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By Tyler Durden

Update: Donald Trump's campaign Monday demanded that the State Department release Hillary Clinton-era government emails about a pending 12-nation trade deal that Trump says will destroy American jobs and hurt the American economy.

“Hillary Clinton's TPP emails should absolutely be released, as her support for TPP threatens to permanently undermine U.S. workers and sovereignty,” said Trump's senior policy advisor, Stephen Miller, in a statement to IBT. “Hillary is 100 percent controlled by corporate interests, including foreign corporate interests, and it is essential these emails see the light of day.”

“There is zero doubt that, if elected, Hillary Clinton would enact the TPP — just like she enacted the Columbian [sic] deal and the Korean deal after claiming to oppose both,” Miller wrote in apparent reference to recently released documents about Clinton's work on those deals as Secretary of State after she had previously pledged to oppose them during her 2008 presidential campaign.

“Hillary's careful wording on TPP in her primary battle — that she now disapproves of it only 'in its current form' after months of lobbying for it — is further proof that she has every intention of ramming it down the throats of the American people, sending millions more jobs overseas. Hillary is the outsourcing candidate.”

Even CNN is stunned at The White House's (and Hillary's) hypocrisy…

As we detailed earlier, with Hillary Clinton unclear on her 'real' support for ObamaTrade, and international trade bound to be a crucial issue during the 2016 US Presidential campaign, it will likely come as no surprise to many that, as International Business Times reports, the Obama administration has now abruptly blocked the release of Clinton's State Department correspondence about the so-called Trans-Pacific Partnership (TPP), after first saying it expected to produce the emails this spring.

The decision came in response to International Business Times' open records request for correspondence between Clinton’s State Department office and the United States Trade Representative. The request, which was submitted in July 2015, specifically asked for all such correspondence that made reference to the TPP.

The State Department originally said it estimated the request would be completed by April 2016. Last week the agency said it had completed the search process for the correspondence but also said it was delaying the completion of the request until late November 2016 — weeks after the presidential election. The delay was issued in the same week the Obama administration filed a court motion to try to kill a lawsuit aimed at forcing the federal government to more quickly comply with open records requests for Clinton-era State Department documents.

…

If IBT's open records request is fulfilled on the last day of November, as the State Department now estimates, it will have taken 489 days for the request to be fulfilled. According to Justice Department statistics, the average wait time for a State Department request is 111 days on a simple request — the longest of any federal agency the department's report analyzed. Requests classified as complex by the State …read more

Source: Trump Furious As Obama Administration Blocks Release Of Hillary-TPP Emails Until After Election

    

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By Tyler Durden

While Facebook’s stratospheric ascent to new record highs continues, storm clouds may be gathering for the $340 billion market cap company: according to a new study by marketing intelligence firm Across the board, people are spending less time on their Social Media apps. Using SimilarWeb data on Android apps, the company looked at data from the U.S, UK, Germany, Spain, Australia, India, South Africa, Brazil and Spain and compared app data from Q1 2015 to Q1 2016, and found that in almost all countries, time spent on the 4 leading Social Media apps is down. On Facebook, Snapchat, Instagram, and Twitter, Android users seem to be cutting down on their Social Media app usage time.

According to the study, in very few cases, such as Facebook’s usage in Spain did time spent within an app rise. In some cases, the drop was minimal, with Snapchat usage in Brazil dropping from 11.23 minutes to 11.10 minutes. However, in other cases, the drop was more substantial, such as time spent on Twitter in France. Over Q1 2015, the average in France was 19.80 minutes and in Q1 2016, that number dropped to 13.12, a drop of 34%.

Facebook’s Instagram saw the biggest year-over-year drop: usage was down 23.7% this year, closely followed by Twitter (down 23.4%), Snapchat (down 15.7%), and Facebook, while down the least, still saw a notable 8% decline in usage. In the U.S., where social media continue to rake in the highest CPMs and where revenue remains highest, Instagram use was also down the most, or 36.2%, Twitter was down 27.9%, Snapchat was down 19.2% and Facebook fell 6.7%.

Still, despite this drop, Facebook users in the U.S. continued to spend the most time using the app: 45 minutes and 29 seconds every day on average. On the other end, Facebook users in India used the app the least, spending on average 22 minutes and 59 seconds daily.

The results are shown below.

As CNBC adds, across all four apps, users spent the least time using Twitter. Spanish users spent the most time using the app (13 minutes and 31 seconds daily), closely followed by Americans (13 minutes and 30 seconds) and the French (13 minutes and 7 seconds). This was despite overall declines in usage across these geographies.

Aside from time spent on Social Media apps, Current Installs were also mostly down when comparing March 2015 to March 2016. On all 4 social apps in the 9 countries examined, installs were down an average of 9%. This drop in installs was most prominent with Snapchat users in South Africa, where installs dropped 56% from March to March.

The highest increase on installs was also for Snapchat, this time in Brazil. Installs on snapchat rose 22% from March to March. Snapchat installs also increased in Germany, Spain, and India, with India showing a growth of 18%. Instagram also saw a rise in installs in several countries …read more

Source: Peak Facebook? New Study Finds Social Media App Usage Tumbles Across The Globe

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By EconMatters

By EconMatters

Bloomberg`s interview with GE Power`s CEO discusses the importance of Natural Gas in the Power Generation Market which happens to correspond nicely with a recent breakout in the Futures Market for NG.

© EconMatters All Rights Reserved | Facebook | Twitter | YouTube | Email Digest | Kindle

…read more

Source: The Natural Gas Market has Broken Out (Video)

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Here’s who tech workers — from engineers to Uber drivers — are putting their money in the 2016 election, according to Crowdpac data.

…read more

Source: Just 52 tech workers donated to Trump’s campaign

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CNN’s Ashleigh Banfield dedicated most of her program on Monday to a powerful, emotional letter from a rape victim. …read more

Source: Why Ashleigh Banfield read rape victim’s letter on CNN

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By Tyler Durden

For those who have been forced to trade the market, or provide trading recommendations, the past few months have not been kind: we have seen several instances in recent weeks where a trader lost it, where a strategist – one as prominent as SocGen’s Albert Edwards – blew up and admitted “I’m Not Really Sure How Much More Of This I Can Take“, and even a central banker went off the rails saying he and his peers are “magic people.”

Today it is the turn of one of the more prominent (and bearish) sellside high yield analysts, BofA’s Michael Contopoulos, to join the bandwagon of those driven to near insanity by the Fed, something he himself admits in a note titled “cycle not acting its age as central banks create fantasy-land.”

The HY analyst says that while his bearish stance has gotten less pronounced in the last week as “Q1 earnings data was better than it had been in 6 quarters,” he adds that his “bearish stance most definitely still remains both on valuations and our disposition about the trajectory of corporate and economic data. Long term we continue to find it very difficult to see a path for high yield corporates to grow into their balance sheets.”

That’s the fundamentals and they scream sell. On the other hand, Contopoulos adds that fundamentals do not matter when faced with activist central banks who are intent on inflating the biggest debt bubble ever, one which even Goldman warned over the weekend would lead to as much as $2.4 trillion in MTM losses if rates rise by just 100 bps: “at the same time, we fully recognize and appreciate that low global yields and the need to stay invested creates a positive technical that is difficult to fight against.”

However, it is return to the fundamentals, this precipitated his reaction: “But fight we do. Days like last Friday admittedly challenge our conviction, though. Oil down nearly 1%, and a payroll report that suggests our fears of a tightening labor market coupled with poor productivity, slowly rising wages and lackluster corporate earnings will lead to job losses later this year or early next year seem more than justified; and yet yields on our US HY index fell 3bps.”

What is provoking the most confusion?

What Perhaps the market has for now decided to overlook the following alarming statistic- during the heat of the early year selloff there were 21 important indicators. Of those 21 indicators, 16 of them are the same or worse today (Table 1). Interestingly, 3 of the indicators that are better today are related to the manufacturing sector (Factory Orders, Durable Goods and ISM Manufacturing). Personal Spending is also modestly improved (though Personal Consumption is worse) and New Home Sales is modestly improved (Existing Home Sales is much worse). With manufacturing still struggling, despite slightly better data, and a weaker consumer, we would argue that the macro landscape is as bad or worse than when investors were forecasting imminent …read more

Source: BofA Credit Analyst Loses It: "Central Banks Created A Fantasy Land"

    

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