If You Want To Get A New Job, Don’t Do This On Social Media

What you say and do on social media has consequences: just ask Donald Trump. It will also determine if you get that new job you’ve had your eye on.
According to a new survey released by Challenger Gray, as increasingly more social media platforms become popular, job seekers continue to expand their online footprints, creating and building multiple profiles. And, as a result, the overwhelming majority of job recruiters are turning to the internet as a means of ensuring that potential job candidates are a good fit for their companies.
In the survey, conducted in April and May among 300 recruiters in a variety of industries nationwide, nearly 80 percent of recruiters indicated that they use some type of internet or social media search as a means to vet or learn more about candidates, and 76 percent check these sites before they initially contact the candidate.
Specifically, 96 percent of respondents reported that they check LinkedIn before contacting a candidate, while 40 percent check Facebook. Sixteen percent search Twitter, and 14 percent see what appears on a Google search. ‘It is more important than ever that job seekers are up to speed when it comes to using social media. Job seekers should Google themselves to see what appears and make any changes that may reflect poorly on them,’ said Andrew Challenger, vice president of Challenger, Gray & Christmas, Inc.

This post was published at Zero Hedge on Jul 6, 2017.

Government Ethics Director, Who Repeatedly Clashed With Trump, Resigns

Walter Shaub, an attorney and the director of the government’s ethics office who regularly clashed with President Trump over his business interests, submitted his resignation on Thursday. He is leaving his office nearly six months before the end of his term. Shaub’s last day as the head of the Office of Government Ethics (OGE) will be on July 19, according to his resignation letter to Donald Trump which he posted on his Twitter account.

This post was published at Zero Hedge on Jul 6, 2017.

Tesla Tumbles Into Bear Market – Loses Crown As Biggest US Automaker

On April 10th 2017, Tesla market cap surpassed General Motors for the first time in history. In mid-June, Tesla was valued more than $11bn above GM… but that has all gone now.
As The FT reports, Tesla bulls were delivered a few setbacks this week, which overshadowed news that its eagerly anticipated mass market Model 3 will launch at the end of the month.
Volvo, owned by China’s Geely Automobile Holdings, spooked Tesla bulls after it said on Wednesday that it would stop manufacturing combustion engine-only vehicles by 2019 and would only produce hybrids or battery-powered vehicles afterwards. The company also said that it would launch five fully electric cars between 2019 and 2021, three under the Volvo brand and two under the Polestar performance brand.

This post was published at Zero Hedge on Jul 6, 2017.

Witness In Shkreli Trial Says “Most Hated Man In America” Made Him Millions

Benjamin Brafman, attorney for former Turing Pharmaceuticals CEO Martin Shkreli has based Shkreli’s defense on the notion that, while his client may have misled investors in hedge funds and pharmaceutical companies that he controlled, most of them made money thanks to Shkreli’s business acument and investing prowess.
Even Sarah Hassan, a witness for the prosecution, admitted as much when she testified that Shkreli paid her back with $400,000 in cash, plus shares in Retrophin, a biotech company founded by Shkreli – though Shkreli’s repeated evasions felt like ‘a betrayal.’
And on Wednesday, testimony from another witness supported Brafman’s assertion: Darren Blanton, a Dallas-based biotechnology investor, told the jury that, although Shkreli lied to him repeatedly about his investing track record and the amount of capital he managed, the former pharma entrepreneur helped him make millions in profits.
Here’s Reuters:

This post was published at Zero Hedge on Jul 6, 2017.

Tax Collectors In Florida Openly Carry Guns, While Public Is Banned From Doing So

Tax collectors in Florida are now publicly announcing the values of being armed when demanding money from citizens. The only problem is that the state bans open carry for civilians that the tax collectors are stealing money from.
If you’re leery about government intervention in your life, and you know that taxation is theft, this article will probably strike a nerve. However, on the other hand, if you revile and worship the government which steals from you and creates edicts you must follow under threats of violence using your stolen money, you’ll love what they are doing down in the Sunshine state.
‘A Central Florida tax collector says a new policy will allow his employees to openly carry firearms while they work,’ The Associated Press reports. ‘Seminole County Tax Collector Joel Greenberg told the Orlando Sentinel that according to Florida law, he and his employees are considered ‘revenue officers’ and are exempt from the state’s ban on the open carrying of firearms while performing their duties.’
Ready for the glaring hypocrisy?
Tax collectors in Florida are now publicly announcing the values of being armed when demanding money from citizens. The only problem is that the state bans open carry for civilians that the tax collectors are stealing money from. If you’re leery about government intervention in your life, and you know that taxation is theft, this article will probably strike a nerve. However, on the other hand, if you revile and worship the government which steals from you and creates edicts you must follow under threats of violence using your stolen money, you’ll love what they are doing down in the Sunshine state. ‘A Central Florida tax collector says a new policy will allow his employees to openly carry firearms while they work,’ The Associated Press reports. ‘Seminole County Tax Collector Joel Greenberg told the Orlando Sentinel that according to Florida law, he and his employees are considered ‘revenue officers’ and are exempt from the state’s ban on the open carrying of firearms while performing their duties.’ Ready for the glaring hypocrisy?

This post was published at shtfplan on July 6th, 2017.

BMO Finds An A New Source Of Systemic Risk

In a time of suffocating, crushing market complacency (which has made the lives of financial analysts so boring, they have even quantified what complacency is), a pet hobby that has emerged within the financial community is to find new possible sources of underappreciated systemic risk. One such attempt comes from BMO’s Mark Steele today, who notes that aside from the pressure that the short to medium end of the curve is dishing out as Central Banks turn hawkish, “the market dishes out some of its own early signals of a more important nature.”
Steele says he created a basket of Chinese Bank CDS to look for systemic risk there, and yesterday it notably broke above a narrowing trend – Exhibit 1.

This post was published at Zero Hedge on Jul 6, 2017.

JULY 6/WAR DRUMS BEAT LOUDER AGAINST NORTH KOREA/EU PARLIAMENT SUSPENDS ACCESSION TALKS WITH TURKEY/MONTE DE PASCHI BAILED OUT AGAIN WITH A 5 BILLION EURO INFUSION/EARTHQUAKE AT 5.8 IN MONTANA UN…

GOLD: $1223.80 UP $3.40
Silver: $16.00 UP 8 cent(s)
Closing access prices:
Gold $1225.50
silver: $16.06
SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
SHANGHAI FIRST GOLD FIX: $1235.54 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1225.50
PREMIUM FIRST FIX: $10.04
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
SECOND SHANGHAI GOLD FIX: $1235.05
NY GOLD PRICE AT THE EXACT SAME TIME: $1225.25
Premium of Shanghai 2nd fix/NY:$8.80
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
LONDON FIRST GOLD FIX: 5:30 am est $1224.30
NY PRICING AT THE EXACT SAME TIME: $1224.10
LONDON SECOND GOLD FIX 10 AM: $1224.90
NY PRICING AT THE EXACT SAME TIME. $1225.80
For comex gold:
JULY/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 19 NOTICE(S) FOR 1900 OZ.
TOTAL NOTICES SO FAR: 58 FOR 5800 OZ (.1804 TONNES)
For silver:
JULY
369 NOTICES FILED TODAY FOR
1,845,000 OZ/
Total number of notices filed so far this month: 1970 for 9,850,000 oz

This post was published at Harvey Organ Blog on July 6, 2017.

A Supercomputer Is Betting on a Market Crash in the Months Ahead

One of the world’s most powerful supercomputers, which has been retrofitted for trading the stock market, appears to be betting on a crash in the months ahead.
The Financial Crisis Observatory (FCO) at ETH Zurich released its latest Global Bubble Status Report on July 1st. As we discussed with FCO’s director, Didier Sornette, on our podcast in May, they use one of the world’s leading supercomputers to monitor global markets each day for two distinct bubble-like characteristics: faster than exponential price movement and accelerating oscillations (see Podcast: Using a Supercomputer to Trade the Market).
Their July report notes an increasing trend of positive bubbles across multiple asset classes.
Here’s what they say in their ‘big picture’ section:
‘One can observe the continuation of a trend in the growth of positive bubbles in the fixed income asset class for the second month. The fraction of stocks diagnosed in a positive bubble state increased this month to exceed 36% compared with 32% last month. Mixed bubble signals still occur only in few commodity indices. We also observe renewed bubble activity in currency pairs.’ [source]

This post was published at FinancialSense on 07/06/2017.

Stock and Bond Markets Blow Off Fed, Fed Gets Frustrated

But now the first feeble reactions as stocks and bonds fall.
Here is what happened: The Fed has been tightening by raising rates and it has announced the unwinding of QE, with only the timing being still debated – whether at the September or December meeting – and financial conditions should be tightening in response, and the Fed wants them to tighten. But the opposite has happened. Markets have blown off the Fed.
Instead of tightening, financial conditions have been easing. Over the past few months, stock prices have surged, and bond prices have risen too, as longer-term yields have fallen and yield spreads have narrowed. Members of the policy-setting Federal Open Markets Committee (FOMC) have repeatedly lamented this disconnect at their last meeting in June. This became clear in the minutes of the meeting.
Today’s weekly update of the St. Louis Financial Stress Index shows this disconnect. The index – which indicates whether ‘financial conditions,’ as the Fed calls them, are easing or tightening – shows that financial stress barely budged off record lows (red line). In the chart, zero (blue line) indicates normal financial market conditions. Values below zero indicate below-average financial stress and easy financial conditions:

This post was published at Wolf Street on Jul 6, 2017.

EU Parliament Suspends Turkey Accession Talks

In the latest diplomatic escalation between the EU and Turkey, on Thursday the European Parliament voted to suspend Turkey’s EU accession talks, which as a reminder have been dragging on for decades, if Ankara proceeds with its tplanned constitutional reform which grants sweeping powers to President Recep Erdogan. The resolution passed by the parliament in Strasbourg calls for the ‘ Commission and the member states, in accordance with the Negotiating Framework, to formally suspend the accession negotiations with Turkey without delay if the constitutional reform package is implemented unchanged.”
“The current strategy of the European Commission and EU leaders seems to wait silently for things to improve in Turkey,” said the European Parliament’s lead negotiator on Turkey, Kati Piri, criticizing a stance which she said was “feeding President Erdogan’s authoritarianism.”
Still, the vote was largely symbolic: the EU Parliament has limited influence on Turkey’s decades-old pursuit of EU membership, now in limbo after bitter exchanges between Ankara and some European countries, but the decision does highlight the gulf which has grown between the two sides.
In response to the decision, Turkey’s EU affairs minister, Omer Celik did what Turkey has always done best: ignored the decision, and announced that Ankara does not accept the EU Parliament report. Quoted by Reuters, Celik said Ankara regarded Thursday’s vote in Strasbourg as invalid, while the foreign ministry was similarly dismissive.

This post was published at Zero Hedge on Jul 6, 2017.

State Pension Crisis Leading to High-Tax Exodus

Many public pension plans are dragging down their respective state and local governments, and the root of the problem is legislative inflexibility and demographic shifts, stated Chicago resident Jim Bianco, head of Bianco Research.
This time on FS Insider, we spoke with Bianco about the massive public pension funding gap, now reaching a tipping point, and Illinois’ politically-created downward spiral.
The Public Pension Straight Jacket
The reality is, the state of Illinois, where Bianco resides, could become the first ever to get hit with a junk status credit rating.
The cause is the unfunded liabilities associated with public pensions in the state. In 1970, the state of Illinois rewrote its constitution, Bianco noted, and added language forbidding changes to any pension or union contracts the state, city, or any entity within the state entered into.
A couple of years ago, the state proposed some rules to make state pensioners pay more into their pension in return for fewer benefits. The state supreme court said these contracts couldn’t be changed, however. The only way was to amend the state constitution, which is unlikely to happen, Bianco noted.

This post was published at FinancialSense on 07/06/2017.

Gold and Silver Market Morning: July 6 2017 – Gold and silver still stabilizing, where next is critical!

Gold Today – New York closed yesterday at $1,225.30. London opened at $1,224.00 today.
Overall the dollar was slightly weaker against global currencies, early today. Before London’s opening:
– The $: was almost unchanged at $1.1353 after yesterday’s $1.1356: 1.
– The Dollar index was slightly weaker at 96.22 after yesterday’s 96.25.
– The Yen was stronger at 113.33 after yesterday’s 113.51:$1.
– The Yuan was weaker at 6.8037 after yesterday’s 6.7988: $1.
– The Pound Sterling was stronger at $1.2935 after yesterday’s $1.2908: 1.
Yuan Gold Fix
Gold Today – New York closed yesterday at $1,225.30. London opened at $1,224.00 today. Overall the dollar was slightly weaker against global currencies, early today. Before London’s opening: – The $: was almost unchanged at $1.1353 after yesterday’s $1.1356: 1. – The Dollar index was slightly weaker at 96.22 after yesterday’s 96.25. – The Yen was stronger at 113.33 after yesterday’s 113.51:$1. – The Yuan was weaker at 6.8037 after yesterday’s 6.7988: $1. – The Pound Sterling was stronger at $1.2935 after yesterday’s $1.2908: 1.
Shanghai is steady at higher levels than on Tuesday. New York traded at $5 lower than Shanghai following Shanghai’s close yesterday. Today London opened $9 lower than Shanghai. Today remains a critical day for the gold price in all three global centers as the direction forward is still to be established.
The gold price can go either way right now.
Silver Today – Silver closed at $16.03 yesterday after $16.08 at New York’s close Wednesday. The silver price has formed a double bottom, if the silver price moves higher next.

This post was published at GoldSeek on Julian D.W. Phillips.

Services Economy Rebounds But Stagflation Looms As Inventories Spike

Following the shizophrenic picture of Manufacturing in ‘Murica that we got earlier in the week, this morning’s Services surveys show a modest and consistent rise for Markit’s PMI (strongest since January with input prices soaring at the fastest pace in 2 years, and new orders at 5-month highs), and ISM’s (employment down as new orders rise).
A reminder of the divergence between ISM and Markit’s view of Manufacturing…

This post was published at Zero Hedge on Bt Tyler Durden Jul 6, 2017.

What Is ITALEAVE & The Impact It Will Have | Golden Rule Radio Precious Metals Update

The following video was published by McAlvany Financial on Jul 6, 2017
What is ITALEAVE and what impacts will it have on the European Union, the Euro, US Dollar, and the precious metals markets. This week we’ll cover the movements of Gold, Silver, Platinum, Palladium, and the ratio opportunities that are available right now. Geopolitical tensions continue to rise with North Korea missile tests reaching new highs and what appears to be China not able to demonstrate influence upon the North Korea. We’ll talk about what is next for Gold & Silver as we get closer to the compressing pennant pattern which will yield a breakout. Thanks for listening.