Russian President Vladimir Putin says ‘Brexit’ is the choice made by the British nation and is a comprehensible one, as “no one wants to feed weak economies.” Russia has not and does not plan to interfere with the results of the referendum, he added.
“I think it’s comprehensible why this happened: first, no one wants to feed and subsidize poorer economies, to support other states, support entire nations,” the Russian president said at the Shanghai Cooperation Organization summit in Tashkent.“Apparently the British people are not satisfied with the way problems are being solved in the security sphere, these problems have become more acute lately with the migration processes,” Putin said, suggesting the second reason for the British people to have voted ‘out.’
The Russian president’s comments come in reply to UK Prime Minister David Cameron’s claims that “Putin would be happy if the UK left the EU.”
The president says such claims were an ill-posed attempt to influence the general opinion of the British public. Continue reading »
Even as the world’s biggest fast food chain moves its headquarters to a $250 million 608,000-square-foot complex in Chicago’s West Side in the spring of 2018, McDonald’s intends to close about 500 weaker-performing, company-operated locations worldwide in 2016 to bolster profits.McDonald’s spokeswoman Becca Hary confirmed the announcement, released just days after it withdrew its branches from Middle Eastern and three Latin American countries, in an email to The Street:
“It’s important to note that while we will have a net reduction in restaurants [in the US], the impact is minimal in comparison to the 14,000 restaurants we operate across the US. We consistently review our restaurant portfolio and make strategic decisions to better position our business for the future.”Continue reading »
MORE EU turmoil is looming as Sweden’s prime minister has called for an emergency meeting after Britain’s vote to leave Brussels has weakened the country’s position in Europe.
Britain has been Sweden’s strongest ally in the EU but after the Leave camp’s success was revealed this morning the Scandinavian country now faces political and economical turmoil.
Prime Minister Stefan Lofven said the government’s faith in Brussels remained strong, despite Sweden’s EU minister issuing dire warnings about the harm a Brexit could cause to the country’s economical and political status.
Within hours, the media in Britain was awash with the finger-wagging, head-shaking and tut-tutting of talking heads who are apparently queuing up to make known their disgust at the errant behaviour of the “ignorant masses” in polling stations across the UK.
EU chiefs want to be rid of Britain as soon as possible, if a statement from the European Council released in the wake of the UK’s shock Brexit is anything to go by.
It was released following a meeting of dignitaries including EU president Donald Tusk, parliamentary president Martin Schulz, Dutch PM Mark Rutte and European Commission president Jean-Claude Juncker.
The EU’s top dogs told the UK to get out of the 28-member union quickly. They delivered a stark warning that until such a time as the political divorce goes through, Britain will be subject to all the treaties and agreements that go with membership. Continue reading »
When less stuff is being bought, sold and shipped around the country with each passing month, how in the world can the U.S. economy be in “good shape”? Unlike official government statistics which are often based largely on projections, assumptions and numbers seemingly made up out of thin air, the Cass Freight index is based on real transactions conducted by real shipping companies. And what the Cass Freight Index is telling us about the state of the U.S. economy in 2016 lines up perfectly with all of the other statistics that are clearly indicating that we have now shifted into recession mode.
The prospect of being outside of the European Union is too much for some of the 16 million UK residents who wanted their country to ‘remain’. They have set up a parliamentary petition calling for a second referendum, which crashed due to its popularity.
Despite being set up hours after the result, the petition has already reached its goal of over 100,000 signatures. This means that it must be considered for debate within parliament within a year.
Authorities in the Austrian town of Mistelbach issued a temporary pool ban for refugees following a sexual assault by a “dark-skinned’ man on a 13-year-old girl.
“This news was a shock,” said the town’s mayor, Alfred Pohl, as quoted by the Heute media outlet.
According to Austrian newspaper Kronen Zeitung, the attack happened on Wednesday afternoon.
The girl was first followed by a young man into the women’s changing room. Once there, he forced her to perform oral sex. The girl however fiercely resisted and started shouting, forcing the attacker to flee. Continue reading »
Early this morning we laid out the thoughts of RCB’s Charlie McElligott on today’s dramatic market action, which discussed not the blow up of “fat tail” quant stategies (something we touched upon later and which is likely to unleash even more quant-driven selling next week) and the “forced out” liquidations across the curve coupled with a rush into safety, but also the biggest question of all for today’s trades – which macro funds are quietly blowing up? Now, we follow it up with a second piece by the RBC trader, one which those worried about being caught long risk over the weekend, are urged to read. Continue reading »
During a CNBC inteview today, when discussing the historic Brexit vote outcome, Alan Greenspan unleashed a fiery sermon that could have been prepared just by reading a random selection of posts from this website, the former Fed chairman told his shocked hosts that the current period, far from the raging “Obama recovery” spun every day by adaministration propaganda appratchicks and one that prompted the Fed to unleash a ridiculous rate hike cycle in December just as the US is sliding into a recession, and is instead the “worst period” he has seen, surpassing even the infamous Black Monday in severity.
“This is the worst period, I recall since I’ve been in public service. There’s nothing like it, including the crisis — remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away. I’d love to find something positive to say.”
EXCLUSIVE » Fmr. Fed Chair Greenspan to CNBC: “This is the worst period I recall since I’ve been in public service.” pic.twitter.com/mu0p471fAm
For European banks, today is worse than Lehman with a 13%-plus collapse in the broad index. The major banks – like Credit Suisse and Deutsche Bank – have crashed over 15% to record lows as “Lehman moments” loom. This crisis prompted massive demand for USDollars, sending basis swaps (and other funding vehicles) spiking which it appears is why The Fed said it was ready to provide liquidity.
My political opinions lean more and more to Anarchy (philosophically understood, meaning abolition of control not whiskered men with bombs) … the most improper job of any man, even saints (who at any rate were at least unwilling to take it on), is bossing other men. Not one in a million is fit for it, and least of all those who seek the opportunity.
– J. R. R. Tolkien
What transpired last night in the United Kingdom represented one of the most extraordinary expressions of democracy in my lifetime. When faced with an event of such monumental significance, it’s difficult to pick any particular direction for a post like this. I have so many thoughts running through my mind and so many angles I could potentially address, it’s simply impossible to do them all justice. As such, I’ve decided to focus on one very meaningful implication of Brexit: death of the technocrats. Continue reading »
When we reported that California tax revenues had missed projections by nearly $1 billion in the first four months of the year, we pointed out that one key driver was that over 250,000 residents left the state between 2013-2014 alone, taking that tax base with them.
It turns out that it’s going to get worse before it gets better for California, because as Mercury News reports, state Finance Department statistics show that 61,000 more people have exited California than have moved to the state during a twelve month period ending June 30. The net outward migration was the largest since a net 63,000 people left the state in 2011. “The main factors are housing costs in may parts of the state, including coastal regions of California such as the Bay Area. California has seen negative outward migration to other states for 22 of the last 25 years.” Dan Hamilton, director of economics with the Economic Forecasting Center at California Lutheran University in Thousand Oaks. Continue reading »
Well, they did it. A majority of Britons made clear they’re so fed up with David Cameron and everything he says or does, including promoting the EU, that they voted against that EU. They detest Cameron much more than they like Nigel Farage or Boris Johnson. It seems that everyone has underestimated that.
Cameron just announced he’s stepping down. And that points to a very large hole in the ground somewhere in London town. Because going through a list of potential leaders, you get the strong impression there are none left. Not to run the country, and not to negotiate anything with Brussels. Which has a deep leadership -credibility- hole of itself, even though the incumbents are completely blind to that. Continue reading »
In a dangerously flawed decision unsealed today, a federal district court in Virginia ruled that a criminal defendant has no “reasonable expectation of privacy” in his personal computer, located inside his home. According to the court, the federal government does not need a warrant to hack into an individual’s computer.
This decision is the latest in, and perhaps the culmination of, a series of troubling decisions in prosecutions stemming from the FBI’s investigation of Playpen—a Tor hidden services site hosting child pornography. The FBI seized the server hosting the site in 2014, but continued to operate the site and serve malware to thousands of visitors that logged into the site. The malware located certain identifying information (e.g., MAC address, operating system, the computer’s “Host name”; etc) on the attacked computer and sent that information back to the FBI. There are hundreds of prosecutions, pending across the country, stemming from this investigation. Continue reading »
In the back kitchen of Mountain View’s newest pizzeria, Marta works tirelessly, spreading marinara sauce on uncooked pies. She doesn’t complain, takes no breaks, and has never needed a sick day. She works for free.
Marta is one of two robots working at Zume Pizza, a secretive food delivery startup trying to make a more profitable pizza through machines. It’s also created special delivery trucks that will finish cooking pizzas during the journey to hungry customers if approved by the Santa Clara County Department of Environmental Health. Right now Zume is only feeding people in Mountain View, California, but it has ambitions to dominate the $9.7 billion pizza delivery industry. Continue reading »
The SEC announced on Thursday that Bank of America’s Merrill Lynch unit admitted wrongdoing and has agreed to pay $415 million to settle charges that it “misused customer cash to generate profits for the firm.”
According to the statement, Merrill violated the SEC’s Consumer Protection Rule by misusing customer cash that rightfully should have been deposited in a reserve account, freeing up billions to finance its own trading activities as a result. Continue reading »
Blueberries are just one of the “superfoods” nature has blessed us with. There are so many wonderful qualities and health benefits to eating more blueberries that they are almost too numerous to count.
Besides being packed with vitamin C and antioxidants, research shows that blueberries are excellent stress relievers and can add significantly to brain health. Continue reading »
There are many ways corporations modify food products with chemicals in order to increase sales. They use toxic chemicals to extend shelf life, make food look more attractive, kill bugs in the fields, stave off mold and mildew, kill fungus and bacteria, add flavor back in after chemicals kill the taste, and actually make people depressed and anxious to fuel the chemical medicine industry. Most of it’s nothing new, and has been going on since WWII. GMOs have been in existence for 30 years now, though few people are aware of that.
The cumulative effect of poisons in the body is something you can’t sue one food manufacturer for, or one doctor, or one chemical company. The corporate food industry in America is sinister and insidious. They know they can’t be held accountable for long-term chronic sicknesses from which so many Americans suffer. The FDA could care less about Americans’ health and well-being. Continue reading »
It’s not unusual to hear about herbicides having suspected toxic effects or prescription drugs producing side effects. But a new National Institutes of Health (NIH) funded study just published in the Journal of Medicinal Chemistry has found another negative and surprising way common herbicides and fibrate drugs (which are used to lower elevated blood lipids) impact the human body: they block a nutrient-sensing taste receptor on the tongue called T1R3.
So what’s the big deal about this? It turns out there’s emerging evidence these taste receptors are also found in hormone-producing cells in the intestine and pancreas. When working properly, these internal taste receptors in the gut trigger the release of hormones involved in the regulation of normal homeostasis (the ability of the body to maintain internal physiological stability) of glucose as well as energy metabolism. Simply put, screwing up the ability of T1R3 to sense certain nutrients could possibly wreak havoc on the human body in a variety of ways — from playing a role in unhealthy blood sugar levels to causing people to gain weight .
“Compounds that either activate or block T1R3 receptors could have significant metabolic effects, potentially influencing diseases such as obesity, type II diabetes and metabolic syndrome,” said Monell geneticist and study leader Bedrich Mosinger, MD, PhD, in a statement to the media. Continue reading »
Well that escalated quickly…Speaking from in front of 10 Downing Street, UK PM David Cameron just stated that he will step down as Prime Minister, explaining that “I think the country requires fresh leadership.”