New York City
With massive strikes in France and now drivers shooting passengers, Uber is making headlines everywhere. While some might say any publicity is good publicity (and any disruption is good disruption), for the firm valued at $50 billion (with a stunning operating loss of $470 million and revenues of only $415 million) perhaps there is a limit to both press and disruption...
Having concluded last night that Puerto Rico debt is "unpayable," and that his government could not continue to borrow money to address budget deficits while asking its residents, already struggling with high rates of poverty and crime, to shoulder most of the burden through tax increases and pension cuts, Padilla confirmed tonight that: PUERTO RICO TO SEEK "NEGOTIATED MORATORIUM", 'YEARS' OF POSTPONEMENT IN DEBT PAYMENTS. Likening his state's situation to that of Detroit and New York City (though not Greece), Padilla concluded, the economic situation is "extremely difficult," which is odd because just a few years ago when they issued that bond - everything was awesome?
It’s happening. As expected, dynastic politics is prevailing in campaign 2016. After a tease about as long as Hillary’s, Jeb Bush (aka Jeb!) officially announced his presidential bid last week. Ultimately, the two of them will fight it out for the White House, while the nation’s wealthiest influencers will back their ludicrously expensive gambit. And here’s a hint: don’t bet on Jeb not to make it through the Republican gauntlet of 12 candidates (so far). After all, the really big money’s behind him.
How can it be implied that the markets are too fragile to deal with an unexpected raise of interest rates to (gasp) 1/4 of 1%, if all the “data” we were told (or sold) has been showing signs of all this “improvement?” The question still remains: How does any Ivory Tower prognosticator, or Wall Street talking head, square all these circles? Simple – they don’t. They just act as if it they didn’t or won’t happen. Or, just continue to act as if we’re too dumb to answer. This is complacency, idiocy, and more – all turned up to 11!
El Al Israel Airlines Flight #7 bound for New York City (from Tel Aviv) has, as AirLive.net reports, U-turn'd abruptly as it entered The Atlantic and appears to be heading back to Israel. Some details are being reported that there is a problem with one engine...
"...a bigger bundle of platitudes and insincerities has not been served up since the heyday of Nixon. As the politicians are so fond of saying these days, make no mistake, Hillary is the New Nixon."
- Tsipras Hardens Greek Stance After Collapse of Talks (BBG)
- Obama Fights to Save Trade Bill (WSJ)
- German Stock Market Pain Seen Just Beginning Should Greece Exit (BBG)
- Russia to boost forces in western flank if U.S. stations arms in east Europe (Reuters)
- Lab Nears Settlement Over Pricey Medicare Drug Tests (WSJ)
- China's $358 Billion in Margin Loans Points to Next Bear Market (BBG)
- Draghi Faces EU Court Ruling on 2012 Bond Plan as Greece Teeters (BBG)
- Sex, lies and debt potentially exposed by U.S. data hack (Reuters)
For months, Hillary Clinton kept radiosilence unsure how to best address and respond to numerous accusations of impropriety involving the Clinton foundation, the "cash-for-speeches" fiasco, the various email scandals and countless other public issues that have dogged her second presidential campaign. Moments ago, she reappeared and is rolling out her 2016 presidential campaign with a speech at Roosevelt Island in New York City. Watch it live below.
Welcome to the Recovery! Food banks across the US state of New York are running out of food (37% of food pantries say they have had to turn away needy people because they ran out of food), amid falling funds and rising demand from people that have trouble affording food. About 2.6 million people have trouble affording food across New York with about 1.4 million New York City residents relying on food pantries to feed themselves, according to the Food Bank For New York City. But as PressTV reports, contrary to the belief that people visiting food pantries are homeless and jobless, most customers are employed, but are not paid enough money to put food on the table without help.
As We Show In This Updated List, You’re Much More Likely to Be Killed By Brain-Eating Parasites, Toddlers, Lightning, Falling Out of Bed, Alcoholism, Food Poisoning, Choking On Your Meal, a Financial Crash, Obesity, Medical Errors or “Autoerotic Asphyxiation” than by Terrorists
The infestation of cowardice, anti-intellectualism and fear has permeated almost every nook and crany of American life, including academics. So much so, that a college professor has just penned an article titled: I’m a Liberal Professor, and My Liberal Students Terrify Me. Even more worrisome, he felt the need to write it under a pseudonym due to the fear of backlash... This is more or less how politics functions in the U.S. today. Fake and superficial narratives take position at center stage, while the really big existential issues are never addressed, or merely brushed under the rug.
Mysterious cartoons mocking “Goldman Rats” and Hillary Clinton are appearing all over NYC...
If U.S. equities feel brittle, they should. Yes, central bank liquidity from Japan and Europe may well push global equity markets higher. But what we really need is a pullback – that classic 10% correction that flushes out weak hands, reestablishes the discipline of “Risk” in the “Risk-Return” equation, and shows capital markets how to do more than just follow central bank liquidity. So watch June’s price action in U.S. stocks very carefully, because this process needs to start now. The bull market that began in March 2009 is now an ancient bovine indeed. After all, better 10% now than 20% or more later in the year. The first is inconvenient. The second is unwelcomed.
The racially charged protests and demonstrations that have swept the country as a result of perceived police misconduct involving African American “suspects” has created what St. Louis police chief Sam Dotson calls “The Ferguson Effect”, whereby law enforcement are now more reluctant to use force to counter illegal activity for fear of prosecution or, more poignantly, for fear of finding themselves cast as the villain that catalyzes widespread civil unrest.
The emperor has no clothes: there are markets (finance included) screaming out for disruption!