Economic Collapse

Japan Admits It Has Entered A Triple-Dip Recession

Zero Hedge On Sunday we warned it would happen. Well, it happened. From Goldman Sachs: The Indexes of Business Conditions comprises leading, coincident, and lagging composite indices compiled from various economic statistics and market indicators. Since the components are already announced in advance, the composite indices come as no surprise…
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Labor Participation Rate Drops To 36 Year Low; Record 92.6 Million Americans Not In Labor Force

Zero Hedge While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager , the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in…
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Economic Collapse

Goldman Global Leading Indicator Drastically Revised, Collapses Into “Confirmed Slowdown”

Zero Hedge Just 2 short weeks ago, Goldman nervously admitted that possibly perhaps maybe their Global Leading Indicator was indicating a "slowdown" was coming, but remained hopeful that the rest of the month would see data pick up and prove them wrong. Now that the final data has been released…
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Debt Slavery

Another Conspiracy Theory Becomes Fact: The Fed’s “Stealth Bailout” Of Foreign Banks Goes Mainstream

Zero Hedge Back in June 2011, Zero Hedge first posted: "Exclusive: The Fed's $600 Billion Stealth Bailout Of Foreign Banks Continues At The Expense Of The Domestic Economy, Or Explaining Where All The QE2 Money Went" which we followed up on various occasions, most notably with "How The Fed's Latest…
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Financial Markets

High-Yield Credit’s Worst Week In 15 Months Sends Stocks Sliding

Zero Hedge This week's 35bps rise in high-yield credit spreads (or ~10%) is the worst since at least June of last year and anxiety spread through other asset-classes appropriately as cheap-buyback-funding and liquidity concerns weighed on all equities - most aggressively small caps. The Russell 2000 is down around 4%…
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Bankers

How Goldman Controls The New York Fed: 47.5 Hours Of “The Secret Goldman Sachs Tapes” Explain

Zero Hedge When nearly a year ago we reported about the case of "Goldman whistleblower" at the NY Fed, Carmen Segarra, who alleged she was wrongfully terminated after she flagged "numerous conflicts of interest and breaches of client ethics that she believed warranted a downgrade of Goldman's regulatory rating" and…
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Commodities

Dropping Prices, Supply Glut Sends Oil Into Storage At Sea

By Nick Cunningham, There is so much surplus oil sloshing around right now, some of it is being stored on tankers at sea. In the United States, a lack of infrastructure, the ban on exports, and a surge in production, coupled with tepid demand, has caused a glut, and prices declined by…
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Economic Collapse

Global Trade Collapses: One Of World’s Largest Logistics Companies Slashes Forecast; Blames Europe, US Trade

Zero Hedge Listening to the iPhone and Alibaba infotainment channel, the name TNT Express has been mentioned exactly zero times today. For those who are unaware, Dutch TNT Express, which UPS tried to acquire in 2012, is one of the world's largest logistics companies competing with UPS, FDX and DHL.…
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US News

Welcome To The Oligarchy – US Leads The Developed World In Low Wage Jobs

Liberty Blitzkrieg blog By Mike Krieger, In an apparent attempt to advise investors on how they can take advantage of America’s transformation into a neo-feudal oligarchy in a 50-page research report, Morgan Stanley has put together some very interesting We will be sharing many of them in the next few…
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Economic Collapse

Global Leading Indicator Plunges To Economic “Slowdown”, Goldman Warns

Zero Hedge Just two short months ago, Goldman Sachs was exuberant over the 'expansion' signals that the firm's Global Leading Indicator Swirlogram was exhibiting as it confirmed their 'economists' expectations that the Keynesian hockey-stick of hope would once again re-appear majestically in H2 2014 and lift America (and the world)…
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Economic Collapse

US Industrial Production Follows China; Misses With Biggest Drop Since Jan

Zero Hedge But but the survey all said record Yet another piece of hard data hits the tape and disappoints. While Fed surveys point to an exuberant economy, Industrial Production fell in August (missing + expectations) for its worst print since January's "weather"-related plunge. This comes on the heels of…
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Debt Slavery

U.S. National Debt Surges $1 Trillion In Just 12 Months … Meanwhile FOMC “Tweaks” Wording

The financial position continues to deteriorate badly and in the last 12 months has increased by over $1 trillion dollars. Nick Laird of Sharelynx has just reproduced his fascinating and timely chart showing the US debt limit, the actual US debt and the gold price all in one chart. From…
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Gold and Silver

Gold Tumbles To 2014 Lows As China Unveils Anti-Rigging Benchmark

Zero Hedge With a Fed hinting at exit strategies, gold has tumbled to 2014 lows (and almost in the red year-to-date) as traders apparently forget Japan, China, and European central banks continue to (or are set to) print more money into the global reflation trade. It appears that as the…
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Economic Collapse

Germany Issues 2Y Note At Record Low Yield Of -7bps

Zero Hedge Germany sold EUR billion 2-year notes to a desparate-for-collateral, safe-haven-seeking, ECB QE-front-running, deflation-pricing market (with exceptional demand - an elevated bid-to-cover) for a stunning an all-time record low yield issuance for Germany. We have nothing to   Zero Hedge
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INTERNATIONAL

Russia And Iran Put Oil-For-Goods Deals Into Motion As Iran Signals Similar Arrangements Coming With China

Goldcore Russia-Iran Oil-for-Goods Contracts Representatives of the Russian and Iranian governments met in Tehran yesterday for the 11th meeting of the Iran-Russian Trade Council, where details of a ground breaking oil-for-goods swap between the two heavily sanctioned countries were revealed. With both countries now sanctioned by the West, Russia and…
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Gold and Silver

China Holds “Gold Congress” – Positioning Itself As Global Gold Hub, “In China, Gold Is Money”

Goldcore China Gold Congress in Beijing The China Gold Congress is currently in full flight in Beijing. The three day Congress is China’s biggest gold industry event of the year, drawing in participants from across the Chinese and international gold sectors including central banks, mining companies, bullion banks and refiners.…
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Preparing To Asset-strip Local Governments? The Fed’s Bizarre New Rules

Ellen Brown, Blacklisted News In an inscrutable move that has alarmed state treasurers, the Federal Reserve, along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, just changed the liquidity requirements for the nation’s largest banks. Municipal bonds, long considered safe liquid investments, have…
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Debt Slavery

How The Fed “Mysteriously” Eliminated $7 Trillion In US Debt

Zero Hedge Anyone looking at the Federal Reserve's own data set, that provided with the generous "free" funding of the US taxpayer by way of the St. Louis Fed's FRED database, will notice something quite welcome, if magical: total US debt held by the public - that which is not…
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Bitcoin

Ebay’s PayPal Starts Accepting Bitcoin As ‘Apple Pay’ Unveiled

Zero Hedge On the day when Apple unveils "Apple Pay," enabling hackers to now get access not only to actor selfies but to their credit card numbers too; following smaller online retailers' lead - such as Overstock - the world's biggest marketplace, Ebay, has announced its PayPal unit will begin…
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Central Banks

A Historic First: Bank Of Japan Monetizes Debt At Negative Rates

Zero Hedge First, Europe infamously shifted to a NIRP and now Japan has begun NIRP monetization. As WSJ reports, Tuesday marked another milestone in the topsy-turvy world of monetary easing in Japan: The Bank of Japan bought short-term Japanese government debt at a negative yield for the first time. In…
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Currency

De-Dollarization Continues: China-Argentina Agree Currency Swap, Will Trade In Yuan

Zero Hedge It appears there is another nation on planet Earth that is becoming isolated. One by one, Russia and China appear to be finding allies willing to 'de-dollarize'; and the latest to join this trend is serial-defaulter Argentina. As Reuters reports, China and Argentina's central banks have agreed a…
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Economic Collapse

JPMorgan Stunner: “The Current Episode Of Excess Liquidity Is The Most Extreme Ever”

Zero Hedge Curious why everything is being bought in the aftermath of last week's ECB's unprecedented announcement, and both bonds and stocks are either at or just shy of record highs ignoring completely the worst US nonfarm payroll print of 2014? JPM's Nikolaos Panigirtzoglou explains why. From "The ECB's liquidity…
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Focus E

August Jobs Tumble To Only 142K, Lowest Monthly Print Of 2014 And Below Lowest Forecast; Unemployment Rate 6.1%

Zero Hedge So much for the latest recovery: with not a single analyst expecting a NFP print below 190K, the BLS just reported that August payrolls tumbled from a revised 212K to only 142K, which was not only below the lowest Wall Street estimate of 190K, but it was also…
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Debt Slavery

Foreign Ownership of U.S. Government Debt Passes $6 Trillion

CNS News For the first time in the nation’s history, foreign interests now own more than $6 trillion in government debt, according to the most recent Treasury Department report on major foreign holders of the debt, which includes the numbers through the end of June. As of the end of June, foreign…
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Bankers

France’s president replaces economy minister with “former” Rothschild Banker

Reuters President Francois Hollande replaced his maverick leftist economy minister with a former Rothschild partner on Tuesday, in a reshuffle intended to reconcile his efforts to revive the stagnant French economy with deficit-cutting orthodoxy. The shake-up is the latest episode in the wrangling across Europe about how much budgetary rigor…
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Central Banks

German Finance Minister Tells EU Leaders: Free Money Party’s Over

Zero Hedge Has Germany had enough? Hot on the heels of Mario Draghi's 'demands' that EU leaders undertake "structural reforms" to boost competitiveness and overcome the legacy of Europe's debt crisis, German Finance Minister Wolfgang Schaeuble unleashed perhaps the most worrisome statement tonight for all the free-money-party-goers - the music…
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Economic Collapse

The Nail In The Petrodollar Coffin: Gazprom Begins Accepting Payment For Oil In Ruble, Yuan

Zero Hedge Several months ago, when Russia announced the much anticipated "Holy Grail" energy deal with China, some were disappointed that despite this symbolic agreement meant to break the petrodollar's stranglehold on the rest of the world, neither Russia nor China announced payment terms to be in anything but dollars.…
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Bankers

48 suspicious banking deaths

Hang The Bankers Our advice is if JP Morgan offers you a job: politley decline. The list of top level bankers dying under suspicious circumstances has been growing rapidly in recent months. Whether these are genuine deaths or something more sinister one thing is for certain, banking is becoming one of the most dangerous industries to be involved in right…
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Debt Slavery

30 Facts That Prove The American Middle-Class Is Being Destroyed

Michael Snyder The Economic Collapse blog The 30 statistics that you are about to read prove beyond a shadow of a doubt that the middle class in America is being systematically ; Once upon a time, the United States had the largest and most prosperous middle class in the history…
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Dozens Of Flash-Crashes – Including AAPL – As BATS Breaks

Zero Hedge It was just Friday when a pithy Bob Pisani noted that investor confidence in markets is up because there have been no market malfunctions he spoke too soon. As Nanex's Eric Hunsader reports, an apparent malfunction at BATS-Y has caused dozens of flash including in AAPL.   #ALERT…
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Robotics

Burger-flipping robot could ‘completely obviate’ the need for human employees

Raw Story A robot that can make 360 burgers an hour could put many fast-food workers out of a job – exactly as its designers intended. Silicon Valley-based Momentum Machines developed the device, which is more like an assembly line than a humanoid robot, reported Singularity Hub. “Our device isn’t meant…
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Economic Collapse

Three Chart Alarm: The Fed Has Set-Up The Corporate Bond Market For A Big Fall

Contra Corner blog The three charts below , which appeared in the Wall Street Journal, are still another reminder that the Fed’s heedless fueling of the third financial bubble this century has done enormous damage to the internals of financial ; In this case, investors and savers being brutally punished by…
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Global Economy

SCO to admit new members: India, Pakistan, Iran and Mongolia

RUVR Draft documents on the procedure of the admission new members to the Shanghai Cooperation Organization have been adopted. This is one of the main outcomes of the meeting of the foreign ministers of Russia, China, Tajikistan, Kazakhstan, Uzbekistan and Kirgizstan held in Dushanbe on Thursday. The adoption of these…
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Debt Slavery

Portugal’s Insolvent Banco Espirito Santo To Be Bailed Out, Existing Equity To Be Wiped Out

Zero Hedge When a week ago, the third and final Banco Espirito Santo HoldCo went ... we knew it was only a matter of time. Sure enough, following Friday's record collapse in the stock price of Portugal's mega bank after even Goldman decided it had enough and pulled the plug…
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‘Glitch’ Halts All ATM & Online Operations For World’s 2nd Largest Bank

Zero Hedge China Construction Bank, China's (and the world's) 2nd largest of the Big Four, and intimately connected to the CCFD ponzis, has suspended all ATM, online, and mobile banking operations - without warning - due to a "system issue."   Via CCB's site:   As Bloomberg reports, China Construction…
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Currency

Russian Oligarchs Wave Goodbye To Visa, Switch To Chinese Credit Card

Zero Hedge So much for the "Russia is becoming increasingly isolated" meme that the West would like many to believe. As Russia continues to sign de-dollarization deals and trade agreements with its BRICS allies while pushing ahead with retaliatory actions against the US and Europe, it appears the 'sanctioned' friends…
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"Elites"

Behind the Curtains: How The Corporatocracy Is Driving the US-EU Trade Agenda

Wolf Street By Don Quijones, freelance writer, translator in Barcelona, Spain. Raging Bull-Shit is his modest attempt to challenge the wishful thinking and scrub away the lathers of soft soap peddled by political and business leaders and their loyal mainstream ;This article is a Wolf Street exclusive. Last week the…
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Debt Slavery

Argentina Defaults

Zero Hedge It's all over but the crying: having explained Argentina's position ( not giving to so-called vulture funds), Economy Minister Kicilloff explains: *KICILLOF SAYS HEDGE FUNDS NOT WILLING TO GIVE DELAY ON RULING *KICILLOF SAYS HARD TO BELIEVE ARGENTINA IN DEFAULT IF HAS FUNDS *KICILLOF SAYS ARGENTINA CAN'T COMPLY…
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Economic Collapse

Q2 GDP Surges 4%, Beats Estimates Driven By Inventories, Fixed Investment Spike;

Zero Hedge he Commerce department reported Q2 GDP which blew estimates out of the water, printing at , above the declining consensus, as a result of a surge in Inventories and Fixed Investment, both of which added over of the total print, while exports added another to the GDP number.…
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Land for gas: secret German deal could end Ukraine crisis

The Independent Germany and Russia have been working on a secret plan to broker a peaceful solution to end international tensions over the Ukraine. The Independent can reveal that the peace plan, being worked on by both Angela Merkel and Vladimir Putin, hinges on two main ambitions: stabilising the borders…
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21 Ways To End The Phrase ‘Americans Are So Broke…’

By Michael Snyder, theeconomiccollapseblog Did you know that 77 million Americans have unpaid debts that are "in collections" and that Congress is actually thinking about letting post offices offer payday loans?  We live in a country where almost everyone is drowning in debt and where most people are either flat…
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Central Banks

Billionaire Warns: Yellen Collapse ‘Will Be Unlike Any Other’

Moneynews Another horrific stock market crash is coming, and the next bust will be “unlike any other” we have seen. That’s the message from Jeremy Grantham, co-founder and chief investment strategist of GMO, a Boston-based firm with $117 billion in assets under management. Grantham pulls no punches when assigning responsibility…
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