Argentine Peso Slides as Officials Say Currency Is Under Attack
Argentina Declared in Default by S&P as Talks Fail
UPDATE 1-Argentine inflation quickens for first time in 6 months in July
An Argentine Dictator’s Legacy
Following the war, they experienced hyperinflation. By 1923, one U.S. dollar was equal to one trillion marks. This was said to have contributed to the rise of Hitler.
The recovery illusion in the US is continuing. Q2 GDP has been revised hire to 4.2%. Pending home sales decreased YoY. The housing bubble mimics the housing bubble of 2008. US and Ukraine are losing the war against the people of Ukraine. Ukraine and the US are using the Russian invasion propaganda once again. Ukraine had purchased the same T-72 tanks from Hungary on Aug 2 that are now being [...]
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When it comes to “Monthly Momentum” it can take a while to become very over bought or over sold. The Russell 2000 monthly momentum reached lofty levels back in 1998 & 2007. Once momentum support broke at (1) & (2) in the Russell, it experienced declines ranging from 23% to 53%.
Opposite has taken place before strong bull markets. When monthly momentum reached oversold levels back in 2003 [...]
By Michael Snyder
Wall Street banks are getting hit by cyber attacks every single minute of every single day. It is a massive onslaught that is not highly publicized because the bankers do not want to alarm the public. But as you will see below, one big Wall Street bank is spending 250 million dollars a year just by themselves to combat this growing problem. The truth is that [...]
DNA sequences reveal Ebola’s spread and mutation The virus was not recognized in West Africa until March of this year, however, when the first case was confirmed in Guinea. Gire said the West African epidemic likely began after a single zoonotic event — in other words, transmission of the virus from an animal to a person.
Gire said his study shows that more than 300 mutations have occurred since Ebola began infecting people [...]
The second quarter U.S. GDP has just been revised upward from 4% to 4.2%. That’s a very impressive number. And everyone knows that when the economy is strong, so is the stock market… Except, it’s not exactly true.
Traveling from Shanghai to San Francisco in under two hours may sound like a fantasy, but China believes it’s figured out how to design an underwater vehicle that can make the idea a reality.
More worryingly, though, is the possibility that the technology will be used to develop even more dangerous weaponry.
According to the South China Morning Post (SCMP), the super-fast technology was developed by scientists at the Harbin Institute of [...]
GENEVA—The World Health Organization says the Ebola outbreak in West Africa eventually could exceed 20,000 cases, more than 6 times as many as doctors know about now.At least 40 per cent of the cases have been in just the last three weeks, the U.N. health agency said, adding that “the outbreak continues to accelerate.”
Ebola outbreak: ‘It’s even worse than I’d feared’(CNN) — “It’s even worse than I’d feared,” Dr. Tom [...]
UKRAINE: Russia invading…
KIEV, Ukraine — Fighting between the Ukrainian military and what Ukrainian and Western officials say are Russian troops worsened early Thursday, prompting fears in Ukraine that a Russian invasion of their territory has begun.
Ukrainian officials say Ukrainian troops are continuing to battle combined Russian and separatist forces on a new southern front around the border town of Novoazovsk, east of Crimea on the Sea of Azov. A military spokesman [...]
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter
It starts out un-alarmingly. The optimism of German consumers weakens somewhat, according to the forward-looking Gfk survey, conducted on a monthly basis for the European Commission. So the overall index fell to 8.6 for September, from 8.9 in August. It was the first decline since January 2013.
The index bottomed in late 2008 below 2, after a breathtaking crash during the financial crisis. In late [...]
France’s President replaces the economy minister with a central banker. France is collapsing, unemployment hits an all time high. China and Russia start using rubles and yuan for oil trade bypassing the dollar. NATO planning for more bases, military assets in Eastern Europe. US preparing to bomb the Islamic State which is a cover to bomb Syria and to remove Assad. The UN came out with a report which implicates [...]
By Michael Snyder
Has there ever been an administration that has had more disdain for the U.S. military than the Obama administration? The way that this administration treats our veterans and the way that this administration is gutting our armed forces is absolutely shameful. As you will read about below, Obama and his minions have been purging the military of officers that do not agree with their agenda, they [...]
Markets could soon face a fall of up to 60 percent, two experts told CNBC on Wednesday.
A jolt to international confidence in central banks will lead to a 30 to 60 percent market decline, David Tice, president of Tice Capital and founder of the Prudent Bear Fund, told CNBC’s “Power Lunch.” When this happens, he said, markets will face a “period of extreme turmoil.”
Overleveraged banks could send the economy into another financial crisis. That’s the message of a Stanford finance professor who’s been on a mission to get banks to raise their reserve levels. She says “something is very wrong” with the banking industry.
Existing law regulates various business activities and practices, including the sale of telephones.
This bill would require that any smartphone, as defined, that is manufactured on or after July 1, 2015, and sold in California after that date, include a technological solution at the time of sale, which may consist of software, hardware, or both software and hardware, that, once initiated and successfully communicated to the smartphone, can render inoperable the [...]
NEW YORK – The World Health Organization will host a closed-door conference in Geneva with some 100 health-care experts from around the world to explore the alternative medical treatments and experimental drugs available to combat Ebola.
The WHO hopes the conference, Sept. 4-5, will lead to the approval of one or more treatments to combat the current Ebola outbreak in Africa.
WHO spokeswoman Fadela Chaib in Geneva explained to WND in an [...]
Europe hasn’t recovered, because it hasn’t let itself. Too much fiscal austerity and too little monetary stimulus have, instead, put it more than halfway to a lost decade that’s already worse than the 1930s.
It’s a greater depression.
But it’s a little misleading to just call this a depression. It’s worse than that. Europe is turning Japanese. The combination of zombie banks, a rapidly aging population and, most importantly, too-tight money have pushed it [...]
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 [...]
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 [...]
Has Germany had enough? Hot on the heels of Mario Draghi’s ‘demands’ that EU leaders undertake “structural reforms” to boost competitiveness and overcome the legacy of Europe’s debt crisis, German Finance Minister Wolfgang Schaeuble unleashed perhaps the most worrisome statement tonight for all the free-money-party-goers – the music is about to stop. In an interview with Bloomberg TV, Schaeuble blasted “Europe needs to find ways to foster growth,” [...]
…How convenient. Poor, defenseless, honest ole JP Morgan, hacked by those sinister, evil Russians.