AUG 6 SIT EC y POL
ZERO HEDGE
The real issue is whether the country is controlled by
its aristocracy (a dictatorship), or instead by its public (its residents). Let’s
be frank and honest: an aristocratically controlled government is a
dictatorship, regardless of whether that “aristocracy” is in fascist Italy, or
in Nazi Germany, or in Communist USSR, or in North Korea, or in the United
States of America.
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Emerging Market Mayhem: Gross Warns Of "Debacle" As Currencies, Bonds Collapse. Submitted by Tyler Durden on 08/06/2015
Things are getting downright scary in emerging markets as a
"triple unwind" in credit, Chinese leverage, and loose US monetary
policy wreaks havoc across the space. Between a prolonged slump in commodity
prices and a structural shift towards weaker global trade, the situation could
worsen materially going forward.
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$60
Trillion Of World Debt In One Visualization. Submitted by Tyler
Durden on 08/06/2015
Today’s visualization breaks down $59.7 trillion of world
debt by country, as well as highlighting each country’s debt-to-GDP ratio
using colour. The data comes from the IMF and only covers external government
debt. Combining the debt of the United States, Japan, and Europe together
accounts for 75% of total global debt.
SEE IMF GRAPHIC AT:
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Mapping
The Rising Poverty Of The U.S. Submitted by Tyler
Durden on 08/06/2015
Concentrated poverty in the neighborhoods of the nation's
largest urban cores has exploded since the 1970s. The number of high
poverty neighborhoods has tripled and the number of poor people in those
neighborhoods has doubled according to a report released by City Observatory...
To
be poor anywhere is difficult enough, but a growing body of evidence shows the
negative effects of poverty are amplified for those who live in high-poverty
neighborhoods - places where 30 percent or more of the population live
below the poverty line. Quality of life is worse, crime is higher, public
services are weaker, and economic opportunity more distant in concentrated
poverty neighborhoods.
Critically, concentrated poverty figures prominently in
the inter-generational transmission of inequality: children growing up in
neighborhoods of concentrated poverty have permanently impaired economic
prospects.
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Aside from the socialist utopias of Greece and Venezuela,
who else is on the default chopping block? The CDS heatmap below lays out all
the countries which according to the market, are most likely to tell their
creditors the money is gone... it's all gone.
Below, in order of declining default risk, are the ten most
likely to follow Venezuela and Greece into the great default unknown:
- Ukraine
- Pakistan
- Egypt
- Cyprus
- Russia
- Brazil
- Kazakhstan
- Turkey
- South Africa
- Vietnam
And which are the three countries least likely to default?
No surprise, these are Germany, Switzerland, and Sweden. The US is 4th least
risky.
Source: Bank of
America [ NO FIABLE ]
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US
Government Enthusiastically Tweets About Arms Sales To Brutal & Autocratic
Egyptian Regime Submitted by Tyler
Durden on 08/06/2015
In case you’ve been living under a geopolitical rock for the
last couple of years, you’d know that despite a brief period of time during
which Egypt appeared headed toward a democratic form of government, it went
from one brutal dictator to another. As was the case during Hosni Mubarak’s
decades of rule, this is precisely how the U.S. government likes it. So
much so, that U.S. officials are not only selling arms to the latest despot,
General Abdelfattah al-Sisi, but they are actively bragging about it on
Twitter.
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In early 2007,
market internals began to weaken dramatically. Talking heads and asset
gatherers said fears were overblown, risk was contained, Fed has it under
control, stay the course. Six months later, the equity markets began to
collapse and then accelerated lower. Today, in an eery case of deja vu all over
again, it has been six months now since US equity market internals began to
decouple from the manipulated index levels that manufacture wealth and
happiness across America... what would you do?
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GDP
Shocker: Atlanta Fed Sees Q3 Growth At A Laughable 1%. S-by Tyler
Durden on 08/06/2015
The Atlanta Fed's Q1
and Q2 GDP forecasts were virtually spot on with what the BEA ultimately
reported. Which is why if its accuracy persists, not only the Fed, but Wall
Street strategists suddenly have a very big headache on their hands. Moments
ago, the Atlanta Fed just released its much anticipated first estimate for Q3
GDP. It was a doozy, at just 1.0%, or more than 2% below the consensus sellside
estimate.
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Where
Did The GDP "Growth" Go? Not Into Wages. Submitted by Tyler
Durden on 08/06/2015
So where did all this growth of the economy end up? How can the economy grow by roughly
one-third in real dollars while real median household income drops like a rock
and real wages/salaries are essentially unchanged for 15 years?
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Russia's
Latest Land Grab Attempt In The Arctic. Submitted by Tyler Durden on 08/06/2015
Russia is resubmitting its claim of more than 460,000
square miles of the Arctic, including the North Pole, as its sovereign
territory, saying it has enough
evidence to convince the United Nations that its claim is valid. The Arctic,
which is believed to contain as much as one-quarter of Earth’s undiscovered oil
and gas, is part of a territorial dispute involving not only Russia but also
Canada, Denmark, Norway and the United States. This is the second time
Moscow has submitted a claim in the Arctic.
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Texas
Schools Caught Manipulating Quotes To Push Christianity On StudentsSubmitted by Tyler
Durden on 08/06/2015
A public school
district in Eastern Texas is under fire amid allegations it made up quotes by famous
figures in order to promote Christianity to its students, posting them to the
walls of the four schools in the district. The Mount Vernon Independent
School District is accused of misattributing quotes to George Washington and
Ronald Reagan among others and faces demands to remove the false statements
from its walls.
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WTI Crude is back below
$45 again this morning - pressing towards 2015 and cycle lows -after Goldman
Sachs' Jeffrey Currie warns 'lower for longer' is here to stay, with
price risk "substantially skewed to the downside." His
reasoning are manifold, as detailed below, but overarching is oversupply
(Saudi Arabia has a challenge in Asia as it battles to maintain mkt share, the
Russians are coming, andother OPEC members want a bigger slice) and, even more
crucially, storage is running out. As Currie concludes, this time
it is different. Financial metrics for the oil industry are far worse.
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Explain
This... Submitted by Tyler
Durden on 08/06/2015
Initial jobless
claims rose modestly this week but remain near 40 year lows as hoarding
continues, and job cuts are at 4-year highs. So, we ask, just what is going on
in this chart?
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Submitted by Tyler
Durden on 08/06/2015 - 07:37
- Trump at center stage as Republicans square off in first debate (Reuters)
- Cleveland Debate Offers GOP Hopefuls a Chance to Break Away from the Pack (WSJ)
- Bank of England Keeps Key Interest Rate at 0.5% in 8-1 Vote (BBG)
- Emerging stocks submerged, UK gears up for 'Super Thursday' (Reuters)
- No IMF decision on Greek bailout until autumn, Swedish rep tells paper (Reuters)
- Japan Heads Toward Nuclear Unknown With Post-Fukushima Restarts (BBG)
- Activist Ackman Takes $5.5 Billion Stake in Snacks Giant Mondelez (WSJ)
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INFORMATION CLEARING HOUSE
The Brookings
Institute Plan to Liquidate Syria
By Mike Whitney
By Mike Whitney
There’s going to be US boots on the ground in Syria. You
can bet on it.
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Critics are questioning what exact authority the White
House has to go ahead with the mission
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The Fake War
on ISIS: US and Turkey Escalate in Syria
By Eric Draitser
By Eric Draitser
Turkey is perpetuating an outright myth in their supposed
strategy to create “Islamic State-free zones” along the border
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Five European forces will work with the US, the EU and
the UN, in an operation expected to number several thousand
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Defending
Greece From “Financial Bombing”
By Peter Koenig
By Peter Koenig
In front of the new totalitarianism of the “Markets”, the
same if not more dangerous than totalitarianisms of the ‘30s and ‘40s, we don’t
have other alternative than to unite and fight
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A Practical
Guide to American Fascism
By Norman Pollack
By Norman Pollack
Greetings, 2016: a leadership choice so pitiful,
reactionary, confrontational as to provide a macabre shadow over the land.
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See also
New
estimates put cost of US nuclear weapons upgrade at $963 billion:
President Barack Obama’s plans to modernize the U.S. nuclear arsenal over the
next 30 years could cost taxpayers nearly $1 trillion, according to a new study
that suggests the project’s long-term price tag will far outpace available
Pentagon estimates.
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NEWS IN SPANISH
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PRESS TV
Iraqi
airstrikes kill 52 ISIL militants. Thu Aug 6, 2015 The Iraqi Air
Force kills over 50 ISIL terrorists during separate strikes in Anbar Province.
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Russian
hackers attack Pentagon. Thu Aug 6, 2015 Russian hackers carried out a
cyber attack against the Pentagon in July, a report says.
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'Greece
deal with lenders after Aug. 15'. Thu Aug 6, 2015 Greek Prime Minister
Alexis Tsipras says Greece "can and must" reach a deal with its
international lenders over a multi-billion-euro bailout after August 15.
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Muscat,
Damascus to up ties on Syria crisis. Thu Aug 6, 2015 Muscat and
Damascus agree to work together in order to end the conflict gripping Syria.
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