Ohio Pension System Slashes Health-Care Benefits To Stave Off Insolvency Pension-fund managers from across the US stopped to take note of an unsettling development in their industry, and perhaps thought to themselves: ‘There but for the grace of God go I’. For the first time in years, a major public pension system has slashed benefits […]
Dow Dumps Into Red – Gives Up Overnight Trade/Virus Hope Gains Well that didn’t last long… From record high to red in minutes. S&P and Nasdaq are holding their gains for now… Tyler Durden Thu, 02/06/2020 – 09:49 Tags Law Crime Sports Hospitality Recreation
“We Are Entering The Period Of Global Uncertainty…” Authored by Gregory Copley via OilPrice.com, The year 2020 could emerge as the start of the era of relative global chaos or major upheaval. It is the era we have been anticipating, as the impact of core population decline meets economic dislocation, and security and structural uncertainty. […]
“We’d Rather Die At Home” – Chinese Citizens Rebel Against Mandatory Quarantine As Lockdown Expands Thousands of athletes around the world breathed a sigh of relief on Thursday when Japanese Prime Minister Shinzo Abe confirmed that the Summer Olympics in Tokyo won’t be delayed. Then again, if the outbreak continues to worsen in Japan and […]
A State Of Denial Authored by Sven Henrich via NorthmanTrader.com, Once again investors are made to believe that nothing matters. Only 2 trading days after Friday’s sell off $NDX made new all time history highs. Only 3 days after Friday’s sell-off $SPX made a new all time closing high. Only 4 days after Friday’s sell […]
Tesla Shares Plunge Again As Company Says It Will Shutter China Stores Due To Coronavirus Following yesterday’s record 17% drop, Tesla shares are down again in pre-market trading on Thursday after the company announced it is temporarily closing stores in mainland China as of February 2. Tesla shares dropped another 5% in early trading Thursday […]
Another Massively Oversubscribed Term Repo Confirms Persisting Liquidity Woes Two days after dealers unexpectedly flooded the first reduced term-repo (from $35BN previously to $30BN) offered by the Fed, the liquidity shortage in the repo market – which was supposed to be temporary and few if any strategists said would continue beyond year-end – persists, and […]
2019 US Productivity Rises Most In A Decade, Real Wages Jump Most Since 2015 After disappointingly contracting by 0.2% in Q3 2019, US Productivity was expected to expand by 1.6% QoQ in Q4, but while it did bounce back, the preliminary US productivity rose only 1.4% QoQ. This enabled a 1.8% YoY gain in productivity […]
“What Were We Thinking?” Authored by Charles Hugh Smith via OfTwoMinds blog, Will we wonder, what were we thinking? and marvel anew at the madness of crowds? When we look back on this moment from the vantage of history, what will we think? Will we think how obvious it was that the coronavirus deaths in China were in […]
OPEC+ Committee Fails To Agree On Proposed Production Cuts Oil futures remain in a bear market following the collapse in oil demand from China amid two-thirds of its economy shutdown following the coronavirus outbreak. This forced the OPEC+ technical committee to meet in Vienna, Austria, for a third day this week, to discuss the importance of […]
Futures Hit All Time High On Trade, Virus Optimism And just like that, US equity futures hit an all time high of 3,357.75 overnight on a combination of trade and virus optimism. Contracts on all main US equity indexes pointed to record highs and a fourth day of gains after China said it will lower levies on […]
China To Slash Tariffs On Some U.S. Imports By 50% While global equity futures continue to soar amid a return of the “coronavirus is contained” following reports that new drugs are in the pipeline to treat the deadly disease on Wednesday, China’s economy is expected to print sub-5% GDP in Q1. This has forced an increasingly desperate Beijing to unexpectedly […]
Rounding Errors Found In 30% Of Iowa Caucus Worksheets, Could Flip “Significant Number Of Delegates” After an app created by a Democratic digital firm botched the Iowa caucus results, the 1,678 precincts across the state resorted to awarding delegates using a “Caucus Math Worksheet,” causing significant delays in reporting. The worksheet requires caucus workers perform […]
A New Space Race? US, China, Russia, & Europe All Plan For Moon Bases Authored by Aaron Kesel via TheMindUnleashed.com, One year ago in January, a Chinese robot landed on the dark side of the moon. Since then, the Chang’e 4 probe and the Yutu-2 rover it carried onboard have been busy photographing and scanning […]
Trump Admin “Threatened Me” After Rejecting Peace Plan: Erdogan We noted that immediately after President Trump and Israeli Prime Minister Netanyahu’s roll out of the ‘deal of the century’ Mideast peace plan on January 28, Turkey was the first country to condemn it internationally, and just days ago Erdogan’s director of communications, Fahrettin Altun, called it “a declaration […]
French Teenager Forces Free Speech Debate Over Her Calling Islam A “Religion Of Hate” Authored by Jonathan Turley, We have previously discussed the alarming rollback on free speech rights in the West, particularly in France (here and here and here and here and here and here and here). A teenager has sparked a national debate about blasphemy in France after an Instagram post calling Islam a “religion of […]
A Quarter Of Brits Get Annoyed By A Foreign Conversation YouGov has released a somewhat disturbing poll highlighting levels of xenophobia and intolerance in post-Brexit Britain. The survey involved 1,461 adults and, as Statista’s Niall McCarthy notes, it found that more than a quarter of them would be very or fairly bothered by hearing people from a non-English […]
Building An EU-UK Special Relationship Authored by Daniel Gros via Project Syndicate, The European Union has lost one of its most important member states. The United Kingdom accounted for around one-sixth of the EU’s population and economy. Without it, the EU will still be one of the world’s premier economic powers, but it will suffer […]
Can Muslim Terrorists Be Deradicalized? – Part I Authored by Denis McEoin via The Gatestone Institute, On Friday November 29, 2019, an Islamist terror attack took place in London. Two young people, both recent Cambridge University graduates, Jack Merritt (25) and Saskia Jones (23), were stabbed and killed by a single attacker. It was a terrible and unnecessary loss […]
Just A Little Sloppy Record-Keeping? The Pentagon’s $35 Trillion ‘Accounting Black Hole’ Over the past two weeks of coronavirus headlines and heightened global anxiety, along with impeachment coverage and after over the Super Bowl weekend Americans huddled in living rooms in blissful oblivion, a story which in more normal times would be front and center has […]
The Pornification Of America: How Young Girls Are Being Groomed By Sexual Predators Authored by John Whitehead via The Rutherford Institute, “The brutal reality is that a predator doesn’t have to be in the same room, building, or even country to abuse a child. And that’s what they’re doing – subjecting children to psychological and […]
States That Tax The Most Are Getting The Worst Results Per Dollar Today in “more definitive proof that the government can’t spend your capital as well as you can” news, it should come as no surprise that states who spend less in taxes are getting better results, per dollar, than similarly sized states who collect […]
Matt Gaetz Files Ethics Complaint, Criminal Referral Request Against Nancy Pelosi For Tearing Up SOTU Speech Rep. Matt Gaetz (R-FL) has written a letter to the House Ethics Committee requesting an investigation into Speaker Nancy Pelosi’s decision to tear up a copy of President Trump’s State of the Union address, arguing that “Her unseemly behavior […]
Mysterious Money Transfers Uncovered Between Jeffrey Epstein’s Estate And Secretive Bank Estate records reveal that millions of dollars were transferred from the estate of the late pedophile Jeffrey Epstein and a secretive bank he established in the Virgin Islands six years ago, according to the New York Times. The bank, Southern Country International, was one […]
When China’s Supply Chains Break, So Will The Delusion The US Economy Is Invulnerable Authored by Charles Hugh Smith via OfTwoMinds blog, Was it ever plausible that China’s economy could grind to a halt and there wouldn’t be any consequences for the U.S. economy? No. Many commentators talk about supply chains in China, but how […]
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