Ireland
Rotting, Decaying And Bankrupt – If You Want To See The Future Of America Just Look At Detroit
Submitted by Tyler Durden on 06/17/2013 22:41 -0400
Eventually the money runs out. Much of America was shocked when the city of Detroit defaulted on a $39.7 million debt payment and announced that it was suspending payments on $2.5 billion of unsecured deb. Anyone with half a brain and a calculator could see this coming from a mile away. But people kept foolishly lending money to the city of Detroit, and now many of them are going to get hit really hard. But what Detroit is facing is not really that unique. In fact, Detroit is a perfect example of what the future of America is going to look like. We live in a nation that is rotting, decaying, drowning in debt and racing toward insolvency. Just like Detroit, a day is rapidly approaching when America will not be able to kick the can down the road anymore. Sadly, our politicians don't seem inclined to do anything about it and most of the population seems to think that our exploding national debt is not a significant problem. By the time it becomes clear how wrong they were, it will be far too late to do anything about it.
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Allegations of Fraud, 20% Drop In Stock Price, Market Manipulations, Internal Investigations: Nothing To See Here, Move On...
Submitted by Reggie Middleton on 06/17/2013 10:44 -0400My revelations in European banks have resulted in two top level "unexpected" resignations (Irish Central Bank head, RBS CEO). Here I'm shooting for a 3rd at Bank of Ireland!
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G8 Summit: Just How Effective?
Submitted by Pivotfarm on 06/17/2013 07:47 -0400The summit opens today for two days of public display of back-slapping and hand holding, championing the things that the west does best. The summit was preceded yesterday by the parading of 8 life-size puppets with huge heads to draw attention to poverty levels in the world.
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Futures Ramp Higher Ahead Of Key FOMC Announcement As Nikkei Regains 13,000
Submitted by Tyler Durden on 06/17/2013 06:53 -0400First it was the "most important" payroll print in years, then the "most important" retail sales number, and now we are just days ahead of the "most important" FOMC statement in years as well, as the fate of the centrally-planned markets lies in the hands of Bernanke's decision to taper, or not to taper. The main catalyst for now still appears to be an ongoing wrong interpretation of Hilsenrath's Thursday blog post in which some still see reaffirmation by the Fed that it won't taper, when all the Fed's mouthpiece said is that the short-end would be anchored even as the long-end is allowed to rise. Looking at the well-known no volume levitation futures action, which in the overnight session has wiped out all of Friday's losses and then some simply due to a 2.73% rise in the Nikkei overnight back above 13,000 driven by the USDJPY briefly regaining 95.00, the market has made up its mind (if only for the time being) that whatever decision the Fed takes regarding the monthly level of liquidity injection is a bullish one. At least until it changes its mind next.
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HSBC’s Respected Steel Says Gold Over $1,600/oz In 2013
Submitted by GoldCore on 06/14/2013 11:28 -0400James Steel, chief commodities analyst at HSBC in New York continues to be constructive on gold in the medium and long term and sees gold rising to $1,600/oz in the second half of 2013.
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Hard Hitting, Bleeding Edge Research Results In 2nd High Level Ouster/Resignation In The UK & Euroland
Submitted by Reggie Middleton on 06/14/2013 11:17 -0400Why do these high level guys "unexpectedly" resign as soon as a few secrets are revealed?
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Frontrunning: June 14
Submitted by Tyler Durden on 06/14/2013 07:24 -0400- Apple
- Bain
- Bank of England
- Barack Obama
- Berkshire Hathaway
- BOE
- Bond
- Capstone
- Carlyle
- China
- Chrysler
- Consumer Prices
- CSC
- Ford
- Gannett
- Housing Market
- Iran
- Ireland
- JPMorgan Chase
- LIBOR
- Monetary Policy
- New York State
- Newspaper
- Private Equity
- RBS
- Reuters
- Rupert Murdoch
- Securities and Exchange Commission
- Steve Jobs
- Turkey
- Unemployment
- Unemployment Benefits
- Wall Street Journal
- White House
- Yuan
- As Goldman's money-printing tentacle Carney arrives, everyone else leaves: Tucker to Leave BOE (WSJ)
- So much for pent up demand: Refinancings Plunge as Bond Yields Rise (WSJ)
- Singapore Censures 20 Banks for Attempts to Rig Benchmark Rates (BBG)
- Behind the Big Profits: A Research Tax Break (WSJ)
- While working for spies, Snowden was secretly prolific online (Reuters)
- Turkey to Await Ruling on Park as Erdogan Meets Protesters (BBG)
- Iran votes for new president, Khamenei slams U.S. doubts (Reuters)
- NSA revelations, modified wheat cast a pall on U.S. trade talks with Europe (WaPo)
- Euro zone inflation subdued as employment keeps falling (Reuters)
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Transparency In The European Banking? Madness, I say! Sheer, Utter Madness!!!
Submitted by Reggie Middleton on 06/12/2013 11:09 -0400- Bank Run
- Bankruptcy Code
- Barclays
- Bear Stearns
- Bond
- Credit Suisse
- Creditors
- default
- Deutsche Bank
- European Central Bank
- European Union
- Federal Reserve
- France
- Germany
- Gross Domestic Product
- Ireland
- Lehman
- Lehman Brothers
- RBS
- SocGen
- Sovereign Debt
- Sovereign Risk
- Sovereign Risk
- Sovereigns
- Stress Test
- The Economist
- Transparency
Dare 'Ye Test the Analysis To Ascertain It's Virility? Madness, I say! Sheer, Utter Madness! In other words - SYSTEMIC RISK is here, NOW!
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Europe's EUR500 Billion Quasi-Quantitative Easing
Submitted by Tyler Durden on 06/12/2013 08:43 -0400
Five Eurozone countries now have loans for half a trillion Euros. These members of the Euro currency union are receiving loans from the one of two bailout funds which are financed by the other 12 Eurozone members. Eurozone members receiving assistance from the two European rescue funds do not pay into it. That means the higher the assistance, the higher the obligations of the healthier countries. Germany already guarantees 27 percent of the loans, France 20 percent and Italy 18 percent. The rescue funds borrow capital, guaranteed by nations of the European Union, in the financial markets and then hand the money to the indebted countries. In doing this they engage in a kind of Quantitative Easing where money is printed based upon the various guarantees. None of these guarantees are counted against the liabilities of any country when the debt to GDP ratios are made public. There is a new scheme underway where bondholders would have to pay for the vast amount of any losses with the money of depositors also in question. There is no agreement yet on this plan. What can be said is that the playing field is being tilted with much more risk now placed in the hands of bond owners and depositors.
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Frontrunning: June 11
Submitted by Tyler Durden on 06/11/2013 07:13 -0400- Apple
- Bank of Japan
- Boeing
- China
- Citigroup
- European Central Bank
- Fitch
- Freddie Mac
- General Electric
- Goldman Sachs
- goldman sachs
- Insider Trading
- Ireland
- Japan
- Mexico
- Michigan
- Monetary Policy
- MSNBC
- Obama Administration
- Private Equity
- ratings
- recovery
- Reuters
- SAC
- Shadow Banking
- SPY
- Textron
- United Kingdom
- University Of Michigan
- Volatility
- Wall Street Journal
- World Bank
- Citigroup Facing $7 Billion Currency Hit on Dollar, Peabody Says (BBG)
- World has 10 years of shale oil, reports US (FT)
- ECB prepares to defend monetary policy in German court (FT)
- European Stocks Sink to Seven-Week Low as Treasuries Fall (BBG)
- Fitch warns on risks from shadow banking in China (Reuters)
- Obama administration to drop limits on morning-after pill (Reuters)
- ACLU asks spy court to release secret rulings in response to leaks (MSNBC)
- SEC Nets Win in 'Naked Short' Case (WSJ)
- SoftBank Raises Offer for Sprint to $21.6 Billion (WSJ)
- Chinese rocket launch marks giant leap towards space station (FT)
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News that Matters - Market Close
Submitted by Pivotfarm on 06/10/2013 19:50 -0400- Ben Bernanke
- Ben Bernanke
- Bond
- China
- European Central Bank
- Federal Reserve
- Germany
- Greece
- headlines
- Housing Starts
- Insider Trading
- International Monetary Fund
- Ireland
- Japan
- Joseph Stiglitz
- LTRO
- Market Crash
- Monetary Policy
- New York Fed
- OPEC
- Portugal
- Recession
- recovery
- Reuters
- Unemployment
- United Kingdom
- Wall Street Journal
- William Dudley
- Yuan
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S&P Revises U.S. Credit Outlook To "Stable" From Negative
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Fed's Bullard Details How QE Can Be Cut
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Fed Retreat From Bond Buying Expected By Fourth Quarter - Poll
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U.S., Japan Leading Recovery In Major Economies - OECD
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Frontrunning: June 10
Submitted by Tyler Durden on 06/10/2013 07:23 -0400- Apple
- Barclays
- China
- Corporate Finance
- Crude
- CSCO
- Glenn Beck
- Goldman Sachs
- goldman sachs
- Hong Kong
- Iceland
- Insurance Companies
- Ireland
- Japan
- Lloyds
- national security
- Natural Gas
- Newspaper
- Obama Administration
- PrISM
- Private Equity
- Real estate
- recovery
- Reuters
- Royal Bank of Scotland
- United Kingdom
- VeRA
- Wall Street Journal
- In Hong Kong, ex-CIA man may not escape U.S. reach (Reuters)
- Backlash over US snooping intensifies (FT)
- Apple to Revamp IPhone Software, Ending Product Funk (BBG)
- Nothing like revising history: Japan revises up Q1 growth to annual 4.1% (FT), just don't look at the trade deficit
- Coffee Exports From Indonesia Seen Slumping to Two-Year Low (BBG)
- Euro bailout Troika nears end of road with patchy record (Reuters)
- Treasuries Little Changed Before Bullard Speaks Amid QE Debate (BBG)
- Schwab Topping Goldman Sachs Presages Return to Stocks (BBG)
- Hedge funds take over another city: London’s Forced Renters Fuel Apartment Investing Boom (BBG)
Cameron, Tax Havens and the G8
Submitted by Pivotfarm on 06/05/2013 15:15 -0400The UK Prime Minister, David Cameron has convened a meeting with ministers from overseas territories (Bermuda, Jersey, Guernsey, the Isle of Man, Gibraltar, the Cayman Islands, Montserrat, the Turks and Caicos Islands, Anguilla and the British Virgin Islands) in London it has been announced.
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Taxation Without Representation: UK Taxpayers Learn From The Irish What US School Kids Get Taught In 3rd Grade
Submitted by Reggie Middleton on 06/05/2013 10:58 -0400How bad bank debts, concealed bank liabilities and US grade school history collide in Taxation Without Representation!
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Frontrunning: June 5
Submitted by Tyler Durden on 06/05/2013 07:33 -0400- AIG
- American International Group
- Apple
- Australia
- BAC
- Bad Bank
- Bank of America
- Bank of America
- Barack Obama
- Bond
- Brazil
- China
- Collateralized Debt Obligations
- Creditors
- Dallas Fed
- European Central Bank
- Fisher
- fixed
- Futures market
- Gundlach
- Ireland
- Israel
- JPMorgan Chase
- Mervyn King
- Morgan Stanley
- national security
- Natural Gas
- Obama Administration
- Real estate
- Reuters
- Royal Bank of Scotland
- SAC
- Steve Jobs
- Stress Test
- Verizon
- Volatility
- Wall Street Journal
- White House
- Yuan
- National Security Advisor Tom Donilon resigning, to be replaced by Susan Rice - Obama announcement to follow
- Japan's Abe targets income gains in growth strategy (Reuters), Abe unveils ‘third arrow’ reforms (FT) - generates market laughter and stock crash
- Amazon set to sell $800m in ads (FT) - personal tracking cookie data is valuable
- 60 percent of Americans say the country is on the wrong track (BBG) and yet have rarely been more optimistic
- Jefferson County, Creditors Reach Deal to End Bankruptcy (BBG)
- Turks clash with police despite deputy PM's apology (Reuters)
- Rural US shrinks as young flee for the cities (FT)
- Australia holds steady on rate but may ease later (MW)
- The Wonk With the Ear of Chinese President Xi Jinping (WSJ)
- Syrian army captures strategic border town of Qusair (Reuters)
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