JUL 24 SIT EC y POL
Remember: all that comes inside brackets are my comments. Hugo
Adan
ZERO HEDGE
Paul
Craig Roberts: The Eroding Character Of The American People. by Tyler
Durden on 07/24/2015
The question is: why do Americans not only sit silently
while the lives of innocents are destroyed, but also actually support the
destruction of the lives of innocents? Why do Americans believe
"official sources" despite the proven fact that “official sources”
lie repeatedly and never tell the truth? The only conclusion that one
can come to is that the American people have failed. We have failed Justice.
We have failed Mercy. We have failed the US Constitution. We have failed Truth.
We have failed Democracy and representative government. We have failed
ourselves and humanity. We have failed the confidence that our Founding Fathers
put in us. If we ever had the character that we are told we had, we have
obviously lost it. Little, if anything, remains of the "American
character."
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The
Eurasian Big Bang: How China & Russia Are Running Rings Around Washington.
Submitted by Tyler Durden on 07/24/2015
Tehran, Beijing, Moscow, Islamabad, and New Delhi have
been actively establishing interlocking security guarantees. They have been
simultaneously calling the Atlanticist bluff when it comes to the endless
drumbeat of attention given to the flimsy meme of Iran’s "nuclear weapons
program." And a few days before the Vienna nuclear negotiations
finally culminated in an agreement, all of this came together at a twin
BRICS/SCO summit in Ufa, Russia -- a place you’ve undoubtedly never heard of
and a meeting that got next to no attention in the U.S. And yet sooner
or later, these developments will ensure that the War Party in Washington and
assorted neocons (as well as neoliberalcons) already breathing hard over the
Iran deal will sweat bullets as their narratives about how the world works
crumble.
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The
End Of The Supercycle? Commodity "Capitulation" Arrives. by Tyler
Durden on 07/24/2015
In a note by BofA's Michael Hartnett, the bank looks at the
latest EPFR fund flows and concludes that the wave of commodity
"capitulation" revulsion selling has finally arrived.
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The
FBI And DOJ Get Involved: Hillary Clinton Sent Confidential Emails From Her
Personal Email Account. Submitted by Tyler
Durden on 07/24/2015
WSJ reports
that according to an internal government review Hillary Clinton, as former
Secretary of State, "sent at least four emails from her personal
account containing classified information during her time heading the State
Department."And now, at long last, it appears that both the FBI and
the DOJ are finally getting involved.
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The
Casino-fication Of Markets Is Pervasive & Permanent. Submitted by Tyler
Durden on 07/24/2015
Here we now call market deflation by the sobriquet
“volatility”, as in “major market indices suffered from volatility today, down
almost one-half of one percent”, where a down day is treated as something
akin to the common cold, a temporary illness with symptoms that we can shrug
off with an aspirin or two. You can’t be in favor of volatility, surely.
It’s a bad thing, almost on a par with littering. No, we want good things
and good words, like “wealth effect” and “accommodation” and “stability” and
“price appreciation”. As President Snow says in reference to The Hunger
Games version of a political utility, “may the odds be always in your favor”.
Who doesn’t want that?
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Howard
Marks Interviewed: "There’s No Free Market Today". by Tyler
Durden on 07/24/2015
"If investors want complete safety, they can't get
much income, and if they aim for high income, they can't completely avoid risk.
It’s much more challenging today with rates being suppressed by governments.
This is one of the negative consequences of centrally administered economic
decisions. People talk about the wisdom of the free market – of the
invisible hand – but there’s no free market in money today. Interest rates are
not natural."
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5
Things To Ponder: Shades Of Risk. by
Lance Roberts via STA Wealth Management . Submitted by Tyler
Durden on 07/24/2015
"It wan't raining when
Noah built the ark." Howard Ruff .
Don’t keep calm but Prepare yourself!
The markets have continued to deteriorate, along with a vast majority
of internal measures. The question is now, and is the subject of this weekend's
reading list, is the correction over? Or, is this just the beginning of
something bigger?
1) The
Thinnest New High In Stock Market History? by
Dana Lyons via Dana Lyon's Tumbler
Read
Also: What Do 1987, 2003, 2009
And 2015 Have In Common by
Chris Ciovacco via Ciovacco Capital
2) Doubling
Down On A Summer Correction by
Michael Gayed via MarketWatch
Read
Also: What's The Biggest
Risk To Investors by Ben
Carlson via A Wealth Of Common Sense
3) The Nasdaq
Is Flashing A Dot-Com Era Signal by
Anthony Mirhaydari via The Fiscal Times
Read
Also: The Market Doesn't Care
About Your Opinions by Joe
Calhoun via Alhambra Partners
4) Magical
Thinking Divorces Markets From Reality by
James Grant via Financial Times
Read
Also: Market Deterioration
& Full Cycle Investing by Dr. John Hussman via
Hussman Funds
5) China's
Record Dumping Of US Treasuries by
Tyler Durden via ZeroHedge
Read
Also: Investors Can't See
Through Market Froth by
John Plender via FT
….
Other
Interesting Reads
Oil Warning:
Crash Could Be Worst In 45 Years by
Tom Randall via Bloomberg
….
The Buffett
Ratio Is Bearish by
Ed Yardeni via Dr. Ed's Blog
….
A Warning Signal
For Growth Investors by
Cam Hui via Humble Student Of The Market
….
Are Stocks
Overvalued? A Survey Of Equity Valuation Models by
Chris Brightman via Research Affilliates
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The Death of
Gold... Or Not!. Submitted by Tyler
Durden on 07/24/2015
China will be a net buyer, and a net importer of physical gold for
years to come. In and of itself that won’t necessarily cause a sharp rally in
gold prices anytime soon, but gold acquisition from the Chinese state and her
citizens, as well as emerging market central banks the world over will continue
to provide support for the physical gold market. Those that have sold
gold in the past few days (and there have been plenty in the ETF and futures
markets) as a result of the “disappointing” number out of China may have just
caused the capitulation event that typically marks the bottom of any bear
market.
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Gold
Spikes Back Above $1100, Bitcoin Jumps. Submitted by Tyler
Durden on 07/24/2015
Gold is jumping
after the overnight double flash-crash...testing back towards $1100... And another
alternate currency is ripping. Bitcoin is back up to pre-"Greece is
Fixed" levels...
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Copper,
China And World Trade Are All Screaming That The Next Economic Crisis Is Here. by
Michael Snyder via The Economic Collapse blog. Submitted by Tyler
Durden on 07/24/2015
If you are looking for a “canary in a coal mine” type of warning for
the entire global economy, you have a whole bunch to pick from right now.
In recent months, I have been writing article after article detailing how the exact same patterns that
happened just before the stock market crash of 2008 are playing out once
again. We are watching a slow-motion train wreck unfold right before
our eyes, and things are only going to get worse from here.
Copper is referred to as “Dr. Copper” because it does such an excellent
job of indicating where economic conditions are heading next. We saw this
in 2008, when the price of copper started crashing big time in the months
leading up to the stock market implosion. Well, now copper is crashing
again. Just check out this chart. The following is what Goldman Sachs is saying about
copper…
It's not just Copper though... Year-to-Date, commodities are ugly
(except higher gas prices!!)
It is funny that Goldman mentioned China so prominently. Even
though China’s fake GDP figures say that everything is fine over there, other
numbers are painting a very dismal picture.
There is no hiding the fact that trade activity in China and in most of
the rest of the planet is slowing down. In fact, world trade volume has
now dropped by the most that we have seen since the last global
recession. The following comes from Zero Hedge…
As goes the
world, so goes America (according to 30 years of historical data), and so when
world trade volumes drop over 2% (the biggest drop since 2009) in the last six
months to the weakest since June 2014, the “US
recession imminent” canary in the coalmine is drawing her last breath…
As Wolf Street’s
Wolf Richter adds, this isn’t stagnation or sluggish growth. This is
the steepest and longest decline in world trade since the Financial Crisis.
Unless a miracle happened in June, and miracles are becoming exceedingly scarce
in this sector, world trade will have experienced its first back-to-back
quarterly contraction since 2009.
For those that don’t know, Henry Blodget is definitely not a
bear. In fact, he is one of Wall Street’s biggest cheerleaders.
So for Blodget to suggest that we could see the stock market drop by
half is a really big deal.
The
closer that we get to this next crisis, the clearer that everything is
becoming.
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Can
We All Stop Being Surprised By Company Earnings "Surprises"?. by Tyler
Durden on 07/24/2015
According to the FT, S&P 500 earnings are on track to decline by
about 2.6% year-over-year which is actually about 2% better than what analysts
were expecting at the end of June. So this is turning out to be a better
earnings season than must expected? Not really. This is just a
continuation of the game where consensus expectations are moved lower and lower
until companies can, you guessed it, “surprise” to the upside. And its
not just for this quarter that growth expectations are taken lower, this
happens for growth expectations multiple years out.
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Stocks
Are Not Cheap (And 'Growth' Won't Help). Submitted by Tyler
Durden on 07/24/2015
As commodities carnage and credit cracks, talking heads remain
intentionally ignorant in there sheep-like mantra to buy and hold stocks no
matter what. Ever hopeful that 'growth' and the 'future' will fix any and all
over-valuations, even with the current record low number of stocks trading
'cheap', they continues to ignore the facts. As Professor Bruce Greenwald
recently told Goldman Sachs, "if a cyclical is trading expensively,
it doesn't really matter how fast it is growing because historically growth
hasn’t created value for cyclicals. Absent growth, value cyclicals don’t
look like good investments."
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Earnings
And Guidance Suddenly Matter? Say It Ain't So... Submitted by Tyler
Durden on 07/24/2015
We are seeing a kind of flight forward by investors – promises of
future returns that may or may not eventuate continue to be highly rewarded –
no price seems too high. This is actually a fairly typical bubble
phenomenon. It is impossible to say for how long it will continue and how
far it will go, but it is possible to say how it will end: in tears,
especially for Johnny-come-lately investors.
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US
Manufacturing PMI Hovers Near 19 Month Lows, Employment Tumbles Amid
"Worrying Undercurrents". Submitted by Tyler
Durden on 07/24/2015
Despite a very marginal improvement (from 53.6 to 53.8), Markit US
Manufacturing PMI remains stubbornly stuck at 19-month lows, unable to bounce
from the weathewr-strewn, port-strike-ridden weakness of Q1. As Markit notes, "a
modest upturn in the headline manufacturing PMI belies some more worrying
undercurrents which point to potential weakness in coming months,"
and the slump in unemployment index suggests things are not well at all...
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A
Tale Of Two Nasdaq Extremes: Amazon Up 17%, Biogen Down 17%. by Tyler
Durden on 07/24/2015
While Amazon is
up 17%, the Nasdaq party is being spoiled by the 17% collapse in Biogen
following its aggressive guidance cut. As we noted previously, Biogen is the
4th most profitable biotech company and this 'scare' is weighing heavy on Janet
Yellen's favorite short industry as the entire Biotech index is sliding.
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"The letter has been sent." Greece formally invites the
troika back to Athens sparking anger, resentment among a conquered people.
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Add
Junk Bonds To The Growing Pile Of Concerns. Submitted by Tyler
Durden on 07/24/2015
Because of their credit issues, these bonds often trade more closely
with equities than they do with base interest rates. Occasionally, however,
junk bonds and stocks will diverge with one another. Such a divergence is
occurring at the moment. It is often suggested that when the bond and
stock markets diverge, the bonds typically prove to be correct, i.e., the
stock market usually ends up going the way of the bonds. Is there evidence to
back that up? According to our research there is, and with junk bond yields at
s-x month highs while the S&P is within 1% of record highs, for stock
bulls, that isn’t necessarily good news.
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In
Latest Market Rigging Scandal, Wall Street Now Sued For Treasury Market
Manipulation. Submitted by Tyler Durden on 07/24/2015
"Defendants
used electronic chatrooms, instant messaging, and other electronic and
telephonic methods to exchange confidential customer information, coordinate
trading strategies. Traders at some of these primary dealers talked with
counterparts at other banks via online chatrooms and swapped gossip."
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Submitted by Tyler Durden on 07/24/2015 - 07:41
- Gunman kills two, wounds seven in Louisiana theater before killing himself (Reuters)
- Health insurer Anthem to buy Cigna in $54.2 billion deal (Reuters)
- Murder, Poisoning, Raids: It’s Election Season in Russia (BBG)
- Lagarde Push for Greece Debt Relief Challenges Merkel (Bloomberg)
- Fund Boss’s Gamble on Health Law Pays Off Big (WSJ)
- Wall Street Cranks Up Its Outlook for Amazon After It Delivers Monster Earnings Report (BBG)
- China's Richest Man Marks Push Into Hollywood With Jake Gyllenhaal Movie (BBG)
- West Africa's alarming growth industry - meth (Reuters)
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Commodity
Clobbering Continues As Amazon Lifts Futures. Submitted by Tyler
Durden on 07/24/2015
After yesterday's latest drop in stocks driven by "old
economy" companies such as CAT, which sent the Dow Jones back to red for
the year and the S&P fractionally unchanged, today has been a glaring
example of the "new" vs "old" economy contrast, with
futures propped up thanks to strong tech company earnings after the close,
chief among which Amazon, which gained $40 billion in after hours trading and
has now surpassed Walmart as the largest US retailer. As a result Brent crude
is little changed near 2-wk low after disappointing Chinese manufacturing data
fueled demand concerns, adding to bearish sentiment in an oversupplied mkt. WTI
up ~26c, trimming losses after yday falling to lowest since March 31 to close
in bear mkt. Both Brent and WTI are set for 4th consecutive week of declines;
this is the longest losing streak for Brent since Jan., for WTI since March.
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INFORMATION
CLEARING HOUSE
The
Eurasian Big Bang
By Pepe Escobar
By Pepe Escobar
How China and Russia Are Running Rings Around Washington.
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The
Iran Deal Reality
By Margaret Kimberley
By Margaret Kimberley
All of the treaties in the world mean little when there is only one
superpower.
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Is
the 'Military Option' on Iran Off the Table?
By Ray McGovern
By Ray McGovern
Israeli media have been pressing hard to restore the military option to
its accustomed place "on the table."
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Netanyahu:
Unserious Leader of a Fearful Nation
By Jeffrey Rudolph
By Jeffrey Rudolph
Netanyahu is a master at exploiting fear in a particularly fearful
society, the following points demonstrate that thinking people can ignore his
claims dealing with Iran.
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West
Flirts With Fascism – Again
By Finian Cunningham
By Finian Cunningham
Washington has a long and bloody history of sponsoring fascist
regimes.
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The
Eroding Character of the American People
By Paul Craig Roberts
By Paul Craig Roberts
There is no freedom, no democracy, no accountability of government to
the people
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Greece
– Rescue Without Debt
By Peter Koenig
By Peter Koenig
The Greek Parliament approved today – troika “bail out” of € 86
billion. Not one euro of that money would flow into the Greek treasury, to
revive its economy.
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Inequality is not inevitable but a choice – the cumulative result of
unjust policies and misguided priorities.
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GLOBAL RESEARCH
The
Shoot-Down of Flight MH17: New York Times Enforces Ukraine ‘Group Think’. [
UN will vote on this issue on Jul 29.. then we’ll see
if UN is en favor of NUKE war or in favor of peace.. So far the UN-ICC didn’t sanction crimes against humanity committed by
US-allies, Israel nor Saudis ]
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NEWS
IN SPANISH
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GRECIA. Solo
EE.UU. ha firmado un acuerdo similar. La Grecia de Syriza firma un pacto
militar con Israel. Ben Norton
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Grecia: Los buitres multinacionales se
apiñan alrededor de Grecia. Aeropuertos, puertos, complejos turÃsticos,
recursos energéticos y servicios públicos
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[ La bandera de Estados
Unidos siempre flameo en Guantanamo, en
esa vergüenza de las torturas y crÃmenes de lesa humanidad. Real respeto a la
dignidad del pueblo cubano supone cerrar la prisión de Guantanmo y devolver esas
tierras a Cuba. ]
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Cuba. Cuba y Palestina
son 26 de Julio. Ni bloqueo, ni ocupación, soberanÃa nacional. Ramón
Pedregal
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Europa. Una Europa alemana? . Daniel Innerarity
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RT-SPUTNIK
& LATEST SHOWS-
Turkey attacks
Kurdish militia & ISIS positions – PM's office [IF INSIDE SYRIA the
target is Assad ] http://www.rt.com/news/310721-turkey-attacks-isis-kurds/
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Israeli attack
on Iran would be 'huge mistake with consequences' – Kerry [There are intentions! ]
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VOLTAIREnet.org
François Hollande, Israël,
and the atomic bomb. by Thierry Meyssan
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First consequences of the
5+1 agreement. by Thierry Meyssan
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PRESS
TV
‘Crimea’s
reunion with Russia legal’. Sat Jul 25, 2015 The Russian premier says the
separation of the Crimea region from Ukraine and its decision to rejoin Russia
are lawful.
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Iran
raps UNSC inaction on Palestine. Sat Jul 25, 2015 The Iranian envoy to the UN
slams the Security Council’s lack of political will on Palestine.
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US
to train more Ukrainian troops. Sat Jul 25, 2015 The State Department says
the US military will soon start training Ukrainian armed forces which are
engaged in a conflict with pro-Russia fighters.
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Iran
FM dismisses Kerry remarks at Senate. Sat Jul 25, 2015 Zarif dismisses as
“incomplete hints” recent remarks made by his US counterpart about talks
between Iran and the P5+1.
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