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Articles by Dave Whiteman
German Foreign Minister and Former MI6 Boss: US-Russia Tensions Now More Dangerous than During the Cold War
Preface: I will add quotes from U.S. intelligence officials and Russia experts as I receive them. Germany’s Foreign Minister – Frank-Walter Steinmeier – wrote earlier this month that tension between the US and Russia is worse than during the Cold War: It’s a fallacy to think that this is like the Cold War. The current times are different and more dangerous.
ALERT: US Real Estate Crash Imminent as Matthew threatens Miami Luxury Market
It isn't often such a clear market signal is painted such as the impending real estate market collapse. It doesn't take sophistocated algorithms or an MBA from Harvard to add up the math and the data and see that we're on the precipice of a historic real estate asset cliff; and that the market is waiting for an 'event' to tip it over. That event, it can be Hurricane Matthew. That means this can all unfold THIS WEEK.
General Market Commentary 10-2-2016 (Video)
Get your reading glasses out...
Mainstream Media Meltdown: CNN, WaPo Front Page Chaos After Hillary Faints
As Hillary Clinton was suffering an unfortunate "medical emergency", confirming once and for all that all those "conspiracy theories" about her health were all just unconspiracy facts, the front page of CNN, which as a reminder one month ago admitted "we couldn't help [Hillary] any more than we have", devolved to a state of chaos, as the following snapshot of the two main stories on it as of moments ago demonstrates: But if CNN was chaos, the Washington Post devolved into outright...
Dispelling The Norwegian Housing Myth
Submitted by Alexander Grover in Oslo, Norway Recently, Dagens Næringsliv published an article where an economist from DnB (Norway’s largest bank) stated that Norway is not in a housing bubble although conditions resemble one and prices can still fall.
Belgian Police Warn Citizens Not To Use Facebook's Reaction Buttons
Belgian police are warning users not to use the Facebook Reactions feature to respond to posts if they want to protect their privacy. In February, the series of six emoticons, allowing users to express a range of emotions from anger to love, were added to the original thumbs-up option. They came in response to calls for a ‘Dislike’ button.
London's Ex-Mayor Compares The European Union To Hitler
If the US presidential election has devolved into a comical soundbite free-for-fall, then the UK has its hands full with Brexit, and how the two opposing camps are approaching the UK's vote to exit the Eurozone on June 23.
Minimum-Wage Blowback - Wendy's To Employ Self-Service Kiosks At 6,000 Locations
In direct response to higher wage prices and the firming of commodity prices, Wendy’s is going to install self-service ordering kiosks at 6,000 locations. McDonald’s is expected to follow at a slower pace. Wendy’s (WEN) said that self-service ordering kiosks will be made available across its 6,000-plus restaurants in the second half of the year as minimum wage hikes and a tight labor market push up wages.
Arizona Governor Ducey Vetoes Gold
In my testimony in support of the gold legal tender bill this year, I discussed failing pension funds. Retirees who count on their pension checks are being told that their monthly check will be reduced by up to 60%. This is devastating to them, obviously. What isn’t obvious is the cause. In the news coverage of this, the angry pensioners are blaming the union, the fund manager, and Wall Street in general. None of them point the finger where it needs to be pointed.
'Guccifer' And The Kremlin's 20,000 Hacked Emails - In The Eye Of Hillary's Perfect Storm
The bad legal news for Hillary Clinton continued to cascade upon her presidential hopes during the past week in what has amounted to a perfect storm of legal misery. Here is what happened. Last week, Mrs. Clinton’s five closest advisors when she was Secretary of State, four of whom remain close to her and have significant positions in her presidential campaign, were interrogated by the FBI.
China's Most Innovative Capital Outflow Yet: Buying Legendary Italian Football Club AC Milan
With the Chinese government having dramatically clamped down on various forms of capital flight in recent months (incidentally, a key driver for the surge in the price of bitcoin over the past year), Chinese residents have been coming up with increasingly more innovative forms of capital flight. One, noted previously, has been the unprecedented scramble to purchase foreign companies with no regard for price.
Ten. Million. Dollars.
I have written about my town, Palo Alto, many times here on the Slope of Hope (a sampling can be found by clicking here), and these posts tend to focus on the rapidly-escalating real estate prices. I personally think we're past the top at this point, since I've noticed the For Sale signs in my neighborhood are actually just sitting there. It used to be that houses sold instantly. At this point, I'm noticing the signs lingering for weeks. Something has changed.
China Bond-Sale Cancellations Soar As BofA Warns "Default Risk Is Mispriced"
While BofA's base-case calls for "no crisis," the soaring levels of bond-sale cancellations hitting the non-government credit markets is starting to make Asia strategist David Cui nervous... Year-to-date, 241 non-government bond issuances had been cancelled or postponed; 120 so far in April alone, vs. 315 in total in 2015 (Chart 1). At this stage, the situation appears manageable – in April month-to-day, issuers successfully sold 709 bonds (worth Rmb1.04tr), so the success rate is still above 85%.
All Depressions Are Not Created Equal
It has been said that history may not repeat but it sometimes rhymes. Just as the generals always seem to fight the last war people seem to prepare for the last depression. Times change and the mechanism that leads to misfortune changes with it. Looking at the past may not give us the clear answer to how to deal with the future but it can help us to determine what might happen and how to deal with it when the time comes. We always look at the last incident because that is what we know.
The Separation Of Bathroom & State
Submitted by Roy Cordato via The Mises Institute, The saga of the so-called Charlotte bathroom ordinance — and the state of North Carolina’s response to it — has taken on a life of its own. At the national level leftists are accusing North Carolina of bigotry while, in the name of tolerance, a growing list of performers and businesses are boycotting the state.
Why Has An "Apolitical" Fed Governor Donated To Hillary Four Times?
Any time a Fed president, governor or chairman trots out the trite cliche that the Fed is "apolitical" we can't help but laugh for one simple reason: not only is the Fed not apolitical, but is very closely ideologically tied with whichever party promotes deficit spending which by definition is inflationary: more deficits mean more debt, means more opportunity for the Fed to show off its "inflation" creating skills; and in a Keynesian world, a stable 2% inflation is the lubricant that drives...
Government Officials Admit to ECONOMIC False Flag Operations
They also involve faked economic events and financial casualties.
Dow Tops 18,000 As Doha Dud Didn't Matter
It's crazy pills time - no doubt... Doha was a dud and Morgan Stanley's 52% crash in earnings was better-than-expected... Did you really expect anything else...? This means The Fed has a major problem - no turmoil means no excuses for hiking rates. Since Dec FOMC Hike, everything is now awesome: But for now - this is the LOL WTF Chart of The Day...Dow tops 18,000 as EPS expectations collapse... Dow 18,000 was saved atthe second by a quick VIX slam... Futures markets show the day's real moves...
Fiat Money Fairytales
The full article can be downloaded as PDF here. The financial media are beginning to entertain the viewpoint that the recent policies of the Federal Reserve, ranging from zero-rates to quantitative easing to bank bailouts, are an important cause of rising inequality not only in the US but around the world. This past week, multiple media sources published an op-ed by eminent scholar George Gilder to this effect.
Ron Paul On The Fed's "No Win" Situation
Submitted by Ron Paul via The Ron Paul Institute for Peace & Prosperity, This week, President Obama and Vice President Biden held a hastily arranged secret meeting with Federal Reserve Chairman Janet Yellen. According to the one paragraph statement released by the White House following the meeting, Yellen, Obama, and Biden simply “exchanged notes” about the economy and the progress of financial reform.
Caught On Tape: Russian Military "Batmobile" Seen In Action For The First Time
While the world's attention has been drawn to recent Russian military involvement in Ukraine, and more recently in Syria, a far longer-running "hot war" has been taking place in the north Caucasus region in the Russian republics of Chechnya and Dagestan, where for nearly two decades, Muslim radicals have violently attempted to create an independent Islamic republic, leading to frequent confrontations between Islamic terrorist and the Russian military.
A Crisis In American Housing
Americans are realizing something is wrong with the system. You can see it this year with the rise of outsiders in both political parties. People realize the system is rigged. Instead of some folks that kowtow and simply move forward like subservient lemmings, millions are mobilizing and taking action. Many are voting with their wallets. The number of renter households has increased by 10 million over the last decade while net homeowners has been stagnant.
Why All Central Planning Is Doomed To Fail
Authored by Bill Bonner of Bonner & Partners (annotated by Acting-Man.com's Pater Tenebrarum), [ed. note: this article was originally published on March 5 2013 – Bill Bonner was on his way to his ranch in Argentina, so here is a classic from the archives] We’re still thinking about how so many smart people came to believe things that aren’t true. Krugman, Stiglitz, Friedman, Summers, Bernanke, Yellen – all seem to have a simpleton’s view of how the world works.
Silver Soars, Stocks Roar On 2nd Biggest Short-Squeeze Since 2011
After a week like this: This seemed appropriate: This was the worst two-week period for US Macro surprises since Dec 1st 2015... On the week it was all about a huge short-squeeze... This was the 2nd biggest weekly short-squeeze since Dec 2011 Which left the Small Caps and Trannies top on the week.. Energy and Financials had a good week but faded notably the last 2 days...
SocGen: "Now We Know Why The Fed Desperately Wants To Avoid A Drop In Equity Markets"
With the ECB now unabashedly unleashing a bond bubble in Europe of which it has promised to be a buyer of last resort with the stronly implied hint that European IG companies should issue bonds and buy back shares, and promptly leading to the biggest junk bond issue in history courtesy of Numericable, it will come as no surprise that the world once again has a debt problem.
The Panama Papers Could Really End Hillary Clinton's Campaign
With Senator Bernie Sanders winning seven of the last eight delegate battles — the most recent was Tuesday night’s Wisconsin victory — there’s a feeling in the air that most progressives haven’t felt since the Iowa caucus. It speaks to a hard truth Hillary Clinton and her choleric campaign staffers will encounter when they wake up in the morning: Bernie really could still beat Clinton and become the Democratic nominee for president. No way, some of you are saying.
Where One Swiss Bank Will Be Buying Gold
While the furious rally that proppeled gold higher in the first quarter - by the most in 25 years - appears to have fizzled, it is hardly over.
Valeant Tumbles As Lenders Demand Two Pounds Of Flesh For Covenant Waivers
Two weeks ago, the catalyst that pushed Valeant CDS to record wide levels implying a 55% probability of default over 5 years, while sending the company's stock plunging, was news that Valeant was scrambling to engage its lenders to obtain a default waiver to its bank credit agreement to eliminate a technical default that arose when it didn’t file its 10-K before March 15.
Fitch Downgrades Chicago After "Worst Possible Outcome" In State Supreme Court Pension Reform Bid
Last week, Rahm Emanuel got some bad news. The Illinois Supreme Court agreed with Cook County judge Rita Novak’s ruling that the Chicago mayor’s scheme to put worker pension plans on a sustainable path was unconstitutional. "These modifications to pension benefits unquestionably diminish the value of the retirement annuities the members of (the city workers and laborers funds) were promised when they joined the pension system,” the high court wrote in its opinion.
Price Controls May Be On the Way
Submitted by Paul-Martin Foss via The Mises Institute, If you thought negative interest rates were as bad as it could get with central banks, you might be in for a surprise. Central banks have been so spectacularly unsuccessful with their accommodative monetary policies that they are discussing pulling out all the stops to get the results they want. They fail to realize that the reason prices aren’t rising is because they really want and need to fall.
“The Greatest Crash Of Your Life Is Just Ahead…” - Harry Dent Warns
“The Greatest Crash Of Your Life Is Just Ahead…” – Harry Dent Warns Harry Dent, best-selling author and economist, has warned that the stock bubble in the U.S. today is the biggest in history and that the “greatest crash of your life is just ahead…” Writing on his website EconomyandMarkets.com, Dent warned that The story on Wall Street and CNBC continues to be that we’re in a correction and this is a buying opportunity.
FBI Cancels Encryption Showdown With Apple After "3rd Party" Showed Them How To Unlock iPhone
Following a mysterious "third party"'s willingness to show The FBI how to unlock San Bernardino killer Farook's iPhone, court records indicate that the US government wishes to cancel tomorrow's showdown with Apple, filing a motion to vacate the hearing. The US government filed a motion on Monday to vacate Tuesday’s hearing against Apple. "Outside Party" to the rescue - wonder if they were Russian?
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