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Euro Area Inflation Unexpectedly Misses Despite Sliding Unemployment

November 30, 2017 Tyler Durden 0

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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Hungary’s Ruling Party Hands Out Book Targeting George Soros

November 30, 2017 Tyler Durden 0

Authored by Jacob Bojesson via The Daily Caller,

Hungary’s ruling party is stepping up its campaign against billionaire investor George Soros by distributing a book that accuses the financier of pursuing a plan to flood Europe with migrants.

The book, titled “George Soros,” is written by Andreas von Rétyi – a German author known for pushing conspiracy theories about UFOs and what caused the Sept. 11, 2001 terror attacks on the U.S.

 

Fidesz, a conservative party led by Prime Minister Viktor Orban, plans to distribute 5,000 copies to local politicians across the country.

 

“The book is a detailed and accurate piece,” Fidesz spokesman János Halász told broadcaster RTL Klub, according to newspaper Die Welt.

The Orban administration launched an anti-Soros campaign in the spring to halt the Hungarian-born investor’s operations in the country.

The streets of Budapest were filled with posters and billboards of the Hungarian-born billionaire with the caption “Don’t let Soros get the last laugh!”

Hungarian government poster portraying financier George Soros and saying “Don’t let George Soros have the last laugh” is seen at an underground stop in Budapest.

The campaign claims that Soros wants a 1 million refugee influx to Europe per year.

“The Hungarian standpoint is that illegal migration is clearly a matter of national security,” Orban’s spokesman, Zoltan Kovacs, told The Daily Caller News Foundation in a recent interview.

 

“We shall mobilize the political and legal power of the Hungarian state against anyone who undermines the security of Hungary – regardless of their origins, religious affiliation or wealth.”

Soros struck back at Orban by describing his “mafia state” as “one which maintains a facade of democracy.”

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Killer Millennials: The Era Of Destruction Has Started

November 30, 2017 Tyler Durden 0

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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How A North Korean EMP Attack Could Kill Millions And Turn America Into A Post-Apocalyptic Wasteland

November 30, 2017 Tyler Durden 0

Authored by Michael Snyder via The Economic Collapse blog,
This is why North Korea’s test of an intercontinental ballistic missile is so important.  North Korea had test fired a total of 22 missiles so far this year, but this latest one show…

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Nervous About Traffic Stops? I Am. You Should Be, Too

November 30, 2017 Tyler Durden 0

Authored by John Whitehead via The Rutherford Institute,
We’ve all been there before.
You’re driving along and you see a pair of flashing blue lights in your rearview mirror. Whether or not you’ve done anything wrong, you get a sinkin…

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

November 30, 2017 Tyler Durden 0

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”

November 30, 2017 Tyler Durden 0

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

November 30, 2017 Tyler Durden 0

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

November 30, 2017 Tyler Durden 0

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

November 30, 2017 Tyler Durden 0

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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