Archive for the ‘Uncategorized’ Category
1 winning ticket sold in $540M Mega Millions
Friday’s drawing produced one winning ticket for the seventh largest lottery jackpot of all time: A $540 million Mega Millions. …read more
Source: 1 winning ticket sold in $540M Mega Millions
A Portrait Of Quantitative Failure
By Tyler Durden
Simply put, it's not working stupid!
Especially in Japan…
But, as BofAML's Michael Hartnett notes, the details of what has been done and the consequences of those actions is, simply put, just embarrassing for all the central planners…
- Dec’17: first FOMC meeting which market assigns >40% probability of rate hike
- 659: number of global rate cuts since Lehman bankruptcy
- $12.9tn: outstanding amount of bonds currently yielding <0% (= 29% of total)
- $24.6tn: outstanding amount of global central bank holdings of financial assets
- -1.1%: the most negative bond yield in the world (3-year Swiss government bond)
- 107 years: time it takes to double your savings in 1-year US deposit account
- 1387 years: time it takes to double your savings in 1-year German deposit account
- 6932 years: time it takes to double your savings in 1-year Japanese deposit account
- 5.7%: level of investor cash as % AUM (Jul’16 FMS), highest since Nov’01
- $1.6tn: level of cash at US corporate sector, near record high
- 1978: the year US labor market participation rate was as low as it is today
- 21,084,000: current number of unemployed men and women in Europe
- 49%, 45%, 39%: youth unemployment rate in Greece, Spain & Italy
- 0.16%: the infinitesimal increase in Japan’s real GDP in the past 8 years
- 25%: annualized YTD return from global government bonds in 2016, a 30-year high
Eisteinian Yellenian madness… “doing the same thing over and over again and expecting different results.”
Source: A Portrait Of Quantitative Failure
How George Soros Singlehandedly Created The European Refugee Crisis – And Why
By Tyler Durden
By David Galland and Stephen McBride, Garret/Galland Research
How George Soros Singlehandedly Created the European Refugee Crisis – And Why
George Soros is trading again.
The 85-year-old political activist and philanthropist hit the headlines post-Brexit saying the event had “unleashed” a financial-market crisis.
Well, the crisis hasn’t hit Soros just yet.
He was once again on the right side of the trade, taking a short position in troubled Deutsche Bank and betting against the S&P via a 2.1-million-share put option on the SPDR S&P 500 ETF.
More interestingly, Soros recently took out a $264 million position in Barrick Gold, whose share price has jumped over 14% since Brexit. Along with this trade, Soros has sold his positions in many of his traditional holdings.
Soros had recently announced he was coming out of retirement, again.
First retiring in 2000, the only other time Soros has publicly re-entered the markets was in 2007, when he placed a number of bearish bets on US housing and ultimately made a profit of over $1 billion from the trades.
Since the 1980s, Soros has actively been pursuing a globalist agenda; he advances this agenda through his Open Society Foundations (OSF).
What is this globalist agenda, and where does it come from?
The Humble Beginnings
The globalist seed was sowed for young George by his father, Tivadar, a Jewish lawyer who was a strong proponent of Esperanto. Esperanto is a language created in 1887 by L.L. Zamenhof, a Polish eye doctor, for the purpose of “transcending national borders” and “overcoming the natural indifference of mankind.”
Tivadar taught young George Esperanto and forced him to speak it at home. In 1936, as Hitler was hosting the Olympics in Berlin, Tivadar changed the family name from Schwartz to Soros, an Esperanto word meaning “will soar.”
George Soros, who was born and raised in Budapest, Hungary, benefited greatly from his father’s decision.
Allegedly, in 1944, 14-year-old George Soros went to work for the invading Nazis. It is said that until the end of the war in 1945, he worked with a government official, helping him confiscate property from the local Jewish population.
In an 1998 interview with 60 Minutes, Soros described the year of German occupation as “the happiest time in my life.”
Soros’s Venture into Finance
When the war ended, Soros moved to London and in 1947 enrolled in the London School of Economics where he studied under Karl Popper, the Austrian-British philosopher who was one of the first proponents of an “Open Society.”
Soros then worked at several merchant banks in London before moving to New York in 1963. In 1970, he founded Soros Fund Management and in 1973 created the Quantum Fund in partnership with investor Jim Rogers.
The fund made annual returns of over 30%, cementing Soros’s reputation and putting him in a position of power—one he utilizes to this day to advance the agenda of his mentors.
The Currency Speculations That Threw Britain and Asia into Crisis
In the 1990s, Soros began a string of large bets against national currencies. The first was in 1992, when he sold short the pound sterling and …read more
Source: How George Soros Singlehandedly Created The European Refugee Crisis – And Why
The Dallas Massacre: This Is The Kind Of Civil Unrest That I Have Been Warning Is Coming To America
Today is a day to mourn and pray for America. In Dallas, Texas last night, a hate-filled gunman ruthlessly started gunning down police officers. A total of 12 officers were shot, and five of them are now dead. If we do not learn to love one another, there is no hope for us as a nation. Unfortunately, the love of most people has grown cold, and today messages of hate and division from people on all sides of the debate are being posted all over social media. The massacre in Dallas represented the deadliest day for law enforcement officers in the United States since 9/11, and this is the kind of civil unrest that I have been repeatedly warning is coming to America. I have warned about this in my books, on radio and on television. But of course I am best known for my articles, and the following are just a handful where I warned about what we would soon see…
–A Spirit Of Violence And Civil Unrest Is Rising In America
–Trump Rallies Reveal Increased Tensions Among Americans As This Nation Plunges Toward Civil Unrest
–Civil Unrest Has Begun In Baltimore And This Is Only Just The Start Of Something MUCH Bigger
–Prepare Your Homes And Neighborhoods For The Violence That Is Going To Sweep America
Earlier this week, I warned that “the thin veneer of civilization that we all take for granted is evaporating“, but this is one instance when I am definitely not happy to have been proven right. Shooter Micah X. Johnson was a 25-year-old former Army reservist with no criminal history. He was deployed to Afghanistan from November 2013 to July 2014, and what he experienced over there may have deeply scarred him mentally and emotionally. According to the police, the motivation for the shooting was because he “wanted to kill white people, especially white officers”…
Johnson, from Mesquite, Texas, a 20 minute drive from Dallas, reportedly told law enforcement that he was a veteran, and claimed to have acted alone, countering initial reports that as many as four gunmen were involved in the massacre.
‘The suspect said he was upset about Black Lives Matter. He said he was upset about the recent police shootings of black suspects. He said he was upset at white people. The suspect stated he wanted to kill white people, especially white officers,’ Dallas Police Chief David Brown revealed at a 7:30am press conference.
Around 11pm on Thursday, cops cornered Johnson at El Centro College and attempted to negotiate, but four hours later the talks failed and a …read more
Source: The Dallas Massacre: This Is The Kind Of Civil Unrest That I Have Been Warning Is Coming To America
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Breakdown Of US Citizens Killed By Cops In 2016
By Tyler Durden
In the U.S. a total of 509 citizens have been killed this year alone by police. The body count for the previous year stands at a grand total of 990 people shot dead, according to the Washington Post. As the below infographic from Statista shows, most of those killed by police are male and white. 123 of those shot were Black Americans. This is a relatively high share, keeping in mind that close to 13 percent of Americans belong to that ethnic group.
You will find more statistics at Statista
What’s also disturbing is that according to the data compiled by the Washington Post a big proportion of those killed obviously showed signs of mental illness. Of the 509 killed this year at least 124 were thought to be suffering from such conditions.
Many of those killed carried guns according to police records. In at least 22 cases officers mistook toy guns for the real thing.
Source: Breakdown Of US Citizens Killed By Cops In 2016
If Senseless Violence Continues, America Will Be A Total Police State In No Time
By Tyler Durden
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
As soon as I saw the video of the Alton Sterling shooting on Wednesday, I had a very, very bad feeling about where this was all headed. In fact, I became so concerned I wrote a post titled, A Period of Major Civil Unrest is Coming – How to Win an Inevitable Confrontation with the Status Quo. Here are a few of the key warnings and suggestions I provided:
Increasingly, the general public is coming to the very unpleasant realization that they live in a corporate oligarchy in which they are subjects rather than citizens. The more they are pushed into a corner, the sooner they will lash out in all sorts of ways.
The generational level revolts I anticipate have been a long time coming and will emanate from both rural, largely white America, as well from inner city communities populated mostly by minorities. The key thing we must all bear in mind going into the turbulent times ahead is that we are all in this together.
The other key variable as to whether the forthcoming rebellions result in any positive change will revolve around what form they take. When I say civil unrest, I am well aware that this likely means some degree of violence and looting; however, such expressions of frustration will do far more harm than good. We must recognize that as it stands the status quo has no actual legitimacy, and therefore can only succeed if it’s able to portray the abused public as the bad guys, and sell us on the idea that the U.S. government is the only thing standing between us and violent mobs.
If you want to win this battle, you need to be smart. Winning the hearts and minds of the general public is absolutely critical, and shouldn’t be difficult in an environment in which the establishment discredits itself on a daily basis.
While we don’t know who the police murderers in Dallas were, or their motivations, we do know one thing. Their actions will unquestionably have several very counterproductive and dangerous outcomes.
1. Further divide the country in general.
2. Further the already wide distrust between the police and the general public.
3. Increase the likelihood of more violence, and the eventual imposition of a total police state in America.
Either the people who committed the murders had the above goals in mind, or they were just stupid, violent criminals who didn’t have the meager sophistication necessary to understand the extremely negative implications of their actions.
Unfortunately for us, the horrible massacres that occurred in Dallas are exactly the sort of thing that the status quo wants to see. It further divides the public and it creates a justification for more militarization of the police, more surveillance and less civil liberties. Guess who’s going to be most negatively impacted by …read more
Source: If Senseless Violence Continues, America Will Be A Total Police State In No Time
Maine’s Advocate For $12 Minimum Wage Tried To Hire People For $10
By Tyler Durden
Ready to be underpaid to fight for the right to demand a raise? In Maine there is an ironic situation taking place. One of the key players fighting to raise the minimum wage in Maine has recently been exposed as a hypocrite. Why? According to the Portland Press Herald, Maine People’s Alliance (MPA) has been one of the louder voices fighting for an increase to the state’s minimum wage from $7.50 to a new level of $12 per hour. However, we’ve learned that MPA had posted an ad offering $429 bi-weekly, for 21.5 hours of work per week. That works out to just over $10 per hour.
Dana Connors, president of the Maine State Chamber of Commerce, said he takes Tipping at his word that the posting was a mistake, but the “optics smack of a double standard.” The state chamber has been one of the leading groups opposing the minimum wage referendum because, Connors said, it increases the wage too much too fast, and because it phases out the credit for tipped workers, such as restaurant servers.
“If this is so important to MPA, it’s an unfortunate mistake. They should certainly practice what they preach,” he said.
Michael Saltsman, research director for the Employment Policies Institute, a free-market group partially funded by the restaurant industry and an opponent of minimum wage increases, tracks the issue around the country and saw the MPA’s job posting this week.
“I think it’s consistent with the ‘Do as I say, not as I do’ attitude of those who support increasing the minimum wage,” Saltsman said. “Now it seems like they are adjusting the wage as they go after being called out.”
The MPA contested the mistake, citing a typo. The ad apparently offered $429 bi-weekly pay instead of $510. We’re perplexed how $429 was entered instead of the $510 level that would have MPA putting their money where their mouth is. The real shady part is that the organization has claimed it was a typo even though the Portland Herald claims MPA has Facebook posting going back as far as February advertising $480 bi-weekly for full time employment (Zero Hedge was unable to confirm the existence of such job offerings).
The issue with the minimum wage hike debate is the unintended consequences most forget to even acknowledge.
For example: As we explained before, if one feels under-compensated for their knowledge, then raising the minimum wage will alienate everyone else, even those who perhaps at first didn’t believe they we under-compensated for their intelligence.
So before we start this again and we have to listen to ankle deep analysis explain to us how raising the minimum wage will help all of us achieve a better standard of living, please review the above chart and consider the unintended consequences, lest you fail upward and become the …read more
Source: Maine’s Advocate For $12 Minimum Wage Tried To Hire People For $10
Jobs Bounce Sends Stocks Soaring To Record High As Bond Yields Hit Record Lows
By Tyler Durden
Well punk, “do you feel wealthy?”
First things first, there is this… (2130.82 record close, 2134.72 record intra high)
- *S&P 500 RALLIES 1.6% TO 2,130.83, RISING ABOVE RECORD CLOSE
And then there is this… for 2016…
And since Brexit…
And today…
While on the topic – cash indices reached pre-Brexit levels…
Stocks went sideways after Europe closed…
And S&P Futures managed to run the stops above the Brexit peak…
But financials remain below pre-Brexit levels…
Despite the best efforts to mash VIX, S&P cash couldn't hold above the record close…
Since June's dismal payrolls print, Gold is the major outperformer…
But today's “goldilocks” data meant buy everything…
Trannies rose most in 4 months today – having “death-crossed” on Wednesday…
VIX has dropped over 48% in the last two weeks… the biggest collapse in fear ever….
And stocks and oil decoupled…
Only short-dated yields rose on the day and week as the long-end continued to plunge..
2s30s has flattened for 6 straight days, crushing the yield curve by 28bps in the last 2 weeks – the biggest crash since the US downgrade in 2011
So curve is collapsing… BUY BANKS??!!
30Y Yields closed on the lows today… at an all-time record low…
Stocks-to-Bonds yield spread near 8 year highs…
On the day, the USD Index ended unchanged, despite some significant swings around the payrolls print…
Commodities were mixed with PMs gaining but crude and copper getting crushed…
- Copper's worst week in 6weeks
- Crude's worst week in 6 months
- Gold up for the 6th straight week…longest streak since Aug 2011
- Silver up for the 6th straight week…longest streak since April 2011
So – to summarize – Buy Stocks, Buy Bonds, Buy Gold, Fade the Dollar, Sell VIX… sounds an aweful lot like front-running QE4 trades.
Charts: Bloomberg
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