JUN 22 SIT EC y POL
ZERO HEDGE
Greece
Capitulates: Tsipras Crosses "Red Line", Will Accept Bailout
Extension. Submitted by Tyler
Durden on 06/22/2015
Under pressure from all sides (and most importantly from
Mario Draghi who holds the fate of the Greek banking sector in his hands) Greece
looks to have folded and is now set to accept an extension of its current
bailout program. PM Alexis Tsipras now faces an uphill battle to unite
Syriza around what is likely to be an unpopular agreement. If he fails, the
country could plunge into political and social turmoil.
----
After
The Charleston Massacre - Who Is A 'Terrorist'?. Submitted by Tyler
Durden on 06/22/2015.
Wherever government officials sense a credible threat to their
power, they invariably take every opportunity to crush it by any means
necessary: this is the first principle of how governments function, and
every libertarian is all too familiar with it. this latest tragedy, you can be
sure, will be used to accomplish the same anti-libertarian ends: the calls
to investigate “hate groups,” and even to ban “hate speech,” are already being
heard. Of course, who and what constitutes a “hate group,” and who is
hating whom are subjective evaluations that no government official is qualified
to make...
----
Ukraine’s
President Poroshenko Admits Overthrow Of Yanukovych Was A Coup. Submitted
by Tyler Durden on 06/22/2015
In a remarkable document, which is
not posted at the English version of
the website of the
Constitutional Court of Ukraine, but which is widely reported outside
the United States, including
Russia, Poroshenko, in Ukrainian (not in English), has petitioned the
Constitutional Court of Ukraine (as it is being widely quoted in
English): "I ask the court to acknowledge that the law ‘on the
removal of the presidential title from Viktor Yanukovych' as unconstitutional.”
----
An
American Biologist Sums Up Financial Markets Perfectly. Submitted by Tyler
Durden on 06/22/2015
“The real problem is the following: we have
paleolithic emotions; medieval institutions; and god-like technology. And
it is terrifically dangerous, and it is now approaching a point of
crisis overall.”
----
Russia
Slams Extension Of European Sanctions; Pentagon Warns Of "Nuclear
Saber-Rattling". Submitted by Tyler
Durden on 06/22/2015
Over the past several months, tensions between Russia and
the West have escalated meaningfully. While it’s certainly true that, since
Crimea, US-Russia relations have deteriorated steadily (baskets of potatoes
notwithstanding), recent events suggests the situation may come to a head more
quickly than either side cares to admit. In the latest provocation, Europe
has extended economic sanctions against Moscow for another six months or, until
the Kremlin agrees to abide by the terms of the Minsk agreement which Europe,
on the word of Kiev, assumes Moscow is violating. Meanwhile, US Secretary of
Defense Ash Carter blasts Russian "nuclear saber rattling."
----
Minimum-Wage-Raising,
Mysterious-Store-Shutting Wal-Mart Removes All Confederate Flag Merchandise
From Stores. Submitted by Tyler
Durden on 06/22/2015
In the latest populist act of America's largest retailer, minimum-wage-raising,
mysterious
store-closing Wal-Mart has decided to remove all Confederate Flag
merchandise from its stores. Apparently it
will continue to stock handguns, rifles, crossbows, ammunition, and other
land-of-the-free-to-choose merchandise.
----
12
Signs That The United States And China Are Moving Toward War. S-by Tyler
Durden on 06/22/2015
If the United States and China are supposed to be such
“great friends”, why are both sides acting as if war is in our future?
There were years of diplomatic troubles before Japan finally made the decision
to launch a “surprise” attack on Pearl Harbor. Right now, it appears we are
moving into a similar period of diplomatic trouble with China.
----
Wealthy
Greeks Slam "Incompetent Communists Ruining The Country", Demand EU
"Save" Greece. Submitted by Tyler
Durden on 06/22/2015
Despite the market's exuberant hope that everything will be
contained and business-as-usual will resume shortly in Europe, the message from
the wealthiest Greeks is very different... As
The FT reports, not since the nation's civil war has Greek society been
riven by deep divisions between left and right as Greece's financial plight
reopens old wounds. "The government are incompetent and are ruining
the country because they are communists and do not understand reality,"
said Maria, a banker. "But there has to be a deal. The EU has to
save us," she said, fingering her golden necklace. "Right?"
----
CEOs
Now Make 300 Times More Than Their Employees (Again). S-by Tyler
Durden on 06/22/2015
"Over the entire period from 1978 to 2014, CEO
compensation increased about 997 percent," The Economic Policy
Institute notes. Meanwhile, thanks in part to a stock market rally corporate
management teams helped to engineer, the CEO-to-worker comp ratio is now back
near its all-time high.
----
Jakobsen:
Why Stocks Will Fall - "Consensus Is Wrong On US Rate Hikes".
S- by Tyler Durden on 06/22/2015
Stock markets in the US and Europe are in for a
correction, while the euro is set to rise, according to Saxo Bank’s Chief
Economist Steen Jakobsen, nomatter what happens between Greece and its
creditors. Steen also looks at the impact a rate hike from the US Federal
Reserve would have on USD and what currencies could gain once the Fed decides
to move on rates, noting that "the consensus has it wrong on the
timing of US rate hike," as the credit cycle topped in June 2014.
He believes that commodities and metals in particular offer opportunities
for investors.
----
For
The First Time Ever, Total ECB Claims On Greek Banks Surpass Total Greek
Deposits. Submitted by Tyler
Durden on 06/22/2015
Net of the latest ELA increase, when adding some €38 billion
in collateralized EFSF bonds and other collateral usage, we find that we have
not only reached parity but crossed it: as of this moment Greek deposits, which
are generously estimated at €120 billion but in reality are lower, are less
than the total ECB claims on Greek banks and the Bank of Greece, amounting to
€126 billion. And with that the possibility of a Greek bail-in which
could amount to up to 100% of total Greek deposits, becomes all too real.
----
How
Urban Homeowners Rigged The Housing Market And Killed GDP Growth. Submitted
by Tyler Durden on 06/22/2015
The phenomenon of homeowners objecting to new development
is called NIMBYism, which stands for "Not In My Back Yard." The
premise behind this is that homeowners don't want to risk any changes that
could adversely affect their living space or the value of their property.
However, it's easy to see another motive behind NIMBYism: greed. As an
investor of a highly leveraged asset, the average homeowner has every reason to
inflate the price of their home as much as they can. NIMBYism also
contributes to inequality... and perpetuates the two-class society that we see
today.
----
Collapse,
Part 1: Greece. Submitted by Tyler
Durden on 06/22/2015
When systems are broke and broken, collapse is the
only way forward.
----
Goldman's "Conspiracy Theory" Stunner: A Greek Default Is Precisely What The ECB Wants. Submitted by Tyler Durden on 06/22/2015
"... the immediate aftermath of such a non-payment
will be to push bond yields up across the periphery. This rise in the
fiscal risk premium (Exhibit 3) will of course be limited, because the ECB will
likely accelerate QE, including via the Bundesbank. That will push rate
differentials, especially longer-dated ones, against EUR/$. We estimate that
the initial fiscal risk premium effect could be three big figures, while the
subsequent QE effect could be worth around seven big figures"
----
Obama's
"Single-Payer" Monopoly Looms As Healthcare Merger-Mania Heats Up.
Submitted by Tyler Durden on 06/22/2015
It would appear, whether by plan or unintended consequence,
Obama's dream of a single-payer socialized healthcare is getting closer by the
day, and
as WSJ reports, drastically increasing the risk that ObamaCare is
creating oligopolies, with the predictable results of higher costs, lower
quality and less innovation. The five largest commercial health insurers in
the U.S. have contracted merger fever, and if the logic of ObamaCare
prevails, this exercise will conclude with all five fusing into one monster
conglomerate.
----
European
Bonds, Stocks Explode Higher As "Optimism" Trade Gets Second Wind.
Submitted by Tyler Durden on 06/22/2015
Early hope began to fade as nothing appeared to be
settled... and then
The BBC unleahed the ultimate "Greece is rescued" quote from an EU
Minister. Bond risk is now collapsing (PORTUG -55bps!) as Bunds & TSYs
are dumped, Greek stocks are up 9%, and all European Bourses are surging as
even EURUSD is rallying (breaking its earlier correlation)...
----
"Greece
Is Rescued", Economy Minister Tells BBC. Submitted by Tyler
Durden on 06/22/2015. While we have seen countless such reports in recent
weeks and months, and take each and every one with a mine of salt, the reason
ES algos just took out overnight highs was due to a BBC interview - which will
be broadcast "shortly" - in which BBC economic editor Robert
Peston was told by the Greek economic minister George Stathakis that "he
believes Greece's new proposals to balance the government's books have broken
the deadlock with its creditors." He said he expects eurozone
government heads to issue a communique later today that will say there is now a
basis for a formal agreement with Athens to complete the current bailout
programme and release €7.2bn of vital funds.
----
Greek
Banks "Unofficially" Limit Walk-In Withdrawals To €3,000, FT Reports.
Submitted by Tyler Durden on 06/22/2015
"A commercial banker said about €400m had been
withdrawn via ATMs over the weekend, bringing total outflows to €2bn between
Friday and Sunday, a number confirmed by a central bank official. Greek
banks have imposed an unofficial ceiling of €3,000 on walk-in withdrawals, the
commercial banker added."
----
How
Will Russia Respond To Asset Seizure Over Yukos Settlement?. Submitted
by Tyler Durden on 06/22/2015
Senior Russian officials said Kremlin lawyers are studying
France and Belgium’s seizure of Russian government assets in the two
countries as part of a court settlement to compensate shareholders of Yukos,
the privately owned oil company that was shut down by Moscow.
----
Eurogroup
Announces Surprisingly Early Press Briefing - Live Feed. Submitted by Tyler
Durden on 06/22/2015
Speculation is rife as the Eurogroup announces a much
earlier than expected press conference. The exuberant expectations
"priced in" to markets are fading fast as traders fear the short
nature of the meeting combined with dysphoria from Schaeuble suggest no deal
is close and new Greek proposals remain far from adequate for its European
"partners." Local reports suggest this brings into doubt whether
this evening's EU leaders' meeting will go ahead.
----
The
Worst Time In History To Be Invested In Stocks. Submitted by Tyler
Durden on 06/22/2015
Today will go down in history as one of the worst
times in history to be invested in the stock market. Virtually no
one believes this statement. That is why it will prove to be true. Every
valuation method known to mankind is flashing red. A crash is baked in the
cake. Will the trigger be Greek default, a Chinese market crash, a Fed rate
increase, a derivative bet going boom, a Middle East event, someone doing
something stupid in the South China Sea, a Ukrainian eruption, or a butterfly
flapping its wings? When greed turns to fear, for whatever reason, the house
of cards will collapse for the 3rd time in 15 years. Thank the “brilliant”
bankers at the Federal Reserve.
----
Submitted by Tyler
Durden on 06/22/2015 - 07:47
- Mood brightens after latest Greek offer to creditors (Reuters)
- ECB's Nowotny - Greek banks have funding extension for today (Reuters)
- Any Greece deal must match party manifesto, minister says (Reuters)
- Greece says now up to lenders to move on an agreement (Reuters)
- Greece sends wrong documents to monitors... Again (FT)
- U.S. won't let Russia 'drag us back to the past': Pentagon chief (Reuters)
- Belgium unblocks part of Russian diplomatic missions’ frozen accounts (Tass)
- Fed Scoop Heralded Era of Closed Doors for $100,000 Newsletters (BBG)
----
Stocks
Soar, Germany's Dax Set For Biggest Gain In Three Years On Greek Deal
"Optimism". Submitted by Tyler
Durden on 06/22/2015
today is Friday taken to the nth degree, with the
markets having already declared if not victory then the death of all Greek
"contagion" leverage, following news that a new Greek proposal was
sent yesterday (which as we summarized does
not include any of the demanded by the Troika pension cuts), ignoring news that Greece had again
sent Belgium the wrong proposal which the market has taken as a sign of
capitulation by Tsipras, and as a result futures are surging higher by nearly
1%, the German DAX is up a whopping 3.1%, on track for the biggest one day gain
in three years, Greek stocks up over 8%, German and US Treasurys sliding while
Greek and peripheral bonds are surging.
----
WASHINGTON BLOG
The theme this week is collapse. It’s a big, complex
topic because there are as many types of collapse as there are systems. Some
systems appear stable on the surface but collapse suddenly; others visibly
decay for decades before finally slipping beneath the waves of history, and
some go through stages of collapse.
Which brings us to Greece.
I have written extensively
about Greece and the doomed financial arrangement known as the euro for many
years–for example: Greece,
Please Do The Right Thing: Default Now (June 1, 2011).
When Debt
is More Important Than People, The System Is Evil (February 18, 2012)
Greece
at the Crossroads: the Oligarchs Blew It (January 27, 2015)
Greece
and the Endgame of the Neocolonial Model of Exploitation(February 19, 2015)
When Europe
Gets Greece’s Jingle Mail: Dealing with Default (May 15, 2015)
----
----
NOTICIAS EN SPANISH
----
----
----
----
----
No hay comentarios:
Publicar un comentario