Just a few short weeks away, the opening ceremony of the Sochi Winter Olympic may go off with a bang, literally, judging by the amount of "terrorist" chatter surrounding the games. Today however, it is more than just chatter: earlier the Russian media reported that Russian security forces had come across multiple unexplained deaths and explosive devices in a region near Sochi, resulting in an aggressive "anti-terrorism sweep."
In the first step towards President Obama's income inequality fight, he is unveiling "Promise Zones" today... we can't wait to hear this one..."Promise Zones are a new way of doing business,” the administration official said. “They will be led by local community leadership working toward a common goal … supported by the federal government.” Participants will get priority for federal grants and help applying from an array of agencies. Wonderful, sounds great - how are we paying for that again?
New Jersey Governor Chris Christie has expressed how "outraged and deeply saddened" he is by the revelations that a lone-shooter in his team would close highway lanes to exact political retribution against anyone. In the tradition of the current White House, he saw/knew/heard nothing of course. Things just escalated a little more...
*US ATTNY IN NJ TO OPEN INQUIRY INTO LANE CLOSURES, NYT SAYS
*N.J. GOV. CHRISTIE SAID TO FIRE TOP AIDE BRIDGET KELLY:NY POST
We can only hope that the 'briefing' includes a Q&A as the always fiery Christie will, we are sure, come out swinging.
I tried to create a “Kudos List” as well but really couldn’t.
On a satellite interview from Pyongyang, North Korea, former NBA player Dennis Rodman 'lost it' this morning with the anchor from CNN's "New Day" show. Describing his (and his team's) visit to North Korea as a "great trip for the world," Rodman started to get frustrated when questioned about whether he will use the opportunity to speak about Kenneth Bae, an American citizen who has been held in North Korea. "Do you understand what he did?" Rodman exclaimed, "You tell me! You tell me! Why is he held captive?" Having described Kim Jong Un as a "friend for life," Rodman went on to tell the CNN anchor, "I don't give a rat's ass what you think." Ah, the new normal diplomacy. We wonder if Kim's uncle also described him as a 'friend for life.'? As WaPo reports, The White House is not happy.
White House Guides Down Obamacare Enrollment Target, Says To Focus On Demographics; Refuses To Give Demographic DataSubmitted by Tyler Durden on 01/06/2014 20:13 -0500
“That was never our target number. That was a target that came from the Congressional Budget Office, and it has become an accepted number. There’s no magic to the 7 million. What there is magic to is that in the month of December a million Americans signed up for insurance.”
– White House aide Phil Schiliro, interview on MSNBC, Dec. 31, 2013
A look at the technical condition of the fx market, interest rate differentials, central bank developments and the data due out in the week ahead.
The resilience that has long been one of America's remarkable traits was on display in 2013. Not only did businesses create 2 million jobs, but the struggling economy actually grew and profits and stock prices soared to near-record levels. Still, five years into the Obama presidency, the economy is grossly underperforming. Contrary to the dominant media narrative, it's not bad luck or the financial crisis to blame, but bad policies — from the $860 billion "stimulus" that didn't stimulate to the Dodd-Frank financial reform that killed lending. Last year was a challenging one for entrepreneurs and other productive Americans. No fewer than 13 new taxes were put into place. Big government now consumes one of every four dollars of our GDP and is getting bigger. Entering 2014, we face problems, including taxes and spending, that neither the White House nor Congress is addressing. In the following charts, we look at a few of the more alarming and intractable ones.
As the New Year brings the actual implementation of Obamacare, it appears in reality things are not as great as many were promised. A recent Gallup survey found that only 7% called their Obamacare experience "very positive" with a stunning 29% seeing it "very negative." But as The Daily Mail found, from Northern Virginia hospitals turning away sick people because they can't determine whether their Obamacare insurance plans are in effect to high deductibles and long waits for authorizations; as many as one-third of the administration's claimed 2.1 million enrollees remain unsure of their coverage. The 'lie of the year' in 2013 may be even bigger in 2014.
Obamacare officially went live at midnight. This means that 2.1 million Americans will be given a chance to exercise their new plans at hospitals and clinics across the country. And then the real glitches will begin. We reported two weeks ago that navigating the healthcare.gov labyrinth successfully and "signing up" for Obamacare is one thing; actually activating coverage by making a payment is something totally different. We added that "if people don’t pay by Dec. 31, insurers may end up stuck with a disproportionate number of sicker and costlier customers." It is this "shock" realization that one's Obamacare plan is not active until after the healthcare service has been rendered, that may hit as many as 50% of all enrollees, which means that of the 2+ million Americans who believe they have coverage, up to 1 million is about to be served with a bill which they can't afford.
As usual, in 2013, sticking to facts was a mistake in a world fueled by misinformation, propaganda, delusion and wishful thinking. Those in power have successfully held off the unavoidable collapse which will be brought about by their ravenous unbridled greed, and blatant disregard for the rule of law, the U.S. Constitution and rights and liberties of the American people.
"There is no disputing the facts. The economic situation is deteriorating for the average American, the mood of the country is darkening, and the world is awash in debt and turmoil. Every country is attempting to print their way to renewed prosperity. No one wins a race to the bottom. The oligarchs have chosen a path of currency debasement, propping up insolvent banks, propaganda and impoverishing the masses as their preferred course. They attempt to keep the masses distracted with political theater, gun control vitriol, reality TV and iGadgets. What can be said about a society where 10% of the population follows Justin Bieber and Lady Gaga on Twitter and where 50% think the National Debt is a monument in Washington D.C. The country is controlled by evil sycophants, intellectually dishonest toadies and blood sucking leeches. Their lies and deception have held sway for the last four years, but they have only delayed the final collapse of a boom brought about by credit expansion. They will not reverse course and believe their intellectual superiority will allow them to retain their control after the collapse.”
"It's going to put my family and me out on the streets," is a perspective shared by many of the 1.3 million Americans about to lose their emergency unemployment claims. The program, started during the recession, was intended to help jobless people after they exhausted state benefits, typically lasting six months. House Republicans resisted continuing the benefits without budget cuts elsewhere to cover the cost. As Bloomberg reports, opponents say the extended benefits discourage the unemployed from accepting jobs and that the program should be curtailed, given the recovery in the nation’s labor market.This has profound implications for the oh-so-important unemployment rate that the Fed is so dependent upon...
Even Before 9/11, NSA Knew In Real-Time Which Countries Both Parties to Phone Calls Were In
The latest overnight meltup which has pushed the DJIA and S&P to new implied record opens has been driven by, what else, the falling Yen, which after tumbling to fresh new 5 year lows following the release of the BOJ minutes (which said nothing new), has sent both the Nikkei higher by 1%, to post-2008 highs of 16,174, while the S&P, up about 5 points just shy of 1840, and has only three trading days in which it should close the gap to the central banks' price target of 1900 as we first showed in April. In the absence of any actual newsflow (we now live in a world in which both good and bad news are P/E multiple beneficial, just continue keeping an eye on the EURJPY and the USDJPY - these are the only two signals tht matter for the market.