OCT 17 16 SIT EC
y POL
ZERO HEDGE
ECONOMICS
While the "cash on the sidelines" myth
has infuriated many, it remains a staple excuse for why there's
always a buying opportunity in stocks when the market dips. However, as Ned Davis Research warns "we can't find much cash on
the sidelines... and when we do it seems mostly offset by
debt/liabilities,"crushing yet another
pillar of strength for stocks.
In conclusion, I can’t find much cash on the
sidelines. When I do find it with households or corporations, it seems
mostly offset with debt/liabilities.
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For the
13th straight month US Industrial Production contracted year-over-year. The
1.00% annual drop extends the weakness to thelongest non-recessionary streak in
US history. Aerospace and Home Electronics saw the biggest drops in
production with motor vehicles managing a modest increase as manufacturing beat
expectations MoM.
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Following September's mixed bag
of disappointing regional Fed surveys, October has started off poorly with
a big miss for Empire Fed (-6.8 vs +1.0 exp). June's
dead cat bounce is officially over with the index sliding to 5 month lows
led by continued deterioration in New Orders and workweek. Hope rose
modestlywith new orders expected to pick up.
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The
price of 'real assets' (real estate, commodities, collectibles) relative to
'financial assets' (stocks & bonds) are at their lowest since 1926, and, as
BofAML's Michael Hartnett suggests "buying humiliation and selling
hubris" as investors are being forced to discount higher
inflation and interest rates, as protectionism & redistribution themes are
also aimed at boosting Main Street at the expense of Wall Street.
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The Dallas police and
firefighters pension fund has just 45% of the money it needs to cover benefits.
The fund rates to be out of money in 15 years at the current rate of
withdrawals. For those eligible, the sane thing
to do is retire and take a lump sum payout before the money is all gone...
and that’s precisely what’s happening...
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Despite
much hope that the current breakout of the markets is the beginning of a new
secular “bull” market – the economic and fundamental variables
suggest otherwise. Valuations and sentiment are at very elevated
levels which are the opposite of what has been seen previously. Interest
rates, inflation, wages and savings rates are all at historically low levels
which are normally seen at the end of secular bull market periods,
not the beginning of one.
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"Clinton has
acknowledged she intends to 'defend and build on' President Obama 's economic
'legacy'. As clear a policy indictment as that is, in reality she would make things much worse..."
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As a result of slowing demand and declining US auto sales coupled with
growing inventory, Ford Motor is halting one of two plants that builds its
top-selling F-150 pickup as it idles four factories this month amid slowing
U.S. auto sales.
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A falling market cannot be allowed... at any cost...
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"I've seen this movie before, and I know how it ends..."
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"All in all, every day there are more
indications on every front that the
trailing edge of the gigantic financial hurricane we entered in 2007 is going
to be very, very ugly."
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M.C.
Escher’s famous painting “Ascending and Descending”, and recent market trends
have a lot in common. They both portray a lot of up and down movement and
what many may perceive to be trends. However, when studied closely, they both show little to no absolute
change in direction.
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POLITICS
"[Redacted]
advised that, in exchange for marking the email unclassified, STATE
would reciprocate by allowing the FBI to place more Agents in countries
where they are presently forbidden."
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"A
senior State Department official’s attempt to pressure the FBI to hide the
extent of thismishandling bears all the signs of a cover-up."
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"Prior to CLINTON's tenure,
being an agent on the Secretary of State's protective detail was seen as an
honor and privilege reserved for senior agents. However,
by the end of CLINTON's tenure, it was staffed largely with new
agents because it was difficult to find senior agents willing to work for
her. [Redacted] claimed to have had at least one conversation with
Secret Service agents who experienced the same poor treatment."
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"It doesn’t matter what
the friggin’ legal and ethics people say, we need to win this
motherfucker."
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So many things are now known about the media establishment and the
collusion it shares with the
Clinton campaign. More things are being found out every day as Wikileaks
provides proof of the public perception. The people were right, there is a conspiracy to keep them uninformed and
misinformed.
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Hours after Wikileaks announced that inexplicably Julian Assange's
internet connection had been cut, South Carolina Congressman Jeff Duncan, a
republican, on Monday cheered the release of hacked emails by WikiLeaks. “Let me be
clear: Thank God for Wikileaks — doing the job that MSM WON'T!
#ASSANGE #wikileaks,” Duncan tweeted, referring to WikiLeaks founder
Julian Assange.
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ME & WORLD ISSUES
News flash: every country with access to the
Internet is in full hacking mode around the clock against every other country
so engaged.Everybody’s doing it.
It is perhaps a projection of America’s ongoing rape hysteria that we think
we’re special victims of this universal activity. Rather, the Evil Russia meme seems a projection of
our country’s own insecurities and contradictions.
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We will soon wish we were allowed an honest business cycle recession once
the current overcapacity implodes the global economy.
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- Bonds Selloff Spreads on Inflation Concern; Stocks Fall With Oil (BBG)
- Trump charges U.S. election results being rigged 'at many polling places' (Reuters)
- CNN’s Stelter Blames Firebombing of NC Republican Office on Trump's 'Over Heated' Rhetoric (Newsbusters)
- Britain, France seek EU condemnation of Russia over Syria (Reuters)
- Inside the Secret Society of Wall Street's Top In-House Lawyers (BBG)
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DEMOCRACY NOW
A North Dakota judge
today refused to authorize riot charges against award-winning journalist Amy
Goodman for her reporting on an attack against Native American-led anti-pipeline
protesters.
“This is a complete
vindication of my right as a journalist to cover the attack on the protesters,
and of the public’s right to know what is happening with the Dakota Access
pipeline,” said Goodman.
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Report
from Standing Rock: 100+ Militarized Police Deployed Against Native American
Water Protectors
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GLOBAL RESEARCH
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Clinton
And Trump Supporters Both Agree On One Thing: The Election Could Be Hacked By Washington's Blog
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INFORMATION CLEARING HOUSE
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The New York Times welcomed “The Coming Battle for Mosul”.
It declared that the city must be “liberated” from “terrorists’
rule”—regardless of the human cost
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"If Mr, Trump loses it will be because of a massive
conspiracy or fraud not because more americans voted for someone else
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COUNTER PUNCH
Patrick Cockburn US
Allies are Funding ISIS (and Hillary Knew All Along)
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Fran Shor A Rigged System?
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Michael Hudson - Ahmet Öncü
The
Legacy of Veblen in the Age of Post-Industrial Capitalism
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Paul Craig Roberts The
Real Humanitarian Crisis is Not in Aleppo
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SPUTNIK and RT SHOWS
I Am Vladimir Putin: The First Victim of McCarthyism 2.0 https://sputniknews.com/analysis/201610171046431086-Newsweek-Eichenwald-Moran-Putin-Trump/
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This is Why Democrats Attack Trump for His Comments on Putin https://sputniknews.com/politics/201609171045410956-trump-putin-comments/
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CIA Sets Up Clinton for 'Russian Hit' https://sputniknews.com/columnists/201609161045384148-clinton-cia-russia/
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'Queen of Chaos': Hillary Clinton Partially 'Responsible for
Global Disorder' https://sputniknews.com/politics/201609111045196479-hillary-us-foreign-policy/
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Mosul Offensive 'Risks Becoming Even More Bloody Than the
Battle for Aleppo' https://sputniknews.com/middleeast/201610171046402437-mosul-offensive-syria-jihadists/
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RT SHOWS
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NOTICIAS IN SPANISH
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Ent a Winona LaDuke, "La empresa de oleoductos
Enbridge no tiene derecho a destruir nuestro futuro" Ella es activista indÃgena y ex candidata a vicepresidencia
por el Partido Verde AG
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Neoliberalismo y la financiarización
de la economÃa J L Berterretche
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PRESS TV
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