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Articles by Collectivism Killz
Jamie Dimon Breaks Promise Of Silence, Says "People Who Buy Bitcoin Are Stupid"
Yesterday during JPMorgan's earnings call, CEO Jamie Dimon relayed the following... "I wouldn’t put this high in the category of important things in the world, but I’m not going to talk about bitcoin anymore." It seems 'anymore' to Dimon means 'less than 24 hours' as during a panel at an IIF event today, the outspoken bank boss - apparently still feeling threatened by the disruptive technology - lashed out again at the cryptocurrency...
Hyperbitcoinization? Bitcoin Trades At 85% Premium In Zimbabwe - Priced At $7,200
While bond notes were put forward as a panacea to diminish the flight of wealth from Zimbabwe... (as Steve Hanke noted, it was not)... The most recent attempt by the government to increase liquidity (the money supply, measured broadly) was the introduction of bond notes in November 2016.
US Special Forces Working In Close Proximity To Terrorist Hezbollah
The Pentagon has just confirmed deployment of US Special Forces in Lebanon to support the Lebanese Army in an upcoming coordinated military campaign aimed to clean out an ISIS border pocket in the country's northwest. Regional media outlets are describing the coming major new offensive as "imminent". But awkwardly for the US, the fight will necessitate some level of coordination with Hezbollah, which the US considers a terrorist organization.
Gun Owners Vs. Social Justice Warriors
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The Global Plague Of Terrorism
Authored by Gulam Asgar Mitha via The Oriental Review, Pakistan, a nation of 200 million, is witnessing a plethora of oppression, injustice, tyranny, religious exploitation and blatant lying. A majority of the population live in either various forms of poverty as victims or in fear of targeted killings and kidnappings for ransom by workers of the major political parties and religious terrorists.
"This Is Not Encouraging" - Credit Manager Index Crashes To 7 Year Lows
"Year-over-year numbers have not been encouraging of late," warns National Asscociation of Credit Managers' economists Chris Kuehl, noting that the "nice little run of steady improvement in NACM’s Credit Managers’ Index seems to have come to an end." as the index suggests the credit cycle is back at its weakest since 2009... Source: NACM As credit extended is tumbling... not at all what The Fed wants... Source: NACM As Bankruptcies soar...
Goldman Warns Of Downside Risk To $50 Oil Forecast Due To Ceasefire With Niger Delta Avengers
In the aftermath of the successful Brexit referendum, many expected France, Italy, maybe Catalonia, and the Netherlands to demand a referendum next. Instead, the loudest call for a referendum over the weekend came from an odd source: the Niger Delta Avengers, who as we profiled recently, "hold the price of oil in their hands" by mothballing Nigerian production and exports for the past two months.
Chicago Is Pushing For A Massive Bailout Of Its Public School System
It is well known that Chicago's pension liabilities have completely decimated the city's finances and currently stand at close to $20 billion.
George Soros: "Brexit Makes EU Disintegration Irreversible"
Just four days ago, the "big guns" when George Soros wrote a Guardian op-ed titled "The Brexit crash will make all of you poorer – be warned" in which he said that "as opinion polls on the referendum result fluctuate, I want to offer a clear set of facts, based on my six decades of experience in financial markets, to help voters understand the very real consequences of a vote to leave the EU." We promptly countered that Soros' set of "facts" may be clouded by his far greater equity stake in...
S&P Futures Halted Limit Down As VIX Spikes Above 26
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Pound Jumpes After JPM Brexit Poll Tracker Finds "Small Lead For Remain"
After a subdued close, moments ago sterling jumped above 1.47 again, following an internal Brexit poll tracker from JPM according to which it found a "small lead for remain" This follows JPM's report from Friday according to which it had found a 3-5% lead for "leave." That said, JPM's poll tracker is nothing more than a compilation of already available polls. This is how JPM's Malclom Barr explained it: We have three online polls to add since our last update.
America’s One-Party Government
Submitted by Eric Zuesse, originally posted at Strategic-Culture.org Today’s United States is a more realistic version of the type of society that George Orwell fictionally described in his allegorical novel 1984. Like in 1984, the American public don’t know that they’re merely the tools of some unseen aristocracy who manipulate them by fear of ‘the other’, some ‘enemy’ group – manipulate the public via the media, which the aristocracy controls.
Gold Price: USD 65,000/oz in 5 years?
16 June 2021 is five years from today. What will the gold price be 16 June 2021? Currencies are Worthless As the world’s fiat paper currencies have lost 99% or more of their purchasing power in the last 100 years, we have to understand that fiat paper currencies are not a suitable unit of account to accurately measure prices. Gold is in fact a much better measuring stick for value than paper currencies. A currency doesn’t measure anything.
The Minimum Wage Pain Continues: Hundreds More To Be Fired At Walmart
Walmart reported relatively decent Q1 results, however one item that was apparent is that costs are still a factor in the business, as operating income was lower y/y even on increased revenues. We've discussed many times the fact that Walmart has been overly eager to boost everyone's wage in order to appease the living wage crowd, and as a result the company has had to move forward with massive layoffs and store closings to try and mitigate the impact on profits.
FBI: US Homicide Rate At 51-Year Low
Submitted by Ryan McMaken via The Mises Institute, The US homicide rate in 2014, the most recent year available, was 4.5 per 100,000. The 2014 total follows a long downward trend and is the lowest homicide rate recorded since 1963 when the rate was 4.6 per 100,000. To find a lower homicide rate, we must travel back to 1957 when the total homicide rate hit 4.0 per 100,000.
The Push For Disarmament Begins
Authored by Jeremiah Johnson (Nom de plume of a retired Green Beret of the United States Army Special Forces (Airborne)) via SHTFPlan.com, The headlines and news networks are awash with the shooting that occurred on Sunday in Florida – 50 dead and 53 hospitalized in the largest single mass-shooting incident in the history of the U.S. History in the making, and as Rahm Emmanuel put it, never let a crisis go to waste.
BLS Says Jobs Openings Up; Actually, Openings Falling Fast!
Submitted by Mish Shedlock of MishTalk The BLS JOLTS (Jobs Openings and Labor Turnover) report came out today. The BLS claims jobs openings are up. Based on an alternate reports, I suggest opening are not only down, but falling steeply. The implications are huge, so let’s dive into the discrepancies. BLS: Job Openings vs. Hires That’s how the BLS sees things. Before we dive into the alternate view, let’s take a peek at mainstream media analysis.
8 Lessons That We Can Learn From The Economic Meltdown In Venezuela
Submitted by Michael Snyder via The End of The American Dream blog, We are watching an entire nation collapse right in front of our eyes. As you read this article, there are severe shortages of just about anything you can imagine in Venezuela. That includes food, toilet paper, medicine, electricity and even Coca-Cola. All over the country, people are standing in extremely long lines for hours on end just hoping that they will be able to purchase some provisions for their hungry families.
Trump Victory Would Mend US-Russia Relations: Top Kremlin Politician
While the US political and financial establishment has been firmly opposed to a Trump presidency, an unexpected supporter for the presumptive GOP candidate has emerged in Russia, where the head of the Russian Upper House Committee for Foreign Relations, Konstantin Kosachev, said that a victory for Donald Trump in the US presidential elections would provide the "shake up" Washington needs and could be the catalyst to reverse the rapidly deteriorating trend in US-Russian relations.
Opportunity Amongst The Entrails Of European Banks
In a misguided and desperate attempt to fight the headwinds of deflation (a byproduct ofunsustainable debt which the market has been trying to unwind for the past decade), central bankers have manipulated markets with a range of tools. This ranges from a lot of preposterous jawboning to quantitative easing and slashing interest rates all the way down to levels never experienced before. The markets' belief in central bankers abilities to keep this particular boat afloat has never been higher.
Silver Soars, Stocks Slump As Equity "Fear" Hits All-Time Record High
Something is going on beneath the covers... Last week saw the biggest addition of shorts across the Treasury Bond Complex in over 3 years (with record ultra shorts)... And CSFB's "Fear Barometer" just hit an all-time high... As CS' Mandy Xu notes, typically, an increase in the CSFB is caused by a combination of higher put demand and lower call demand. Interestingly, this time, the entire move was driven by the call-side.
US Drops Case Against Apple After FBI Successfully Hacks Terrorist's iPhone
Dear Tim Cook, the DoJ and FBI will no longer require your assistance in unlocking the iPhone of Syed Farook who, along with his wife Tashfeen Malik, murdered more than a dozen people at an employee holiday party in San Bernardino last December. As we outlined last week, Israel's Cellebrite, a provider of mobile forensic software, was set to assist the Feds in their attempt to unlock an iPhone.
Spot The Sucker: Brazil Stocks Edition
That’s what we wrote on Sunday evening on the way to highlighting a new note from Goldman which explains why Brazil should guard against excessive BRL strength in the months ahead. The currency is trading almost exclusively off of political headlines. On days when Rousseff’s impeachment seems likely, the BRL rallies. On days when her political career looks salvageable, the BRL sinks. A similar dynamic has taken hold with Brazilian equities.
Voters Line Up As Trump Goes For Knockout Blow On "Super Tuesday 3" - Live Feed
Well, it’s another "super" Tuesday, and that must mean Donald Trump is angling to move even closer to the GOP nomination, an outcome that’s horrified the establishment and seemed so remote just nine months ago as to be laughable. But the only one laughing now is Trump, and boy, oh boy is he laughing hard. With 460 delegates awarded to Ted Cruz’s 370, the billionaire can effectively lock up the nomination if he manages to win in Ohio and Florida today, states where Gov. John Kasich and Sen.
The Chart Every 25-Year-Old Should Ignore
There are two primary reasons Millennials aren’t saving like they should. The first is the lack of money to save, the second is the lack of trust in Wall Street. A recent post from JP Morgan, via Andy Kiersz, got me to thinking on this issue. There are two main problems with this entire bit of analysis. First, while saving $10,000 a year sounds great, the real problem is that median incomes in the U.S. for 80% of wage earners is $42,564 (via the Census Bureau, 2014 most recent data).
"This Will End Badly" Grant Williams Warns "The Probability Of War Is Increasing"
"The problem that many people have is that they think that 2008 was ‘the event’ and that it cleared the brush and we’re back to a sustainable path," but, as TTMYGH's Grant Williams explains to MacroVoices' Erik Townsend, "nothing could be further from the truth." What is more troublesome is that, as Williams exclaims, "the glue that binds all of this together, unfortunately for everybody, is faith in central bankers," and 'Laws of Nature' dictate that "this will end very badly, but end it...
It's Official: This Is The Biggest Short Squeeze Ever (And May Get Even Bigger)
US equity markets are soaring once again and two things are driving it: CTA-driven short-covering in commodities and the algo-driven squeeze of the most-shorted stocks. Having risen 13 of the last 16 days, "Most Shorted" stocks are now unchanged since The Fed rate-hike, soaring 25% in that time - the biggest squeeze in history. And Credit Suisse warns, it could get worse as the dash for trash goes on, and on, and on....
China: A 5-Year Plan And 50 Million Jobs Lost
Submitted by Raul Ilargi Meijer via The Automatic Earth blog, Going into its 10-day, 3,000 delegates National People’s Congress opening on Friday, China was facing -and very much still is- two major and interconnected problems. Both are problems that the country has never faced before -not a minor point to make. The first is a giant debt load, one that could easily be as high as $40 trillion, or 350% of GDP, once one includes the shadow banking system (watch the shadows!).
Norway Warns Sweden Will Collapse, PM Will Defy Geneva Convention To Protect Border
As you might have heard, Sweden has a refugee problem. We’ve spent quite a bit of time documenting the country’s trials and travails over the course of the last 12 months during which time Sweden has taken on more than 160,000 asylum seekers.
Neel "Break Up The Big Banks" Kashkari Speaks About TBTF - Live Webcast
After making waves last week for daring to suggest that big bank regulation has failed and that the TBTF problem has not been addressed, a problem which Kashkari himself launched with his bailout of the banks in 2008, moments ago the new president of the Minneapolis Fed started a live conversation in which he will once again address the TBTF problem, which he just repeated "has not been solved" much to the chagrin of the Fed's largest stakeholders. Watch it live below.
"There Will Be Hyperinflation" Japanese Lawmaker Warns "Kuroda Got It Wrong" With NIRP
Following The Bank of Japan's voyage into NIRP never-never-land, the market has sent a clear signal of its displeasure and now a growing number of Japanese officials (and former officials) are questioning Kuroda and Abe's Peter-Pan-ic dream that 'they' can fly.
Cable Crashes To 7 Year Lows As Brexit Battle Begins
With the UK's referendum on EU membership due in four months, it appears the market is gravely concerned about the possibility of Brexit. Despite the unleashing of Project Fear (both military and corporate fearmongery), cable (GBPUSD) has crashed 2.3% (the most in 7 years) to its lowest in 7 years, and both FX volatility and credit risk Brexit indicators are soaring to record highs. Just as we warned, Friday's dubious gains have evaporated and cable is crashing to 7 years lows...
MeeT ReaL DoNaLD GRuMP...
Now that you know what really affects "price", you should be able to control your emotions both on upticks and downswings.
"A Market Collapse Is On The Horizon"
What is ahead for 2016? Most people don’t realize how tightly the following are linked: 1. Growth in debt 2. Growth in the economy 3. Growth in cheap-to-extract energy supplies 4. Inflation in the cost of producing commodities 5. Growth in asset prices, such as the price of shares of stock and of farmland 6. Growth in wages of non-elite workers 7.
Agency Bond Rigging Probe Expands As Europe Grills Banks On SSA Debt
One thing that became abundantly clear in the wake of the financial crisis was that everything - and we do mean everything - was being manipulated by Wall Street’s biggest and most systemically important financial institutions. First we learned that the most important benchmark rate on the planet was nothing more than a tool submitters used to inflate the value of their traders’ books, something we flagged way back in 2009.
Tesla Releases Steaming Pile Of Epic "Non-GAAP" Gobbledygook; Stops Reporting Free Cash Flow; Stock Soars
Perhaps the only company's results we have more fun spreading that Netflix, is Tesla's for the simple reason that the company has managed to convert GAAP reality into a singularity of such non-GAAP bullshit, which is no longer merely laughable but is solidly inside the ridiculous, if not criminal (of course, nobody cares as long as the stock keeps rising but the second it plunges, watch those lawsuits soar), that none other company can even come close. Case in point: revenues.
Exposing The Fiction Of Mainstream Macroeconomics (In 9 Simple Questions)
Parents will tell you the most difficult questions to answer sometimes come from their children. Here are some apparently innocent questions to ask of economists, journalists, financial commentators and central bankers, which are designed to expose the contradictions in their economic beliefs. They are at their most effective using a combination of empirical evidence and simple, unarguable logic.
"What To Make Of It All?" - A Gloomy Preview Of What's Next In Global Macro From Morgan Stanley
What To Make Of It All? There are still 240 trading days left in 2016, and plenty of questions that need answers. How bad is the global economy? Is oil the driver of markets or a convenient excuse? How much bad news is really in the price? What could realistically improve things, tactically or strategically? Let's start with what we know. Global growth is weak, and our 2016 GDP forecasts remain around 0.2pp below consensus in both DM and EM.
America, It's Over! Yale Students Sign Petition To Repeal First Amendment
Satirist Ami Horowitz tests the waters at Yale University to see if today's Ivy League students would actually sign a petition to repeal the First Amendment... It goes exactly how you might think it would... Within an hour on the Yale campus, Horowitz collected over 50 signatures from student who wanted to repeal a significant part of the Constitution.
Paul Craig Roberts On Who Really Benefits From The Rate Hike
What Does Today’s “Rate Hike” Mean? The Federal Reserve raised the interbank borrowing rate today by one quarter of one percent or 25 basis points. Readers are asking, “what does that mean?” It means that the Fed has had time to figure out that the effect of the small “rate hike” would essentially be zero.
Why Has The Labor Participation Rate Plunged?
Combine this regulatory burden with the decline of entrepreneurship, and you get a bubbling brew that is toxic to self-employment/small business. Why has the percentage of the population that's in the work force declined so dramatically? It's a question many have asked, and Gordon T. Long and I attempt to answer in our most recent video program The Participation Rate Mystery--Solved. Why does the Participation Rate matter?
Majority Of Millennials Have Under $1,000 In Savings
Millennials are projected to number 75.3 million for 2015, surpassing a projected 74.9 million for Baby Boomers. The Millennials will therefore comprise a greater percentage of the population than Baby Boomers for the first time. To gain insight into the saving habits of Millennials, we recently performed a survey of those from the ages of 18 to 34. We received 2,585 responses to our survey. The results of our survey found that over 50% of Millennials have less than $1,000 in savings.
Bank of America: "Sadly, It Took World War II..."
One week ago, we explained what happened to both the US economy and the stock market the last time the Fed tightened financial conditions back in 1936 when it, like now, erroneously thought the economy was strong enough to sustain it: This is what it looked like courtesy of BofA strategist Michael Hartnett: We concluded with the following: As can be seen on the above, in 1938, the stock market began to recover some.
FT Shocker: EU Unveils Standing Border Force That Will Act "Even If A Government Objects"
Last weekend we wrote that in Europe's attempt to contain the greatest refugee crisis since WWII, it would directly take control over the border control of the one country which over the summer lost its sovereignty (but at least it still has the euro), and which serves as a springboard for tens of thousands of migrants to proceed onward with their journey to Germany (where as reported earlier, they are no longer desired, as their continued arrival results in a plunging approval rating for...
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