JUN 24 SIT EC y POL
ZERO HEDGE
Nearly
Half Of Americans Don't Trust Obama To "Do The Right Thing". Submitted
by Tyler Durden on 06/24/2015
Needless to say, not everyone is particularly enamored with
US foreign policy under the Obama administration...
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Obamatrade
Passes, The Corporations Win Again... And Now They Gloat. Submitted by Tyler
Durden on 06/24/2015
"Washington broke arms and heads to get that 60th
vote—not one to spare—to impose on the American people a plan which imperils
their jobs, wages, and control over their own affairs. It is remarkable
that so much energy has been expended on advancing the things Americans oppose,
and preventing the things Americans want. The same routine plays out over and
again. We are told a massive bill must be passed, all the business lobbyists
and leaders tell how grand it will be, but that it must be rushed through
before the voters spoil the plan. And when ordinary Americans who never asked
for the plan, who don’t want the plan, who want no part of the plan, resist,
they are scorned, mocked, and heaped with condescension."
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Investors Sue Wall Street, Markit For Conspiring To Monopolize CDS Market. S- by Tyler Durden on 06/24/2015
With a DoJ probe
having predictably gone nowhere, a group of pensioners and retirement funds
are suing Wall Street and Markit for colluding to monopolize the CDS market.
Amusingly, Citadel has been subpoenaed to discuss how it was shut out of
creating a CDS trading platform by the "oligopolistic" activities of
TBTF banks, even as the firm looks set to dominate the market for IR swaps.
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FBI's
McCarthy-esque Files Expose Obama Advisor Jarrett's Communist Roots. Submitted
by Tyler Durden on 06/24/2015
Echoing the era of
McCarthyism, Federal Bureau of Investigation (FBI) files obtained
by Judicial Watch reveal that the dad, maternal grandpa and
father-in-law of President Obama’s trusted senior advisor, Valerie Jarrett,
were hardcore Communists under investigation by the U.S. government.
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Carl
Icahn Crushes CNBC's Perma-"Buy Stocks"-Bull$hitness Submitted
by Tyler Durden on 06/24/2015
We suspect this will be the last time billionaire investor
Carl Icahn is invited on CNBC. Having sold CNBC darling NFLX, he crushed the
two main memes of CNBC's raison d'etre - buy stocks, because where else are
you going to put your money - "what's better - making 2% or losing
30% as people did in 2008...right now it's an extremely dangerous time;"
and the next leg of this bull market will come from an improving real economy -
"the economy is not picking up, it is artificial due to low interest
rates." The market has way over-estmated how long this will last,
Icahn concludes, "keep your powder dry - why do have to own anything
risky? It's just nonsensical."
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Greek
Delegation Leaves EU Commission: Greek Non-Deal Status Update. S- by Tyler
Durden on 06/24/2015
So much for a Greek deal getting "done" today, as
the market had priced in for the nth countless time on Monday. Here is what
happened moments ago according to Bloomberg and Reuters:
- GREEK DELEGATION LEAVES EU COMMISSION
- SCHAEUBLE SEES INSUFFICIENT PROGRESS FOR GREECE DEAL TODAY
- SCHAEUBLE SAYS HE DOESN'T HAVE MUCH NEW TO SAY ON GREECE
And so on, until the next round of buying ahead of the next
rumor, until the next denial launches stocks even higher, ahead of more hopes
of an imminent deal launches even more buying program, until the next round of
rumors leds to new all time highs and so on, and so on...
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Greece
Rejects "Totally Unacceptable" IMF Counterproposal Demanding Pension
Cuts: Full Redline Comparison. Submitted by Tyler
Durden on 06/24/2015
The renewed optimism that's surrounded Greek debt
negotiations since Monday evening evaporated like deposits on a hot summer day
in Athens this morning as the IMF has indicated it will stick to its
"red lines" on pension cuts and the VAT, meaning PM Alexis
Tsipras will either surrender unconditionally or embrace an EMU exit.
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"When
The Unwind Comes, It Comes Sharply As The Exit Door Is Tiny". S-
by Tyler Durden on 06/24/15
“There are three things that matter in the bond market
these days: liquidity, liquidity and liquidity. When the unwind comes, like
we’ve seen in the past few months, it comes abruptly and sharply as the exit
door is tiny"...
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Lying
CEOs Crash Their Stocks (So Will The Fed). Submitted by Tyler
Durden on 06/24/2015
CEOs are not the most trustworthy figures in society. They
will lay off thousands of employees to beat analysts' estimates, and yet they
have no trouble looting the stock to pay themselves millions while the
company loses money. However, one theme that keeps coming up is that unethical
behavior has a price tag. With this in mind, consider the implications when
the New York Fed tells us that economic activity declined because of the weather. Now that it's summer, it's not
clear how cold weather is interfering. Perhaps the Fed has a South Pole
subsidiary? When will the market crash and the Fed be replaced for
lying about poor performance?
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"Angry
And Embarrassed" France Calls US Spying "Unacceptable", Demands
US "Repair Damaged Relations". Submitted by Tyler
Durden on 06/24/2015
Angry and embarrassed, France summoned the U.S.
ambassador Wednesday to respond to the revelations by WikiLeaks that the U.S.
National Security Agency eavesdropped on three successive French presidents and
other top officials. Prime Minister Manuel Valls said the U.S. must do
everything it can, and quickly, to "repair the damage". France
will not tolerate any action threatening its security and fundamental
interests."
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"Nailed It".
Submitted by Tyler
Durden on 06/24/2015.
Presented with
little comment aside to ask - why does anyone listen to these idiots
anyway?
Bloomberg on Q1 2015
US-GDP growth. Consensus Estimate
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The
Only Good Deal For Greece Is NO Deal. Submitted by Tyler Durden on 06/24/2015
"We've won a few months' respite but the problem
will come back," France's Marine Le Pen said of Greece... "Today
we're talking about Grexit, tomorrow it will be Brexit, and the day after
tomorrow it will be Frexit." We shouldn’t need Le Pen to voice the obvious. But that no other
‘leader’, save for Nigel Farage, puts it into these crystal clear terms, does
tell us a lot about all other European leaders. And unfortunately that includes
Alexis Tsipras. Though we hold out some hope for him yet. Here’s hoping he will
not sign that deal, whichever it may be in the end, and thereby set in
motion the disintegration of the unholy Union.
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Excluding
Obamacare And The "Harsh Winter", Q1 GDP Tumbled -1.4%. S- by Tyler
Durden on 06/24/15
If one excludes just
three items: Obamacare, the "harsh winter", and near record inventory
re-stocking in anticipation of a spending deluge that never comes, Q1 GDP would
have tumbled nearly 2.0%.
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Putin
Strikes Back: Cuts Ukraine Gas Discount. Submitted by Tyler Durden on 06/24/2015
We
had wondered at the relative lack of response by Russia to extended sanctions
and asset freezes in Europe and now we see the first major move. Having
confirmed new counter-sanctions this morning, Russian President Vladimir Putin
just threw The IMF (US taxpayers), and Ukraine's 'American' finance minister
under the bus... "Moscow can no longer give Ukraine gas discounts
due to the current drop in oil prices." The price must be on level
of other countries like Poland, he added.
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Final
Q2 GDP Revision Confirms 3rd Negative GDP Quarter Of The "Recovery",
Inventory Build Up Flashing Red.
Submitted by Tyler Durden on 06/24/2015
Just as consensus
had expected, after printing at -0.7% in the first revision to Q1 GDP, the
final revised GDP print for the March 31-ended quarter came in at -0.2%,
confirming the third negative GDP quarter in one recovery cycle since 2011 (all
of which have come in the first quarter of the year as global winter cooling
fans will have you know)- the first time this has happened since the 1950s.
[ Still everything is OK ?..
to whom? .. to big Corporation and bank owners of course ]
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Saxobank
CIO Explains Why The Greek 'Problem' Won't Be Solved. S- by Tyler
Durden on 06/24/2015
"Even if a
deal between Greece and its creditors is struck, the problem isn't
solved," warns Saxobank
CIO Steen Jakobsen, which leaves the door open to a snap election being called
shortly and a referendum on continued membership of the EU just weeks later. Debt
refinancing will be the first issue, with the country needing a significant
discount. But how can the country secure that, asks Jakobsen, when the
government is unwilling to bring in significant reforms?
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COLLAPSE
PART 3: No Institutional Path To Contraction. by
Charles Hugh-Smith of OfTwoMinds blog
Submitted by Tyler Durden on 06/24/2015 [Here only extracts ]
Collapse is not
an event, it is a process. As a result, systemic collapse doesn't lend itself to statistical
calculations of probability. Processes are driven by dynamics, not odds.
If debt and leverage expand while collateral and income decrease, the
system becomes systemically more fragile and prone to destabilization. The
financial system is dynamic and has multiple inputs; on its current setting,
the system will become increasingly fragile. If alternative policies were put
in place, it could become increasingly resilient.
Systems with no conceptual or practical pathway to contraction and
reduced complexity/fixed costs are more at risk of collapse than systems with
institutional pathways for successful reductions in debt, credit, income, fixed
costs and complexity.
How many institutions have proven pathways for becoming smaller,
leaner, and flatter in organizational structure? Very few, as the
default setting for the past 60 years has been expansion and more of
everything. Less of everything does not compute.
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Submitted by Tyler Durden on 06/24/2015 - 07:37
- Greece Handed New Terms as Tsipras Approaches Decision Time (BBG)
- As U.S. Probes $12.7 Trillion Treasury Market, Trader Talk Is a Good Place to Start (BBG)
- Signs Swedish QE Backfiring as Liquidity Evaporates (BBG)
- ECB approves ELA funding requested by Greece- banking source (Reuters)
- Greek Millennials Can't Find Work But Actually Want to Keep the Euro (BBG)
- Greek deal or not, the euro is now a different beast (Reuters)
- Promoter’s Arrest Sheds Light on Cynk’s $6 Billion Surge (BBG)
- The World's Biggest Economies Are About to Feel the Impact of China's Slowdown (BBG)
- Senate Clears Trade Bill’s Way to Passage (WSJ)
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Buy
Programs Stumble After Greek Deal Proposal Goes Back To Drawing Board In Last
Minute. Submitted by Tyler Durden on 06/24/2015
And it started off all so well: the market, blissfully ignoring what we
wrote just yesterday in Why
The IMF Will Reject The Latest Greek Proposal In Just Two Numbers, was in
full blown levitation mode overnight when it sent Japanese stocks to their
highest close since 1996 (pre dot com) and with the Chinese central bank doing
its best to keep levitating local stocks away from the abyss, pushing the
SHCOMP up another 2.5%. Euro Stoxx 50 went from flat to down 1% and is
bouncing. As BBG's Richard Breslow adds, predictably, the market is taking this
as a ploy, not an end game. Of course, this is precisely the "Bear Stearns
is fine" conventional wisdom that Cramer was spewing days before Bear
failed because nobody could fathom how anyone can conceive of a worst case
scenario. Only it isn't nobody: we reported before of a Goldman's
"Conspiracy Theory" Stunner: A Greek Default Is Precisely What The
ECB Wants.
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"No
Deal": Tsipras Says Creditors Did Not Accept Greek Proposal. Submitted by Tyler
Durden on 06/24/2015
Who could have possibly foreseen that the IMF would throw up all over
the Greek "proposal"... aside from this post here "Why
The IMF Will Reject The Latest Greek Proposal In Just Two Numbers"
yesterday afternoon of course. In any event, moments ago Bloomberg
reported that just as we wrote here yesterday afternoon, there is no deal
and that Greek PM Alexis Tsipras told his associates that creditors not
accepting equivalent fiscal measures has never happened before, according to a
Greek govt official, who asked not to be named in line with policy. Creditors
“not accepting parametric measures has never happened before. Neither in
Ireland, nor in Portugal, nor anywhere. This strange stance can hide two
scenarios; they either don’t want an agreement or serve specific interests
in Greece.”
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WASHINGTON
BLOG
The Day the Earth Died. Posted on June 24, 2015 by Eric Zuesse.
And Why Sierra Club, Greenpeace, Etc., Were Silent About It
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In distilling the vast literature on collapse into nine dynamics, I am
drawing upon many other authors’ work, including:
The Collapse of Complex Societies
The Great Wave: Price Revolutions and the Rhythm of History
The Long Emergency: Surviving the End of Oil, Climate Change, and Other Converging Catastrophes of the Twenty-First Century
The Shock Doctrine: The Rise of Disaster Capitalism
Overshoot: The Ecological Basis of Revolutionary Change
The Upside of Down: Catastrophe, Creativity, and the Renewal of Civilization
Collapse: How Societies Choose to Fail or Succeed
The Long Descent: A User’s Guide to the End of the Industrial Age
Reinventing Collapse: The Soviet Example and American Prospects
The Collapse of Complex Societies
The Great Wave: Price Revolutions and the Rhythm of History
The Long Emergency: Surviving the End of Oil, Climate Change, and Other Converging Catastrophes of the Twenty-First Century
The Shock Doctrine: The Rise of Disaster Capitalism
Overshoot: The Ecological Basis of Revolutionary Change
The Upside of Down: Catastrophe, Creativity, and the Renewal of Civilization
Collapse: How Societies Choose to Fail or Succeed
The Long Descent: A User’s Guide to the End of the Industrial Age
Reinventing Collapse: The Soviet Example and American Prospects
Here are the
nine dynamics of decay that lead to collapse:
1. complacency and intellectual laziness
2. profound political disunity
3. rise of unproductive complexity
4. those bearing the sacrifices opt out/quit
5. decay of effective leadership
6. rise of bread and circuses social welfare and entertainment
to distract/placate restive citizenry
7. decline of wealth-producing capacity–status quo living off financial
trickery
8. sclerosis–status quo controlled by vested interests
9. resource depletion/environmental damage
All of these
dynamics are currently in play around the globe.
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INFORMATION
CLEARING HOUSE
ISIS Video
Shows Horrific Murder Of 16 People . Video In the first round of executions, five
terrified men can be seen being lowered into the water while locked in a cage
together.
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The West’s
Moral Panic Behind The Threat Of Radical Islam. By Scott Burchill. Governments contrive moral panics to
consolidate domestic political support. An alleged “existential” foreign threat
is particularly useful.
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NOTICIAS EN SPANISH
Hay tres millones de desplazados en Irak. Gustavo Gerrtner. La cifra llegará a los 10 millones, casi un
tercio de la población, hacia fin de año
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Las ideas comunistas en el mundo de hoy. Armando B. Ginés
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El regreso del activismo militante. Pepe Gutiérrez-Álvarez
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RT-SPUTNIK & LATEST SHOWS
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PRESS TV
Russia
militants vow allegiance to ISIL.
Wed Jun 24, 2015 Takfiri militants in four regions of Russia's Caucasus
pledge allegiance to ISIL.
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Syria
forces secure oil field vicinity. Wed Jun 24, 2015 The Syrian Army and
pro-government forces secure the area surrounding an oil field near the ancient
city of Palmyra.
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‘Up
to 2k Russians fighting for ISIL’. Wed Jun 24, 2015 An official says up
to 2,000 Russians are fighting in the ranks of the ISIL terrorist group.
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