggests that Trump may be ready to take a less combative stance towards China than many expected, the experts said. </p> <p>"We welcome him to play a greater role in advancing the development of China-U.S. relations," he told a daily news briefing. Branstad has likewise called Chinese President Xi Jinping a "longtime friend" when Xi visited Iowa in February 2012, only nine months before he became the Chinese leader. </p> <p>Xi visited Iowa in 1985 on an agricultural research trip when he led a delegation from Hebei Province. He returned 27 years later and reunited with some of the people he had met. </p> <p>Why an Iowa governor? </p> <p>For one, China is one of Iowa's biggest export markets, so Branstad is well-placed to deal with China-U.S. trade issues, said Professor Huang Jing, an expert on Chinese politics at the National University of Singapore. "This really sends a message that Donald Trump wants to handle China at the bilateral relationship level," he said.</p> <p>Branstad's personal ties with Xi could also help to ease U.S. access to Beijing's leadership, the diplomats and trade experts said, although they warned that his many years running Iowa, the top U.S. state for production of corn, soybeans and pigs, may not have prepared him for the more delicate tasks of diplomacy with Beijing. During Xi's 2012 trip, Chinese soybean buyers announced they would buy more than $4 billion in U.S. soybeans that year.</p> <p>Since then, the United States has grown more reliant on China's voracious appetite for commodities to spur demand for everything from oil to corn as global oversupply has hurt prices. Volumes of U.S. agricultural exports to China hit record levels in 2015. "It's natural that they should continue this good relationship with China," said Pan Chenjun, senior analyst at Rabobank in China.</p> <p>Still, Branstad will have his plate full trying to smooth over long-running tensions with China, which has seen its share of trades spats with the US in recent years. Specific U.S. trade concerns include allegations that China is dumping steel and aluminum in global markets below the cost of production, hurting American producers. In the agricultural sector, the U.S. has been unable to get Beijing to lift anti-dumping measures on U.S. broiler chicken products and an animal feed ingredient known as distillers' dried grains (DDGS).</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="702" height="468" alt="" src="" /> </div> </div> </div> Beijing Business Business China China–United States relations Communist Party of China Donald Trump Donald Trump Foreign Ministry Iowa National University of Singapore Reuters Terry Branstad United States Xi Jinping Wed, 07 Dec 2016 16:37:43 +0000 Tyler Durden 579908 at Indian Economy Crashes As Modi's "Black Money" Theory Collapses <p>Amid social unrest and loss of faith in the nation&#39;s currency, India&#39;s economy has ground to a halt with its Composite PMI crashing by a record in the last month as demonetization strikes.</p> <p><a href=""><img height="305" src="" width="600" /></a></p> <p>&nbsp;</p> <p>However, even more problematic is that Indians have <strong>validated 82% of bank notes</strong> rendered worthless by PM Modi, <strong>dramatically undermining the government&rsquo;s estimate of unaccounted wealth</strong> in the economy. <a href="">As Bloomberg reports</a>,</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>About 12.6 trillion rupees ($185 billion) had been deposited into bank accounts as of Dec. 3, the people said, asking not to be identified citing rules for speaking with the media. <strong>The government had estimated that about 5 trillion rupees of the 15.3 trillion rupees sucked out by Modi&rsquo;s move would stay undeclared</strong>, implying that this was cash stashed away to evade taxes, known locally as black money.</p> <p>&nbsp;</p> <p><u><strong>Lack of a meaningful cancellation could be a double blow for Modi as the measure was being used as a political and economic gauge of the success of his Nov. 8 move. </strong></u>One of Modi&rsquo;s biggest campaign pledges was to expose black money in Asia&rsquo;s No. 3 economy, and economists were viewing the cash as a potential windfall for the government.</p> <p>&nbsp;</p> <p><strong>&quot;Some of the windfall that the government was hoping for from the cancellation of notes will be dented,&quot;</strong> said Anjali Verma, chief economist at PhillipCapital Ltd. &quot;That means the fiscal stimulus that was being expected might also take some hit. That is not good news at a time when direct consumption, private investment is not expected to pick up.&quot;</p> <p>&nbsp;</p> <p>&quot;Markets are not too worried at the moment,&quot; said Chakri Lokapriya, Mumbai-based managing director at TCG Advisory Services, which manages about $3 billion. <strong>&quot;But if 12-13 trillion rupees comes back into the system it defeats the whole theory of black money.&quot;</strong></p> <p>&nbsp;</p> <p><u><strong>In such a situation where the gains of demonetization aren&rsquo;t apparent, individuals will more closely analyze the pain. </strong></u>A slump in demand due to the cash shortages will hurt company revenues and government tax collections, widening the budget deficit and ultimately weakening the rupee, Lokapriya said.</p> </blockquote> <p><strong>So was the whole effort merely, as Modi admitted, a move towards a cashless society after all?</strong> And not in any way related to corruption? Either way, it is too late now as faith in the fiat currency has collapsed.</p> <p>Finally, while most shrug and say <strong><em>&quot;how does that affect us?&quot;</em></strong>, the tumult in India is weighing heavily on the rest of the world via the oil market. India has been the world&rsquo;s fastest-growing crude market and that may weaken as the government&rsquo;s cash crackdown slows the economy. <a href="">As Bloomberg reports,</a></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>Diesel and gasoline use, which account for more than half of India&rsquo;s oil demand, will slow or contract this month and possibly early next year, </strong>according to Ivy Global Energy Pte., FGE and Centrum Broking Ltd.</p> <p>&nbsp;</p> <p>&ldquo;As the Indian economy largely depends on various cash-intensive sectors, <strong>the demonetization saga will no doubt slow down economic growth in the near term,</strong>&rdquo; said Sri Paravaikkarasu, head of East of Suez oil at FGE in Singapore. &ldquo;Moving into the first quarter, an expected slowdown in the economic growth should marginally drag down oil consumption, particularly that of transport fuels.&rdquo;</p> <p>&nbsp;</p> <p><strong>Diesel consumption could fall as much as 12 percent and gasoline demand as much as 7 percent this month,</strong> according to Tushar Tarun Bansal, director at Ivy Global Energy.</p> <p>&nbsp;</p> <p><strong>&ldquo;I expect to see a much smaller growth in diesel demand of about 2 percent in the first quarter,&rdquo;</strong> Bansal said.</p> <p>&nbsp;</p> <p><strong>The possible slow down this month and into next year is a reversal of the demand spike seen in November</strong> as people rushed to fill their tanks to take advantage of a rule allowing fuel retailers to accept the banned 500 and 1,000 rupee ($15) bills until Dec. 2.</p> </blockquote> <p>So an Indian PM &#39;flaps his wings&#39; and the rest of the world may have a hiccup.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="964" height="490" alt="" src="" /> </div> </div> </div> Budget Deficit Business Corruption Crude Economy of India India Wed, 07 Dec 2016 16:20:02 +0000 Tyler Durden 579907 at