"...my greater source of personal concern, outrage... is focused upon an American political elite that have shipped middle class and working class jobs away from Baltimore and cities and towns around the US... plunged tens of millions of good hard-working Americans into economic devastation... in order to control an unfairly impoverished population living under an ever-declining standard of living and suffering at the butt end of an ever-more militarized and aggressive surveillance state."
Nobel Peace Prize-Winning President & Pacifist-Nation Japan PM Explain New Military Assertiveness - Live FeedSubmitted by Tyler Durden on 04/28/2015 12:04 -0400
President Obama and Japanese PM Shinzo Abe are set to explain how great the TPP is and how the renewed military assertiveness is 'peaceful'...
Greece must pay $3.8 billion to the IMF over the course of the next month and most analysts believe they will not be in a position to do so unless they can access the outstanding $7.2 billion in funds that form part of the existing program. Ukraine have also been flirting with a default.
An inauspicious start to China's local government debt swap initiative has the PBoC scrambling to determine the best way to facilitate the successful issuance of new municipal securities as several provinces have reportedly canceled or delayed offerings. Now, the question is whether Chinese LTROs will be enough, or whether outright QE will ultimately be the only option.
- Maryland Governor Calls in National Guard to Control Baltimore Riots (BBG)
- Fed Seen Delaying Liftoff to September to Push Down Unemployment (BBG)
- Nepal PM says toll could rise to 10,000 (Reuters)
- China Readies Fresh Easing to Tackle Specter of Debt (WSJ)
- ‘Damned Lies’ Threaten to Overshadow U.K. GDP in Election Fight (BBG)
- Uncertainty Over Impact of a Default by Greece (NYT)
- Why the Cost of Hedging European Banks Stocks Has Soared (BBG)
- Carinthia cash crunch gives Austria its own mini-Greece (Reuters)
Following yesterday's early MNI rumor that a Chinese QE is being "considered" and which sent the Shanghai Composite surging 3% and led to an initial boost in US stock futures, overnight the PBOC scrambled to once again deny such speculation. Of course, going full "cold Turkey" on Chinese stimulus would be too much for the market to handle, so in a piece by the WSJ also released overnight, the author said the PBOC would pivot from outright QE to mere LTRO, which is also not new and was reported over a week ago here in "China Floats QE Trial Balloon, PBoC May Launch LTROs." In any event, for now at least, Asian stocks are not happy despite Apple's latest blockbuster results, and neither is Europe, with the Stoxx 600 down 1%, and even the E-mini is hugging 2100 unable to levitate on any imminent central bank intervention.
Those who lived through the last two speculative blow-off tops know the impossibility of predicting the final top. How can we tell if stocks are in the final blow-off stage of a bubble? There are four basic give-aways...
We are paying a high price for too many elites and their ‘frivolous cravings’. Nowadays many countries’ social and political structure relies on debt-driven consumption and increasing levels of entitlements. Blame the policy-makers as the “permanent lie [has become] the only safe form of existence.”
As we recently noted, the US government is in the process of launching an all-out war on truth. Those who express views contrary to the party line out of Washington will be labeled a threat. But Washington's propaganda isn't working at all well in the rest of the world, be it Russia or China or Latin America. In all of these places, Washington's message control has more or less failed. This is why the people in Washington are in a bit of a panic, and labeling internal dissidents as a “threat” is just them flailing in search of an answer. They can't stop lying, and they can't even pretend to rule the world if everyone knows that they are lying, so their only option is to try to squelch every voice except their own. They may succeed at this within the US (some would say they already have) but as far as the rest of the world - good luck!
"How the agency obtains GDP figures is 'anybody’s guess,'" one economics professor tells WSJ, referring to the ambiguity surrounding China's official GDP data. Amid a worsening economic situation which includes industrial production data that doesn't match up to the headline GDP figures coming out of Beijing, analysts weigh in with their own projections for how the world's economic growth engine is really performing.
Moments ago AAPL reported Q2 earnings for the quarter ended March 31, 2015 which saw AAPL beat soundly on the top and bottom line as as result of a jump in iPhone sales, even as iPad and Mac sales came in below the expectation. EPS was $2.33 vs consensus $2.16, while revenues came in at $58.0 billion, $2 billion higher than the $56.0 billion expected. But while the operations were impressive if China and iPhone centric, what everyone is focusing on is the AAPL news that it once again expanded its buyback program en route to hitting the Goldman forecast of a record $900 billion in 2015 for the entire S&P500, by announcing it would boost its buyback authorization by more than 50%, from $90 billion to $140 billion.
If the DOJ and CFTC is going to be consistent, then they have to indict the entire financial community from the CME, Exchanges, Brokers, Institutions, Investment Banks, Hedge Funds, Management Funds and High Frequency Trading Firms.
Biotech stocks have been surging since their mid-March plunge (back below the 50DMA), but it appears that is at an end as XBI - the SPDR Biotech ETF - is now down almost 7% from Friday's highs on heavy volume (and back below the 50DMA once again). This is a major problem as if China QE can't keep the weathe creation dream alive, what will?
Following meetings with Sec. of State John Kerry, Defense Sec. Ashton Carter, Japanese officials, it appears, have been shown the endgame now that the Keynesian farce is over... As AFP reports, Japan’s military to take on more assertive role, according to Japanese officials as Japan and US bolster their alliance for the first time in 18 years. Noting the alliance "serves as the cornerstone of peace in AsiaPac," and that the Senkakus will fall under protection of this new treaty, we suspect the Chinese will have more than a few things to say about this.