A month ago we explained in gory detail the growth of "click farms" where nothing is what it seems, and where social networking participants spend millions of dollars to appear more important, followed, prestigious, cool, or generally "liked" than they really are. The following excellent walk-through of just how the fraud works is concerning when the entire US stock market appears propped up by an ever-shrinking layer of "social media" and "cloud" faith that this time it's different and no Friendster or MySpace.
President Maduro and his ministers have stated (fully supported by Argentina):
*PEOPLE BEHIND YESTERDAY'S VIOLENCE WILL BE PUNISHED: ORTEGA
*VENEZUELA ISSUED ARREST ORDER FOR LEOPOLDO LOPEZ: VOLUNTAD
*VENEZUELA IN ABSOLUTE CALM, ORTEGA SAYS
*ARGENTINA SAYS IT FIRMLY SUPPORTS VENEZUELA'S GOVERNMENT
However, between armed groups reportedly firing shots (see clip below) into the Students Assembly and the disappearance of the protest leader, the protests appear to be anything but "calm."
The Turkish Lira may have halted its record collapse against "reserve" currencies - for now - but the reality is that nothing has changed for the better in Turkey, and in fact things continue to get worse.
It appears it's not enough to have a record year on your stock market? Economic hardship, socialism, starvation, and not enough toilet paper have apparently led to the bloodiest riots in Caracas in years. As AP reports, at least 2 people were killed as large anti-Maduro protests engulfed the nation's capital.
The growing tensions between Italian Prime Minister Enrico Letta (and his fragile coalition) and Matteo Renzi - the head of parliament's largest (center-left Democratic) party are intensifying this morning. Calls for Letta's resignation, sparked by a junior coalition party head "hoping he was ready to step down," have escalated into more open speculation that the Italian government could collapse within days. Following the failure today of a 'strategy meeting' with center-right coalition partners, Renzi's pro-job-creation and electoral law reforms agenda is gaining consensus. While Letta has stated he will move ahead with his government (and address the public later today), Renzi warned, via Twitter, that he will talk tomorrow afternoon on the way forward.
Here comes the latest one - Pax. Weather.com's description of what is about to be unleashed on Atlanta and the entire Eastern Seaboard is nothing short of a review of the movie The Day After Tomorrow: "Potentially "catastrophic" Winter Storm Pax began unfolding before dawn Wednesday in the Atlanta area as temperatures dropped below freezing and sleet and freezing rain began to fall." The National Weather Service's warning was not exactly cheery: "Let’s just start by saying this winter storm may be of historic proportions for the area,” the agency said in a forecast analysis. “We’re looking at significant snowfall totals north and significant, crippling ice totals, especially along the Interstate 20 corridor.” Eli Jacks, a meteorologist with National Weather Service, said forecasters use words such as "catastrophic" sparingly. Not in this case. "Sometimes we want to tell them, 'Hey, listen, this warning is different. This is really extremely dangerous, and it doesn't happen very often,'" Jacks said. The service's memo early Wednesday called the storm "an event of historical proportions." It continues: "Catastrophic ... crippling ... paralyzing ... choose your adjective."
- Anti-Euro Party’s Le Pen Gains Supporters, French Poll Shows (BBG)
- Carney Renews BOE Low-Rate Pledge to Fight Slack in Economy (BBG)
- Bank of England hints at 2015 rate rise (Reuters)
- ECB bond-buying intact and ready after court decision-Coeure (Reuters)
- Canada scraps millionaire visa scheme, dumps 46,000 Chinese applications (SCMP)
- Scrap this then? Vancouver facing an influx of 45,000 more rich Chinese (SCMP)
- China's January Exports Power Higher, Up 10.6% (WSJ) ... and nobody believes the number
- Emerging-Market Shakeout Putting Reserves Into Focus (BBG)
- Wall Street's most eligible banker Fleming waits for suitor (Reuters)
- Kazakh Devaluation Shows Currency War Stirring as Ruble Dips (BBG)
We have become a delusional state dependent upon fallacies to convince ourselves our foolhardy beliefs, ludicrous economic policies, corrupt captured political system, and preposterously fraudulent financial system are actually based on sound logic and reason. The fallacy being flogged by government drones and the legacy media about companies not hiring new employees because it has been cold and snowy during the winter is beyond absurd. The other fallacy being pontificated by retail executives in denial, cheerleaders on CNBC and the rest of the propaganda press is weather is to blame for terrible retail sales over the last quarter. Revealing the truth about pitiful employment growth and dreadful retail sales would destroy the fallacy of economic recovery stimulated by the monetary policies of the Federal Reserve and fiscal policies of the Federal government. We have a country built on a Himalayan mountain of fallacies.
... or else the following photo just tweeted by Marie-Antoinette Michelle Obama of White House canines dining on fine taxpayer-funded china might have seemed just a little inappropriate.
Just as we predicted it would happen, here it comes:
- OBAMACARE EMPLOYER MANDATE TO BE DELAYED FOR SOME COMPANIES
Specificaly, according Bloomberg, businesses with 50-99 workers have until 2016 before being penalized for not providing health-care coverage to full-time workers, according to final regulations released by Treasury.
Trust is gone and credit is going and debt is sitting between a rock and a hard place with its grubby hands pressed together, praying that it will be forgiven, forgotten, or overlooked a little while longer. By the way, the reason trust and credit are gone is because oil is no longer cheap and world economies can’t grow anymore. They can’t afford to run the day-to-day operations of a techno-industrial society. They can only pretend to afford it. The stock markets are mere scorecards for players who can only lie and cheat now to keep the game going. Somewhere beyond all the legerdemain and fraud, however, there remains a real world that is not going away. We just don’t know what it will look like when the smog of fraud clears.
- Yellen's first test (Reuters)
- Let weak banks die, says eurozone super-regulator (FT)
- Yellen, Carney Face Explaining Policy as Benchmarks Near (BBG)
- Commerzbank Said Seeking Debt Buyers in $6.8 Billion Spain Exit (BBG)
- Junk Yield Premiums Soar on China’s Looming First Default (BBG)
- Millions Trapped in Health-Law Coverage Gap (WSJ)
- Mandel Tops Best-Earning Hedge Funds for Clients in 2013 (BBG)
- Swiss Brace for Sour EU Relations After Immigration Vote (BBG)
- Detroit Bankruptcy Talks to Resume (WSJ)
Gloomy commentary on the world's ageing population appears overdone. We look at key silver linings and the significant investment opportunities ahead.
Better watch out, bitcoin!
Japanese Women Boycott Sex With Any Man Who Votes For Tokyo's "Menstruating Women Are Irrational" GovernorSubmitted by Tyler Durden on 02/07/2014 22:38 -0400
It would appear hell hath no fury like a menstruating Japanese woman scorned... As The Daily Star reports, women in Tokyo are threatening a sex boycott against any man who votes for the front-runner in this weekend's critical Abenomics-vote-of-confidence gubernatorial election. The reason? Yoichi Masuzoe, a 65-year-old former political scientist, stated that it would not be proper to have women at the highest level of government because their menstrual cycle makes them irrational. All 16 candidates in the poll are men, with many of them aged in their 60s or older. But Masuzoe's comments about women, as well as other controversial remarks on taxing the elderly, have triggered a backlash.