Boeing

Another Bubble Pops: Used Boeing 777 Sells For 97% Off List Price

Ten days ago, Delta CEO Richard Anderson sent shockwaves through the aviation industry when he announced he had just purchased a used Boeing 777 for the paltry price of $7.7 million. Here is the punchline: Boeing’s list price for a new 777-200ER is $277.3 million, meaning Delta is buying a used 777 at a price 97.2% lower than the value of a new 777.

Whistleblower Exposes Exactly How The Government Spies On Your Cell Phone

A new whistleblower has leaked a catalog of cell phone surveillance devices used by the military, intelligence agencies, and local police departments, including the controversial ‘Stingray’ spying tool. At this point, it’s painfully obvious that America is the home of the Police-Surveillance State. Privacy is a dying notion in a nation of fools determined to be safe rather than liberated. If you give a damn, now is the time to stand up and be heard.

Futures Jump After Friday Drubbing, Despite Brent Sliding To Fresh 11 Year Lows, Spanish Political Uncertainty

In a weekend of very little macro newsflow facilitated by the release of the latest Star Wars sequel, the biggest political and economic event was the Spanish general election which confirmed the end of the PP-PSOE political duopoly at national level.  As a result, there was some early underperformance in SPGBs and initial equity weakness across European stocks, which however was promptly offset and at last check the Stoxx 600 was up 0.4% to 363, with US equity futures up nearly 1% after Friday's oversold drubbing. In other key news, the commodity slide continues with Brent Oil dropping to a fresh 11-year low as futures fell as much as 2.2% in London after a 2.8% drop last week.

Global Stocks, Futures Continue Surge On Lingering Rate Hike Euphoria

Heading into the Fed's first "dovish" rate hike in nearly a decade, the consensus was two-fold: as a result of relentless telegraphing of the Fed's intentions, the hike is priced in, and it will be a "dovish" hike, with the Fed lowering its forecast for the number of hikes over the next year. Consensus was once again wrong on both accounts: first the rate hike was far more hawkish than most had expected (see previous post), and - judging by the surge in Asian, European stocks and US equity futures - the "market" simply is enamored with such hawkish hikes which will soon soak up trillions in liquidity from the financial system.

Futures Surge, Oil Rebounds As Fed Starts Historic Two-Day "Rate Hike" Meeting

The start of the Fed's most eagerly awaited two-day policy meeting in years has finally arrived with the market expecting Yellen to announce the first 25 bps rate hike in 9 years tomorrow with nearly 80% probability, and so far US equity futures are enjoying a last minute relief rally, while emerging market stocks rose for the first day in ten after the longest losing run since June. Europe's Stoxx 600 Index has also rebounded from a five-day losing streak, the worst in over four months.

Is ISIS Simply A "Saudi Army In Disguise"?

What stinks in Saudi Arabia ain’t the camel dung. It’s the monarchy of King Salman and his hot-headed son, Prince Salman. For decades they have financed terrorism under a fake religious disguise, to advance their private plutocratic agenda. It has nothing to do with religion and everything to do with money and oil. Saudi control of that oil wealth (from Iraq to Syria) via their ISIS agents, along with her clear plan to take out the US shale oil competition, or so Riyadh reckons, would make the Saudi monarchy a vastly richer state.

"Outing" The Over-Confidence Of Our Central Bank Overlords

Confidence in central bankers is now hanging by a thread. Mario Draghi (and his fellow Goldman Sachs alum Mark Carney at the Bank of England, for that matter) might want to adopt a little humility before that thread snaps completely. It is always tragic when we filthy peasants stop banging rocks together momentarily to listen to the awe-inspiring intellects at the central banks, only to misunderstand them. Perhaps the real problem is one of overconfidence. Not our overconfidence. Theirs.

An Open Letter Calling For The Resignation Of Saudi-Sympathizing Politicians

"...Should you continue your flagrant support of Saudi Arabia by way of foreign aid and weapons sales, you are no longer to be trusted to hold an elected position of influence. You should therefore resign, effective immediately. The question is: Is your allegiance to the people of the United States, or are you beholden to another kingdom?"

Thanks ISIS: We "Can't Keep Up With Surging Weapons Demand", Pentagon Says

With many suggesting the world, already gripped in a global terrorism frenzy courtesy of the CIA-created "Islamic State", is on the verge of World War III (and with a NATO power bringing down a Russian fighter jet for the first time in over 60 years one can see where they get that idea) the result has been an unprecedented surge in demand for mode n weapons of all shapes and sizes... made in the US. Demand so high, in fact, that the US simply can't keep up: "It's worldwide. The demand signal is coming in Europe, in the Pacific and in Centcom." 

 

Durable Goods Orders Signal Recession With 7th Consecutive Drop

For the 7th month in a row, Durable Goods New Orders fell year-over-year (down 1.0%). This has not occurred without a recession. While MoM the headline number rose 3.0% (beating the 1.7% rise expected), it appears driven by another one-off surge in Boeing plane orders as Capital Goods Shipments Ex-Air fell 0.4%. Finally, the inventory to shipments ratio re-accelerated in October, back near cycle highs.