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  • Suspect In Custody After Pipe Bomb Explodes At Port Authority, Injuries Reported

    Update 2 : The Terrorist in NYC attack is injured and in custody. Bomb exploded prematurely. The suspect is reportedly a Muslim man from Brooklyn, east Flatbush area, Investigators are on the way to his home, for further investigations
    * * *
    A clip of the moment an alleged pipe bomb exploded at Port Authority around 6:30am on Monday morning has been released.
    BREAKING VIDEO: MOMENT OF EXPLOSION AT TIMES SQUARE SUBWAY STATION pic.twitter.com/bb6nEPwfqD
    — Breaking911 (@Breaking911) December 11, 2017

    This post was published at Zero Hedge on Dec 11, 2017.


  • US Homelessness Rate Rose This Year For First Time Since 2010

    Here’s one statistic about the US economy that you probably won’t find in President Trump’s twitter feed.
    Thanks to a surge in homelessness centered around several large west coast cities, the overall rate of homelessness in the US ticked higher this year, the first increase since 2010, according to a survey from the Department of Housing and Urban Development.
    The U. S. Department of Housing and Urban Development released its annual Point in Time count Wednesday, a report that showed nearly 554,000 homeless people across the country during local tallies conducted in January. That figure is up nearly 1 percent from 2016.
    Of that total, 193,000 people had no access to nightly shelter and instead were staying in vehicles, tents, the streets and other places considered uninhabitable. The unsheltered figure is up by more than 9 percent compared to two years ago.
    Increases are higher in several West Coast cities, where the explosion in homelessness has prompted at least 10 city and county governments to declare states of emergency since 2015.
    The homelessness crisis is only one byproduct of the burgeoning wealth inequality in the US caused by the Federal Reserve’s decision to pump trillions of dollars of ‘stimulus’ into the markets.
    Central-bank money printing has caused asset valuations to balloon while wages for everyone but the most highly skilled workers have stagnated, as the chart below illustrates.

    This post was published at Zero Hedge on Dec 7, 2017.


  • 150,000 Flee Los Angeles As Wildfires Rage – “We’ll Be Fighting This All Week”

    The gate to nowhere. Home destroyed. Now gas line is burning. #VenturaFires pic.twitter.com/3HUR68Urhc
    — Sara Sidner (@sarasidnerCNN) December 6, 2017

    In what sounds like a replay of the devastating fires that killed dozens of people and torched a broad swath of California wine country this past summer, at least five discrete fires barreled across Southern California with extreme speed, torching more than 65,000 acres as firefighters struggled to contain the simultaneous infernos.
    The first blaze started at about 6:25 p.m. Monday in the foothills near Thomas Aquinas College in Santa Paula, a popular hiking destination. It grew quickly to more than 15 square miles in the hours that followed, consuming vegetation that hasn’t burned in decades, Ventura County Fire Sgt. Eric Buschow said, according to CNN.
    Powerful Santa Ana winds and extremely dry conditions have fueled the wildfires, according to the Washington Post, adding hundreds of millions – if not billions – of dollars in damage to what has already been a devastating year for fires. The winds that caused the fires were part of the season’s longest and strongest wind event – driving down from the desert and mountains into the city of Los Angeles.

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


  • Dismissed FBI Agent Is One Who Changed Hillary Email Scandal Language From “Grossly Negligent” To “Extremely Careless”

    Over the weekend we noted that Special Counsel Robert Mueller’s top FBI investigator into ‘Russian meddling’, agent Peter Strzok, was removed from the probe due to the discovery of anti-Trump text messages exchanged with a colleague (a colleague whom he also happened to be having an extra-marital affair with).
    Not surprisingly, the discovery prompted a visceral response from Trump via Twitter:
    Tainted (no, very dishonest?) FBI ‘agent’s role in Clinton probe under review.’ Led Clinton Email probe. @foxandfriends Clinton money going to wife of another FBI agent in charge.
    — Donald J. Trump (@realDonaldTrump) December 3, 2017

    This post was published at Zero Hedge on Dec 5, 2017.


  • Anti-Trump FBI Agent Changed Language Of Hillary Email Scandal From “Grossly Negligent” To “Extremely Careless”

    Over the weekend we noted that Special Counsel Robert Mueller’s top FBI investigator into ‘Russian meddling’, agent Peter Strzok, was removed from the probe due to the discovery of anti-Trump text messages exchanged with a colleague (a colleague whom he also happened to be having an extra-marital affair with).
    Not surprisingly, the discovery prompted a visceral response from Trump via Twitter:
    Tainted (no, very dishonest?) FBI ‘agent’s role in Clinton probe under review.’ Led Clinton Email probe. @foxandfriends Clinton money going to wife of another FBI agent in charge.
    — Donald J. Trump (@realDonaldTrump) December 3, 2017

    This post was published at Zero Hedge on Dec 4, 2017.


  • How Trump Mercilessly Trolls The Media In Five Simple Steps

    Almost every morning Americans wake up to yet another Trump tweet storm that sends MSNBC’s ‘Morning Joe’ hosts and guests into an absolute frenzy that begins with modest expressions of ‘outrage’ and ends with Joe Scarborough once again offering up his ‘professional’ medical opinion on Trump’s mental health just before calling for his immediate impeachment.
    Of course, as Axios points out today, that daily ‘Morning Joe’ meltdown is all part of Trump’s simple 5-step plan to manipulate the media into covering precisely what he wants them to cover. Here’s how it works…
    Step 1: Throw an early morning Twitter bomb, usually but not always timed to “Fox & Friends” fodder or reinforcement. The Tweet-bomb frequently hits “fake news” or some social topic with racial undertones. Within minutes, thousands of Trump’s Twitter followers retweet it, and the sparks fly in response. Trump knows this and has bragged to staff about the storm he’s stirring as he hits “publish.” The data: As president, Trump has tweeted about fake news 124 times, mostly before 9 a.m., and his tweets about fake news average more retweets and likes.

    This post was published at Zero Hedge on Dec 1, 2017.


  • Susan Collins Will Vote For Senate Tax Reform Plan

    Update: In a statement, Susan Collins declared her intention to vote for the Senate GOP tax plan, saying the GOP leadership’s decisions to preserve state and local tax deductions up to $10,000 and to expand the child tax credit helped win her support.
    “I will cast my vote in support of the Senate tax reform bill. As revised, this bill will provide much-needed tax relief and simplification for lower- and middle-income families, while spurring the creation of good jobs and greater economic growth.”
    Here's the full @SenatorCollins stmt RE:her support of the Senate GOP tax plan: pic.twitter.com/nPutmxqHTM
    — Frank Thorp V (@frankthorp) December 1, 2017

    This post was published at Zero Hedge on Dec 1, 2017.


  • Trump Sparks Outrage In UK With “Truculent Tweet” To Theresa May After Retweeting Far-Right Videos

    .@Theresa_May, don’t focus on me, focus on the destructive Radical Islamic Terrorism that is taking place within the United Kingdom. We are doing just fine!
    — Donald J. Trump (@realDonaldTrump) November 30, 2017

    President Trump sparked outrage among Britain’s political establishment on Thursday with a sharp rebuke on Twitter of Prime Minister Theresa May on Twitter after she criticized him for retweeting British far-right anti-Islam videos. Following Trump’s condemnation by British politicians who lashed out at the US president for sharing videos originally posted by a leader of a British far-right fringe group, in an unprecedented attack on Theresa May, Trump replied with what Reuters dubbed an “unrepentant message”:
    ‘Theresa @theresamay, don’t focus on me, focus on the destructive Radical Islamic Terrorism that is taking place within the United Kingdom. We are doing just fine,’ he tweeted.

    This post was published at Zero Hedge on Nov 30, 2017.


  • The Yellen Put – Friend Or Foe?

    The term ‘Greenspan Put’ was coined after the stock market crash of 1987 and the subsequent bailout of Long Term Capital Management in 1998. The Fed under Chairman Alan Greenspan lowered interest rates following the fabled event of default and life continued.
    The idea of the Greenspan Put was that lower interest rates would cure the market’s woes. Unfortunately, the FOMC has since fallen into a pattern whereby longer periods of low or even zero interest rates are used to address yesterday’s errors, but this action also leads us into tomorrow’s financial excess. As one observer on Twitter noted in an exchange with Minneapolis Fed President Neel Kashkari:
    ‘Central Bankers are much like the US Forest Service of old. Always trying to manage ‘nature’ and put out the little brush fires of the capitalist system, while they seem incapable of recognizing they are the root cause of major conflagrations as a result.’
    When the Federal Open Market Committee briefly allowed interest rates to rise above 6% in 2000, the US financial system nearly seized up. Long-time readers of The Institutional Risk Analyst recall that Citigroup (C) reported an anomalous spike in loan defaults that sent regulators scrambling for cover. The FOMC dropped interest rates at the start of 2001 – nine months before the 911 terrorist attacks – and kept the proverbial pedal to the metal until June of 2004.

    This post was published at Zero Hedge on Nov 27, 2017.


  • Second Republican Senator Says He’s Voting ‘No’ On Tax Reform

    #BreakingNews: Sen. @SteveDaines aides to FBN: "No" on tax bill but optimistic about changes pic.twitter.com/2P07bfGIZo
    — FOX Business (@FoxBusiness) November 27, 2017

    Just hours after Sen. Rand Paul announced he would vote ‘yes’ on the Senate’s tax-reform plan, handing the White House a win, a second Republican senator has publicly declared his intention to vote against the bill, joining Wisconsin’s Ron Johnson in opposition.
    And that senator is: Montana’s Steve Daines.
    According to Politico, Daines and Johnson have similar objections: They both believe the bill is too generous to corporations while not doing enough to help small businesses, many of which would benefit from a more charitable pass-through rate. For “pass-through’ entities, taxes are generally filed through the individual income tax code and not the corporate tax code.
    There are millions of these entities, and they are most often sole proprietorships, limited liability companies or partnerships.
    Daines reportedly discussed his reservations about the bill with President Trump over the weekend.

    This post was published at Zero Hedge on Nov 27, 2017.


  • Europe Rebounds From Chinese Rout After Stellar PMIs; US Closed For Holiday

    #Eurozone output #PMI hits 79-month high (57.5) in November. Employment rises to greatest extent in 17 years. pic.twitter.com/hCY1Dx9uzh
    — Markit Economics (@MarkitEconomics) November 23, 2017

    Nothing can keep the BTFD spirit at bay in Europe this Thanksgiving morning.
    Having started the session on the back-foot after the biggest Chinese stock market tumble in 17 months (the SHCOMP dropped -2.3%, most since June 2016) amid tighter liquidity conditions as a result of today’s Thanksgiving holiday in the US and attempts by regulators to rein in asset management firms and the micro-loan market, the negative sentiment was short-lived however, a slew of blockbuster November Eurozone PMIs, among which the highest output print in 79 months, with the highest employment number in 17 years, helped revive sentiment in Europe – and brought the Eurostoxx back to green on the session. Among the notable composite PMI prints:
    France 60.1 vs est. 57.2 Germany 57.6 vs ext. 56.7 Euro zone 57.5 vs est. 56.0 Markit noted this was a multi-year highs seen for all main indicators of output, demand, employment and

    This post was published at Zero Hedge on Nov 23, 2017.


  • Russia Confirms Toxic Cloud Of “Extremely High” Radiation; Source Remains A Mystery

    This Part of Russia is Literally Exposed to 1000x the Normal Radiation Rate pic.twitter.com/AKbOJqUrhh
    — News Cult (@News_Cult) November 21, 2017

    One month after a mysterious radiation cloud was observed over Europe, whose source remained unknown last week speculation emerged that it may have been the result of a “nuclear accident” in Russia or Kazakhstan, on Tuesday Russian authorities on Tuesday confirmed the previous reports of a spike in radioactivity in the air over the Ural Mountains. In a statement, the Russian Meteorological Service said that it recorded the release of Ruthenium-106 in the southern Urals in late September and classified it as “extremely high contamination.”
    Earlier this month, France’s nuclear safety agency earlier this month said that it recorded a spike in radioactivity, and said that “the most plausible zone of release” of this radioactive material “lies between the Volga and the Urals” from a suspected accident involving nuclear fuel or the production of radioactive material. The agency noted, however, that it is impossible to determine the exact point of release given the available data. Luckily, it said the release of the isotope Ruthenium-106 posed no health or environmental risks to European countries.

    This post was published at Zero Hedge on Nov 21, 2017.


  • Big Brother Is Here: Twitter Will Monitor Users Behavior ‘Off Platform’

    In perhaps the most intrusive move of social media platforms’ efforts signal as much virtue as possible and appease their potentially-regulating government overlords, Twitter has announced that it is cracking down on what it defines at hate-speech and not just by looking at its own site.
    ***
    In what amounts to a major shift in Twitter policy, Mashable’s Kerry Flynn reports that the company announced on Friday that it will be monitoring user’s behavior “on and off the platform” and will suspend a user’s account if they affiliate with violent organizations, according to an update to Twitter’s Help Center on Friday.
    Abusive Behavior We believe in freedom of expression and open dialogue, but that means little as an underlying philosophy if voices are silenced because people are afraid to speak up. In order to ensure that people feel safe expressing diverse opinions and beliefs, we prohibit behavior that crosses the line into abuse, including behavior that harasses, intimidates, or uses fear to silence another user’s voice.

    This post was published at Zero Hedge on Nov 19, 2017.


  • Russia-Gate Spreads To Europe

    Ever since the U. S. government dangled $160 million last December to combat Russian propaganda and disinformation, obscure academics and eager think tanks have been lining up for a shot at the loot, an unseemly rush to profit that is spreading the Russia-gate hysteria beyond the United States to Europe…
    ***
    Now, it seems that every development, which is unwelcomed by the Establishment – from Brexit to the Catalonia independence referendum – gets blamed on Russia! Russia! Russia!
    The methodology of these ‘studies’ is to find some Twitter accounts or Facebook pages somehow ‘linked’ to Russia (although it’s never exactly clear how that is determined) and complain about the ‘Russian-linked’ comments on political developments in the West. The assumption is that the gullible people of the United States, United Kingdom and Catalonia were either waiting for some secret Kremlin guidance to decide how to vote or were easily duped.

    This post was published at Zero Hedge on Nov 18, 2017.


  • Pentagon “Mistakenly” Retweets Post Calling For Trump To Resign

    The Al Frankenstien picture is really bad, speaks a thousand words. Where do his hands go in pictures 2, 3, 4, 5 & 6 while she sleeps? …..
    — Donald J. Trump (@realDonaldTrump) November 17, 2017

    Defense Secretary James Mattis will get an earful from his boss this morning, after an ‘authorized user’ of the Pentagon Twitter account retweeted – and then swiftly deleted – a tweet calling for President Donald Trump to resign after the president slammed Sen. Al Franken while remaining silent about Alabama Sen. Candidate Roy Moore.
    Pentagon spokesman Col. Rob Manning said in a statement that an authorized operator of the Defense Department’s official Twitter site ‘erroneously retweeted content that would not be endorsed by the Department of Defense. The operator caught this error and immediately deleted it.’
    Chief Pentagon spokeswoman Dana White posted the same statement on Twitter.

    This post was published at Zero Hedge on Nov 17, 2017.


  • House Passes GOP Tax Reform Bill In Major Victory For Republicans

    Update: The House has passed its tax reform package with a final vote of 227 yeas to 205 nays. And while the Republican leadership has ordered the caucus not to gloat about the legislative victory – possibly the biggest so far for President Trump – Paul Ryan and Co. will be able to go home to their constituents and enjoy a relaxing Thanksgiving holiday.
    Their colleagues in the Senate won’t be so lucky.
    Senate leaders have said they’re working with holdouts like Ron Johnson as well as lawmakers like Bob Corker who are leaning toward voting against the bill in its current form. The Senate Finance is still marking up the bill, adding amendments and making alternations, but leaders say it’ll make it to a floor vote the week after Thanksgiving.
    Senators Marco Rubio and Mike Lee have wanted to see a bigger expansion of the childcare tax credit. Johnson has said more of the tax relief should go to LLCs via the pass-through rate and less generous breaks should be given to corporations.
    Here’s a list of the Republicans who voted ‘nay’.
    GOP no votes on the tax bill pic.twitter.com/QJ9vVdgPhG
    — Naomi Jagoda (@njagoda) November 16, 2017

    This post was published at Zero Hedge on Nov 16, 2017.


  • Deutsche: The Swings In The Market Are About To Get Bigger And Bigger

    Risk Parity not having a good day pic.twitter.com/GRdpB4NUOj
    — zerohedge (@zerohedge) November 10, 2017

    One week ago, on November 9 something snapped in the Nikkei, which in the span of just over an one hour (from 13:20 to 14:30) crashed more than 800 points (before closing almost unchanged) at the same time as it was revealed that foreigners had just bought a record amount of Japanese stocks the previous month.
    As expected, numerous theories emerged shortly after the wild plunge, with explanation from the mundane, i.e., foreigners dumping as the upward momentum abruptly ended, to the “Greek”, as gamma and vega stops were hit by various vol-targeting (CTAs, systemic, variable annutities and risk parity) funds. One such explanation came from Deutsche Bank, which attributed the move to a volatility shock, as “heightened volatility appears to have triggered program trades to reduce risk”, and catalyzed by a rare swoon in both stocks and bonds, which led to a surge in Nikkei volatility…
    … and forced highly leveraged risk parity funds and their peers to quickly delever. As DB’s Masao Muraki explained at the time:

    This post was published at Zero Hedge on Nov 16, 2017.


  • How Facebook & Google Threaten Public Health… And Democracy

    Authored by Roger McNamee, op-ed via The Guardian,
    The sad truth is that Facebook and Google have behaved irresponsibly in the pursuit of massive profits. And this has come at a cost to our health…
    In an interview this week with Axios, Facebook’s original president, Sean Parker, admitted that the company intentionally sought to addict users and expressed regret at the damage being inflicted on children.
    This admission, by one of the architects of Facebook, comes on the heels of last week’s hearings by Congressional committees about Russian interference in the 2016 election, where the general counsels of Facebook, Alphabet (parent of Google and YouTube), and Twitter attempted to deflect responsibility for manipulation of their platforms.
    The term ‘addiction’ is no exaggeration. The average consumer checks his or her smartphone 150 times a day, making more than 2,000 swipes and touches. The applications they use most frequently are owned by Facebook and Alphabet, and the usage of those products is still increasing.
    In terms of scale, Facebook and YouTube are similar to Christianity and Islam respectively. More than 2 billion people use Facebook every month, 1.3 billion check in every day. More than 1.5 billion people use YouTube. Other services owned by these companies also have user populations of 1 billion or more.
    Facebook and Alphabet are huge because users are willing to trade privacy and openness for ‘convenient and free.’

    This post was published at Zero Hedge on Nov 11, 2017.


  • Dramatic Footage: Bahrain Oil Pipeline Explodes, Bursts Into Giant Flames

    #BREAKING : Huge #fire resulted in a gas pipeline explosion in #Bahrain while ago. (exact cause yet to be confirmed) pic.twitter.com/kAgQ1nJARa
    — (@HSajwanization) November 10, 2017

    An oil pipeline in Bahrain exploded, and burst into giant fireball, as numerous videos posted on social media showed. According to the Saudi Gazette, an explosion caused a fire in an oil pipeline near Buri village. It adds that no injuries have been reported, and that civil defense teams are extinguishing the fire.
    More from Al-bilad Press (google translated):
    A large explosion of one of the oil pipelines near the area of ??Buri overlooking the market Waqif, and evacuate all houses near the scene of the explosion. The Waqif market was completely closed so firefighters could control the fire. The Ministry of the Interior through its official account on the site “Twitter” there is no casualties at the scene. It also announced the cutting off of traffic on the Crown Prince’s road towards Hamad City.
    The representative of the “country” from the heart of the pipe fire in the village of Buri that a huge fire block devoured a group of cars parked off the village and Souq Waqif.
    The delegate added that the civil defense mechanisms rushed to the scene of the incident from the area centered in the village of Damastan and began to block the flames of escalating fire and has been strengthened from the number of other centers.

    This post was published at Zero Hedge on Nov 10, 2017.


  • The Size Of The Financial Avalanche Coming Grows Larger

    Inflation vs deflation. The true economic definition of ‘inflation’ is the rate of increase in the money supply in excess of the rate of increase in wealth output. Inflation is monetary in nature. Rising prices are the manifestation of inflation. Someone I follow on Twitter posted an ingenious example from which to conceptualize the true concept of inflation using the game of Monopoly:
    The players all start out with reasonable amounts of money to speculate on real estate. As the game proceeds, players collect $200 by simply passing Go and use this money to speculate on real estate. By the end of the game, only $500 dollar bills are worth anything, the whole thing blows up, and most players end up destitute. In a twist of irony, an original game board sells for about $50,000.
    A fixed amount of real estate and continuously increasing money supply, with ‘passing Go’ functioning as the game’s monetary printing press. The monopoly analogy is readily applied to the current real estate market. The Fed tossed roughly $2 trillion into the mortgage market, which in turn has fueled the greatest U. S. housing bubble in history. The most absurd example I saw last week is a 264 sq ft studio in Los Angeles listed on 10/26 for $550,000. The seller bought it a year ago for $335,000. This is the degree to which Fed money printing and easy access Government guaranteed mortgages have distorted the system.
    Here is monetary inflation as it is showing up in the stock market and housing markets:

    This post was published at Investment Research Dynamics on November 10, 2017.