New York City
We believe Ferguson will be seen as a major turning point. The point in which many well-intentioned, but incredibly naive folks in white mainstream America woke up to what we have become. Many people, particularly those in the media, have been willfully ignorant about the destruction of freedom and civil liberties in America. The events in Fergus have taken a gigantic mirror and successfully pointed it squarely at our civil society and the image it has reflected back is one of a horrific, militarized, authoritarian monster. So how did this transformation occur and what does it mean going forward?
We now know the devastation that the Polar Vortex 1.0 caused on a fragile US economy in Q1 - because, it must be the weather, right? and not stagnating wages and over-leveraged consumers. So, it is woth great concern that we report, Accuweather states that Polar Vortex 2.0 will trurn early in the Northeast, "The vortex could slip at times, maybe even briefly in September for the Northeast," crushing the hopes of v-shaped recoveries in US GDP (or will it be different this time?)
Moments ago CNN blasted a headline stating that the US believes there is a new, post-Snowden leaker exposing national security. Why? The reason is the following article that was released a few hours ago by the Intercept, and which is an expose on yet another classified system called Terrorist Identities Datamart Environment (TIDE), in which we read: "The documents, obtained from a source in the intelligence community, also reveal that the Obama Administration has presided over an unprecedented expansion of the terrorist screening system. Since taking office, Obama has boosted the number of people on the no fly list more than ten-fold, to an all-time high of 47,000—surpassing the number of people barred from flying under George W. Bush." And there is Snowden 2.0.
What would a global pandemic look like for a disease that has no cure and that kills more than half of the people that it infects? Let's hope that we don't get to find out, but what we do know is that more than 100 health workers that were on the front lines of fighting this disease have ended up getting it themselves. The top health officials in the entire world are sounding the alarm and the phrase "out of control" is constantly being thrown around by professionals with decades of experience. So should average Americans be concerned about Ebola? If so, how bad could an Ebola outbreak in the U.S. potentially become? The following are 25 critical facts about this Ebola outbreak that every American needs to know...
- New War Risk on Russia Fringes Amid Armenia-Azeri Clashes (BBG)
- Palestinians accuse Israel of breaking seven-hour Gaza truce (Reuters)
- Argentine Default Sours Outlook for Peso as Talks Ordered (BBG)
- Espírito Santo Saga Entangles Swiss Company (WSJ)
- Booming African Lion Economies Gear Up to Emulate Asians (BBG)
- CME Profit Falls as Trading Volume Declines (WSJ)
- Why Recalled Cars Stay on the Road (WSJ)
- London Renters Win in Billionaire Backyard as Prices Soar (BBG)
- Junk-Debt Liquidity Concerns Bring Sales (WSJ)
- Rescuers race to find survivors after 400 die in China quake (AFP)
Americans are so broke...
Nobody in the world loves locking people behind bars as much as Americans do. The US has more people in prison than any other nation on the planet. The US also has a higher percentage of the population locked up than anyone else does by a very large margin. But has all of this imprisonment actually made the US safer? Well, the last time we checked, crime was still wildly out of control in America and for the most recent year that we have numbers for violent crime was up 15 percent. The number of people that we have locked up has quadrupled since 1980, but this is not solving any of our problems.
You’re More Likely to Be Killed By Brain-Eating Parasites, Texting While Driving, Toddlers, Lightning, Falling Out of Bed ...Submitted by George Washington on 07/24/2014 13:36 -0400
... Alcoholism, Food Poisoning, a Financial Crash, Obesity, Dog Bites, Doctor Mistakes or “Autoerotic Asphyxiation” than by Terrorists (Getting Hit By ASTEROID = Even Odds)
For an administration in its sixth year, juggling presidential optics is nothing new. And with some rare exceptions, the public relations team around the president has remained consistently stubborn about refusing to let the never-ending stream of political, economic or international crises affect Mr. Obama’s daily schedule. The current myriad incidents are no exceptions: Moments after making a grim statement about Ukraine on Friday, the president popped into the East Room, where the first lady, Michelle Obama, was holding a mock state dinner for children to promote her Let’s Move nutrition initiative. “My big thing,” he confessed to the kids, “chips and guacamole!” There was plenty of laughter all around.
On an income-adjusted basis, New Yorkers are the most miserable Americans while citizens of Lafayette, LA are the happiest. As MarketWatch reports, based on a Harvard study which 'adjusts' for age, sex, race, income and other factors, the following map indicates where the happiest Americans are (blue/green) and are not (red).
When we broke the story of China's "secret" money laundering into US real estate scheme, we said "So what happens next? Assuming there is the anticipated resulting backlash and crackdown on Chinese banks, which will finally enforce the $50K/year outflow limitation, this could well be the worst possible news not only for Chinese inflation, which suddenly - no longer having a convenient outlet for the unprecedented liquidity formed in the country every month - is set to soar, but also for the ultra-luxury housing in the US. Because without the Chinese bid in a market in which the Chinese are the biggest marginal buyer scooping up real estate across the land, sight unseen, and paid for in laundered cash (which the NAR blissfully does not need to know about due to its AML exemptions), watch as suddenly the 4th dead cat bounce in US housing since the Lehman failure rediscovers just how painful gravity really is." What we forgot to add is that virtually every other financial mainstream outlet would promptly pick up on the story even as the original source back in China took its secrets to the grace. Metaphorically speaking, we hope...
Exactly 50 years ago last month the US Supreme Court ruled on the now famous case of Jacobellis v. Ohio. At stake was whether a French movie with graphic sexual content could be outlawed by the state via its obscenity laws. The court ruled that it could not because the film wasn’t hardcore pornography. How could they tell? In an explanation that has now turned into one of the most famous quotes in court history, Justice Potter Stewart explained that although he could not define exactly what hardcore porn was, “I know it when I see it” Like porn, asset bubbles are also hard to define, but given our economic history, and especially our recent economic history, we know it when we see it, and now we see it everywhere. We all see it. Apparently the only people that don’t see the bubbles are the people creating them.
Now that the World Cup is over, and following last week's global macro reporting slumber (aside for the Portuguese risk flaring episode of course), things pick up quite a bit in the coming week. Here are the key events.
Michael Bloomberg Calls Colorado A "Rural and Roadless" Backwater For Challenging His Gun Control AgendaSubmitted by Tyler Durden on 07/11/2014 15:49 -0400
We've noticed a bizarre trend this year - Northeast establishment politicians attacking the state of Colorado for its own internal decisions. This time, the man who puts his foot in his mouth more than pretty much anyone else, former NYC Mayor Michael Bloomberg, called Colorado “rural” and “roadless” in a recent Rolling Stone article (which has since been pulled, but is supposed to be back up Monday) for the backlash against his gun control agenda from parts of the state.