Monday, December 5, 2016

"Fake News" Site Threatens Washington Post With Defamation Suit, Demands Retraction




As the "fake news" narrative grows, and The House quietly passes a bill to "counter Russian propoganda" websites, one alleged 'fake' news wesbite - as defined by the farcical PropOrNot organization - has struck back. Naked Capitalism's Yves Smith has threatened The Washington Post with a defamation suit and demanded a retraction.

FAKE NEWS = FAKE MARKETS …

by Bill Holter, JS Mineset, via SGT Report.com:
Growing up in the 1960’s, I can still remember hearing and reading about Russian propaganda. While I am certain some of what the Western press reported was “spun”, even a 10 year old could see through much of what Russia was trying to portray to its people.
Fast forward to present day, we seem to have switched places. The current mainstream media reports defy nearly any and all logic on a daily basis. Reporting has obviously been very poor for many years and it really did not matter what the subject was. Economics, finance, geopolitics, home grown politics, it has not mattered, logic has been turned on its head. I could go through example after example but would now require a book …or more likely a “series” of books. Using just one example to illustrate the lunacy, the U.S. now has 95 million OUT OF THE WORKFORCE and thus no longer counted as “unemployed”! Where is the logic here? Mainstream media reports it (under their breath) while cheerleading the lowest unemployment rate in decades. The White House and Wall Street both report “strong” employment with glee. The fact remains, our true unemployment number as calculated back in the day of “Russian propaganda” is somewhere around 20%.
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A 'Disintegrative Winter': The Debt And Anti-Status Quo Super-Cycle Has Turned

How would you describe the social mood of the nation and world? Would anti-Establishment, anti-status quo, and anti-globalization be a good start? These are all characteristics of the long-wave social-economic cycle that is entering the disintegrative (winter) phase.

20 Years Later, Greenspan's "Irrational Exuberance" Has Become Even More Irrational

December 5, 1996:  “Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.  But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions?"

Renzi Delays Resignation Until Senate Passes Budget Law

Matteo Renzi met with Italian president Sergio Mattarella to discuss the terms of his resignation. According to Ansa, Renzi's departure may not be as clear cut as some had expected, and as Ansa reports, Renzi may delay his resignation following a request by the president to hold the post until the Senate Budget Law is passed,

Germany Outraged After Afghan Refugee Arrested In Rape, Murder Of 19 Year Old Female Student

After several relatively uneventful months passed in Germany without a major incident involving migrants or refugees, the local migrant debate was reignited today after German Police arrested a 17-year-old Afghan teenage refugee in a high profile sexual assault and murder case that had kept the residents of Freiburg, Germany in suspense for months.

Here Are The Biggest "Post-Trump" Market Risks According To Bank of America

  1. EM, China and Europe remain risks to central scenario
  2. ECB to extend QE, removing Euro area risks to reflation sentiment
  3. OPEC decision and breakevens suggest EM could become a reflation trade
  4. RMB devaluations in response to protectionism

And The Market Breaks (Again)

For the second time today, the most liquid, transparent, efficient stock market in the world... has broken.

Forget Italy, Turkey Is The Main Course

While investors are focused on Italy, Bloomberg's Mark Cudmore warns that another Mediterranean country is poised to grab their attention very soon. A currency crisis in Turkey is rapidly deteriorating, setting the stage for dramatic and unscheduled central bank action.

Trump Advisor Says Administration Not Looking To "Rip Up NAFTA" Or Impose "Quote-Unquote Tariffs"

"I don’t think anybody in the administration is looking for quote-unquote tariffs, but I think they are a cudgel if you will to lay out there if we can’t get the trade deals to be right-sided to now benefit the American people.”

Wall Street Analysts Are Slowly Losing It

"I can’t justify any of this. The lesson investors are getting is that everything is a buying opportunity and you need to not miss the boat. Brexit? Bullish. Trump winning the election? Bullish. Italy saying no to the referendum and the Prime Minister handing in his resignation? Bullish. Heck, all we need is the entire Belgian banking system to go kablooey and the S&P 500 will be at 3,000 by Christmas Eve."

Deutsche Bank CEO Warns Employees "Europe Is Endangered" After Italy Vote

"The environment remains uncertain with a number of potentially frosty developments. The result of the constitutional referendum in Italy is a harbinger of renewed turbulence that could spill over from the political arena to the economy – with Europe particularly endangered."

WACC Is Back: Getting Ready To Live In An Era Of Rising Rates

The Weighted Average Cost Of Capital - When it goes up, prices go down. It's going up...

What Happens Next In Italy: Here Is Goldman's Take

While the market overcame its initial scare following yesterday's counter-establishment Italian referendum vote, and European stocks proceeded soar in the overnight session by the most since Trump's presidential victory, what happens next in Italy is largely unknown. What follows are Goldman's snap thoughts on the Italian next steps.

OPEC Oil Production Hits New All Time High As Brent Surges To 16 Month High

The greatest trick OPEC ever pulled was convincing the world to buy oil even as production kept rising to new all time highs.

Donald Trump Explains Why He Tweets So Much



"The Curve Is Screaming Producer Hedging" - Shale Companies Scramble To Lock In Oil Prices

Right after OPEC, U.S. producers were very active hedging," said Ben Freeman, founder of HudsonField LLC, a boutique oil merchant with offices in New York and Houston. "We are going to see a significant amount of producer hedging at this levels."

Fed Labor Market Conditions Index Contracts For 5th Straight Month

Despite a small rise MoM, The Fed's own Labor Market Conditions Index has now deteriorated year-over-year for 5 straight months, despite significant upward revisions over the last 6 months, most notably in September and October. As Deutsche's Jo Lavorgan notes,"the upshot is that the economic outlook remains fragile despite the ostensible robustness of the labor market."

Gold Double-Slammed As 'Traders' Puke $3.5 Billion Notional Through Futures Markets

The Italian referendum's "no" vote sparked the rational reach for safe-havens as the Euro-endgame became more questionable... but that lasted less than an hour and since the $1190 highs overnight, gold has been monkeyhammered to 10-month lows amid two legs lower (EU open and US open) with spikes in volume of around $3.5 billion notional...

Inauguration Day Is Still A Long Way Off

"Never underestimate a Marxist with a billion dollars and an army of oligarchs to lean on, and January 20 is a long way off."

"Things Have Tapered Off" - US Services Economy Jumps To 13-Month Highs But New Orders Stall

After spiking to 2016 highs in September/October, the US Services economy slipped lower in November according to Markit with signs of margin squeezes appearing as input cost inflation hits a 15-month high, but prices charged remained flat, and payrolls growth remains weak (well below average). However, ISM reported a big beat, with Services at the highest since Oct 2015 (despite a drop in new orders).

Facebook’s Zuckerberg Goes into Financial Decline After Threatening to Censor ‘Fake News’

by Shepard Ambellas, Intellihub:
Facebook market shares decline over past weeks
The world’s fifth-richest person, Facebook’s Mark Zuckerberg, worth an estimated $49B, has seen a sharp decline in corporate finances over the past 27 days, after announcing that he may censor whatever he deems to be ‘fake news’ from his massive social media platform.
Zuckerberg has lost $3.7B since Nov. 8, which amounts to about a “7% decline in Facebook’s share price,” according to Forbes.
This comes after an assistant college professor by the name of Milissa Zimdars and the mainstream media attacked Intellihub.com, Infowars.com and Breitbart.com by labeling the trio of sucessful independent websites ‘fake news,’ despite the fact the mainstream media has lost almost all of its credibility amongst the general public.
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Obama’s Legacy: A Failing Healthcare System

by Paul A. Philips, Activist Post:
When Obama leaves the oval office in January and hands over the US presidency to Trump he will leave behind a troubling legacy. In a number of different ways he has betrayed those he was supposed to serve, the American people. Whether it has been through his involvement in healthcare or running up a serious national debt to the tune of over 20 trillion dollars, or the climate change scam, rising mass poverty and unemployment, homelessness, etc., he will affect many Americans for generations to come.
Taking the case of health as an example, he will leave behind the consequences of his involvement in a seriously failing healthcare system that has done far more harm than good. Some have argued, quite justifiably, that Obama’s involvement in the US healthcare (sick care) system has been deliberately set up to fail due to a number of reasons, which will be explained.
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Prepper Rules-Of-Three

by Ken Jorgustin, Modern Survival Blog:
Preparing and Survival for the most part may be broken down into “Time-Lines”. These concepts have been written about in many articles and seemingly are explained very simply.
My attempt here is to expand on those concepts and to add a few more “Time-Lines” to think about.
1. 3 Nano-Seconds to think
2. 3 Seconds to react
3. 3 Minutes without Air
4. 3 Hours without Shelter
5. 3 Days without Water
6. 3 Weeks without Food
7. 3 Years without Rebuilding
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Victory At Standing Rock: Dakota Access Pipeline Permit Denied

from The Anti Media:
In a long-awaited victory for the Stan
ding Rock Sioux Tribe, the U.S. Army Corps of Engineers has denied a permit for the Dakota Access Pipeline, tribal leadership announced late Sunday.
The agency will not allow the pipeline to be built under Lake Oahe, a reservoir near the tribal reservation, without a full environmental impact assessment that examines alternative routes for the pipeline.
While acknowledging that it may only end up being a temporary pause in pipeline construction, many see it as an incredible victory for the water protectors, who have faced water cannons, mace, rubber bullets, mass arrests, and more in their months-long struggle to protect their drinking water and treaty land.
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Pearl Harbor Facts and Proof

by Carl Herman, Washington’s Blog:
Stinnett conclusively demonstrates with vast and incontrovertible documentary evidence that in order to precipitate an unwilling American public into supporting intervention in the Second World War, President Roosevelt oversaw the contrivance and deployment of a closely-guarded secret plot to goad the Japanese into attacking Pearl Harbor. The plan was set in motion in October 1940, and its development closely monitored through decoded intercepts of Japanese diplomatic and military radio communications. Knowledge of the plan was limited to 13 Roosevelt administration members and chief military officers, and 21 members of Naval Intelligence and related operations. Once it produced the intended result and the attack impended, the Pacific fleet’s modern naval vessels were sent to sea from Pearl Harbor, leaving seven antiquated World War One battleships as decoys. Meanwhile, the Japanese fleet was tracked with radio intercepts from its formation off the Kuril Islands on November 16, and its sailing for Hawaii on November 26; its course was cleared of all shipping with a Vacant Sea order on the 22nd; and Pearl Harbor naval patrols were ordered out of the area on the 25th. Intelligence of the impending attack was withheld from the officers (Admiral Kimmel and General Short) charged with defending Pearl Harbor, who were kept uninformed of the plan and intelligence of the impending attack, and scape-goated afterward.
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Global Financial Markets Plunged Into Chaos As Italy Overwhelmingly Votes ‘No’

by Michael Snyder, The Economic Collapse Blog:
Italian voters have embraced the global trend of rejecting the established world order, but the “no” vote on Sunday has plunged global financial markets into a state of utter chaos. The euro has already fallen to a 20 month low, Italian government bonds are poised for a tremendous crash, and futures markets are indicating that both U.S. and European stock markets will be way down when they open on Monday. It is being projected that Italian Prime Minister Matteo Renzi’s referendum on constitutional reforms will be defeated by about 20 percentage points when all the votes have been counted, and Renzi has already announced that he plans to resign as a result. When new elections are held it looks like comedian Beppe Grillo’s Five-Star movement will come to power, and the European establishment is extremely alarmed at that prospect because Grillo wants to take Italy out of the eurozone. In the long run Italy would be much better off without the euro, but in the short-term the only thing propping up Italy’s failing banking system is support from Europe. Without that support, the 8th largest economy on the entire planet would already be in the midst of an unprecedented financial crisis.
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A Major Banking Collapse Looks Imminent

by Nick Giambruno, International Man:
This surprises almost everyone… You don’t own the money in your bank account.
Once you deposit money at the bank, it’s no longer your property. It’s the bank’s.
What you own is a promise from the bank to repay you. It’s an unsecured liability. Technically, you’re a creditor of the bank. And that means a bank bail-in would probably burn you.
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Trump: Trojan, Traitor, or Tried and True?

by David Haggith, The Great Recession Blog:
I risked losing my fellow anti-establishment readers with the suggestion that Trump may be an establishment Trojan horse. After seeing Trump choose Pence as VP and a Goldman Sachs exec as campaign finance manager, I was concerned the establishment knew a citizen’s revolt was brewing and made sure that even the road to revolt led back to Rome. Now that we are seeing Trump make actual decisions, we can test that hypothesis.
Trump’s INSTANT reversal on major campaign promises
Trump has not simply backed off on some of his campaign promises, but has backed away from the promises that seemed to fire up his supporters the most. That he scaled the wall across the Mexican border down to a wall in some places and mere fences in others is, frankly, less significant than the main-stream media is playing it to be. If the border patrol thinks a fence will do as well as a wall in some places, why spend more money on a wall? Scaling down the wall could just be Trump, the pragmatist, applying common sense as he listens to the border patrol about their needs and seeks the most cost-effective solution. Trump is a pragmatist.
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