Iceland

Frontrunning: November 25

  • Dollar rally pauses, Italian stocks underperform (Reuters)
  • Retailers Vie for Black Friday Dollars (WSJ)
  • Holiday Price War Intensifies as Wal-Mart, Target Pursue Amazon (BBG)
  • U.S. Pushes Iran on New Measures to Fortify Nuclear Deal (WSJ)
  • Brent and WTI see small gains as end of year approaches (Reuters)

Global Stocks Drop On Poor Earnings, Bond "Bloodbath" Ahead Of US Q3 GDP

S&P futures and Asian stocks were little changed while European shares fell as the global bonds sell-off deepened on speculation major central banks are moving closer to reining in stimulus, while stocks retreated after disappointing results from companies including Amazon.com and AB InBev.

More Confessions Of An Economic Hit Man: "This Time, They’re Coming For Your Democracy"

"Back in my day we were pretty much limited to what we called the third world, or economically developing countries, but now it’s everywhere. And in fact, the cancer of the corporate empire has metastasized into what I would call a failed global death economy. This is an economy that’s based on destroying the very resources upon which it depends, and upon the military. It’s become totally global, and it’s a failure."

Negative Rates & The War On Cash, Part 1: "There Is Nowhere To Go But Down"

As momentum builds in the developing deflationary spiral, we are seeing increasingly desperate measures to keep the global credit ponzi scheme from its inevitable conclusion. Credit bubbles are dynamic - they must grow continually or implode - hence they require ever more money to be lent into existence. As the peak of a credit bubble is reached, all these necessary factors first become problematic and then cease to be available at all. Past a certain point, there are hard limits to financial expansions, and the global economy is set to hit one imminently.

Iceland Sounds Alarm After Largest Volcano Rocked By Big Earthquake Cluster

Six years after the eruption of Iceland's Eyjafjallajokull volcano in 2010 caused the cancellation of more than 100,000 flights across Europe on concern that glass-like particles formed from lava might melt in aircraft engines and clog turbines, Iceland met office raised the alarm after its largest volcano was hit by the biggest tremors since 1977. Katla, named after an evil troll, is in southern Iceland about 140 kilometers (87 miles) from the capital, Reykjavik.

Frontrunning: August 29

  • Central Bankers Spurn Call for Radical Approach at Jackson Hole (BBG)
  • Turkey deepens Syria offensive, at odds with U.S. (Reuters)
  • Another red line: U.S. says clashes between Turkish forces and opposition in Syria 'unacceptable' (Reuters)
  • Iceland Raises Alarm After Largest Volcano Starts to Rumble (BBG)
  • On Syria, Democrats look to deflect the conversation (AP)

Jim Rogers Explains What He Is Doing Before "The Next Time The World Comes To An End"

One week after RealVision brought us the latest Jeff Gundlach interview, in which the DoubleLine bond king explained why he is now "100% net short", on Friday Grant Williams interviewed Jim Rogers, in which George Soros' former partner (the two co-founded the Quantum Fund in 1973), is about as gloomy, warning "the next time the world comes to an end, it's going to be a bigger shock than we expect."

Migrant Problems Still Threaten Europe

The picture drawn by the present migration into Europe may fundamentally undermine the "Refugees Welcome" narrative that dominated news reports last year, but the continent-wide economic ramifications of its effects on a country such as Italy, already subject to considerable political tumult, should not be underestimated.

Delta Suspends All Flights "Due To System Outage Nationwide" With Computer Systems "Down Everywhere"

Delta Air Lines -  the second largest airline in the world - is reporting that all flights have been suspended "due to a system outage nationwide." Social media users have posted photos showing long lines of passengers waiting to check-in at airports. “Our systems are down everywhere. Hopefully it won't be much longer,” Delta Air Lines said in response to a passenger's tweet.

Ireland Jails 3 Top Bankers Over 2008 Collapse... Instead Of Bailing Them Out

By means that could be termed dishonest, deceitful and corrupt, they manufactured 7.2 billion euros in deposits by obvious sham transactions,” Judge Martin Nolan of Ireland said as he convicted three top bankers on Friday for their role in the 2008 financial crisis. They are among the first in the world to be sent to prison for their involvement in the global meltdown eight years ago.