Sunday, July 05, 2015

Forget 'Haircut', Instead Syriza Plans Beheading of Greek Bank Depositors, Theft of Deposits / Politics / Eurozone Debt Crisis

By: Nadeem_Walayat

Greeks voting YES or NO won't make any difference to what I see as a near certainty of the Greek banks NOT reopening Tuesday, and it is not just because the banks won't have the euro bank notes in their vaults, it's because they are ALL insolvent and have been so for the past 5 years where the only thing that had prevented a collapse of the Greek banking system was generous and I mean GENEROUS support from the Euro-zone's ECB central bank that has literally financed every withdrawal from the Greek banks for the past 5 years, right up until Syriza announced its baldrick-esk cunning plan for a Referendum. That's over Euro 120 billion Euro-zone tax payers funds paid into the Greek banks to finance ALL withdrawals that amounts to 50% of the original total Greek bank deposits.

Sunday, July 05, 2015

The Pentagon’s 2015 Strategy For Ruling the World Through Endless War / Politics / US Military

By: Mike_Whitney

On Wednesday, the Pentagon released its 2015 National Military Strategy, a 24-page blueprint for ruling the world through military force. While the language in the report is subtler and less incendiary than similar documents in the past, the determination to unilaterally pursue US interests through extreme violence remains the cornerstone of the new strategy. Readers will not find even a hint of remorse in the NMS for the vast destruction and loss of life the US caused in countries that posed not the slightest threat to US national security. Instead, the report reflects the steely resolve of its authors and elite constituents to continue the carnage and bloodletting until all potential rivals have been killed or eliminated and until such time that Washington feels confident that its control over the levers of global power cannot be challenged.

Sunday, July 05, 2015

Independence Day for Greece / Politics / Eurozone Debt Crisis

By: Raul_I_Meijer

I hardly ever go out in the morning, the first 7-8 hours of every single day are taken up by reading and writing. But today I did, to feel the mood in the city. Not sure I got it, though. Everything’s quiet. It may not help that I’m staying smack in the middle of the Acropolis tourist area (still haven’t figured out why 90% of them are American). 

Sunday, July 05, 2015

United States Celebrates the Disastrous Secession From Great Britain / Politics / US Politics

By: Gary_North

Remnant Review

Lots of people celebrate July 4. I do not.

The Declaration of Independence justified armed secession. It was signed by a handful of lawyers on July 4, 1776. Secession was a way of transferring a great deal of power to colonial legislatures, where most of these lawyers were members. It was a way of replacing governors appointed by the King with governors elected by men of the colonies.

Sunday, July 05, 2015

Why is Turkey Taking in so Many Syrian refugees? / Politics / Turkey

By: Atlantic_Perspective

The UN can´t stop praising the Turkish government for hosting around 2 million Syrians. The Turks have indeed been generous, more than any other country in the region. Actually, too generous. Why is Ankara so keen to help the Syrians fleeing into Turkey?

This “generosity” is actually not that generous. The Turkish government has strong reasons to want the Syrians in.

Sunday, July 05, 2015

A Serious Case of Déjà vu / Politics / Credit Crisis 2015

By: Andy_Sutton

Everyone is going to have to cut me a little slack on the eve of the celebration of American independence. No, this isn’t about that video that came out a few days ago that demonstrated exactly how ignorant Americans are about the significance of tomorrow or how the accomplishment that day has been eroded over the past 2+ centuries by those eager to ‘re-create’ America in their own twisted image. This one is a companion piece to a series of ‘Two Cents’ articles that have been released over the past few years relating to the bail-in. I know, I know. He’s at it again. The Pessimist of Pennsylvania is going to go on another rant about those rotten banks and how they’re conspiring to rip everyone off.

Sunday, July 05, 2015

Greece Referendum Vote Result Forecast Yes Win, But Depression Will Continue / Economics / Eurozone Debt Crisis

By: Nadeem_Walayat

Its referendum day for a possible doomsday for Greece where the marxist Syriza government has been hell bent on engineering a Greek exit from the euro-zone ever since its election victory 6 months ago, towards which it has been working step by step attempting to trick the 70% of the Greece electorate who have consistently stated they wish to remain within the euro-zone resulting in a convoluted and confusing referendum question called on short notice that Syriza hopes will convince the majority to vote NO to the euro-zone and europe.

Saturday, July 04, 2015

The Great Greek Economic Depression / Economics / Great Depression 2010's

By: Investment_U

Sean Brodrick writes: Did you know there’s a Great Depression taking place? Not here in the United States, but in Greece.

The cradle of Western democracy has tumbled hard in the past six years, and it looks like it has a lot more pain to bear.

Why is Greece in a Great Depression? Take a look at this chart comparing gross domestic product in Greece now with the “gold standard” of Great Depressions, the U.S. back in the 1930s.

Saturday, July 04, 2015

Crude Oil Price Forecast to Plunge Below $40 / Commodities / Crude Oil

By: Gary_Savage

In the after hours trading on Thursday oil broke below the May daily cycle low indicating a failed daily cycle is in progress, and confirming the intermediate top occurred on May 6th.

Saturday, July 04, 2015

Happy 4th of July Stock Market Analysis / Stock-Markets / Stock Markets 2015

By: Tony_Caldaro

The week started off at SPX 2102, then dropped to 2057 on a gap down Monday. After that the market gapped up three days in a row, but only managed to get back to SPX 2085 by Thursday. Then ended the holiday shortened week at SPX 2077. For the week the SPX/DOW lost 1.20%, the NDX/NAZ lost 1.25%, and the DJ World lost 1.6%. On the economic front positive reports continued to outpace negative ones. On the uptick: pending home sales, the Chicago PMI, consumer confidence, the ADP, ISM manufacturing, construction spending, the WLEI, plus the unemployment rate declined. On the downtick: Case-Shiller, auto sales, factory orders, plus weekly jobless claims rose and payrolls declined. Next week’s reports will be highlighted by the FOMC minutes, ISM services and Consumer credit.

Saturday, July 04, 2015

Will Greece Commit Suicide? Syriza Propaganda and Greek Mass Delusion / Politics / Eurozone Debt Crisis

By: Nadeem_Walayat

The countdown to Sunday's Greek gobbledygook question Referendum that few understand is resulting in ever increasing intensity of propaganda that flows from the game playing marxist Syria government that long since left reality behind as the lies of what the crisis is all about keep compounding so as to convince an increasingly delusional Greek electorate that they are the victims of an evil Troika when the truth is the exact opposite. Firstly, the Greek crisis is NOT about debt! For if it were then Greece would have gone bankrupt 5 years ago!

Saturday, July 04, 2015

The Most Pressing Reason Yet You Want to Avoid Investing in Retail Stocks / Companies / Retail Sector

By: ...

MoneyMorning.com Keith Fitz-Gerald writes:President Obama announced last week that he’s directing the Department of Labor to mandate higher overtime pay for anybody making $50,400 or less per year. Coupled with rising minimum wage standards, that’s given many people reason to cheer.

Yet, this is absolutely the last thing you want to see as an investor.

To be clear, I think anybody who wants a job should have one and that it should pay well. So let’s get that off the table right away.

Friday, July 03, 2015

Fed’s Full Normalization and the Stock Market / Stock-Markets / Stock Markets 2015

By: Zeal_LLC

The US Federal Reserve has been universally lauded for the apparent success of its extreme monetary policy of recent years.  With key world stock markets near record highs, traders universally love the Fed’s zero-interest-rate and quantitative-easing campaigns.  But this celebration is terribly premature.  The full impact of these wildly-unprecedented policies won’t become apparent until they are fully normalized.

Friday, July 03, 2015

The U.S. Dollar's 2014-2015 Rally: Wave 3 in Action / Currencies / US Dollar

By: EWI

An excerpt from our free 14-page report shows you how the Elliott Wave Principle can "Boost Your Forex Success"

I always say trading forex markets is like riding a bike -- except that said bike has one flat tire and the ground beneath it is covered in ice.

So why are they so popular, you might ask? In fact, forex is the most liquid market on earth, where trillions of dollars change millions of hands every day.

Friday, July 03, 2015

The Biotech Market Is on Fire / Companies / BioTech

By: ...

MoneyMorning.com Spending on drugs here in the United States increased 13% last year to $374 billion – the single-biggest one-year jump in history. That’s a record-setting 4.3 billion prescriptions filled.

That means spending on drugs is rising at a rate that’s five times faster than the growth of the overall economy.

Friday, July 03, 2015

Gold and Silver Subdued / Commodities / Gold and Silver 2015

By: Alasdair_Macleod

Gold and silver had a poor week, with no relief from drifting prices after the end of the second quarter. The gold price opened on Monday morning in the Far East at $1187 and fell to a low point at $1158 yesterday. Silver mirrored gold's move falling from $16.05 to $15.50. Both metals rallied yesterday afternoon with gold down slightly but silver up 14 cents. In early European trading this morning there were further small gains.

Friday, July 03, 2015

The Troika Turns Europe Into A Warzone / Politics / Eurozone Debt Crisis

By: Raul_I_Meijer

So now they do it. Now the IMF comes out with a report that says Greece needs hefty debt restructuring.

Mind you, their numbers are still way off the mark, in the end it’s going to be easily double what they claim. Not even a Yanis Varoufakis haircut will do the trick.

Friday, July 03, 2015

The Complexity of Legal Tender / Currencies / Fiat Currency

By: Dr_Jeff_Lewis

Measuring wealth with an ever-expanding ruler makes for a carnival illusion of safety, suspended in a vast, uneven web of complexity.

The longer society and culture remain detached from the nature of true wealth, the more fragile we become to ‘normal’ risk. 

Complexity is not always good or robust.

Friday, July 03, 2015

Stock Market Where are we? And where are we Going? / Stock-Markets / Stock Markets 2015

By: WavePatternTraders

Announcement: We are running a promotion for 3 days; all packages are reduced 50% for your first month. So if you have ever wanted to try our services out, now is the time to take advantage of a reduced price. The offer ends Sunday July 5th at midnight. Please use this discount code 959815683A to take advantage of the promotion.

SPX

These are the questions we all want answering. The gap down last week from the Greece announcement that there would be announcement, potentially it could suggest a possible truanted high in place at 2130. Although we have yet to see a 5 wave decline from 2130SPX, so depending on the outcome to the Greece, may or may not push the markets much lower, although I would favor a large gap down should the vote favor leaving the Euro, similar to last weekend.

Friday, July 03, 2015

Xi’s Anti-Corruption Campaign Is Key to China’s Prospects / Politics / China

By: John_Mauldin

George Magnus is one of the most influential economists in the world today. From his position as chief economist at UBS for a number of years, he enjoyed a front-row seat to growth miracles, credit booms, and financial crises in major economies around the world and is widely credited with identifying the trigger points that eventually led to the global financial crisis in 2008.

Today, he works as an associate at Oxford University’s China Center, a senior economic adviser at UBS, and an independent economic consultant to governments and private investors who can afford his limited time.