• EconMatters
    03/04/2015 - 17:16
    The RIG Count has dropped also but this is a misnomer because unlike in ‘old fashioned drilling times’ where one Rig represented One well, now one RIG often represents multiple wells attached to the...
  • 03/04/2015 - 16:46
    What people and central bankers do not understand, is that you can't devalue your way to prosperity. Absolutely nothing has changed since the last crisis. The same too big too fail banks have only...

White House

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Frontrunning: March 5





  • China Lowers Growth Target to About 7% (WSJ)
  • Obesity Is Hurting the U.S. Economy in Surprising Ways (BBG)
  • Embattled Hillary Clinton urges State Department to release emails (Reuters)
  • Washington Strips New York Fed’s Power (WSJ)
  • U.S. Supreme Court split over Obamacare challenge (Reuters)
  • Citigroup Loses $800 Million as It Exits Turkey’s Akbank (BBG)
  • Justice Who Once Tried to Kill Obamacare Now Potential Savior (BBG)
  • Buyers of Espírito Santo Debt Face Financial Uncertainty (WSJ)
 
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Hillary Clinton's "Personal" Emails To Be Subpoenaed





In the aftermath of the revelations that Hillary Clinton had exclusively used a personal email account to conduct state correspondence with diplomatic leaders around the globe and pretty much everyone else, it was only a matter of time before the subpoenas started flying. That time is now and as WaPo reports, the "House investigative committee is preparing to send out subpoenas later Wednesday to gather a deeper look into former secretary of state Hillary Rodham Clinton’s nearly exclusive use of personal e-mails to do her official business as the government’s top diplomat, according to people familiar with the probe."

 
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In "Unprecedented Move" Nobel Peace Prize Chairman Demoted For Decision To Give Obama 2009 Award





In "an unprecedented move", the controversial head of Norway's Nobel Peace Prize committee was removed Tuesday and demoted to the rank of mere member.  Thorbjoern Jagland, a former Norwegian premier, drew criticism after becoming committee chairman in 2009 for awarding the prestigious Nobel to newly elected US President Barack Obama. He will be replaced by current Deputy Chair Kaci Kullmann Five.

 
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Netanyahu's "Don't Deal With Iran" Speech To Congress - Live Feed





Israeli Prime Minister Benjamin Netanyahu will address the US Congress this morning at 11ET to issue a high-profile warning against what he considers an ill-advised nuclear deal with Iran. This brings to a head weeks of tension between Israel and The White House and numerous politicians (including The President) will boycott be absent during Bibi's speech. In what NYTimes calls an 'implicit challenge to Obama', Bibi plans to outline his case for a tougher strategy to stop Iran from obtaining nuclear weapons and to dissect the flaws of an agreement that has been emerging from American-led negotiations; gambling that disclosing compromises the U.S. made in trying to negotiate a nuclear deal with Iran will delay or derail any agreement.

 
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As Jeb Bush Pounces On The Hillary Email Scandal, The Real Winner Is... Goldman Sachs





One person who was obviously delighted by the latest Clinton scandal is her main Republican competitors, Jeb Bush, whose camp on Monday was quick to pounce on the email scandal, while also invoking the farcical IRS Lois Lerner "excuse" that emails were lost due to failed hard drives: "Hillary Clinton should release her emails. Hopefully she hasn’t already destroyed them,” Bush spokeswoman Kristy Campbell said. But while one could ascribe victory to the Florida republican in this latest scrimish, the real victor of this spat between the so-called "left" and "right" is the firm that stand to benefit no matter who wins: Goldman Sachs.

 
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Hillary Clinton's Latest Scandal: Former SecState Exclusively Used Undocumented, Personal Email Account





While the Hillary Clinton campaign seems unperturbed by recent problematic disclosures by Politico into the Hillary Clinton Foundation, the former first lady and current democrat presidential hopeful will have a field day explaining why, as the NYT reported overnight, Hillary - in her role as Secretary of State - "exclusively used a personal email account to conduct government business" according to State Department officials in violation of "federal requirements that officials’ correspondence be retained as part of the agency’s record." Mrs. Clinton did not have a government email address during her four-year tenure at the State Department. Her aides took no actions to have her personal emails preserved on department servers at the time, as required by the Federal Records Act.

 
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Meet The Philly Fed's New President (No, He Didn't Work At Goldman)





With Philly Fed's 10th president, Charles Plosser retiring effective March 1, 2015, algos were wondering if he would be replaced with another former Goldman partner, or if his seat would be filled with yet another academic. The answer, as the Pgilly Fed reported moments ago, is the latter. Meet the new president of the Philly Fed: Patrick T. Harker, 56, currently president of the University of Delaware, former dean of the Wharton School at UPenn, and a member of the Philadelphia Fed's board of directors. His career academic background: Harker has a Ph.D. in civil and urban engineering, a master's degree in economics, and an M.S.E. and B.S.E. in civil engineering from the University of Pennsylvania. Wait, so no econ PhD? There may be some hope yet...

 
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Frontrunning: March 2





  • Hilsenrath: Fed Ushering in New Era of Uncertainty on Rates (WSJ)
  • Is Supreme Court's chief justice ready to take down ObamaCare? (The Hill)
  • Netanyahu arrives in U.S., signs of easing of tensions over Iran speech (Reuters)
  • Nemtsov Murder Fuels Suspicion, Fails to Spur Russia Selloff (BBG)
  • ECB uncomfortable with leading role in Greek funding drama (Reuters)
  • Video shows Los Angeles police shooting homeless man dead (Reuters)
  • Iraq Military Begins Campaign to Reclaim Tikrit (WSJ)
  • How Billionaires in London Use Secret Luxury Homes to Hide Assets (BBG)
 
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Obama Decrees Ban On Ammo For The Most Popular Rifle In America





Previously, the Obama administration attempted unsuccessfully to ban the AR-15. That didn’t work, so now Obama is going after the ammunition. This is yet another example of the war on preppers that is going on all over the nation. Whether you are a gun owner or not, this assault on our constitutional rights should disturb you greatly.

 
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Fed Independence Is A Joke, So Why Not Audit?





Nothing says limited government and separation of powers like a bureaucracy unaccountable to the voice of the people! Then again, Yellen doesn’t care much for democratic oversight. She’s a caricature of Randian libertarianism: someone who wants to do whatever, whenever, without rulers. The problem is Yellen isn’t operating a private railroad company. She’s the figurehead for a government institution created by Congress. If democracy means anything, it’s that voters have some measure of control over political bureaucracies.

 
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The Forgotten War – Understanding The Incredible Debacle Left Behind By NATO In Libya





"In retrospect, Obama’s intervention in Libya was an abject failure, judged even by its own standards. Libya has not only failed to evolve into a democracy; it has devolved into a failed state... As bad as Libya’s human rights situation was under Qaddafi, it has gotten worse since NATO ousted him."

 
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Senate Passes One-Week DHS-Funding Stop-Gap Bill, House Expected To Pass





With just hours to go until The Department of Homeland Security runs out of money at midnight, after failing to pass a longer-term stop-gap funding bill earlier in the evening, the Senate has managed to buy themselves a week before this whole farce is played over again:

SENATE PASSES ONE-WEEK DHS STOPGAP SPENDING BILL

House GOP Aides expect the one-week measure to pass with Democratic support.

 
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What Happens If The Department Of Homeland Security Shuts Down





As soon as tomorrow, the one part of the US government which to many is a manifestation of all that is broken with the current US "big brother" state of pervasive, ubiquitous surveillance and broken immigration policies, the Department of Homeland Security which was created in response to September 11, and which houses the agencies with jurisdiction over immigration law, the U.S. Immigration and Customs Enforcement (ICE), U.S. Citizenship and Immigration Services (USCIS) and U.S. Customs and Border Protection (CBP) may be shut down. Here is what happens next.

 
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From One Non-Profit To Another - Jay Carney Moves To Amazon





As one wit noted, it appears former White House Press Secretary Jay Carney is moving from one non-profit organization to another. As Politico reports, Carney joins Amazon on Monday as senior vice president for Worldwide Corporate Affairs - reporting directly to Jeff Bezos and topping current veteran PR Chief Paul Misener.

 
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