Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter
With fundamentals and economic realities having become totally irrelevant these days, economists are reassigned to tout stocks.
The S&P 500 hit the milestone of 2,000 yesterday before backing off. Today, it closed at 2,000 sharp, as if by coincidence. It’s up nearly 200% since March 2009. It hasn’t seen even a run-of-the-mill nothing-to-worry-about correction of 10% in almost three years, though these corrections occur about every [...]
Gold Shines Most in September on Seasonal Buys: Bloomberg Chart of Day
BLOOMBERG CHART OF THE DAY – September Sees 3% Gains Over 20 Years
Gold investors hurting from prices within 1% of a two-month low can find solace from the historical record and research and showing gold performs best in September.
The BLOOMBERG CHART OF THE DAY shows bullion averaged gains of 3% each September over the past 20 years, beating next best [...]
James Corbett of The CorbettReport.com says it looks like we are headed towards global war. Corbett says, “It is only a matter of what shape and what form that war will take place. We are seeing the battle lines being drawn. . . . I think this is very much going to be an economic conflict, or at least one that is fundamentally centered on economics. . . . They [...]
NYT Wednesday: Obama working to forge sweeping international ‘climate change’ agreement – but without Constitutional requirement for Senate ratification of traditional treaty…
Obama about to Carbon Tax your asses…$5 per gallon gas coming.
Obama Pursuing Climate Accord in Lieu of Treaty
WASHINGTON — The Obama administration is working to forge a sweeping international climate change agreement to compel nations to cut their planet-warming fossil [...]
Four in 10 U.S. households are straining financially five years after the Great Recession — many struggling with tight credit, soaring education debt and profound issues related to savings and retirement, according to a new Federal Reserve surve
New Home Sales Drop To Lowest Since March As Northeast Craters; Biggest Supply Since October 2011
The foundation of Misery Index 2.0 is jobs, earned income and the purchasing power of earnings
The Japanification Of [...]
Bloomberg WORLD INDEX on mthly showing 2 ongoing counter-trend sells with another likely by next week- Sept- See 07 pic.twitter.com/YC6l23y4IZ — Mark Newton (@MarkNewtonCMT) August 26, 2014
Market sentiment can be a powerful trend gauge. Some sentiment indicators are anecdotal; others you can track and measure. The good thing about the measurable indicators is that you can compare their current readings with readings at previous market tops and bottoms. Here’s one of them.
BY JOHN WARD
THE DEATH OF LAW & THE RISE OF CORPORATES
To the four subjects headlined above, one could also justifiably add the western media line on Syria’s Bashar Assad, the Ukraine, Hungary’s Viktor Orban, Italian economic statistics, QE aims, Libor rates, gold prices, Hackgate Court verdicts, the Mayor of London’s business arrangements, the ‘saving’ of the Coop, RBS techno-glitches, Non-farm US payroll assumptions, and the application of the [...]
“Widespread Slowdown In Home Price Gains”: Case-Shiller Misses, Rises By Slowest Since 2012
The fourth (or is it fifth?) dead cat bounce in the US housing market is rapidly fading, as we just confirmed by the latest Case-Shiller Home Price Index data for the month of June, which saw a Y/Y increase in home prices of just 8.07%, below the 8.3% expected, and the slowest increase [...]
by Dave Hodges
The plan is called America 2050 and the concept is based upon the creation of megacities. In order for the megacities concept, which is well underway, to come to fruition, American suburbs and rural areas must be completely depopulated. This process is underway and the Obama administration is accelerating the process.
This will come as a shock to many reading this article because they did not learn of [...]
They’re not going to lose your Krugerrands in the hard drive. Gold is a universal currency that people recognize at sight.
Gold bars in a vault in West Point, N.Y. (Associated Press)
Or are they?
The IMF’s latest international gold reserves data, updated yesterday, shows that in July, Russia raised its official gold reserves to 5.5 million ounces (1,104 tonnes).
This confirms data released last week by the Central bank of the Russian Federation, which reported an increase of over 300,000 ounces from June’s 5.197 million ounces figure. IMF data is reported with [...]
Aug. 26 (Bloomberg) — Teneo Intelligence Senior Vice President Antonio Barroso weighs in on the austerity debate on “The Pulse.” (Source: Bloomberg)
John Oliver explores America’s wage gap between men and women and proposes a possible solution.
Note: Solution proposed is 100% sarcastic.
In a stunning turn of events, Department of Justice attorneys for the IRS admitted that Lois Lerner’s emails DO exist on a backup server, but said they would be hard to find.
Judicial Watch President Tom Fitton broke the news today:
Department of Justice attorneys for the Internal Revenue Service told Judicial Watch on Friday that Lois Lerner’s emails, indeed all government computer records, are backed up by the [...]
UK law: What proportion is influenced by the EU?
The Bank of England is also happy to stick to plans for a total injection of no more than £375 billion of quantitative easing
BOE Hasn’t Cracked the Mystery of U.K. Productivity Collapse
UK student loans system near collapse
UK avoids triple-dip recession with better-than-expected 0.3% GDP growth
Bank of England confirms interest rates and quantitative easing to remain unchanged in show of confidence in economy
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter
Adeptly managed by the central bank and the government, the Argentine peso has been plunging in perfect form, an activity it is very, very good at.
Adeptly managed by the central bank and the government, the Argentine peso has been plunging in perfect form, an activity it is very, very good at. And so on Thursday, it plunged 4.1% on the black market, hitting [...]
Even after a 5½-year stock market rally, some professional investors expect the upward trend to continue. One previously staunch bear has just turned bullish and another professional investor sees a bull market lasting for years. Have we reached the final peak in financial optimism?
By Michael Snyder
If hundreds of doctors and nurses are becoming infected with Ebola, what chance is the general public going to have? This is not just a question that many of us are asking. As you will see below, this is a question that the World Health Organization is asking. When dozens of health workers started getting Ebola, nobody could explain how it was happening. More precautions were taken [...]
With fears of Moscow growing after its intervention in Ukraine, NATO member states in Eastern Europe would like NATO to direct a planned missile-defense system against Russia as well. The calls have divided the military alliance.
NATO officials are considering deploying a long-planned missile defense system — aimed at protecting Europe from attacks from the Middle East — against Russia as well, SPIEGEL has learned.
MONROVIA, Liberia (AP) — A Liberian doctor who was among three Africans to receive an experimental Ebola drug has died, the country’s information minister said Monday.Dr. Abraham Borbor, the deputy chief medical doctor at the country’s largest hospital, had been among three Liberians, and the first Africans, who received the drug, ZMapp. Two Americans received the untested drug and survived. A Spaniard infected with Ebola received the treatment but died. [...]
BY JOHN WARD
I read the news today, oh boy – 4000 holes in Blackburn Lancashire
The Beatles, Sergeant Pepper’s Lonely Hearts Club Band
While David Cameron does a bit of overweight body-surfing in Cornwall, I’d like to point out that his Twitter mantra – ‘This shows that the Government’s long-term economic policy is working’- needs some refinement. The most succinct improvement would involve the addition of [...]
THE beheading of American journalist, James Foley, at the hands of ISIS militants shocked the world but forensic experts have revealed the video was probably staged, with the murder happening off camera.
The UK Times reported that an international forensic science company, which has worked for police forces across Britain, said there is no question Foley was beheaded but that camera trickery and post-production techniques look to have [...]
Argentina’s bankruptcy is not as bad as the bond dealers in New York are making out. In fact, Argentina may be a good model for debt-stressed nations going forward.
This may not be spread from West Africa but may include a new hybrid strain….
-” one of the two cases that tested positive was for the Sudanese strain of the disease, while the other was a mixture between the Sudanese and the Zaire strain — the most lethal variety. The outbreak in West Africa that has killed at least 1,427 people in West Africa since March is [...]
BY JOHN WARD
BREAKING…..CHAOS BECKONS IN FRANCE AS HOLLANDE ORDERS PM VALLS TO FORM NEW GOVERNMENT
Manuel Valls…dans le merde
Paris government split, Italian government broke: eurozone’s crisis now deeper than ever.
Just five months after the last government resigned and he took office as Prime Minister, France’s Manuel Valls must now form a new government after two leftist Cabinet rebels, Montebourg and Hamon, flayed the country’s economic policy in general and [...]
By Michael Snyder
Are people dumber than they used to be? Were previous generations mentally sharper than us? You may have suspected that people are getting stupider for quite some time, but now we actually have scientific evidence that this is the case. As you will read about below, average IQs are dropping all over the globe, SAT scores in the U.S. have been declining for decades, and scientists [...]
The number of people dying in West Africa from the ongoing Ebola outbreak is poised to surpass the total number of people to ever have died from the virus in just 10 days, according to World Health Organization figures. Up until sometime in early 2014, the Ebola virus had killed 1,548 people since being discovered in 1976. As of Monday, Ebola had killed more than 1,350 people across West Africa [...]
They just had it on the news. There are 4 checkpoints circling Columbus complete with dirty judges signing roadside warrants and retarded brownshirts carrying out their orders. Look, I’m of the opinion that anyone caught drinking and driving should be shot posthaste, but this is not the way to catch them. God damn it. This was fine when it was some f*cked up state like Oregon or Georgia – but OHIO!? God [...]
Feds limit availability of painkiller hydrocodone. New law takes effect in 45 days
Aug. 27 (Bloomberg) — German 10-year bund yields could move lower to 0.5%, says Riccardo Barbieri, chief European economist at Mizuho International Ltd. Barbieri talks about a “deteriorating picture” for Europe’s growth and the possibility of European Central Bank quantitative easing. He speaks with Jonathan Ferro on Bloomberg Television’s “On the Move.” (Source: Bloomberg)
Aug. 27 (Bloomberg) — The city of Chicago is betting big on big data. Mayor Rahm Emanuel has given the green light to a project to install sensors on traffic poles that collect data on air quality and weather. Now some privacy groups concerned. Bloomberg’s Sam Grobart explains. (Source: Bloomberg)
Here is the link that goes with the post: http://b4in.info/ccxw
Silver and gold prices continue to deteriorate as the speculators continue to buy up shorts and the commercials were able to wrest all higher priced longs from them in short covering, depressive episodes which, repeated in nature, have convinced the speculators prices are going much further South, and soon.
The important thing for the powers that be to do now is to reinforce the negative thinking on the part of speculators and [...]
CDC Director Thomas Frieden, who is in Liberia to assess the Ebola outbreak, said today the contagion is “even worse than we’d feared.”Snip-