by Mark Howitt, World Public Union:
(Full declaration posted below) After several threats of nuclear attack, it seems that North Korea has finally taken the next step in their offensive by declaring a “State of War” with South Korea and it’s allies, including the United States. For the last couple of weeks there has been escalating tensions on both sides of the border and these tensions have now reached a critical point where [...]
20 Million—Why Is this Number Critical for Copper?
Source: Sally Lowder of The Metals Report (3/19/13)
For resource expert Joachim Berlenbach, fund adviser with Switzerland’s Earth Resource Investment Group, copper is shining brighter than gold—he even does some back-of-the-envelope calculations to show how global development could create a serious supply bottleneck. In his first Metals Report interview, Berlenbach calls on investors to up their risk appetites and fund mine development, providing some [...]
The exponential advancement of technology has reached a critical point where not even governments can project the direction humanity is headed. Some researchers forecast an eventual singularity where the lines between humans and machines are blurred.
Discussions of warfighting domains in the past have included land, sea, air, and space. Recently cyber was added as a current domain of concern. But as cyber capabilities continue to evolve and combine with enablers of rapidly [...]
New London Mayor Daryl Justin Finizio spoke at SGA’s general assembly meeting Thursday night about New London’s financial situation and upcoming budget referendum.
“We are at a very critical point in the history of New London. We’re broke – flat broke, in fact,” Mayor Finizio said.
He explained that the current situation is due to years of financial mismanagement including overestimation of revenues, poor record keeping and an overall negative attitude towards [...]
It will come as no surprise to many but everyone’s favorite enemy #1, the US banker, decided to give himself a well-earned pay-rise in 2011 – according to data from Moody’s Analytics (via Crain’s). What is perhaps a little more surprising is the sheer gall of it given that the financial industry profits plunged over 70% from $27.6bn in 2010 to a mere $7.7bn in 2011. While the rise in salaries [...]
Talk of a possible military strike on Iran’s nuclear facilities dominated the Israeli press on Friday, a day after Defense Minister Ehud Barak said the issue had become more “urgent.”
“[Prime Minister Benjamin] Netanyahu and Barak are determined to attack Iran in the autumn,” trumpeted a front-page headline in top-selling daily Yediot Aharonot.
According to Nahum Barnea and Shimon Shiffer, two of the paper’s most senior writers, if Netanyahu and Barak were to [...]
US’ National Intelligence Estimate report says Tehran rapidly approaching critical point after which its nuclear program will no longer be vulnerable to a military strike
Netanyahu and Barak steadfast in gearing up for Iran strike Prime minister and defense minister seemingly unwilling to wait for Washington to back them up
Gantz: We Need to be Prepared for a Multi-Front War
Top Israel official: Iran nuclear threat bigger than one Israel faced before Six-Day War
Critical point here from Jefferies David Zervos. People have stopped talking about Europe. All they want to talk about is the US:
I was then in NYC for meetings Tuesday where there was a continued lack of interest in the European situation. As we went through May and June, the Greek election, the Spanish bank bailout and the EU leaders meeting were the only topics up for discussion at client meetings. [...]
From Peter L. Brandt:
When a weather market develops in the grains, a chartist might as well throw away his or her charts.
The jet stream has been pushed north all winter and spring. The result is dry weather at a critical point in the growing season in much of the corn-belt states.
Grain prices are strong today because there is no rain in the forecast. If we come back after the July [...]
via google translate:
Chinese banking system over the past 12 days of racing to raise deposit interest rates positive initiatives, did not prevent the critical point in time deposits in the June quarter are still flooding in the loss of trend.
China’s banking system over the past 12 days racing to raise deposit interest rates positive initiatives, did not prevent the critical point in time deposits in the June quarter are still [...]
Today top Citibank analyst, Tom Fitzpatrick, warned that despite the rally, if Europe does not take decisive action we will see this crisis accelerate. Fitzpatrick, a 28 year veteran and top analyst at Citibank, which has $1.3 trillion in assets, also said, “the concern levels are still there, and if anything they are becoming elevated.” Fitzpatrick also provided some excellent charts which illustrate the ongoing train wreck that is Europe. Here [...]
With continued volatility in many of the key global markets, 40 year veteran, Robert Fitzwilson wrote this exclusive piece for King World News. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the United States. Here are Fitzwilson’s observations: “We know that the world’s debt-based, fiat money system can only be revived and sustained by the combination of more debt creation and consumption. We have arrived [...]
BY RICK ACKERMAN ON APRIL 18, 2012 1:48 AM GMT
[We have argued here before that it is lies, systematic fraud and blatant duplicity by the central banks that have kept the global economy afloat in recent years. In the essay below, a regular in theRick’s Picks forum who goes by the handle ‘Buster’ provides as succinct and elegant an explanation of this as we have seen. His thoughts were originally published in the forum, [...]
Since the start of the year, global markets have been apparently buoyed by the understanding that Draghi’s shift of the ECB to lender-of-last-and-first-resort via the LTRO has removed a significant tail on the risk spectrum with regard to Euro-banks and slowed the potential for contagious transmission of any further sovereign stress. In fact the rally started earlier on the backs of improved perceptions of US growth (decoupling), better tone in [...]
The spread differential between Japan sovereign CDS and UK sovereign CDS (both denominated in USD) is near its widest on record (Japan 55bps wider than UK). Furthermore, Japan’s CDS trades notably wider (101bps in 5Y) than its bond’s yields (which are the domestically held and subdued by local savings unlike the USD-denominated CDS market) while UK CDS trades 24bps inside its Gilts 5Y yield – quite a difference. Flows have [...]
While European leaders would prefer to eschew concerns about individual sovereign nations’ ability to pay, borrow, and spend in favor of an aggregate EU that they believe reflects better in the world comparisons (if any aliens are considering stimulus support we assume), Goldman’s Hugo Scott-Gall is out today with his normal compendium of insightful charts. One specifically caught our eye on How Governments Spend as we makes the critical point [...]
Well, Americans, do not count on the Supreme Court or the power of the law to help you force your utility companies into reducing emissions and helping to stem climate change. The Supreme Court this week rejected a lawsuit against America’s five biggest power companies. The lawsuit would have declared the emissions from those power companies a “public nuisance” and would have forced them to cut [...]
Pat Buchanan on the sex scandal surrounding IMF director Dominique Strauss-Kahn: “I will tell you. Look, you have the Charlie Sheen of global finance running the IMF. The seriousness of it is this: He is dead as a presidential candidate in France. Good news for Sarkozy, he’s out of the IMF, but more important, this is going to bring a focus on the IMF, which [...]
“In only a few days, a number of quantitative long-short equity funds experienced unprecedented losses in seemingly â€˜normalâ€™ market conditions. We do not suggest here that the magnitude of hypothetical losses match those from 2007, however, there is little question that the rotation has drawn attention of many quant investors.” In other words, the massive groupthink trade that we have been warning about [...]
Earlier, we posted a link to Boston University’s Lawrence Kotlikoff who penned an OpEd for Bloomberg titled simply enough “U.S. Is Bankrupt and We Don’t Even Know.” In it Kotlikoff took a direct stab at Krugman and all the other hard core Keynesian paradise or bust demagogues: “Some doctrinaire Keynesian economists would say any stimulus over the next few years wonâ€™t affect our ability to deal with deficits in the [...]
Keiser Report light-hearted tongue in cheek but using real business and finance news, which makes it so laughable, says FED is trying to backstop EU so called bailout, by adding more US debt in printing funny money, which is using debt to back debt and no real money is available as they are all really already bankrupt. Quite a lot of interesting debates in this edition and funny demonstration of [...]