AUG 17 SIT EC y POL
ZERO HEDGE
Back in June we
showed you "who" really runs your state. By
"who" we actually meant "what company", but since
corporations are now people, we suppose it’s all the same.
The map showed the largest corporations by revenue in each
state and as we noted at the time, there were some surprises (Chevron, not
Apple runs California; Costco, not Microsoft runs Washington, for
example).
Below, we present a similar graphic only this time, it’s market cap rather than revenue that’s
in focus and as you can see, some of the surprises have disappeared. [SEE picture by
pressing the title in blue ]
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Caught
On Tape: Native Americans Chase John McCain Off Navajo Land. By Derrick Broze via TheAntiMedia.org, Submitted
by Tyler Durden on
08/17/2015
As McCain attempted a backdoor exit, the activists chanted
in the hallway with their arms linked. Once they noticed McCain’s
convoy making an escape, the group began chasing on foot. They were temporarily
blocked by law enforcement but eventually made their way out of the
building, chasing the cars as they exited the Navajo nation.
…
Why McCain escape? Because he denied the right of the
NAVAJOS to the waters of Colorado River.
McCain has recently received
criticism for his role in passing the Southeast Arizona Land Exchange bill as
part of the National Defense Authorization Act of 2015. The law allows for the
sale of the Oak Flat campground to international mining company, Rio Tinto. Oak
Flat is historically important to the San Carlos Apache.
“The Apache Stronghold formed in
December in response to a last-minute legislative provision included in the
the National Defense Authorization Act of 2015. The provision at issue in the
annual Defense Department funding bill grants Resolution Copper Mining, a
subsidiary of Australian-English mining giant Rio Tinto, a 2,400-acre land
parcel which includes parts of the Tonto National Forest, protected national
forest in Arizona where it will create the continent’s largest copper mine.
This is why the
NAVAJO activists were holding signs that read “McCain = Indian
Killer” and “McCain’s Not Welcome Here.” Eventually, the activists made their
way inside the building, locking arms and chanting, “Water is life!”
[ So, McCain was not only war criminal in Viert Nam.. he also wants
to exterminate the Navajo nation in our country. La
vieja tradicion de los Pilgrims: “expropiacion y crimenes” regreso con McCain ]
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Officials
Admit ISIS, Like Al-Qaeda, Was A Creation Of US Foreign Policy. by
Mike Krieger via Liberty Blitzkrieg blog. Submitted by Tyler
Durden on 08/17/15
“The Americans allowed ISIS to rise to power because
they wanted to get Assad out from Syria. But they didn’t anticipate that the
results would be so far beyond their control.” This was not, then,
a US intelligence failure as such. Rather, the US failure to to curtail the
rise of ISIS and its likely destabilization of both Iraq and Syria, was not due
to a lack of accurate intelligence? - ?which was abundant and precise? - ?butdue
to an ill-conceived political decision to impose ‘regime change’ on Syria at
any cost. We can’t come up with any other logical conclusion. Either way,
such people have no business running the affairs of these United States,
and their actions are merely increasing instability and violence across
the planet. The longer they remain in charge with no accountability,
the more dangerous this world will become.
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The
Fed Is Scared To Raise Rates, Ron Paul Warns "Everything Is Too
Vulnerable". Submitted by Tyler
Durden on 08/17/2015
The Fed is too scared to raise interest rates in the
middle of an already weak recovery and risk sending the U.S. economy back into
recession, or worse... The Fed chief "does not want to be responsible
for the depression that I think we’ve been in the midst of all along,"
Paul added,"everything is vulnerable, so we’re living in very dangerous
times."
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It's human nature for us to want to keep our wealth close at
hand. Trouble is, you have all your wealth in one jurisdiction, and should that
jurisdiction find itself in an economic crisis, all that “diversification” will
be seriously at risk. If we’re being really truthful with ourselves, governments
pose a greater threat than the average thief, as they can steal legally. Much
of the world has gone on a massive spending spree and has, in effect, used a
credit card to do so. Soon, that bill will need to be paid and the
jurisdictions that are in debt will unquestionably be revealed to be insolvent. The
economic crisis, when it hits, will be sudden and will be devastating.
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CARLYLE’S CLAREN ROAD SAID TO SEE WITDRAWALS OF
48% OF ASSETS
[ Carlyle was to Company founded by Bush family and the Saudi family
of Bin Laden .. these and other Saudis were responsible for the terrorist
attack in Sep 11, 2001.., So instead being indicted and confiscated by American
Courts .. they still running speculation business in America. .. The Pathetic business
of impunity & terrorism .. This
opens the other side of terrorism: the current
neocon business of terrorism. This
deserves to be investigated.. up to the ISIS stage ]
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8
Reasons Why The Telegraph Thinks The Market Doomsday Clock Is One Minute To
Midnight. Submitted by Tyler Durden on 08/17/2015 [ UK -the closest US
ally- is falling down ]
"Time is now rapidly running out," warns The
Telegraph's John Ficenec as the British paper takes a deep dive into
the dark realities behind the mainstream media headlines continued faith in
central planning. Sounding very "Zero Hedge", Ficenec warns that from
China to Brazil, the central banks have lost control and at the same time the
global economy is grinding to a halt. It is only a matter of time
before stock markets collapse under the weight of their lofty expectations and
record valuations.
There are signs
things could get a whole lot worse.
1 - CHINA SLOWDOWN
China was the great saviour of the world economy in 2008.
The launching of an unprecedented stimulus package sparked an infrastructure
investment boom. The voracious demand for commodities to fuel its construction
boom dragged along oil- and resource-rich emerging markets.
The Chinese economy has now hit a brick wall. Economic
growth has dipped below 7pc for the first time in a quarter of a century,
according to official data. That probably means the real economy is far weaker.
2 - COMMODITY COLLAPSE
The China slowdown has sent shock waves through commodity
markets. The Bloomberg Global Commodity index, which tracks the prices of 22
commodity prices, fell to levels last seen at the beginning of this century.
The oil price is the purest barometer of world growth as it
is the fuel that drives nearly all industry and production around the globe.
3 - RESOURCE SECTOR CREDIT CRISIS
Billions of dollars in loans were raised on global capital
markets to fund new mines and oil exploration that was only ever profitable at
previous elevated prices.
With oil and metals prices having collapsed, many of these
projects are now loss-making. The loans raised to back the projects are now
under water and investors may never see any returns.
Oil & Gas and
Mining sector debt raised [ see
graph ]
As more debt needs refinancing in future years, there is a
risk the contagion will spread rapidly.
4 - DOMINOES BEGIN TO FALL
The great props to the world economy are now beginning to
fall. China is going into reverse. And the emerging markets that consumed so
many of our products are crippled by currency devaluation. The famed Brics of
Brazil, Russia, India, China and South Africa, to whom the West was supposed to
pass on the torch of economic growth, are in varying states of disarray.
The central banks are rapidly losing control. .. Earlier
this year, investors flocked to the safe-haven currency of the Swiss franc but
as a €1.1 trillion quantitative easing programme devalued the euro, the Swiss
central bank was forced to abandon its four-year peg to the euro.
5 - CREDIT MARKETS ROLL OVER
As central banks run out of silver bullets then, credit
markets are desperately seeking to reprice risk. The London Interbank
Offered Rate (Libor) has been steadily rising during the past 12 months. Part
of this process is a healthy return to normal pricing of risk after six years
of extraordinary monetary stimulus. However, as the essential transmission
systems of lending between banks begin to take the strain, it is quite possible
that six years of reliance on central banks for funds has left the credit
system unable to cope.
6 - INTEREST RATE SHOCK
Interest rates have been held at emergency lows in the UK
and US for around six years. The US is expected to move first, with rates
starting to rise from today’s 0pc-0.25pc around the end of the year. Investors
have already starting buying dollars in anticipation of a strengthening US
currency. UK rate rises areexpected to follow shortly after.
7 - BULL MARKET THIRD LONGEST ON RECORD
The UK stock market is in its 77th month of a bull market,
which began in March 2009. On only two other occasions in history has the
market risen for longer. One is in the lead-up to the Great Crash in 1929 and
the other before the bursting of the dotcom bubble in the early 2000s. .. UK markets have been a beneficiary of the
huge balance-sheet expansion in the US. US monetary base, a measure of
notes and coins in circulation plus reserves held at the central bank, has more
than quadrupled from around $800m to more than $4 trillion since 2008. The stock market has been a direct
beneficiary of this money and will struggle now that QE3 has ended.
8 - OVERVALUED US MARKET
In the US, Professor Robert Shiller’s cyclically adjusted
price earnings ratio – or Shiller CAPE – for the S&P 500 stands at 27.2,
some 64pc above its historic average of 16.6. On only three occasions since
1882 has it been higher – in 1929, 2000 and 2007.
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REGULATORY CAPTURE IN
THE US. The
Dallas Fed's New President Was Until Recently A Vice-Chairman Of This FDIC
Insured Hedge Fund. Submitted by Tyler
Durden on 08/17/2015
[Defining regulatory capture. The fact that Rob Kaplan –the man of Goldman Suchs - is taking control of
regulation in all that concern to financial matters in Dallas means that we
have a Private
capture of key Public Institution. In political terms it is the State
Capture that is at stake: those who control the economy control
State policies. On whose interest?
.. big crook corporations, of course. In other words, corruption
will be aggravated, as happens when the oligarchy manipulates the
formulation of policies & the new rules of the game in their own benefit.
.. I guess, they wrongly took for
granted the arrival of Mrs Clinton to power. She is the worse oligarchical candidate so far,
her felonies are worse than those of Nixon. .. Any state capture is simply the end of
democratic governance & the end of right to voice and accountability, .. it
is the beginning of political instability, violence and chaos .. the aristocratic lady will laugh again, even
when she won’t be in power .. as happens in Libya. .. Any State capture is the
end of Gov effectiveness .. it is degrading regulatory quality, is mocking on
the rule of law, is full anarchy. That is the meaning
of CAPTURE .. either economic
& political capture.. Both goes hand on hand. ]
With that in mind, we present
the new President of the Dallas Fed, Harvard professor Robert S. Kaplan who
until 2006 was vice chairman of none other than Goldman Sachs
The Federal Reserve Bank of
Dallas today announced the appointment of Robert Steven Kaplan as president and
chief executive officer. In this role, Kaplan will represent the Eleventh
Federal Reserve District on the Federal Open Market Committee in the formulation
of U.S. monetary policy and will oversee the 1,200 employees of the Dallas Fed.
His appointment is effective
September 8, 2015.
“ Rob is committed to improving the economy for all Americans.”
Prior to joining Harvard in
2006, Kaplan was vice chairman of The Goldman Sachs Group, Inc. with global
responsibility for the firm's Investment Banking and Investment Management Division.
[What an honor.. serving
the owners of a country whose system is collapsing .. We are in the path to a
new recession and as happens before is the whole nation that will be sacrificed..
faster if these big rats are planning to profit from a nuke war .. devil’s
dream.. that will be the end of the whole humanity .. Including America and its
rich rats. To
avoid such future we have to take the rich-trash out of power ]
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Bob
Woodward Compares Clinton Emails To Nixon Tapes, Warns "Answers Won't Be
Pretty". Submitted by Tyler
Durden on 08/17/2015
"Follow the trail here," veteran
Washington Post journalist Bob Woodward told MSNBC, as he compared Hillary
Clinton's private email account to the Nixon tapes.As
The Hill reports, Woodward concluded that the fight over Clinton’s
emails wouldn’t end soon: "This has to go on a long, long time...and
the answers are probably not going to be pretty."
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Currency
Carnage: Gross Warns On "Fakers And Breakers", Morgan Stanley Tells
Asia To Watch Its REER. Submitted by Tyler Durden on 08/17/2015
What does China's "surprise" move to devalue the
yuan mean for "broken" EM currencies? Nothing good, Morgan Stanley
says. In short, the path ahead is riddled with exported deflation and decreased
trade competitiveness against a backdrop of declining global growth and trade.
[ The rich are the ones that have to walk with their ass tied
to the wall .. to facilitate “el paredon” ]
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August is the 2nd most volatile month in US equitieswith
more daily swings of 1% or more than any other month (except October). As
S&P Capital IQ's Sam Stovall notes, the current market's lack of
direction may be deceiving as high beta stocks (which tracks the 100
companies in the S&P 500 that fluctuated the most relative to the index
during the past 12 months) are plunging (in correction).
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Greek PM Alexis Tsipras has lost the support he needs to win
a confidence vote, setting up the possibility of snap elections. Meanwhile,
German Chancellor Angela Merkel's bulletproof reputation will be tested on
Wednesday when the Bundestag will be forced to vote on the Greek bailout
without an assurance that the IMF will ultimately shoulder a portion of the
burden.
[ La montaña pario un
ratón .. He was not a man of strong convictions ..he should’ve no signed
austerity.. A veces los socialistas se equivocan .. la encerrona lo liquidó.. el debate debió
ser de cara al pueblo .. televisado.. no a puerta cerrada. Si querían matarlo..
muchos Tsipras habrían emergido.. el pueblo tendría hoy un héroe .. hoy solo
tiene un ratoncito con quien jugar ]
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The downturn in China is “our” downturn. All the
recent happy talk, due to unsuitable extrapolation and nothing more, has melted
away yet again. In short, the same trend dating back almost four years now is
quite expectedly unaltered by whatever any central bank does or does not do. “Stimulus”
is just noise against all that, at best; at worst it actively contributes to
the instability of the decline.
[ The China chain has not been broken .. it only got a prophylactic
cleaning.. some weak & rusty parts were took out.. it is more shine now.. although
not all fit in it.. it was cooper, now is gold .. it will take time for all
people to carry this new chain.. it is the transit from a big jail to a more
confortable one .. to a new life .. At the end, human life always implies such transits
for the better.. from time to time.. Here in USA there are people that wants to dissolve the FED ..
Bankers want to take control of entire states .. and people wants proportional
distribution of power ..it means a new Federation .. I agree with that, but
totally disagree that the problems in China were created by America .. or in
reverse. We mislead the global market .. we unleashed the sharks and bulldogs.. China domesticated & used too.. they don’t need them now .. they have their own .. their
downturn is not our dawnturn.. actor, process & effects are totally different
.. they appear to be the same .. but they are not ]
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"There
Is A Special Species Of Idiot At Large In The Financial Markets". S-
by Tyler Durden on 08/17/15
America is at the bottom of a self-knowledge low cycle in
which we are incapable of constructing a coherent story about what is happening
to us. The techno-industrial fiesta was such a special experience that we can’t
believe it might be coming to an end. So, one option is to believe stories that
have no basis in reality. As Tom McGuane wrote some forty years ago: “Life
in the old USA gizzard had changed and only a clown could fail to notice. So
being a clown was a possibility.”
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While we have grown used to reading of Asian citizens
setting themselves on fire in protest (most
recently here), news that a 58-year-old man lit himself on fire in
front of Ohio City Hall in Columbus is shocking. There are no details
as to the reason for this sad act, but as ABC6 reports, the man has been
transported to OSU Medical Center in critical condition.
[ Prices of groceries are going up and up .. the crisis is being
suffered by poor people .. not matter the skin color .. if the economic frustration
intersects with health problems .. the result is suicide ]
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Turkey
Declares Curfew In Latest Wartime Escalation, Lira In Record Plunge On More
Government Turmoil. Submitted by Tyler
Durden on 08/17/2015
In what looks like the latest escalation in a string of
wartime crackdowns, Turkey has declared a curfew for citizens of Lice, a
district of Diyarbakir province. As Bloomberg reports, “citizens are
prohibited from going out on streets from 9pm tonight until 7am on Tuesday.”
Additionally, “the Governor of Diyarbakir [has] declared ‘special security
zones’ in Silvan, Lice, Kulp and Dicle,” citing the PKK “terror” threat.
[ When an idiot comes to power.. anything could happen .. worse
if is an idiot with lot of money ]
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Funds
For Fracking Finally Dry Up: One Last Hail Mary Pass Remains. S- by Tyler
Durden on 08/17/2015
Is Saudi Arabia on the verge of winning the war on US
Shale firms? It appears the spigot of malinvestment-subsidizing
liquidity that kept numerous zombie energy firms alive has been shut off almost
entirely. As oil prices return to cycle lows, so credit risk has spiked to
record highs and issuance of life-giving bonds has collapsed. As Reuters
reports, this has opened up opportunities for deep-pocketed
private equity firms to push for restructuring or buy assets as many oil
companies need cash to replenish banks' slimmed-down lending facilities,
service their bonds and finance drilling of new wells to keep pumping oil and
sustain cash flow. But hope is fading as one private equity form CEO warns
"I would say, this isa good time to be careful when it comes to
investing in energy."
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Empire
Fed Collapses To Six Year Lows As New Orders Signal Recession Imminent.
Submitted by Tyler Durden on 08/17/2015
Having 'stabilized' in recent months, The Empire Fed
Manufacturing Survey just collapsed to -14.92 (from 3.86) missing
expectations of 4.50 by the biggest margin since 2010. Across the board it
was a bloodbath with New Orders crashing, inventories plunging and employment
lower (with both workweek and number of employees falling). The headline data
would have been worse were it not for the concurrent spike in 'hope' - highest
since April.
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Submitted by Tyler
Durden on 08/17/2015 - 07:40
- Oil
moves nearer six-year low on Japan data, oversupply (Reuters)
- Commodity
Slide Spurs Treasuries as Emerging Markets Extend Drop (BBG)
- Because
7 years is "just right" - BOE Official Says Don’t Wait Too Long
on Rates (WSJ)
- How
Medicare Rewards Copious Nursing-Home Therapy (WSJ)
- Millennials
Are Developing Parents’ Taste for Jaguars, Cadillacs (BBG)
... and even more debt
- Mexican
Billionaire’s Firms Swept Up in U.S. Probe of Citigroup (BBG)
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Futures
Flat As Oil Drops To Fresh 6 Year Low; EM Currencies Crumble Under Continuing
FX War. Submitted by Tyler
Durden on 08/17/2015
It was a relatively quiet weekend out of China, where FX
warfare has taken a back seat to evaluating the full damage from the Tianjin
explosion which as we reported on Saturday has prompted the evacuation of a 3
km radius around the blast zone, and instead it was Japan that featured
prominently in Sunday's headlines after its Q2 GDP tumbled by 1.6% (a number
which would have been far worse had Japan used a correct deflator), and is now
halfway to its fifth
recession in the past 6 year,underscoring Abenomics complete success in
desrtoying Japan's economy just to get a few rich people richer. Of course,
economic disintegration is great news for stocks, and courtesy of the latest
Yen collapse driven by the bad GDP data which has raised the likelihood of even
more Japanese QE, the Nikkei closed 100 points, or 0.5% higher.
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NEWS IN SPANISH
ALIA: Agencia Latina de Información Alternativa. Periodico
Digital. Reporte Nacional TELAM-ALIA
…
GOLPE BLANDO ES GOLPE A SECAS. Por Roberto
Follari */ El Telégrafo (Ecuador)
Como
opera el CAMBIO DE RÉGIMEN de ONGs del NED bajo
la modalidad de “golpe blando”?
“No por
‘blandos’, los golpes contra las autoridades legítimas dejan de ser golpes de
Estado, ilegales y antidemocráticos. Casos: Zelaya en Honduras; Lugo en Paraguay. Gene
Sharp (CIA?) propone cinco etapas, de menor a mayor en la producción de
desorden y caos social:”
[ Extracto resumido ]
1ro. Ablandamiento:
promoción de conflictos y descontento.. desabastecimiento, criminalidad..etc
2do. Deslegitimación:
manipulación del anticomunismo,
acusación de totalitario y corrupto. Objetivo: fractura ético-política.
3ro.
Calentamiento de la calle: org de movilizaciones, protestas sin
enfrentamiento.. quema de flags, de imágenes de figuras del Gbno..
4to. Enfrentamiento.
Marchas a instituciones emblemáticas con operaciones de guerra psicológica y
acciones armadas para justificar medidas represivas y crear un clima de
ingobernabilidad..
5to.
Fractura institucional. Se manipula
personas en instancias de Estado (parlamento, Corte..) para obligar la renuncia
del Presidente.
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Cuba. -Kerry no quiere “amigos”, refrenda los
negocios. EEUU, otras armas vs. Cuba
Salvador González Briceño
Salvador González Briceño
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