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Articles by Elliott Eldrich
The U.S. Nuclear Energy Dream Is Dying
Submitted by Michael McDonald via OilPrice.com, The United States was once a projected leader in the nuclear energy race. In the 20th century, the world dreamed of finding a way to provide safe, cheap, and renewable energy, and nuclear power seemed to be the manifestation of those dreams. All of this, however, seems to be coming to an end. This past week, Toshiba decided to sell its American nuclear power subsidiary at a $6 billion loss.
The New York Times Explains How It Became An "Instrument Of Russian Intelligence"
In a massive (in a literal sense, printing at 25 pages and over 8,000 words as there is little new information revealed in the piece itself) expose issued by the NYT tited "The Perfect Weapon: How Russian Cyberpower Invaded the U.S." and meant to piggyback on the WaPo's recent reporting and solidify the left-leaning media's case that Hillary lost the election, the New York Times try to summarize all the recent publicly available information on alleged Russian hackings of everything from the...
Good Riddance, 'Private' Prisons
The Justice Department plans to end its use of private prisons after officials concluded the facilities are both less safe and less effective at providing correctional services than those run by the government. “They simply do not provide the same level of correctional services, programs, and resources; they do not save substantially on costs; and as noted in a recent report by the Department’s Office of Inspector General, they do not maintain the same level of safety and security,” Yates wrote.
Republican Party To Trump: "Fire Somebody"
In the aftermath of last night's snafu involving Melania Trump's address to the RNC, the GOP has a simple message to trump: fire somebody. As the Hill reports citing Republicans gathered in Cleveland on Tuesday, the Trump campaign should take action against whoever is responsible for the similarities between Melania Trump’s address at the GOP convention and Michelle Obama’s convention speech in 2008. There is a problem: there is confusion about who is responsible, and who wrote the speech.
"Brexit Sends A Clear Message To Sick Political Elite" Marc Faber Sees "Only Good Contagion"
"We're moving into a global recession that has nothing to do with Brexit," warns Marc Faber stressing that Britain leaving the EU would not be disastrous, saying that if Switzerland can operate in a "single" market and outside of the EU so can Britain.
Hillary Clinton Rants That "Trump Would Throw Us Back Into Recession"
After a Gallup poll was released earlier this month showing that 53% of Americans prefer Donald Trump for handling the economy compared to 43% who prefer Hillary Clinton, the presumptive Democratic presidential nominee felt the need to address the issue during a speech on Tuesday. "Liberals and conservatives say Trump's ideas would be disastrous. The Chamber of Commerce and labor unions.
Trolling For War With Russia
Submitted by Patrick Buchanan via Buchanan.org, Some 50 State Department officials have signed a memo calling on President Obama to launch air and missile strikes on the Damascus regime of Bashar Assad. A “judicious use of stand-off and air weapons,” they claim, “would undergird and drive a more focused and hard-nosed U.S.-led diplomatic process.” In brief, to strengthen the hand of our diplomats and show we mean business, we should start bombing and killing Syrian soldiers.
Bernie Sanders Unveils New Campaign Slogan
Remembering The Greatest NeoCon knockout punch of all time.
BMW is the Real Threat to Tesla (Video)
By EconMatters Right now BMW doesn`t have their act together, but if they start making an electric car that looks like the combustion engine 3 series, Tesla stock is a massive short, along with Saudi Arabia, E&P companies, Oil exporting countries, and the Oil commodity as well. © EconMatters All Rights Reserved | Facebook | Twitter | YouTube | Email Digest | Kindle
Frontrunning: April 7
- The new Treasury Department rules - the third such attempt to rein in a spate of so-called tax-inversion deals - drew swift condemnation from Allergan Chief Executive Brent Saunders, who criticized them as "un-American" and "capricious." (http://on.wsj.com/1RFrGG0) - A fight among labor unions over who would control a proposed $50 million super PAC has slowed the creation of a unified effort to boost the chances of labor-friendly Democrats winning the White House and control of Congress in...
USD JPY Currency Cross Analysis (Video)
By EconMatters This year financial markets have been in Risk Off mode, and as a result the USD/JPY carry trade has reversed considerably in 2016. Just how low can we go in this reversal? At certain points a market is broken, and fair value considerations go out the window. © EconMatters All Rights Reserved | Facebook | Twitter | YouTube | Email Digest | Kindle
"Killer Wave" Confirms Big Bear Market Looms
It’s been 26 years since we developed our Negative Leadership Composite (NLC) to help identify the best buying opportunities, as well as the highest risk markets. It’s pure common sense that broad upside leadership (and absence of downside or negative leadership) signifies or confirms a new bull market. It usually does the same for second or third bull market legs. This is shown when a bullish “SELLING VACUUM” [*1] appears in the NLC.
Paul Craig Roberts Rages At "Another Phony Jobs Number"
The Bureau of Labor Statistics announced Friday that the US economy created 271,000 jobs in October, a number substantially in excess of the expected 175,000 to 190,000 jobs. The unexpected job gain has dropped the unemployment rate to 5 percent. These two numbers will be the focus of the financial media presstitutes. What is wrong with these numbers? Just about everything. First of all, 145,000 of the jobs, or 54%, are jobs arbitrarily added to the number by the birth-death model.
Recovery Wrecked: American Employee Compensation Dropped In September For The First Time Since July 2013
Despite all the promises, all the surveys, all the expectations that wage growth is coming (any minute now), September crushed the hopes (and changes) and dreams of Americans as, for the first time since July 2013, Compensation of Employees fell month-over-month. Recovery? Must be time to hike rates! Charts: Bloomberg
NatGas Crashes To April 2012 Lows On Weather, Inventories
For once, blaming the weather is not a 'joke'. Natural gas futures fell to the lowest since April 2012 as traders reacted to near-record inventories and mild weather that’s pushing back the start of winter demand for the heating fuel. The eastern U.S. may be warmer than usual from Nov. 1 to Nov. 10, according to Commodity Weather Group. Washington might reach 74 degrees Fahrenheit (23 Celsius) on Nov. 5, 12 degrees above normal, AccuWeather data show.
The US Has Added Three Times More Foreign-Born Workers Than Native-Born Since December 2007
If you thought the headline jobs print was bad, wait till you see this.
"Fannie & Freddie Are Back; Bigger & Badder Than Ever" - NYTimes Warns
The Bankruptcy of The United States United States Congressional Record, March 17, 1993 Vol. 33, page H-1303 Speaker-Rep. James Traficant, Jr. (Ohio) addressing the House: "Mr. Speaker, we are here now in chapter 11.. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner’s report that will lead to our demise.
The Financial Attack On Greece: Where Do We Go From Here?
The major financial problem tearing economies apart over the past century has stemmed more from official inter-governmental debt than with private-sector debt. That is why the global economy today faces a similar breakdown to the Depression years of 1929-31, when it became apparent that the volume of official inter-government debts could not be paid.
Greece Contemplates Nuclear Options: May Print Euros, Launch Parallel Currency, Nationalize Banks
As we said earlier today, following today's dramatic referendum result the Greeks may have burned all symbolic bridges with the Eurozone. However, there still is one key link: the insolvent Greek banks' reliance on the ECB's goodwill via the ELA.
Paul Craig Roberts: "Insanity Grips The Western World"
Just as Karl Marx claimed that History had chosen the proletariat, neoconservatives claim that History has chosen America.
China Stock Rally To Continue Unless Economic Recovery Gets In The Way, Deutsche Bank Says
The panic buying by China’s newly-minted, day trader hordes (who, as a reminder, are unwittingly conducting the greatest experiment in greater fool theory investing in history despite the warnings of China’s securities regulator) took a breather on Tuesday which we think presents as good an opportunity as any to assess what factors might intervene to derail the self-feeding margin madness that has Shanghai and Hong Kong partying like it’s 1999 on the Nasdaq.
Welcome To The Dark Side: GDP & The Non-Observed Economy
Submitted by Silvia Merler and Pia Huttl via Bruegel.org, Back in 2009, the United Nations Statistical Commission endorsed a revision to the System of National Accounts (SNA), which sets the international standards for the compilation of national accounts. As a consequence, Eurostat has amended the European equivalent of the SNA, the European System of Accounts (ESA) leading to a revision of GDP figures. The changes come from the accounting treatment of some items.
The Global Dollar Funding Shortage Is Back With A Vengeance And "This Time It's Different"
The last time the world was sliding into a US dollar shortage as rapidly as it is right now, was following the collapse of Lehman Brothers in 2008. The response by the Fed: the issuance of an unprecedented amount of FX liquidity lines in the form of swaps to foreign Central Banks. The "swapped" amount went from practically zero to a peak of $582 billion on December 10, 2008.
US Savings Rate Surges To Highest Since 2012 As Spending Slows
Following December's worse than expected drop in personal spending (and slowing groweth in incomes), analysts wewre expected the usual hockey-stick bounce... it did not happen. Despite all the exuberance over low gas prices, US personal spending dropped 0.2% in January - twice as bad as the 0.1% drop expected and the 3rd miss in a row. The spending drop was driven in large part by a slide in non-durables.
Are You Ready For Total Currency War?
Submited by Ron Holland via The Daily Bell, On February 18, 1943, German Propaganda Minister Joseph Goebbels delivered a rousing speech at the Berlin Sportpalast, asking the German people, "Sind Sie bereit für totalen Krieg?" or "Are you ready for total War?" Germany had planned for Blitzkrieg and a short war and was unprepared for a world war as the combined military forces of the United States, England and the Soviet Union crushed the Reich relentlessly and systematically.
Labor Participation Rate Drops To Fresh 38 Year Low; Record 92.9 Million Americans Not In Labor Force
Another month, another attempt by the BLS to mask the collapse in the US labor force with a goalseeked seasonally-adjusted surge in waiter, bartender and other low-paying jobs. Case in point: after a modest rebound by 0.1% in November, the labor participation rate just slid once more, dropping to 62.7%, or the lowest print since December 1977.
The Cost Of Obama's "Free" Community College Plan To Taxpayers? $60 Billion
Yesterday, to much shock and dismay, Obama revealed his latest "noble" grand vision: provide a free community college education to millions of folks. Apparently now, far too late, even the community organizer-in-chief realized that with $1.2 trillion in student loans, almost double the total outstanding credit card debt, which as the TBAC warned will rise to a mindblowing $3.3 trillion in one decade all else equal... ... and of which already one third will likely end up unrepad.. ...
Torture: An Executive Summary
Preface for Democrats: Your team is guilty, too ... There's a media storm regarding the Senate torture report ... appropriately. But much of the report was redacted by the CIA and White House. Here's what you need to know ... Initially, the torture was widespread and systemic.
USDJPY Breaks 115 (+7 Handles In 7 Days), Decouples From Less Exuberant Stock Market
Japanese bond yields have crept slowly higher since the big flush on Monday and Nikkei 225 is 2.6% below its highs on Monday seemingly pinned at 17,000. We note this as Abe & Kuroda's currency collapses yet another big figure to 115.00 (up 7 handles in 7 days from pre-FOMC) - the highest in over 7 years. The crucial 120 line in the sand should be crossed early next week at this rate...
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