WHAT A DELICIOUS CAKE OF NEWS
Hugo adan. Agosto 27, 2014
http://nd-hugoadan.blogspot.com/
Agosto
27 Situación Económica y Política
That comes in red brackets are my
comments
Merkel
Slams US Hegemony? "America Can't Solve All The World's Problems
Anymore" Submitted by Tyler
Durden on 08/27/2014 - 18:29 First
Russia and China, then UAE, Egypt, and Turkey... and now it appears Germany
(following a phone call with Putin) is pulling the rug out from under US
hegemony - just as Obama's warmongery ramps up... *MERKEL SAYS U.S.
CAN'T SOLVE ALL THE WORLD'S PROBLEMS ANYMORE
Which is odd because just yesterday, President Obama (who
never lies) stated "The United States is and will remain the one
indispensable nation in the world..." adding that "no
other nation can do what we do." Perhaps he is wrong?
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The
Nail In The Petrodollar Coffin: Gazprom Begins Accepting Payment For Oil In
Ruble, Yuan Submitted by Tyler
Durden on 08/27/2014 - 15:57 According
to Russia's RIA
Novosti, citing business daily Kommersant, Gazprom Neft has agreed to
export 80,000 tons of oil from Novoportovskoye field in the Arctic; it will
accept payment in rubles, and will also deliver oil via the Eastern
Siberia-Pacific Ocean pipeline (ESPO), accepting payment in Chinese yuan for the
transfers. Meaning Russia will export energy to either Europe or China,
and receive payment in either Rubles or Yuan, in effect making the two
currencies equivalent as far as the Eurasian axis is conerned, but most
importantly, transact completely away from the US dollar thus, finally
putin'(sic) in action the move for a Petrodollar-free world.
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What
The Next Gold Confiscation Will Look Like Submitted by Tyler
Durden on 08/27/2014 - 19:51 You
may be familiar with the story of how the US government confiscated gold
bullion and then made owning it illegal back in 1933. Actually this event
is more accurately termed a nationalization. Americans were forced under harsh
penalties to sell their gold at an artificially low “official price.” Many have
speculated that the US government could once again turn to gold
confiscation/nationalization if it became desperate enough. But would the US
government really turn to a 1933-style grab again? We would argue that they
wouldn’t, but that doesn’t mean the threat to your gold has diminished.
Quite the opposite.
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Militarized
Schooling? "Newtown Was A Nuclear Bomb That Changed Everything" Submitted by
Tyler
Durden on 08/27/2014 - 19:25 The
following sign
on the grass in front of a Texas school sums up where we are with the militarization
of education in America. As
WSJ reports, public schools nationwide are greeting students for the fall
term with a host of new security measures including adding armed guards,
giving guns to employees, installing perimeter fencing, and bulletproof glass.
"It's kind of the way of the world, unfortunately," notes one parent,
but bulking up on security has led some parents and experts to question how it
affects students. The idea of "hardening" schools against
intruders took on urgency after Dec 2012: "Newtown was a nuclear bomb
that changed the whole landscape of everything."
------
Another
Keynesian Myth Refuted: Cold Winters Do Not Shrink The Economy Submitted by
Tyler
Durden on 08/27/2014 - 18:59 While
weather may affect the economy, the recent contraction has little to do
with winter’s bitter cold; the US economy is far too diverse and complex.
Instead, we are witnessing the ongoing effects of failed monetary and fiscal
policies. As the Wickersham Commission noted years ago, “These laws [of
economics] cannot be destroyed by governments, but often in the course of human
history governments have been destroyed by them.”
--------
Sometimes
0% Is Better Than -82% Submitted by Tyler
Durden on 08/27/2014 - 18:50 You
want winners? You want me to put my Cramer Berkowitz hedge fund hat
on and just discuss what my fund is buying today to try to make money tomorrow
and the next day and the next? You want my top 10 stocks for who is going to
make it in the New World? You know what? I am going to give them to you.
Right here. Right now...
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An
Interview With Alasdair Macleod Submitted by Tyler
Durden on 08/27/2014 - 18:31 Yesterday
it was Ambrose
Evans Pritchard, today we have a conversation with Alasdair Macleod right
outside the Dutch reform Church in Austin Friars near the Bank of England.
Together they talked about, inter alia: the challenges for The London Bullion
Market Association (LBMA); China’s appetite for gold; the Shanghai Cooperation
Organization as THE future player in the gold market; and the problems related
to Germany’s gold at the New York Fed.
------
Arms
Trade Treaty: What Is It And Why Does It Matter? Submitted by
Tyler
Durden on 08/27/2014 - 18:04 The right to bear arms in the United States
has been and continues to be one of the most hotly debated pieces of
legislation in our modern era. But, as Nicole Pontius
of CamCode notes, the reality is that gun laws and arms regulation is not
simply a human rights issue and it certainly does not only affect the U.S. Arms
regulation also impacts national security, economic interests, global commerce
and foreign policy. As Pontius adds,
the latest political solution to help improve international arms regulation
is the ATT, or the Arms Trade Treaty. Among a number of potential benefits
of the ATT, this treaty would require governments to report all arms
sales, thus preventing the sale and transfer of weapons likely to be
used in violation of human rights all around the world. We wanted to take a
closer look at this important piece of legislation - this infographic
answers what it is, who is involved, and why we need it.
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4
Years Until The Next Recession? Not Likely! Submitted by
Tyler
Durden on 08/27/2014 - 17:30 David
Rosenberg, in one of his recent missives, wrote: "...based on the
current trend in the LEI and the level of the diffusion index, history suggests
that the next recession is at least four years away." While anything
is certainly possible, it is highly unlikely that the current economic
environment is supportive of another four years of a "struggle along"
economy. Given the artificial supports during recent years, the extreme
extension in assets prices, record levels of margin debt and the chase for
yield in "junk credits," it is highly possible that the next
recessionary decline could be much larger than the historical average.
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Saxo
Bank CIO Warns "It's Time To Be Defensive... Very Defensive" Submitted by
Tyler
Durden on 08/27/2014 - 16:31 "Germany
will flirt with recession by Q4 of this year," warns Saxo Bank's Chief
Economist Steen Jakobsen, adding that "the US is in worse shape than
most people believe." It's important to underline, he notes, that
major US investment houses, and certainly every single sales person we talk to,
believe US is about to accelerate in growth not slow down. Jakobsen warns
though that Q3 could be ok but the real damage will come in Q4 as the
lead-lag factor of geopolitical risk, lack of reforms and excess global supply
leads to low inflation. His conclusion, "it’s time to be
defensive... very defensive."
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Confidence
In Central Planning Saved With Last Second All Time High Ramp Submitted by
Tyler
Durden on 08/27/2014 - 16:06 Once
Europe closed, US equity markets rolled over on what is a new
'lowest-volume-day-of-the-year' led by recent winner Russell 2000. The Dow
is now red on the week and the Nasdaq up 11 days in a row. Today was not
about stocks though (aside from the close). While CAD saw its best gain in over
2 years, it was US Treasuries (as EUR weakened and Bund yields plunged) that
made the flashing red headlines with 30Y back at 15-month lows (at 3.10%) and
10Y -3.5bps at 2.36% as the yield curve flattened even further. 2s30s
dropped below 260bps - its flattest since Dec 2012. Un-de-escalation
concerns evident in TSYs and credit finally started to bleed into VIX and
stocks. Gold, silver, and oil limped higher as US weakened (and copper fell). A
desperate buying panic into the close smashing S&P futures to VWAP
magically enabled the S&P to close at the confidence-inspiring
centrally-planned 'wealth effect' level of 2000.07!!
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30Y
Treasury Yield Plunges To Fresh 15-Month Lows Submitted by
Tyler
Durden on 08/27/2014 - 15:10 Someone
is gonna be wrong...
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CBO
Thinks Millions Of Americans Aren't Going To Sign Up For Obamacare Submitted by
Tyler
Durden on 08/27/2014 - 14:47 According
to government's own projections, the 'universal coverage' provided by the
Affordable Care Act will still yield almost 4 million Americans who will
prefer to pay an average tax of more than $1,000 to the government for 2016,
rather than buying health insurance that year... and the total number of
nonelderly uninsured Americans projected for calendar 2016 is some 30 million. [[I would like
that this 4 million Americans organize the National Front to rebuild America, to
go beyond the trap of the bipartisan corrupted parties (democrats and
republicans) financed by the same big corporations. We need a third choice, a
real democracy in America]]
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Argentina
– Sliding Down A Slippery Slope Submitted by Tyler Durden on 08/27/2014 - 13:40 It is actually quite sad to watch the
continued downfall of Argentina's economy under the inept ministrations of its
government. The only good thing that can possibly come from this is that it
will set yet another example for others so they may avoid making similar
mistakes. Unfortunately the example is being set on the backs of the
country's citizens, who are seemingly forced to live from crisis to crisis.
Politicians rarely pay the price for their atrocious policies, and we are quite
sure Ms. Kirchner and her cronies have feathered their nests in ways the
average citizen cannot even dream of (most recently, corruption
allegations have caught up with Ms. Kirchner's vice president. Rampant
government corruption has long been a
hot topic in Argentina under Ms. Kirchner's rule). It is not as though
Argentina didn't have great potential. If only politicians would leave its
economy alone and stopped inflating the currency into oblivion, the country
could easily and quickly regain its former prosperity. [[Dream
on… leave the speculators alone is not the solution.. Argentinians are working on a real one]]
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2nd
American ISIS Fighter Killed In Syria, CNN Reports Submitted by Tyler Durden
on 08/27/2014 - 13:15. The anti-ISIS operation, Naharawan al-Sham, who distributed
images of the first American to be killed fighting for ISIS yesterday, has according
to CNN announced a second American was killed in battle representing
ISIS. So far, neither ISIS (which often comments on death of its
"martyrs") or Naharawan al-Sham has released any images or evidence
of the second death. [[Bring the troops home.
We have nothing to offer to Middle East countries. We destroy their homes,
their families, the infrastructure of their cities and we have not plan to
re-build this region. The ISIS are mostly sunis who now got an alliance with the
soldiers of the Baath party of Sadam Hussein, retaliation is the less they want
since we destroy Faluya to the stone age. What the American war monguers expected
from ISIS was wrong from the very
begining. We delete the families and the future of the young generation in that
region, but we did not delete their memory, nor their current reality. We trained them, armed them and converted them into mercenaries. They don’t need now our
devaluated dollars. In 2003, after the destruction of Faluya they hang up 7
american mercenary-soldiers, now officially they killed two. It stand to reason,
we did worse thing before, we killed millions. If we really care for our
soldiers, just bring them home and get
for them a decent work. We do not need more wars, the only beneficiary of wars
are big corporations. It is here –in the US- that we
need soldiers to stand for real democracy and freedom]]
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CBO
"Revises" Its 2014 GDP Forecast, Hilarity Ensues (As Always) Submitted by
Tyler
Durden on 08/27/2014 - 11:24 The
gross, in fact epic, incompetence of the Congressional Budget Office when it
comes to doing its only job, forecasting the future state of the
US economy, has previously been extensively documented here
(and here
and here
and here).
This incompetence is in the spotlight once again this morning with the CBO's
release of its latest forecast revision of its original February 2014
projection. And while every aspect of the revised projection has changed, in an
adverse direction of course, the punchline is the chart below: the CBO's
revised projection for 2014 GDP. It's one of those "no comment
necessary" visuals.
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The
"European Close" Trade Submitted by Tyler
Durden on 08/27/2014 - 11:21 Will today be 4 in a row?
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Ukraine Accuses Russia Of Imminent Gas Cut-Off, Russia
Denies, Germans Anxious Submitted by Tyler Durden on 08/27/2014 - 10:51 Shortly after talks ended, Ukrainian Premier
Yatsenyuk stated unequivocally that "we know about the plans of Russia
to cut off transit even in European Union member countries," followed
by some notably heavy-on-the-war-rhetoric comments. The Russians were quick to
respond, as the energy ministry was "surprised" by his statements on
Ukraine gas transits and blasted that comments were an "attempt at EU
disinformation."
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The
Five Cities Most At Risk For The Next Big Earthquake Submitted by Tyler
Durden on 08/27/2014 - 10:28 Damages
from the earthquake that hit the San Francisco area this weekend are estimated
to be as high as $4 billion. For many cities around the world, particularly
coastal cities situated on the geologically active Ring of Fire, an earthquake
could be catastrophically destructive. Bloomberg looks at the five cities
that are most vulnerable to earthquakes. As Michael Snyder rather ominously
warns, the
quake last weekend is just the start of the shaking in California... Scientists
assure us that it is only a matter of time before "the Big One" hits
California.
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Feeling
Worthless? The 10 Majors Most Likely To Lead To Underemployment Submitted by Tyler Durden on 08/27/2014 - 09:09 When it comes to worthless majors, it is no
secret that "liberal arts" are at the top of the heap. This is the
conclusion of not just the real world: a recent survey of 68,000 workers by salary information
firm PayScale confirmed as much when asking the humanities majors
themselves, and where employees with degrees in fields like English, general
studies, and graphic design were among the most likely to report feeling
"underemployed" at their current jobs.
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The
Greatest Depression? German Yields Now Negative Through 2017 Submitted by Tyler
Durden on 08/27/2014 - 08:28 Another
night, another sell-side bank suggests European QE must be getting closer and,
along with more un-de-escalation in Russia-Ukraine, the bid for German bonds
continues to surge as Europe's
greater depression appears increasingly priced into bonds. Yields on
all German bonds out to 3 years are now negative and 10Y Bunds have collapsed
to 90.5bps - record lows. This in turn - as
we explained here - is dragging Treasury yields lower (10Y 2.36%) but
leaves the spread to Bunds at record highs.
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The
DSKing Of Christine Lagarde: IMF Head Formally Charged In Fraud Probe Submitted by Tyler
Durden on 08/27/2014 - 07:58 Several
hours ago the news hit that a French court has put Christine Lagarde, head of
the International Monetary Fund, under a formal probe for negligence in a
corruption investigation dating back to her days as finance minister.
---------
Submitted by Tyler
Durden on 08/27/2014 - 07:36
- Islamic State executes soldiers, takes hostages at Syria base (Reuters)
- Buffett Burger King Funds Flip Obama’s Inversion Calculus (BBG)
- Equities Reach Record $66 Trillion as S&P 500 Hits 2,000 (BBG)
- Central Banks Playing Own Version of Plaza-opoly With FX (BBG)
- Russia court closes McDonald's branch for 90 days (Reuters)
- Finland Says NATO an Option After Russia ‘Violates’ Border Laws (BBG)
- Netanyahu Hit With Domestic Criticism Over Gaza Truce (BBG)
- Biggest Danish Fund Readies for Rate Shock as Exit Narrows (BBG)
- Nonprofit Hospitals' Profits Fall (WSJ)
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WTF
White House Statement Of The Day: Syria Airstrikes Edition Submitted by Tyler
Durden on 08/26/2014 - 23:42 When President
Obama bragged earlier that "The United States is and will remain the
one indispensable nation in the world..." adding that "no other
nation can do what we do," we should have guessed some more war-mongering
was coming... and sure enough. As
AP reports, it appears Syrian airstrikes are on
their way, but there's a mind-blowing twist in US foreign policy: "In an effort to avoid unintentionally
strengthening the Syrian government, the White House
could seek to balance strikes against the Islamic State with attacks on Assad
regime targets." In the words of the Guinness commercial,
Brilliant. [[this blowing twist was
expected; it was also expected the Obama would realize
that we need the world but the world don’t need us]]
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