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Does Not Compute: DOL Continues To Paint Rosy Jobless Claims Picture As Challenger Sees "Surge" In Unemployment

Does not compute. That may be the best way to summarize the discrepancy between the statistically-massaged, seasonally-adjusted initial claims data reported by the DOL, and what Challenger reported just an hour earlier when it said that U.S.-based employers announced plans to shed 58,877 in September, a 43 percent increase from the previous month. Worse, for 2015 YTD, employers have announced 493,431 planned layoffs, 36 percent more than the 363,408 cuts tracked from January through September a year ago. Someone is lying.

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USDJPY Tumbles, Drags Futures Lower, After BOJ Said To See "Little Immediate Need" For More QE


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Frontrunning: October 1

  • After Rough Quarter, Investors Buckle Up (WSJ)
  • From heroes to bystanders? Central banks' growth challenge (Reuters)
  • Russian Airstrike in Syria Targeted CIA-Backed Rebels, U.S. Officials Say (WSJ)
  • Kremlin says Syria air strikes target list of groups, not just Islamic State (Reuters)
  • That’s information warfare? Russia accused of killing civilians in Syria (RT)
  • Euro zone factory growth eases in August despite modest price rises (Reuters)
  • How Glencore's Crazy Month Makes Greek Banks Look Tame (BBG)
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Economics 101 Strikes Again As Wal-Mart Wage Hikes Prompt Breadwinner Layoffs At Headquarters

"Please remember, these people are our neighbors and friends. You have a skill that will be very much in need when this goes down. You are experts in the job market and you know what it takes to get hired. This is a time for us to step up and do what we can to help."

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Fourth Quarter Begins With Global Stock Rally As Bad Economic News Is Again Good

Good news! Bad news is again great for stocks, and overnight we had just the right amount of bad news from Japan, China and Europe to send stocks surging on the first day of the final quarter.

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This Is What £500 In Rent Gets You In London

Nope, no bubble here at all... "I have literally just been shown a bed under the stairs for £500 a month... F You London!"

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Overheard At The Pentagon: "Right Now, We Are Putin's Prison Bitch"

Now, the only thing left to do is either stand down and let Moscow do as it pleases in support of the Assad regime, or else get on board and acquiesce to the inevitable...

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State Makes It Legal To Shoot Cops In Self-Defense If They Violate Your Rights

Is it ever legal to shoot cops? A growing number of states are passing laws that say that yes, in fact, sometimes it is well within a citizen’s rights to shoot a police officer.

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Futures Soar After Chinese Composite PMI Drops To Lowest On Record

While the official "data" was bad, and confirmed the economy remains in contraction, the Caixin - aka the new HSBC - Markit PMIs were absolutely atrocious. We bring you... the HSBC Manufacturing print, which dropped from 47.3 to 47.2, and which according to Caixin was the lowest print since March 2009.  And it was the combination of this and the non-mfg PMI that told the full tale: at 48.0, the Caixin Composite index dropped from 48.8, down from 52.3 a year ago and was the lowest print on record.

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New Patch for U.S. Troops Fighting ISIS… Looks Like ISIS Logo

Believe it or not, American soldiers fighting against ISIS in Syria and Iraq will actually be wearing the emblem of ISIS – the infamous crossed-swords logo. Well, almost. Controversy has stirred because many think the patch looks too much like our boys are fighting for the enemy… just another sign of confusion about the counterproductive Obama-led war against the notorious and shamefully exploitative jihadist army.

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A Desperate China Caps Card Withdrawals In Frantic Attempt To Stem Outflows

Now that the yuan deval debacle has served to accelerate capital outflows, Beijing is set to double down on efforts to curb the degree to which capital controls are openly subverted and as WSJ reports, China is has now “put a new annual cap on overseas cash withdrawals using UnionPay.”

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