zerohedge.com / by Tyler Durden / Oct 25, 2016 6:10 PM
For the first time since 2012, the Richmond Fed business surveyr has been in contraction (below 0) for 3 straight months (and 4 of the last 5). Worse still, the six-month average of the business survey has not deteriorated this fast since Q2 2008. While the underlying components were mixed, inventory levels dropped (bad for GDP), average workweek tumbled (bad for incomes), and new orders re-plunged.
This is the worst drop in the six-month average of the Richmond Fed survey since Q2 2008…
FinanceAndLiberty.com, Published on Oct 25, 2016
thedailysheeple.com / by Carey Wedler,
Editor’s Note: Wedler writes, “If you want the ‘war on police’ to end, you’re in luck…” Yeah, considering there was never a war on cops to begin with.
“The war on our police must end,” Donald Trump forcefully demandedduring a speech in Wisconsin in August. “It must end now.”
This sentiment is often parroted by right-wing outlets and savored by cop-loving Americans who should (according to what’s left of their ideological principles) harbor the utmost skepticism toward institutions of government.
Yet no matter how many times the mythical war on cops is refuted, the perception of a brutal war on police officers persists, especially in light of recent, highly-publicized attacks on law enforcement this summer — the ultimately predictable result of repeated instances in which citizens, often minorities, were unnecessarily killed by police officers.
But according to the FBI’s most recent installment of its annual “Law Enforcement Officers Killed and Assaulted” report, the paranoid trope of a war on cops is entirely unfounded. So unfounded, in fact, that more police officers died by accident than were killed as a result of “felonious” behavior, as the FBI calls it.
In 2015, the latest year for which the FBI has analyzed data, 41 police officers died as a result of the felonious actions of others. Forty-five died in accidents — 40 of which were attributable to traffic and/or automobile-related incidents.
zerohedge.com / by Duane via Free Market Shooter blog / Oct 25, 2016 5:20 PM
Someone close to me, who is voting for Hillary, sent me this article recently, thinking it did a great job of characterizing Trump voters as real people. And I was so mortified and incensed reading it, that I felt it necessary to respond with my own thoughts on this election, and who I will be voting for.
The article is a perfect example of virtue signaling as it relates to this election. Nowhere in the article does John Biggs, the author, indicate that he has actually spoken with any Trump voter who actually has anything positive to say about Trump himself or his proposed policies. Instead, the quotes are merely meant to symbolize angry conservatives who are voting against Hillary moreso than they are voting for Trump. It seems this Ohio native turned Brooklyn hipster has taken but one glance at the odds and surmised that since he believes Hillary is going to win, and since he has such a large following, it is his duty to begin reaching out to Trump voters to bridge the partisan divide. It seems as if he wants to unite everyone under a nation of corruption and crime for the leaders, but not for the general population. Seeing as how I regularly communicate with Trump voters, I felt it my duty to respond, and will preserve the anonymity of my contributors by speaking through my own voice.
However, it is important to give some background on myself, my voting record, and who I will be voting for. Since I have been eligible to vote, I have voted for the Libertarian candidate for President. I am firmly convinced that the differences between the two parties are merely superficial, as they are both committed to deficit spending, endless wars, welfare handouts, and corporate bailouts/kickbacks, which are the real issues plaguing the country today. Most recently, in 2012, I voted for Gary Johnson, as I was very impressed with his campaign and platform. At the time, Charlie at Single Dude Travel did an excellent job of characterizing what it means to vote for a third party, and not be a part of the two-party scam:
wolfstreet.com / by James Murray •
The candidates in the current campaign – or any campaign – are all promising to “bring back good jobs” to “create good jobs.” When asked how they would do that, they are all a little light on details.
About a year ago, Joe Biden was in Michigan to celebrate the opening of a new manufacturing plant that made “small metal clamps” used in all kinds of industries to hold wiring, hoses. Etc. in place. The largest market is the auto industry but they are sold to hundreds of other manufacturers. Depending on size, shape, and material, these parts sell for a few pennies or less. You have to make a lot of these parts to have any substantial billing numbers.
This new plant is fully automated and runs 24/7/365 with just 14 people. Joe was quite happy saying “manufacturing is returning to America.”
However, there is a backstory. That plant had been around for years. It had employed 600 people on two shifts. Then, the Chinese began to undercut the pricing, and the plant was no longer profitable and closed. Two years later, it reopened as a fully automated plant and regained the business because it could now manufacture cheaper than the Chinese.
There are several stories inside the main story.
X22Report, Published on Oct 25, 2016
The entire government is run by the shadow government, a government inside a government. Venezulan President could be impeached. Duderte is looking to block access to US bases in the Phillipines. US in the planning stages of having a regime change in the Phillipines. Kiev continually bombing the Donbass area preparing for a major offensive. US flew a C-130 into a newly built US airfield in Iraq. Russia says US has not followed through on its promise to separate the moderate rebels from a year ago. Obama says he doesn’t know who did the DDOS cyber attack in the northeast. Clapper says it could be a non-state actor but not ruling out the possibility of a state actor.
zerohedge.com / by Alexander Mercouris via TheDuran.com / Oct 25, 2016 6:30 PM
Russia reveals photos of a new highly advanced liquid fuelled heavy ICBM capable of evading anti-missile defences and hitting US territory with 10 tonne nuclear payload.
The Makeyev Design Bureau – the designer of Russia’s heavy liquid fuelled Intercontinental Ballistic Missiles (“ICBMs”) – ie. of missiles capable of reaching US territory from Russian territory, has published the first picture of Russia’s new heavy Sarmat ICBM which is due to enter service shortly, probably in 2018.
The picture is accompanied by a short statement which reads
news.goldseek.com / Visual Capitalist / 25 October 2016
For better or worse, that statement applies to the financial world as well. It is said today that 75% of all financial market volume is automated, though there are lower and higher estimates out there depending on the report.
The bottom line is that algorithmic trading is the dominant market player – and this has benefits and drawbacks for average investors. On the upside, markets are less volatile and presumably more rational because they are driven by computers instead of fallible humans.
On the other hand? Sometimes algos just go rogue and do something unpredictable.
When the British pound flash crashed earlier this month, it was exactly this latter thing that happened.
Explaining the October Flash Crash in the British Pound
The following infographic from Top 10 Forex VPS shares a play-by-play breakdown of how the British pound crashed a whopping 8% in just two minutes.
It’s interesting because it helps give a sense of how the piping works behind these trading algorithms. It’s also a cautionary tale of algos gone wild, showing how market momentum can be swung in a particular direction even without your average market participants being involved.
gata.org / By John Tilak and Nicole Mordant, Reuters / October 25, 2016
China’s Zijin Mining Group Co. Ltd. and Shandong Gold Mining Co. Ltd. have held separate talks with Barrick Gold Corp. to buy a 50-percent stake in its Veladero gold mine in Argentina, according to four sources with knowledge of the process.
Veladero is one of Barrick’s five core mines; all are in the Americas. It is expected to produce between 580,000 and 640,000 ounces of gold this year.
The high quality of the mine, production capacity, and the prospect for geographical diversification have appealed to the state-owned Chinese suitors, said three of the sources, who requested anonymity because the matter is private. All spoke over the past week. …
… For the remainder of the report:
zerohedge.com / by Tyler Durden / Oct 25, 2016 5:46 PM
After a torrid rally in Apple stock in the past three months that took its stock from under $100 some 20% higher, traders wondered how much more upside was left in the stocks, and if the surge could continue. And so, moments ago, Tim Cook tried hard to deliver, if not so much in the current quarter where revenue and ASPs missed, and EPS beat by just one penny, then certainly with his guidance for what the company expects in the year’s final quarter, however judging by the stock’s performance he failed. This was also the first time Apple posted an annual profit decline since 2001, as the two thirds of revenue it gets from the iPhone exposed it to waning smartphone demand.
“Our strong September quarter results cap a very successful fiscal 2016 for Apple,” said Tim Cook, Apple’s CEO. “We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 percent to set another all-time record.”
The numbers did not quite agree: for Q4, Apple reported Q4 revenue of $46.9 billion, which declined 9% Y/Y and which was also below the consensus estimate of $47 billion in the quarter in which the new iPhone was introduced, with the company selling 45.5 million iPhones in the quarter, down 5% Y/Y but above the 45 million expected. Earnings of $9 billion declined 19% Y/Y from the $11.1 billion reported a year ago.
Check out this problem-reaction-solution bit.
Musk claims that, because artificial intelligence is coming, we have two choices. We either make ourselves symbiotically mandatory to the AI or we will basically be destroyed (or end up as pets, but he says that’s the “benign scenario”). Check out how he says we have to go about it…direct cortical interface. Sounds like every DARPA business proposal I’ve read lately. In another clip, Musk also says with AI, we are “unleashing the demon”.
Every sci-fi movie we’ve ever seen is apparently coming true right now…
21stcenturywire.com / BY
In the wake of the distributed denial of service (DDoS) attacks that targeted many online companies and news agencies last week such as Amazon, Netflix, CNN and The New York Times, we learned that the threat intelligence firm Flashpoint assumed the lead public relations role in the media after the event – just as they did following the highly suspicious Pulse Nightclub shooting in Orlando this past the summer.
Later in this report, we’ll focus our attention on the uncanny ties between the firm Flashpoint, theOrlando Shooting and the massive internet related outage this past week.
But first things first, let’s review elements of the recent DDoS attack in America…
On October 21st, the technology blog Engadget discussed the cyber attacks that led to an internet outage across America and other parts of the world:
“Today’s nation-wide internet outage was enabled thanks to a Mirai botnet that hacked into connected home devices, according to security intelligence company Flashpoint. The distributed denial of service attack targeted Dyn, a large domain name server, and took down Twitter, Spotify, Reddit, The New York Times, Pinterest, PayPal and other major websites.
zerohedge.com / by Tyler Durden / Oct 25, 2016 5:45 PM
Trump took his most aggressive foreign policy shots yet at Hillary Clinton at an interview earlier today from his Trump National Doral golf resort in Florida, saying that her policies on Syria would inevitably lead to World War III. Not pulling any punches, Trump also referenced his frequent attack against Hillary that she’s “all talk”, saying that her plan would engage Russia which “is a nuclear country, but a country where the nukes work as opposed to other countries that talk.”
theeconomiccollapseblog.com / By Michael Snyder on October 25th, 2016
Is the 2016 election in the process of being stolen? Just a few weeks ago I issued a major alert warning that this exact sort of thing might happen. Early voting has already begun in many states, and a number of voters in Texas are reporting that the voting machines switched their votes from Donald Trump to Hillary Clinton. The odd thing is that none of the other choices were affected when these individuals attempted to vote for a straight Republican ticket. If Hillary Clinton is declared the winner of the state of Texas on election night, a full investigation of these voting machines should be conducted, because there is no way that Donald Trump should lose that state. I have said that it will be the greatest miracle in U.S. political history if Donald Trump wins this election, but without the state of Texas Donald Trump has exactly zero chance of winning. So those living down in Texas need to keep reporting anything unusual that they see or hear when they go to vote.
Most Americans don’t realize this, but the exact same thing was happening during the last presidential election. The state of Ohio was considered to be the key to Mitt Romney’s chances of winning in 2012, and right up to election day the Romney campaign actually believed that they were going to win the state.
Unfortunately for Romney, something funny was going on with the voting machines. In a previous article, I included a quote from an Ohio voter that had her vote switched from Mitt Romney to Barack Obama three times…
zerohedge.com / by Tyler Durden / Oct 25, 2016 4:44 PM
Having closed below $50 for the first time in 3 weeks, WTI Crude extended its losses to 3 week lows after API reported crude inventories rose by a bigger than expected 4.8mm barrels (more than double the 2mm expectation).
Crude inventories have drawn down for 6 of the last 7 weeks but rose notably this last week. Cushing inventories drewdown by the most since Feb 2014 (we suspect the spillage was the driver) and distillates inventories drew down for the 5th straight week).Gasoline inventories built notably despite expectaions of a sizable draw.
X22Report, Published on Oct 25, 2016
Consumer confidence continues to decline. Twitter will be laying off 8% of its workforce. Credit card deliquencies are on the rise. According to Case Shiller, home prices have it the highs of 2006. Shadow banking is back and this time it is not going to end well. People are now closing their accounts at Well Fargo because of their illegal activity. It is confirmed Obamacare premiums will rise over 25%.
OCT 25/GOLD STANDING FOR DELIVERY IN OCT INCHES CLOSER AND CLOSER TO 30 TONNES/GLD ADDS 3.27 TONNES TO ITS INVENTORY/THE BRITISH POUND HAS ANOTHER FLASH CRASH TODAY/WIKILEAKS EXPOSES A COVER UP WITH CLINTON AND HER GANG/USA SET TO SEIZE ASSETS OF VENEZUELA’S STATE OWNED OIL COMPANY/USA CONSUMER CONFIDENCE FALTERS AGAIN/
harveyorganblog.com / by
Gold $1271.90 up $9.90
Silver 17.74 UP 18 cents
In the access market 5:15 pm
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON
The Shanghai fix is at 10:15 pm est and 2:15 am est
The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.
And now the fix recordings:
Shanghai morning fix OCT 25 (10:15 pm est last night): $ 1267.47
NY ACCESS PRICE: $1264.50 (AT THE EXACT SAME TIME)
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1272.13
NY ACCESS PRICE: 1267.00 (AT THE EXACT SAME TIME)
HUGE SPREAD TODAY!! 5 dollars
London Fix: OCT 25: 5:30 am est: $1269.30 (NY: same time: $1268.90: 5:30AM)
London Second fix OCT 24: 10 am est: $1267.40 (NY same time: $1267.60 , 10 AM)
Shanghai premium in silver over NY: 70 cents.
It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.
Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.
zerohedge.com / by Tyler Durden / Oct 25, 2016 2:34 PM
In the past two quarters, AAPL found itself in an unfamiliar position. The world’s largest company by market, has been – over the past few years – also the biggest contributor to S&P500 and tech sector earnings, and as long as AAPL’s earnings were rising every quarter, this was not a problem. However, starting in Q4 of 2015, Apple found itself in the unenviable position of posting earnings which declined from a year ago. The drop was so acute in Q1 and Q2 that, AAPL alone was responsible for pushing the entire tech sector into the red on a Y/Y basis.
Which brings us to today’s upcoming AAPL earnings announcement, where according to consensus, AAPL is set to report a 3rd straight quarter of annual earnings declines. According to FactSet, for the calendar third quarter (fiscal fourth quarter for Apple), the current mean EPS estimate is $1.66, compared to year-ago actual EPS of $1.96.The last time Apple reported three consecutive quarters of year-over-year earnings declines was Q1 2013 through Q3 2013 (fiscal Q2 2013 through Q4 2013 for Apple).
What may come as a surprise to readers, is that as a result of this projected decline in EPS, Apple is expected to be the largest detractor to expected earnings growth for the S&P 500 Information Technology sector for Q3 2016. The blended (combines actual results for companies that have reported and estimated results for companies yet to report) earnings growth rate for the Information Technology sector is 4.2%. Excluding Apple, the blended earnings growth rate for the sector would improve to 10.9%.
thedailysheeple.com / by Alex Pietrowski via
The most important ecological crisis of the world has ever seen has been underway since March 11th, 2011, yet there is nary a mention of it in the corporate media, and no political body in the world is championing its resolution.
Widespread Denial and Willful Ignorance
The media, politicians and the world at large seem to be engaging in extreme denial regarding Fukushima. A survey of mainstream media coverage of the fallout of this event reveals the trend of covering this story as a human interest affair, not as the immediate threat it truly is.
The effects on nature are already being seen, yet even among the environmentalist factions of media, there is strong denial of the damage already done and of what is to come as the crisis approaches its sixth year. Some 300 tons of radioactive water are dumped into the Pacific Ocean each day, and signs are showing that this catastrophe is gravely affecting sea-life and wildlife in and around the Pacific.
wallstreetexaminer.com / by RabidRabbit via Confounded Interest /
According to the S&P/CoreLogic/Case-Shiller home price index, US home prices are back to the peak of the housing bubble (2006). Of course, home prices had a little help from their friends at The Federal Reserve with their zero interest policies and balance sheet expansion.
zerohedge.com / by Tyler Durden / Oct 25, 2016 2:15 PM
It should come as no great surprise to anyone that Silicon Valley’s tech billionaires are “in the tank” for Hillary. That said, emails like the one below from Facebook’s Chief Operating Officer, Sheryl Sandberg, will never cease to be shocking, particularly because she oversees the operations of a social media giant that wields incredible power and influence over news media presented to America’s young voters.
Of course, the “cozy” relationship between Sandberg and Podesta is even more disturbing in light of the fact thatformer new curators for Facebook admitted that the company routinely suppressed conservative news on its news feed. Per a previous post we wrote back in June:
jessescrossroadscafe.blogspot.com / 25 OCTOBER 2016
The US dollar popped a bit higher today but then gave it all back in the afternoon.
That helped the precious metals denominated in the buckeroo a bit.
Gold managed to stick a close over 1270. Another 20 points or so higher would be better still.
Silver was tagging along for the ride. This is not a particularly active month for silver.
There was another disgorgement of their house gold position by Macquarie yesterday. I have not gone back and added them all up, both the buys and the sells, but it looks from an eyeball estimate that they have been getting beaten up over that very public position they had taken, and have already given the greater part of it back.
thecommonsenseshow.com / By Dave Hodges / October 25th, 2016
Bill Clinton gave America its absolute worst 3 pieces of legislation during his Presidency. Darling Hillary is following in his footsteps only she is more ruthless. What am I talking about? It is all contained in this short video.
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