• GoldCore
    07/30/2014 - 18:58
    “But long term...and economic law says, if you keep printing a lot of paper money, the value of the dollar and currency will go down, and things and most prices will go up and indeed gold always goes...

Tyler Durden's picture

Obama Sued: House Authorizes Lawsuit Against President With 225-201 Vote





Argentina defaults; Russia, Ukraine, Libya, Israel, Gaza, Iraq all in a state of (hot or otherwise) war, the worst Ebola epidemic in the history of Africa, and now Obama is getting sued.

 
Tyler Durden's picture

Why The 10Y Yield Is Heading To 1.5% In 1 Simple Chart





The question of whether 'tapering is tightening' is often discussed but what is really meant is - when the Fed tapers, will risk assets suffer (and bonds benefit)? The answer is - yes. As Gavekal finds, long-dated US government bonds are following the reduction in QE nearly perfectly so far. The link between Fed asset accumulation and these various bond yields is unmistakable, especially for longer duration bonds, and this simple model shows how even lower bond yields may be in the offing as the Fed puts on the breaks. For junk bonds, this seems to portend higher spreads, which may help to put the recent widening of spreads in context.

 
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Ebola Epidemic Update: US Citizen Dies In Nigeria, Virus Poses Threat To Britain, Liberia Declares State Of Emergency





  • State Department has confirmed that one U.S. citizen died from Ebola in Nigeria after being infected in Liberia. 
  • Victim who died in Lagos was bound for U.S., and was an American citizen
  • U.K. Foreign Secretary Philip Hammond said the virus poses a threat to Britain, and will hold an emergency meeting.
  • Ebola center run by Americans closed after Liberia disturbances
  • Two Peace Corps volunteers under observation after coming into contact with individual who later died of Ebola
  • Sierra Leone’s top Ebola doctor dead after contracting virus
 
Tyler Durden's picture

Our Totalitarian Future - Part 2





Huxley’s Brave New World dystopian America had a good run from 1950 until 2000. Our keepers kept us fat, dumb, distracted, and in debt up to our eyeballs. Since 2000 Orwell’s 1984 dystopian Surveillance States of America seems to be taking shape, under the watchful eye of our very own Big Brother, the NSA. Fear, punishment, slogans (See Something Say Something) and appeals to non-thinking patriotism have replaced freedom, liberty, individual rights, the Constitution, personal responsibility for our own lives and questioning authority. Are you a believer? “One believes things because one has been conditioned to believe them.” – Aldous Huxley – Brave New World; Or a truth seeker? “You shall know the truth and the truth shall make you mad.” – Aldous Huxley

 
Tyler Durden's picture

Argentina Defaults





It's all over but the crying: having explained Argentina's position (i.e. not giving to so-called vulture funds), Economy Minister Kicilloff explains:

  • *KICILLOF SAYS HEDGE FUNDS NOT WILLING TO GIVE DELAY ON RULING
  • *KICILLOF SAYS HARD TO BELIEVE ARGENTINA IN DEFAULT IF HAS FUNDS
  • *KICILLOF SAYS ARGENTINA CAN'T COMPLY WITH COURT RULING
  • *HOLDOUTS DIDN'T ACCEPT ARGENTINE OFFER: KICILLOF

As Bloomberg notes, by defaulting today, Argentina may trigger bondholder claims of as much as $29 billion -- equal to all its foreign-currency reserves. Just remember that the last 2 days have seen 'smart money' buy Argentine bonds and stocks to all-time record highs.

 
Tyler Durden's picture

Thank You Obamacare - California Health Insurance Costs Spike Up To 88% In 2014





If you like your disposable income... forget it. Health-care insurance premiums for individuals in California rose between 22% and 88% in 2014 from last year, even after the federal health-care overhaul. This has led, as Bloomberg reports, to Proposition 45 - a bill that would grant regulatory say on proposed premium increases. "Unless Proposition 45 is passed we are going to continue to see dramatic year-over-year increases," warned Insurance Commissioner Dave Jones.

 
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Profile Of A Sanctioned Russian Billionaire: Putin's Judo Coach





Fortune has smiled on judo coach Arkady Rotenberg, bringing his businesses Google-like growth and a key role in staging the Winter Olympics. It has now brought down on him the wrath of the U.S. and European governments.

 
GoldCore's picture

"Gold Could Go To Infinity" - Ron Paul





“But long term...and economic law says, if you keep printing a lot of paper money, the value of the dollar and currency will go down, and things and most prices will go up and indeed gold always goes up against that currency” - Ron Paul

 
Tyler Durden's picture

3 WTF Charts





Something doesn't add up...

 
Tyler Durden's picture

Foreign Secretary Warns Russian Sanctions "Will Hit UK Economy"





More blowback... UK Foreign Secretary Philip Hammond suggests imposing sanctions on Russia are a shared sacrifice that European nations must make. While the sanctions were "designed to maximize the impact on Russia and minimize the impact on EU economies," he warns his fellow Britons that, "It will affect our economy..." As RT notes, London will likely be hit hardest among the EU powers because of its intimate financial relationship with Moscow and we are already seeing UK home prices fall as oligarch flows slow.

 
williambanzai7's picture

LiaR IN The HoLe!





This is Zero Hedge Town!!!

 
Tyler Durden's picture

Social Media Is Making People Dumber, Fears Elliott's Paul Singer





Ask yourself the following set of questions: Do people seem better informed today in the developed world? Smarter? Is the discourse more sophisticated? The answer is a resounding “no” to all those questions... In the absence of [a basic ground in history, political science, philosophy and civilization], all of these Twitter and Facebook bits alight on a population that lacks the tools to sort or analyze what they are reading while scrunched over their Androids... This overabundance of information and opinion is not a positive development in our view (although we are certainly not suggesting it be curtailed or controlled by governments).

 
Tyler Durden's picture

Deal Or No Deal? Argentina Declared In Selective Default, Holds Press Conference - Live Feed





After an exuberant day in Argentine bond and stock markets, we are nearing a decision. With a handful of hours left until it's all over, various 'deal's have been proposed today from Argentine bankers as a last-minute rescue package. S&P has already decided that it's a done deal:

  • *ARGENTINA CUT TO SD FROM CCC- BY S&P
  • *ARGENTINA DEFAULTED ON $13B IN FOREIGN DEBT, S&P SAYS
  • *ARGENTINA MISSED $539M BOND PAYMENT, S&P SAYS

And now, Argentine Economy Minister Axel Kicillof will speak in a press conference at country’s consulate in Manhattan (ironically a block from the holdouts' office).

 
Tyler Durden's picture

Whole Foods Discovers Stock Buybacks, And It's Too Little Too Late: Stock Tumbles Again





Whole Foods management seems to have read our lament and acted accordingly. On the chart below see if you can figure out which is the company's quarterly stock repurchase and capex activity without peeking at the legend.

 

 
Tyler Durden's picture

Portuguese Regulator Bans Short-Selling After Banco Espirito Santo Unveils Massive $5 Billion Loss





Having waited until after the US equity markets closed, Portugal's troubled Banco Espirito Santo unveiled an enormous EUR 3.577 Billion loss - that is 15 times larger than the loss the bank suffered a year earlier. The data  - to end-June, before the crisis really got going - already shows notable deposit flight, a 73.1% plunge in banking income, and a EUR 3 billion collapse in repoable assets (i.e. liquidity). On the heels of this Portugal's securities regulator has enforced a short-selling ban on BES... we suspect they would not have done that if all was systemically well in Portugal.

 
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