Financial markets should actually be begging the Fed for a June 25 basis point rate hike, the alternative is going to hurt a lot more...
It is becoming just a little too much of a daily occurrence but instead of a rail freight car crashing, today we see a massive explosion and fire erupt from an oil tanker crash in Detroit... As gas prices remain low, the shift from rail to road will likely increase the frequency of these scenes....
Earlier today, Greek Prime Minister Tsipras was busy not making German friends, following the latest Greek overture to confiscate German assets in response for allegedly unpaid German WWII reparations. “After the reunification of Germany in 1990, the legal and political conditions were created for this issue to be solved. But since then, German governments chose silence, legal tricks and delay. And I wonder, because there is a lot of talk at the European level these days about moral issues: is this stance moral?” Tsipras said and added that "despite the crimes of the Third Reich and Hitler’s hordes, the German debt was written off." As a result Greece is now seeking to recoup German WWII reparations which may amount to as much as 80% of Greek GDP!
Russians view the United States much more unfavorably today than they did during the end of the Cold War era. As you will read about below, an astounding 81 percent of all Russians now view the United States negatively, and only 13 percent have a positive opinion of this country. In all of the years when Russians have been surveyed on their attitudes toward the U.S., they have never been this negative. But of course Americans generally do not view the Russian people unfavorably. Even while most Americans are extremely apathetic about what is going on over in Russia, an increasingly large chunk of the Russian population is angry enough to go to war.
No lesser trustworthy character than Assistant Secretary of State Victoria Nuland explained this morning that the US can "confirm" new Russian weapons delivery to Ukraine and that they "can tell" when Russia sends in new weapons (though offering no explanation of this statement). This comment to the Senate Committee comes a day after the US delivered 'lethal aid' to Latvia - 120 armored units (including tanks) - with US Army General John O’Conner who witnessed the tanks arriving on Latvian soil said, "Freedom must be fought for, freedom must be defended." And finally, one more shot in the eye of the germans, deputy under-secretary of Defense Brian McKeon said the US is "actively considering more weapons for Ukraine," seemingly implying they alreadt sent some?
ISIS launches its own version of FaceBook just as a new report profiles the typical terrorist tweeter.
The Federal Reserve, and now the European Union have set the stage for the biggest collapse in bond markets that will make the sub-prime financial crisis look like a cakewalk
- Dollar at 12-year peak versus euro, emerging markets spooked (Reuters)
- CIA sought to hack Apple iPhones from earliest days (Reuters)
- Draghi Urged Greece to Allow Troika Back Before It’s Late (BBG)
- Brent crude dips below $58 on strong dollar and supply (Reuters)
- Credit Suisse replaces CEO Dougan with Prudential's Thiam (Reuters)
- More "distressed" energy M&A: Verisk buys Wood Mackenzie for £1.85bn (FT)
- Prepare for a surge in defaults: Investors Are Buying Stocks and Bonds From Energy Producers Amid Oil Price Drop (WSJ)
- Private equity executive ordered to pay £72m to ex-wife (FT)
- Democratic donors unfazed by Hillary Clinton's use of private email (Reuters)
- Expensive Hepatitis C Medications Drive Prescription-Drug Spending (WSJ)
- 'ISIS Hackers' Almost Certainly Not ISIS Hackers (NBC)
Back in August, when we wrote about the latest instance of trouble in Maduro's socialist paradise, we cautioned that as a result of the economic collapse in the Latin American nation, Venezuelans soon may need to have their fingerprints scanned before they can buy bread and other staples. Privacy concerns aside (clearly Venezuelans have bigger, well, smaller fish to fry) there was hope that this plunge into insanity would be delayed indefinitely, as the last thing Venezuela's strained economy would be able to handle is smuggling of the most basic of necessities: something such a dramatic rationing step would surely lead to. Unfortunately for the struggling Venezuelan population, the time has arrived and as AP reported over the weekend, Venezuela "will begin installing 20,000 fingerprint scanners at supermarkets nationwide in a bid to stamp out hoarding and panic buying" as of this moment.
Judging by the euphoric exaggeration and fanboyism on mainstream media this morning, today's Apple Watch (not iWatch, definitely not iWatch) unveiling promises to be "world-changing" for the 'wearables' industry (as well as numerous "first time ever..." comments). Of course, there are 'watches' on the market already, but as Reuters Jason Fields 'jokes', the Apple Watch, of course, does more. The face is high resolution and in color. It even has apps that allow you to do a few of the things you’d be able to do if only you could muster the strength to dig your hand into the front pocket of your jeans, or do a little digging in your handbag.
Because we are all deep-undercover Greek tax collectors now.
Greece "Risks Bankruptcy" As Europe Rejects Varoufakis Payment Plan; Another Referendum Fiasco EnsuesSubmitted by Tyler Durden on 03/08/2015 18:43 -0400
The longest running European "Union" soap-opera may finally be coming to its anticlimatic end.
With more than USD 200bn of Treasury securities held by the Fed due to mature in 2016, the Fed will have to make meaningful monetary policy choices in advance. Fed VP Stanley Fischer commented on SOMA maturities in his speech last Friday, but it appears very few have taken notice as yet and even fewer comprehend the challenge soon confronting The Fed. Many believe that Twist had pushed maturities farther “into the future”. The “future” is Q1 2016. (Note: a shrinking balance sheet is a defacto tightening)
"...the creation of money could be an important step for ailing economies"