When Iran "Deal" Falls Apart, The Pentagon Is Ready: America's Most Destructive "Bunker Buster" Gets An UpgradeSubmitted by Tyler Durden on 04/04/2015 19:02 -0400
As the world awaits the outcome of next Iran "deadline"- the June 30 conclusion of the finalization of the Iran deal - the US is already hedging its bets. According to the WSJ, the Pentagon has "upgraded and tested the largest bunker-buster bomb in the U.S. arsenal, senior U.S. officials said, readying a weapon that could destroy or disable Iran’s most heavily fortified nuclear facilities should a nuclear deal fall apart and the White House decide to take military action."
Germany has been kind enough to provide an idea where the foundering Greek "radical leftist" government can find some additional funds: by freezing and raiding the bank accounts of wealthy Greeks. Of course, the legal loophole provision is that only those suspected (not convicted) of tax fraud would be eligible for such an asset freeze, however since in Greece virtually nobody pays the amount of tax they should, this is essentially a carte blanche to freeze and raid the funds of the wealthiest Greeks who have bank accounts in Germany (and soon in all other European nations) no questions asked.
With a long weekend upon us, ConvergEx's Nick Colas takes the opportunity to wax a bit philosophical. The question for the day: "How do you survive middle age while working on Wall Street?" After polling a few friends of a similar vintage to his own 25 year history on the Street, he has come up with a Top 10 list of dos and don’ts. The key take away from all these thoughts is pretty simple – the journey never stops, so keep investing in yourself, your friends, and your allies. These may not guarantee success, but ignoring them surely leads to failure.
From little black dresses to big white pussies; Fashion designer and photographer Karl Lagerfeld claims his chic cat, named Choupette made $3.22 million last year from just two modeling gigs. Unbelievable, perhaps; but as the insanely wealthy Lagerfeld explains, "she is the center of the world. If you saw her, you would understand."
With the Fed supposedly steeling itself at last to remove a little of its emergency ‘accommodation’, it has suddenly become fashionable to warn of the awful parallels with 1937 as an excuse The Fed must not act today. We strongly refute the analogy. Instead, the real Ghost of ’37 takes the form of mean-spirited and, counter-productive 'pitchfork populism' politics and the spectre should not be conjured up to excuse the central bank from further delaying its overdue embarkation on the long road back to normality and policy minimalism.
Following Thursday's H.4.1 update by the Fed, is that, inexplicably, in the week ended April 1, the amount of Treasurys held in custody by the Fed jumped by the most ever, or $63 billion in one week, to $2.963 trillion.
The root of support for the drug war is simply this: trust in government. Unnecessary, irrational, and naive trust in government. The war on drugs is a war on individual liberty, private property, limited government, the Constitution, American taxpayers, personal responsibility, the free market, and a free society that has ruined more lives than drugs themselves. Every facet of government that contributes in some way to the monstrous evil that is the war on drugs should be dismembered, root and branch, and cast to the four winds.
Auto ABS has "dominated" new consumer issuance YTD and $7 billion in new subprime supply suggests buyers are generally oblivious to worsening credit profiles. Is this a good time to pledge a devaluing asset to buy an overvalued asset?
Considering several recent contentious situations in Ferguson (Michael Brown) and New York (Eric Garner), and judging from recent events in Germany and Canada, it appears the Department of Homeland Security is intent on enhancing its ability to bring unruly crowds under control, so if you are a “less lethal” munitions supplier, you may want to check out the business opportunity the government has for you.
"...the deterioration in both economic data and profitability data leave a good bit of cause for near-term concern..."
When discussing the Iran "deal" which isn't a deal, but merely a " Joint Comprehensive Plan of Action", there are two key things one must keep in mind: the location of Iran's nuclear facilities and its oil infrastructure. Here is a quick take on both.
California's oil and gas industry is estimated (with official data due to be released in coming days) to use more than 2 million gallons of fresh water per day; so it is hardly surprising that, as Reuters reports, Californians are outraged after discovering that these firms are excluded from Governor Jerry Brown's mandatory water restrictions, "forcing ordinary Californians to shoulder the burden of the drought."
As the market ponders how quickly an Iran nuclear deal and subsequent lifting of sanctions will affect crude prices, record production in Iraq leaves 5% of the world's tanker fleet parked in the Persian Gulf.