Traditionally, the best way to keep track of future military deployments has been to follow key procurement contracts from the U.S. DoD of mission critical offensive wartime equipment, or, less followed, core defensive components such as kevlar, body armor and other forms of core personal protective gear. These usually take place shortly prior to major "events" involving US armed forces. Which is why we were surprised to learn that earlier today, the Pentagon revealed it had placed a $93 million order for 177,000 ballistic body armor plates from the US military's traditional supplier of protective equipment, Ceradyne.
In Operation Stampede, what is being called the largest food-stamp trafficking takedown in history in terms of financial loss, law enforcement agencies filed federal charges last week against 22 Florida store owners or operators, including one convenience-store owner, in connection with schemes to illegally redeem food-stamp benefits for cash. the defendants fraudulently obtained more than $13 million dollars in EBT deposits for transactions in which the stores did not provide food.
There is a great deal that is wrong with mainstream economic commentary, starting with its unwavering devotion to orthodox economics and unshakable faith in their “stimulus.” No matter how little is actually stimulated there is never any doubt that the media will simultaneously forget the last one while lavishing praise on the next one. It is, however, the actual economic commentary itself that may be the most damaging. Because nothing works, every news story is printed from the shallowest, narrowest perspective. It is a grave disservice to the public and journalism.
Call it criminal deja vu, all over again: "Morgan Stanley and Goldman, Sachs & Co. are acting as lead joint book-running managers for the offering, with Deutsche Bank Securities, Citibank, and BofA Merrill Lynch acting as additional book-running managers."
Two Chinese military aircraft intercepted a U.S. military reconnaissance plane over the South China Sea Tuesday. Defense Department spokesperson Lt. Col. Michelle Baldanza said that the U.S. maritime patrol reconnaissance aircraft was flying in a "routine patrol" in international airspace on May 17 when "two tactical aircraft from the People's Republic of China" intercepted the U.S. plane. The two Chinese fighter jets were J-11s and flew approximately 50 feet from the U.S. aircraft.
Wall Street bonuses are predicted to fall across the board, according to estimates from compensation consultant Johnson Associates Inc. who warns that fixed income trading and investment bank underwriting will be hardest hit, estimating that bonuses for those roles will fall as much as 15 percent to 20 percent from last year.
If we are going to simply print money and hand it out with no expectation or means to pay it back, why would we not print enough to make everyone wealthy? Socialism is not about equality, quite the opposite. If it were, The ECB would be discussing limitless debit cards paid for by the Central Banks. Socialism is a mechanism to subsidize profits and cement control of the masses.
While all Hillary wants to do (aside from staying out of jail) is rid herself of Bernie Sanders so the campaign can turn its attention to Trump, Sanders doesn't appear to be ready for any of that just yet. According to The Hill, Sanders released a statement Tuesday in response to criticism of his supporters' behavior in Nevada calling the charges "nonsense", adding that the party either needs to embrace "people who are prepared to fight for real economic and social change, or choose to maintain its status quo structure and remain dependent on big-money campaign contributions."
The supposedly dovish April FOMC statement - as global fears fell and turned domestically - has left bonds and bullion the winners and stocks the losers as investors lose faith in The Fed's forecast and economic promises. Today's FOMC meeting minutes suggest an increasingly cornered Fed will pull the trigger iun June with member disagreements brewing: MOST FED OFFICIALS SAW JUNE HIKE `LIKELY' IF ECONOMY WARRANTED; FED: RANGE OF VIEWS ON WHETHER DATA WOULD SUPPORT JUNE HIKE. Of course, no matter what narrative the market perceives from these minutes, tomorrow's speeches by Dudley and Fischer (who has been conspicuously quiet recently) will likely give the biggest hint as to what happens next...
The European Commission is looking to tax video streaming services such as Netflix and Amazon Prime to fund the production of European movies and TV programs Politico is reporting. In addition to the tax, at least 20% of their catalogs must be European productions. The proposals would also curb child viewing of ads for salty, fatty, sugary and alcohol products.
Not long ago we pointed out that the second tech bubble had officially burst, and the extent of the layoffs is increasingly significant. It's taken a few months, but the economic slowdown and downshift in the once bustling Silicon Valley jobs front has now worked its way into the real estate market... "The seemingly inexhaustible well of very high-end buyers has proven exhaustible after all. The peak is behind us, and that's becoming clearer and clearer to builders and buyers"
Once again the fears over China's slowdown, global growth faltering, and the fallacy of US analyst hockey sticks are biting at the ankles of fiction-peddling talking heads. With copper plunging and the USD Index resurgent, as Bloomberg's Mark Cudmore warns, the risk-aversion sparked by China in January is on course for an imminent replay...