Euro Area Inflation Unexpectedly Misses Despite Sliding Unemployment

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Euro Area Inflation Unexpectedly Misses Despite Sliding Unemployment

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The euro stumbled, dropping to session lows on Thursday after Eurostat reported that despite a welcome decline in Europe’s unemployment rate to 8.8%, the lowest level in 9 years, Eurozone inflation missed expectations, rising from 1.4% to 1.5%, below t…

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Killer Millennials: The Era Of Destruction Has Started

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According to Neil Howe, the Fourth Turning is a crisis and it’s happening right now.

The United States is in an era of great destruction, as the old institutional way of life created by past generations is being systematically destroyed by the …

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Thanksgiving Weekend – Older Millennials (25-34) Powered Surge In Online Spending And Shift To Mobile

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While online spending surged, the overall picture for Thanksgiving weekend spending was more mixed as the traditional “bricks and mortar” retailers continued to struggle. Nevertheless, overall spending was about 4% higher. The National Reta…

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Fed’s Kashkari Responds To Zero Hedge: “The Fed’s Job Is Not To Protect Investors”

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Former Goldmanite and current Minneapolis Fed president, Neel Kashkari, conducted another #AskNeel session on Twitter where the dovish FOMC voter (he was the only one to dissent to the Fed’s rate hike decision earlier this year) received numerous quest…

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The Internet’s Impact On Humanity Is Just Getting Started

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Authored by Mike Krieger via Liberty Blitzkrieg blog,
We have millions of people who are warehoused in almost a larval state in their apartments, watching tv, paying for their medical plans, and glued to this mindless opera of cultural decay that&rsquo…

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WaPo Reporter Caught On Hidden Camera Being A Bit Too Honest; Admits “No Evidence” Of Trump-Russia Collusion

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After exposing the shocking, yet predictable, political bias of journalists at CNN and New York Times, Project Veritas has now set their sights on the Washington Post.  In a candid conversation with an undercover Project Veritas journalist, the Post’s National Security Director, Adam Entous, put himself in danger of being a bit too honest, at least by his employer’s standards, by admitting that “there’s no evidence of [Trump-Russia collusion] that I’ve seen so far.”  Entous goes on to admit that “it’s a fucking crap shoot” and that he has no idea how Mueller’s investigation might turn out.

Entous: “Our reporting has not taken us to a plcae where I would be able to say with any confidence that the result of it is going to be the president being guilty of being in cahoots with the Russians.  There’s no evidence of that that I’ve seen so far.”

 

PV Journalist: “There has to be something, right?”

 

Entous: “Maybe, maybe not.  It could just be lower-level people being manipulated or manipulating, but it’s very hard to, it’s really…It’s a fucking black box.”

 

“We’ve seen a lot of flirtation, if you will, between them but nothing that, in my opinion, would rank as actual collusion.  Now that doesn’t mean that it doesn’t exist, it just means we haven’t found it yet.  Or maybe it doesn’t exist.”

 

“I mean it’s a fucking crap shoot. I literally have no prediction whatsoever as to what would happen, and I do all the stuff for the Post on this so…”

Today we show you our second undercover video within @washingtonpost…this time exposing Nat’l Security Director Adam Entous who ADMITS that the Russia story is a “f*cking crap shoot” and “maybe it doesn’t exist at all.” pic.twitter.com/qeEfk9oCKA

— James O’Keefe (@JamesOKeefeIII) November 29, 2017

Of course, on the surface, Entous’ opinions are not that explosive and likely mimic the views held by many Americans…namely that despite 1.5 years of investigations no one has presented any actual, tangible evidence of Trump-Russia collusion. 

That said, what is explosive about this particular undercover sting is just how different Entous’ private views on the Trump-Russia investigation are from the constant stream of narrative-building collusion headlines that flood the Washington Post’s homepage each and every day.

Like this one…

Or this one if you prefer…

Of course, rather than focus on the blatant media bias that has once again been exposed by Project Veritas, the mainstream media rushed to the defense of the Washington Post by focusing instead on the foiled attempt of one of O’Keefe’s journalists to plant a fake story at WaPo to see if they would simply run it with no questions asked or actually do their jobs.  Apparently CNN thought the foiled plot had put O’Keefe “on the defensive”…

PV

…but O’Keefe seemed to not be all that defensive in his response below…which presumably means we’ll all be treated to many more undercover stings in the years to come.

MSM want to destroy @Project_Veritas. They see us as their enemy. When we expose them, they are lose their power. We have a stone lodged between Goliath’s eyes. They want me to kneel down & apologize. I will not. We will keep pushing, we will expose the truth. –@JamesOKeefeIII pic.twitter.com/vbBVxXtBD6

— Project Veritas (@Project_Veritas) November 29, 2017

Finally, here is the latest Project Veritas video for your viewing pleasure:

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Tech Wreck Hits Asia – TATS Turmoil After FANG Flush

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While FANGs cratered in US markets, the turmoil in tech stocks has spread to AsiaPac with Hong Kong down hard as TATS tumble to one-month lows at the open

Asia’s “FANG”  equivalent – accounting for 16% of MSCI Emerging Market Stock index is TATS – Taiwan Semi, Alibaba, Tecent, and Samsung…

All four names are down notably in the last week…

Following the biggest tumble in South Korea Industrial Production (and the first rate hike by Bank of Korea in 6 years), it appears there are no dip-buyers yet. KOSPI is down at one-month lows…

All the major China indices are opening lower…

As Blomberg strategist Garfield Reynolds warns, China’s deleveraging drive toward slower, steadier growth represents a major risk for markets, even if the transition is managed smoothly.

The key concern isn’t some sort of general meltdown such as a chain reaction of defaults, yield spikes, stock routs and economic turmoil.

 

While that’s possible, the strength of China’s economy and Xi Jinping’s enhanced political grip make it extremely unlikely.

 

The greater danger is that the program succeeds, but that markets are way too optimistic about the world’s capacity to cope with a slower-growing China .

Investors should face up to the prospect that an engineered slowdown can be as disruptive as the spontaneously created, burst-bubble variety

One warning sign is the way mainland China’s equities have underperformed Hong Kong and the broader Asia-Pacific index, despite the country being the region’s engine of growth.

 

 

That suggests that the rest of the region may suffer a higher- beta correction even if the deleveraging campaign doesn’t take too much out of Shanghai and Shenzhen shares.

 

As the biggest producer and consumer of most of the major industrial metals, China has regularly caused market ructions either through the vagaries of collateralized lending or through direct intervention via shutdowns or output curbs.

 

Aluminum is the latest poster child for the latter. It has slumped after the government’s curbs didn’t match the draconian expectations that spurred smelters to boost output earlier in the year.

 

Industrial metals broadly have had a strong 2017 and are the only sector keeping the Bloomberg Commodity Index anywhere close to breaking even this year. Subindexes for energy and agriculture are a long way under water. Any further reversal for base metals will throw a big question mark over the robust-global-growth-lifts-all- boats hypothesis.

Whatever the goals may be, China is working to stop growth from either overheating or from creating too much environmental or societal pollution.

And it’s doing so in pursuit of an agenda that Xi — the most powerful Chinese leader in decades — has just made the cornerstone of his legacy. So the willingness to tolerate collateral damage shouldn’t be underestimated.

The optimistic scenario that a steadier China will be better for all relies on trusting that Xi’s success in consolidating power will translate into success in guiding the economy. And that the path he chooses will end up leading to a stronger global outlook.

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FANG Shareholders Lost Almost 20 Times More Than Bitcoin Investors Today

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While all eyes were told to focus on the cryptocurrency chaos over here… the widely-owned ‘no-brainers’ FANG stocks suffered total losses that were almost 20 times larger than the ‘losers’ in Bitcoin

At the end of the day – amid all the turmoil – Bitcoin ended the day down over $3 billion in market cap…

 

However, FANG stocks suffered their biggest market cap loss ever – losing almost $60 billion today…

Surely – as Joseph Stiglitz warned, investors should be banned from trading FANG stocks – if they can lose this much money in a day, the trading of these shares seems like something that should be heavily regulated.

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Turmoil…

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GDP surged above expectations, Matt Lauer fired, Crude carnage, Semis slaughtered, Momo massacred, Nasdaq knackered, Precious metals pummeled, Bond bloodbath, and Bitcoin bounced and trounced… But everyone loves Trannies!

 

Spot the odd one out… (biggest divergence between Transports and Nasdaq since Nov 2009) – Dow and Small Caps closed at record highs…

 

Futures show the moves this week in a little more context…

(NOTE – today was the biggest divergence between The Dow and Nasdaq in over 5 months)

Today was Trannies biggest day since Nov 2011 to a new record high…

 

A look at Nasdaq and Bitcoin suggest some relationship in the collapse – while Nasdaq broke first, at around 1012amET both suddenly plunged together…

 

Is Nasdaq playing catchdown to FX carry?

And bonds?

 

Nasdaq VIX spiked above 16…

 

And Dow VIX spiked today even as Dow rallied…

 

Financials extended Powell-hype gains…

 

Massive rotation from momentum to value today… (biggest momo factor plunge since election)

 

NOTE – Today’s 3.9% dispersoin between Value and Momo is the biggest since the election…

 

Were investors rotating out of Nvidia and into the underlying?

 

FANG Stocks suffered their biggest daily drop since Feb 2016…to one-month lows…

 

The Philly Semi Index crashed today…biggest single-day drop since Brexit (June 2016)

 

…and just happens to have occurred as the index finally cleared the 2000 dotcom peak

 

 

Bonds were whacked today – while Chinese yields fell modestly, German and US 10Y Yields spiked notably (we do note that Alibaba dropped a $7 billion multi-part bond today which may be a factor)

 

All yields are up on the week…

 

10Y yield back at one-month highs…

 

The yield curve steepened most since September…

 

The Dollar whipsawed around today but ended practically unchanged…

 

Copper continued to collapse – dropping to its lowest since October 10th…

 

Crude carnaged (as did RBOB) on ‘sell-the-leaked-news’ from OPEC (Saudi officials were not worried)…

 

Gold and Silver were slammed lower – silver back at its lowest since Oct 6th…

 

Finally, let’s focus on Bitcoin – having broken $11,000 this morning, it surged on to $11,485, before collapsing to $8595.. then bouncing hard to $10,485, before losing $10k again into the US equity market close…

 

And while everyone i talking about the drop in cryptocurrencies – today’s $60 billion drop in FANG market cap is the largest ever…

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The StingRay Spy Device Is Exactly Why The 4th Amendment Was Written

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Authored by Olivia Donaldson via The Foundation for Economic Education,

Imagine you are in the middle of your typical day-to-day activities. Maybe you are driving, spending time with family, or working. If you are like most people, your phone is at your side on a daily basis. Little do you know that, at any time, police and law enforcement could be looking at information stored on your phone.

You haven’t done anything wrong. You haven’t been asked for permission. You aren’t suspected of any crime.

The StingRay

Police have the power to collect your location along with the numbers of your incoming and outgoing calls and intercept the content of call and text communication. They can do all of this without you ever knowing about it.

How? They use a shoebox-sized device called a StingRay. This device (also called an IMSI catcher) mimics cell phone towers, prompting all the phones in the area to connect to it even if the phones aren’t in use.

The police use StingRays to track down and implicate perpetrators of mainly domestic crimes. The devices can be mounted in vehicles, drones, helicopters, and airplanes, allowing police to gain highly specific information on the location of any particular phone, down to a particular apartment complex or hotel room.

Quietly, StingRay use is growing throughout local and federal law enforcement with little to no oversight. The ACLU has discovered that at least 68 agencies in 23 different states own StingRays, but says that this “dramatically underrepresents the actual use of StingRays by law enforcement agencies nationwide.”

The Violation

Information from potentially thousands of phones is being collected every time a StingRay is used. Signals are sent into the homes, bags, and pockets of innocent individuals. The Electronic Frontier Foundation likens this to the Pre-Revolutionary War practice of soldiers going door-to-door, searching without suspicion.

Richard Tynan, a technologist with Privacy International notes that, “there really isn’t any place for innocent people to hide from a device such as this.”

The Fourth Amendment of the Constitution states that, “the right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.”

The StingRay clearly violates these standards. The drafters of the Constitution recognized that restricting the government from violating privacy is essential for a free society. That’s why the Fourth Amendment exists. The StingRay is creating a dangerous precedent that tells the government that it’s okay for them to violate our rights. Because of this, freedom is quietly slipping out the window.

Little Regulation

Law Enforcement is using StingRays without a warrant in most cases. For example, the San Bernardino Police Department used their StingRay 300 times without a warrant in a little over a year.

In 2010, the Tallahassee Police Department used a StingRay in a warrantless search to track down the suspect of a crime. A testimony from an unsealed hearing transcript talks about how police went about finding their target. The ACLU sums it up well:

“Police drove through the area using the vehicle-based device until they found the apartment complex in which the target phone was located, and then they walked around with the handheld device and stood ‘at every door and every window in that complex’ until they figured out which apartment the phone was located in. In other words, police were lurking outside people’s windows and sending powerful electronic signals into their private homes in order to collect information from within.”

A handful of states have passed laws requiring police and federal agents to get a warrant before using a StingRay. They must show probable cause for one of the thousands of phones that they are actually searching. This is far from enough.

Additionally, there are many concerns that agents are withholding information from federal judges to monitor subjects without approval – bypassing the probable cause standard laid out in the Constitution. They even go as far as to let criminals go to avoid disclosing information about these devices to the courts.

If the public doesn’t become aware of this issue, the police will continue to use StingRays to infringe on our rights in secret and with impunity.

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