Global News
Daniel Hannan Explains How Democracy Died In Europe (Video)
– Daniel Hannan Explains How Democracy Died In Europe (ZeroHedge, March 12, 2015):
With Greece on the edge of being kicked out of the Eurozone , either voluntarily or otherwise, with an anti-austerity party on the verge of taking over the reins of power in Spain, with Beppe Grillo waiting in the corridors for his chance to pounce in Italy and with Marine le Pen and her nationalist party on the verge of becoming the biggest shocker of Europe over the coming years, here, according to Daniel Hannan, is what killed democracy in Europe. Europe itself.
Here are the punchlines, which are all based documented fact:
Read moreDaniel Hannan Explains How Democracy Died In Europe (Video)
U.S. Plan To Drop Russia From SWIFT Hilariously Backfires
– US plan to drop Russia from global banking system hilariously backfires (Sovereign Man, March 12, 2015):
If Vladimir Putin is remotely capable of laughter (the jury is out on that one…) then he’s probably doing so right now.
Russia is once again Arch-Enemy of the United States. It’s like living through a really bad James Bond movie, complete with cartoonish villains.
And for the last several months, the US government has been doing everything it can to torpedo the Russian economy, as well as Vladimir Putin’s standing within his own country.
The economic nuclear option is to kick Russia out of the international banking system. And the US government has been vociferously pushing for this.
Specifically, the US government wants to kick Russia out of SWIFT, short for the Society of Worldwide Interbank Financial Telecommunications.
Read moreU.S. Plan To Drop Russia From SWIFT Hilariously Backfires
Israel Destroys EU-Funded West Bank Shelter For Palestinians While Expanding Settlements
– Israel destroys EU-funded West Bank shelter for Palestinians while expanding settlements (RT, March 12, 2015):
With politicians around the globe calling on Israel to take action against illegal settlements in the West Bank, the Jewish state has finally taken action. Not against its own communities, but against an EU-funded building for Palestinians.
On Tuesday, the Israeli government demolished an EU settlement on Mount Scopus in northeast Jerusalem. The city’s municipality said it undertook the measures because the structure was constructed on land, which had been designated for a national park.
According to the EU it was not even a building, but a temporary shelter, which the pan-European organization has continued to fund to help displaced people.
Read moreIsrael Destroys EU-Funded West Bank Shelter For Palestinians While Expanding Settlements
Russian S-300 Missile Systems Designed To Hit Near Space Targets Such As Nuclear Warheads ‘Enter Service’
A soldier during a military exercise involving S-300/SA 10 surface-to-air missile systems
– Russian S-300 missile systems capable of targeting near space ‘enter service’ (RT, March 12, 2015):
Near space targets can now be hit by Russian army’s mobile tactical air defense S-300 and S-400 systems as a much anticipated long-range missile enters service. It is designed to engage hard targets such as nuclear warheads, rather than satellites.
The news about a mobile version of an exo-atmospheric missile system has been around since the 1990s, and throughout the 2000s it was expected “in a little while.” But the result obtained is worth the years of hard effort.
The new 40N6 missile guarantees a direct hit on a target at a range of 400 kilometers and at heights of up to 185 kilometers – effectively near space.
The Mystery Of America’s Missing Wage Growth Has Been Solved
– The Mystery Of America’s Missing Wage Growth Has Been Solved (ZeroHedge, March 12, 2015):
One of the biggest conundrums, one that has profound monetary policy implications, and that has been stumping the Fed for the past year is how can it be possible that with 5.5% unemployment there is virtually no wage growth. The mystery only deepens when the Fed listens to so-called economist experts who tell it wage growth is imminent, if not here already, and it is merely not being captured by the various data series. Friday’s jobs data merely confirmed that since the Lehman crash there has been virtually no real wage growth, as the increase in nominal average hourly earnings is right on top of the Fed’s inflation target, instead of where Yellen would like to see it: somewhere in the vicinity of 4%.
And yet, when sophisticated, erudite pundits, usually from a paid leadership position, look at the data, they say wages are growing.
How is that possible?
Read moreThe Mystery Of America’s Missing Wage Growth Has Been Solved
Retail Sales Crumble, Suffer Worst Run Since Lehman
– Retail Sales Crumble, Suffer Worst Run Since Lehman (ZeroHedge, March 12, 2015):
Earlier today we warned readers that based on actual credit card spending data, today’s retail sales data would continue the worst trend since Lehman, and sure enough that’s what happened: moments ago the Commerce department reported that in February, retail sales missed once again and missed big and across the board, the third big miss in a row, with the headline print coming at -0.6%, far below the 0.3% expected, and in line with the -0.8% drop last month. Putting the headline numbers in context: December -0.9%, January -0.8%, February -0.6%. Excluding the volatile autos and gas, sales dropped once again, sliding -0.2%, below the 0.3% expected – in fact below the lowest estimate – and worse even than last month’s downward revised -0.1% decline. And with that the worst run in retail sales since Lehman is now in the record books.
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The Militarization Of France Is Not Temporary: ‘10,000 Troops To Remain On The Streets’
– The Militarization Of France Is Not Temporary: “10,000 Troops To Remain On The Streets” (ZeroHedge, March 11, 2015):
Who could have seen this coming? The French government, having deployed military to its streets during the attacks by Islamic extremists last month, has – just as every other government in the world in the new normal – decided that this temporary militarization of French streets is now permanent. As RT reports, President Hollande has decided to “maintain the level of the army on the national territory at 10,000 troops,” with a total of 7,000 troops monitoring (and protecting) religious buildings.
As the threat of attacks by Islamist extremists remains high in France, President Francois Hollande has decided to continue the deployment of 10,000 troops on the streets across the country.
“The threat of terrorist attack against our country remains high. The head of state has decided to maintain the level of the army on the national territory at 10,000 troops in support of security forces from the Interior Ministry,” Hollande’s office said in a statement after a meeting of senior ministers, AFP reported.
Read moreThe Militarization Of France Is Not Temporary: ‘10,000 Troops To Remain On The Streets’
Plunge Protection Exposed: Bank Of Japan Stepped In A Stunning 143 Times To Buy Stocks, Prevent Drop
– Plunge Protection Exposed: Bank Of Japan Stepped In A Stunning 143 Times To Buy Stocks, Prevent Drop (ZeroHedge, March 11, 2015):
Since 2010, The Bank of Japan has ‘openly’ – no conspiracy theory here – been a buyer of Japanese stock ETFs. Their bravado increased as the years passed and Abe pressured them from their independence to ‘show’ that his policies were working to the point that in September 2014, The BoJ bought a record amount of Japanese stock ETFs taking its holdings to over 1.5% of the entire market cap, surpassing Nippon Life as the largest individual holder of Japanese stocks. However, as WSJ reports,The BoJ has now gone full intervention-tard – buying Japanese stocks on 76% of the days when the market opened lower.
As The Wall Street Journal reports,
The Bank of Japan’s aggressive purchasing of stock funds has helped Japanese shares climb to multiyear highs in recent months. But some within the central bank are growing uncomfortable about the fast-paced rally and the bank’s own role in fueling it.
Video emerges of Ferguson cops shooting (Warning: Strong language)
– Video emerges of Ferguson cops shooting (Warning: Strong language) (RT, March 12, 2015):
An amateur video has emerged online showing exactly the moment two policemen were shot during a rally near Ferguson police department.
The video is a low-resolution one and is more about what one can hear than what one can see.
Sounds of gunfire are distinctly heard, followed by loud screams as well as the groaning of a man who was hit.
Ferguson police station is seen and people running away in panic.
Read moreVideo emerges of Ferguson cops shooting (Warning: Strong language)
US To Send Drones, Humvees To Ukraine, Boost Russia Sanctions As Moscow May ‘Deploy Nuclear Weapons In Crimea’
– US To Send Drones, Humvees To Ukraine, Boost Russia Sanctions As Moscow May “Deploy Nuclear Weapons In Crimea” (ZeroHedge, March 11, 2015):
So much for the second Minsk ceasefire. A few hours ago, the US returned to its strategy of escalating Russian “costs” when it placed sanctions on eight Ukrainian separatists and a Russian bank, warning that recent attacks by rebels armed by Russia violated a European-brokered ceasefire in the war-torn country. The Russian response to the latest sanction pending, but the response may have been hinted at earlier today when an official from Russia’s Foreign Ministery said the nation has the right to deploy nuclear arms in the Black Sea peninsula of Crimea. And finally, indicating that the semi-hot escalation between the US and Russia is close to getting out of control, Vice President Biden told Ukraine’s president Wednesday the U.S. will send more aid to the country, which U.S. officials said will include small drones and armored Humvees.
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– US to send more drones, Humvees to Ukraine (RT, March 11, 2015):
Secretary of State John Kerry confirmed US was to send Ukraine more non-lethal military aid, including drones and armored Humvees.
“We are today providing immediately some 75 million dollars of additional non-lethal assistance, immediately, to Ukraine in order to help them in non-lethal assistance,” Kerry told the Senate on Wednesday afternoon during a hearing concerning a proposed war powers act offered by the White House. “And, as you know, other things are currently under consideration.”
The aid has been discussed on the phone by Vice President Joe Biden and Ukrainian President Petro Poroshenkoduring a phone call, according to US officials, AP reported.
Beijing, You Have A Big Problem – In Ten Charts
– Beijing, You Have A Big Problem – In Ten Charts (ZeroHedge, March 12, 2015)
GMO Maize Transgenes Penetrate Small Farmers Seed Supplies in South Africa
‘Mission accomplished’ for the ‘Big 6’ pesticide and GMO corporations (BASF, Bayer, Dupont, Dow Chemical Company, Monsanto, and Syngenta).
– GM Maize Transgenes Penetrate Small Farmers Seed Supplies in South Africa (Sustainable Pulse. March 11, 2015):
A first study of its kind has found that GM maize transgenes have penetrated the informal seed supplies of smallholder farmers in the Eastern Cape, South Africa. The study screened for transgenes in external fields, home gardens and local household seed holdings in a village where GM insect-resistant maize had been previously grown from 2001–2008 and also analysed the seed management practices of farmers there.
Genetically modified (GM) crops were introduced in South Africa in 1997. By 2013, South Africa had 2.3 million hectares of GM crops under cultivation, 78% of which was insect-resistant and/or herbicide-tolerant maize.
Read moreGMO Maize Transgenes Penetrate Small Farmers Seed Supplies in South Africa
China’s Latest Spinning Plate: 10 Trillion In Local Government Debt
– China’s Latest Spinning Plate: 10 Trillion In Local Government Debt (ZeroHedge, March 11, 2015)
China is in the midst of attempting to help local governments refinance a mountain of debt, some of which was accumulated off balance sheet via shadow banking conduits at relatively high rates. According to UBS, “Chinese domestic media are saying that the authorities are considering a Chinese “QE” with the central bank funding the purchase of RMB 10 trillion in local government debt.”
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UN Torture Investigator Calls For Access To US Prisons, Gitmo Detainees
– UN torture investigator calls for access to US prisons, Gitmo detainees (RT, March 11, 2015):
The United Nations special rapporteur on torture lambasted the United States for continually obstructing his requests to visit prisons where 80,000 people sit in solitary confinement and to freely speak with inmates at Guantanamo Bay.
Juan E. Méndez said Wednesday that he has attempted for more than two years to visit and check conditions at American prisons, including some of the nation’s most notorious maximum security facilities. He added that UN human rights officials have asked for access to Guantanamo prisoners since 2004.
“On the federal level, I want to go to ADX in Florence, Colorado and to the Manhattan Correctional Center,” Méndez said during a news briefing, Reuters reported.
“Those are where people accused of terrorism are taken or where they serve their term.”
Read moreUN Torture Investigator Calls For Access To US Prisons, Gitmo Detainees
US Import Prices Plunge 9.4%, Most Since Lehman
– US Import Prices Plunge 9.4%, Most Since Lehman (ZeroHedge, March 12, 2015):
February Import Prices to the US droped 9.4% YoY – the biggest drop since the month after Lehman’s bankruptcy i 2008. January’s drop was also revised lower. The YoY drop is dominated by a 43.2% drop in petroleum prices (but MoM in Feb petroleum prices jumped 8.1%). Ex-fuel, import prices fell 1.2% YoY as the price of imported capital goods fell the most since March 2009.
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IMF Approves $17.5 BILLION Bailout Package For Ukraine – ‘New IMF Loan To Ukraine Will Go Down The Drain’
– ‘New IMF loan to Ukraine will go down the drain’ (RT, March 11, 2015):
President Poroshenko’s government is far more corrupt and less efficient than the previous one, according to Martin Sieff, columnist for the Baltimore Post-Examiner. It’s like a black hole, the more money you pour in the less you will have, he added.
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– IMF approves $17.5bn bailout package for Ukraine (RT, March 11, 2015):
The International Monetary Fund (IMF) board of directors signed off on Ukraine’s new $17.5 billion package of financial aid Wednesday, IMF chief Christine Lagarde has announced.
Lagarde however did not provide details on how large an initial payment will be made to Ukraine or on what timetable.
“This new four-year extended arrangement will support immediate economic stabilization in Ukraine,” she said.
The first immediate payment from the IMF will consist of $5 billion, Ukrainian Prime Minister Arseny Yatsenyuk announced at a cabinet meeting on Wednesday, RBC Ukraine reported. He also said the newly approved financial help would allow Ukraine to receive $7.5 billion in other loans.
Drugs, Prostitution, Violence Plague Oil Boom Towns Gone Bust – If You’re An Oil Worker Who Lives Here, Move!
FYI.
– Drugs, Prostitution, Violence Plague Oil Boom Towns Gone Bust (ZeroHedge, March 11, 2015):
Collapsing crude prices have left America’s oil boom towns cash-strapped in the face of double-digit population growth and increased levels of drug trafficking and violent crime. As local governments struggle to cope, a prolonged slump for oil could imperil the stability of many once quiet communities.
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– If You’re An Oil Worker Who Lives Here, Move! (ZeroHedge, March 11, 2015):
As crude prices drop back to cycle lows, breaking the back of the stability-meme, we thought a quick reminder of the world’s major energy projects that are completely FUBAR given the current prices, record production, and record inventories…
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This Is What A World Addicted To Debt Looks Like
Click image for interactive version
– This Is What A World Addicted To Debt Looks Like (ZeroHedge, March 11, 2015):
As we spelled out explicitly and succinctly late last month, there is one overriding and extremely simple reason why seemingly every central bank in the developed world is bound and determined to move heaven and earth in the pursuit of generating a “healthy” level of inflation. With 9 countries sitting on debt-to-GDP ratios of 300%+, it’s either inflate the debt away or be crushed under the sheer weight of it.
Below is a map showing just where all of the red ink is concentrated and as The Telegraph notes, “not one developed economy (and only five emerging markets) has managed to reduce debt-to-GDP ratios which include both household and government debt. When taken together, this total debt mountain has grown by $57 trillion since 2007, far outpacing global growth.”
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Bank Of Korea Unexpectedly Cuts Interest Rate To Record Low 1.75%, 24th Central Bank To Ease In 2015
– Bank Of Korea Unexpectedly Cuts Interest Rate To Record Low 1.75%, 24th Central Bank To Ease In 2015 (ZeroHedge, March 11, 2015):
The currency war salvos just keep on coming. Moments ago the BOK unexpectedly (the move was predicted by just 2 of 17 economists polled by Bloomberg) cut its policy rate from 2.00% to a record low 1.75%, in what is clearly a full-blown retaliation against the collapse currency of its biggest export competitor, Japan, whose currency has cratered to a level that many in South Korea believe has become a direct subsidy for its competing exports. As such the only question is why the BOK didn’t cut earlier. And following the surprise rate cut by Thailand earlier today, the “surprise” South Korean rate cut means there are now 24 easing policy actions by central banks in 2015 alone.
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Visualizing The American Water Crisis
– Visualizing The American Water Crisis (ZeroHedge, March 11, 2015)
(SELLOUT) Tsipras Slams ‘Crimes Of Third Reich And Hitler’s Hordes’, Threatens Seizure Of German Assets
– Tsipras Slams “Crimes Of Third Reich And Hitler’s Hordes”, Threatens Seizure Of German Assets (ZeroHedge, March 11, 2015):
Earlier today, despite fears that it may not find enough cash to fund its latest T-Bill rollover, Greece was able to sell €1.3 billion of three-month Treasury bills, covering the amount it wanted to refinance a maturing issue, in what Reuters dubbed was an “auction that tested its ability to raise funds amid a cash crunch.” The paper came at a higher cost as the T-bills were priced to yield 2.70 percent, up 20 basis points from 2.50 percent in a previous sale in February, the country’s debt agency PDMA said.
However, this latest funding appears to have brought Greek funds to a critical low level because roughly at the same time news broke that Greek Justice Minister Nikos Paraskevopoulos said he is ready to sign an older court ruling that will enable the foreclosure of German assets in Greece in order to compensate the relatives of victims of Nazi crimes during the Second World War.
China Reports Worst Industrial Production Data Ever Outside Of The Global Financial Crisis
– China Reports Worst Industrial Production Data Ever Outside Of The Global Financial Crisis (ZeroHedge, March 11, 2015):
Activity data for the combined January-February period (the NBS releases these two months together given the difficulty of adjusting for Chinese New Year effects) was significantly weaker than expected across IP, FAI, and retail sales. For overall industrial production, this was the weakest year-over-year reading ever (China’s IP data starts from 1995) outside the global financial crisis.
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WTF: Venezuela Begins Liquidating Its Gold
From the article:
“Reuters reported that Venezuela’s central bank is in talks with Wall Street banks to create a gold swap that would allow it to monetize some $1.5 billion of the metal held as international reserves, according to government sources familiar with the operation.”
If true, then you know now who really is in control in Venezuela.
– Venezuela Begins Liquidating Its Gold (ZeroHedge, March 11, 2015):
Yesterday we reported that in retaliation to the latest Obama executive order which declared Venezuela a national security threat and ordered sanctions against seven officials, Maduro promptly took advantage of this “outside threat” to rally his toilet paper-starved population “around the flag”, and while pointing at the “evil imperialist” Obama, granted himself even greater authoritarian powers: “I have put together a special law that gives me special powers to preserve the peace, the integrity and the sovereignty of the country before any situation that presents itself due to this imperialist aggression.“
Russia ‘completely ending’ activities under Conventional Armed Forces in Europe treaty
– Russia ‘completely ending’ activities under Conventional Armed Forces in Europe treaty (RT, March 10, 2015):
Moscow has announced it is “completely” ending activities under the Treaty on Conventional Armed Forces in Europe (CFE). Russia’s participation in the treaty was first halted in 2007.
“The Russian Federation has taken the decision to halt its participation in meetings of the [consulting group] from March 11, 2015. Therefore, Russia is ending its actions in the Treaty on Conventional Armed Forces in Europe, announced in 2007, completely,” a statement from the Foreign Ministry said.
Read moreRussia ‘completely ending’ activities under Conventional Armed Forces in Europe treaty