Prime minister confirms he is disputing specific claim in Call Me Dave book that he put private part of his anatomy in dead pig’s mouth
As we reported earlier this morning, at the “request” (whatever that means in the context of Russian politics) of Vladimir Putin, Russian lawmakers have approved airstrikes in Syria and unlike the rather deliberate pace of Washington’s efforts to rout ISIS, Moscow doesn’t appear to be wasting any time.
Update: it did not take long to find the possible bombing suspect:
Suspect is a local 33 year-old guy. http://t.co/wz94pSItvW So far 7 dead, 2 missing, 48 injured
— Fergus Ryan (@fryan) September 30, 2015
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Over the weekend when we reported that one of China’s largest coal miners had laid off 100,000, or 40% of its workforce, we noted that China’s hard-landing is starting to hit where it really hurts: employment, or rather the lack thereof, and the one logical consequence: “now, many migrant workers struggle to find their footing in a downshifting economy. As factories run out of money and construction projects turn idle across China, there has been a rise in the last thing Beijing wants to see: unrest.” Continue reading »
Following yesterday’s collapse in the Nikkei, when a 4% drop pushed it red for the year below 17,000, down 20% from a high of 21,000 hit just over a month ago, we had just one question for Japan’s pension fund “fudiciaries” who have been “greatly rotating” out of bonds for the past few years as the primary sources for BOJ debt monetization, dumping trillions in fixed income yen, and promptly buying up equities: equities which have gone nowhere in 2015, and which have posted massive losses in the third quarter. The question was:
What are Japan’s pension fund losses after the Nikkei wipeout from 21k to 17K?
— zerohedge (@zerohedge) September 29, 2015
Less than 24 hours we got the answer, when moments ago Nikkei reported thatQ3 losses at (at least one) pension funds were just under JPY 10 trillion in the third quarter. Continue reading »
According to ADP, for the first time this decade, the US hasn’t created a single manufacturing job for the entire year. In fact, it has lost some 6,600 jobs. But don’t worry: we hear “economic recoveries” driven by hiring of minimum wage retailers, low-wage teachers, and of course, waiters and bartenders, are all the rage in this business cycle.
With Syria making national headlines on a daily basis, it’s easy to forget about the Middle East’s other proxy war raging in Yemen.
For months, a Saudi-led coalition has been battling Iran-backed militants for control of the country which was effectively wrested from Mansour Hadi earlier this year when the Sauid-backed President was forced to flee to Riyadh as the Houthis advanced on Aden. Continue reading »
During the “recovery” from the Great Recession, the land of Lincoln had more people enter the food-stamps program than start jobs. Food-stamps growth in Illinois has outpaced jobs creation by a 5-4 margin… and stunningly, has put 25 people on food stamps for every manufacturing job created during the recession recovery.
Since the start of June, global equity markets have lost over $13 trillion. World market capitalization has fallen back below $60 trillion for the first time since February 2014 as it appears the world’s central planners’ print-or-die policy to create wealth (and in some magical thinking – economic growth) has failed – and failed dramatically. To rub more salt in the wounds of monetray policy mumbo-jumbo, despite endless rate cuts and balance sheet expansion around the world, the last 4 months have seen an 18% collapse – the largest since Lehman.…
The Slovenian Ministry of Agriculture, Forestry and Food will now send an official request to ban the cultivation of eight GM varieties to the European Commission before the deadline of 3 October 2015.
Slovenian Agriculture Minister Dejan Zidan stated; “…the government adopted the decision for a request for the exclusion of the entire geographical territory of Slovenia for GM maize to the EU, including the already registered variety MON 810 and seven other varieties which are in the process of registration with the European Commission. This allows me to formally to send the request as the Ministry of Agriculture in accordance with the law for the exclusion of Slovenia with the regards to the cultivation of GM maize.” Continue reading »
Austrian Health Minister Sabine Oberhauser and a number of Italian Ministries have confirmed that both countries are officially requesting an opt-out from growing the eight varieties of GM maize permitted or set to be permitted at the EU level, thus there will now be a full ban on GM crops in both countries under new EU regulations.
“Austria has made use of the newly created EU opt-out rules for the authorization of genetically modified crops,” Oberhauser stated on Wednesday. She further added that Austria’s geographical opt-out demand was delivered to the European Commission earlier this week. Continue reading »
Nearly four months ago on June 2nd, something very unusual happened in Edmonton, Alberta, Canada.
The price of propane actually became negative, hitting an unbelievable -0.625 cents per gallon.
It’s hard to believe that the price of a productive commodity could become so beat down by the market that producers would practically have to pay you to take it off their hands.
Now that’s cheap. And completely nuts. Continue reading »
A senior US official said that Russian diplomats had sent an official demarche ordering US planes to quit Syria, adding that Russian fighter jets were now flying over Syrian territory. US military sources told Fox News that US planes would not comply with the Russian demand. “There is nothing to indicate that we are changing operations over Syria,” a senior defense official said.
That Russia launched its first air strikes in Syria Wednesday, Sept. 30 was confirmed by the Russian Defense Ministry in Moscow and criticized by US officials. Moscow stressed that it acted in support of Bashar Assad’s war on the Islamic State, assisted by other foreign powers including Iran and Iraq working together from an allied command center in Baghdad. Its targets were described as stores, ammunition dumps and vehicles, located according to US sources around Homs and Hama. The Russian communiqués did not indicate which organizations were bombed. Continue reading »
Dr. Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University.
Today is the 70th anniversary of the UN. It is not clear how much good the UN has done. Some UN Blue Hemet peacekeeping operations had limited success. But mainly Washington has used the UN for war, such as the Korean War and Washington’s Cold War against the Soviet Union. In our time Washington had UN tanks sent in against Bosnian Serbs during the period that Washington was dismantling Yugoslavia and Serbia and accusing Serbian leaders, who tried to defend the integrity of their country against Washington’s aggression, of “war crimes.”
The UN supported Washington’s sanctions against Iraq that resulted in the deaths of 500,000 Iraqi children. When asked about it, Clinton’s Secretary of State said, with typical American heartlessness, that the deaths of the children were worth it. Continue reading »
David Cameron has for the first time publicly denied allegations made in a biography written by the former Tory donor Lord Ashcroft that he was involved in a bizarre university club ritual with a dead pig’s head. Continue reading »
The United States government deliberately hid “the worst nuclear disaster in U.S. history,” according to experts and an in-depth investigation by NBC4 Southern California. Whistleblowers have also come forward to expose the little-known catastrophe, which occurred north of Los Angeles in 1959 and leaked over 300 times the allowable amount of radiation into surrounding neighborhoods. That contamination is now linked to up to a 60% increase in cancer in the area, but the government still refuses to acknowledge its colossal mistake.
The ongoing tragedy was driven by America’s darkest demons, from dogmatic militarism to aggressive corporatism, and ongoing government and corporate efforts to cover-up the disaster are nothing short of staggering. Continue reading »
“With advances in medical technology, prescription drugs and ways to treat injuries and illnesses, Americans are living healthier lives. [i.e., living longer] Because of these changes, we must adjust your premium to stay in line with increased costs.”
UPDATE: DARPA responded to a request from Fusion that “brain-neural interfaces” have not yet been implanted in soldiers, though test devices have been implanted in the brains of volunteers already undergoing brain surgery. We’ve changed the headline to reflect that implantation of chips in soldiers’ brains has not happened yet.
For decades, DARPA, the secretive research arm of the Department of Defense, has dreamed of turning soldiers into cyborgs. And now it’s finally happening. The agency has funded projects that involve implanting chips into soldiers’ brains that could one day enhance performance on the battlefield and repair traumatized brains once the fog of war has lifted.
“Of the 2.5 million Americans who served in Iraq and Afghanistan, 300,000 of them came home with traumatic brain injury,” journalist Annie Jacobsen told NPR. “DARPA initiated a series of programs to help cognitive functioning, to repair some of this damage. And those programs center around putting brain chips inside the tissue of the brain.” Continue reading »
Unlike previous gold probe cases, this one will have major consequences. How do we know? Because just like in LIBOR-gate, just like in FX-gate, it is the biggest rat of all, Swiss megabank UBS, that is about to turn on its former criminal peers. As Bloomberg reported earlier “UBS was granted conditional leniency in Swiss antitrust probe of possible manipulation of precious metal prices.” Why would UBS do this? The same reason UBS did so on at least on two prior occasions: the regulators have definitive proof it is involved, and gave it the option to turn evidence and to rat out its cartel peers, or face even more massive financial penalties. UBS, as usual, choice the former.
Update: And there it is: GLENCORE DEBT INSURANCE COSTS SURGE TO RECORD HIGH; 5-YR CREDIT DEFAULT SWAPS RISE 207BASIS POINTS FROM FRIDAY’S CLOSE TO 757 BASIS POINTS
Those who listened to our reco to buy Glencore CDS at 170 bps in March 2014 can take the rest of the year off. As of this moment, GLEN Credit Default Swap were pushing on 600 bps, 4 times wider, and on pace to take out the 2011 liquidity crunch highs. After that, it’s smooth sailing to all time wides and the start of a self-fulfilling prophecy which leads to the Companys’s IG downgrade and the collapse of trillions in derivative notionals as what may be the trading desk of the biggest commodity counterparty quietly goes out of business.
Glencore is in total free-fall across all markets today. Most worrying for systemic risk concerns is the rush into credit protection that has occurred, as counterparties attempt to hedge their exposures. Forthe first time since 2009, Glencore CDS are being quoted with upfront pricing (something that happens as firms become seriously distressed). Based on the latest data, it costs 875bps per year (or 14% upfront) to buy protection against a Glencore default (which implies – given standard recoveries – a 54% chance of default).
New York Governor Andrew Cuomo renewed his call for national gun control legislation on Saturday as he delivered a eulogy for the top state attorney who was fatally wounded by a stray bullet in Brooklyn earlier this month.
State officials and family members gathered at Brooklyn’s Emmanuel Baptist Church in a private service for Carey Gabay, 43, who was struck in the head at a pre-dawn outdoor celebration on Sept. 7 before the annual West Indian Day parade, an event plagued by violence in recent years. Continue reading »