Martin Armstrong: "Those In Power Will Risk War And Civil Unrest To Preserve It" | Zero Hedge: "Nigel Farage may be the only practical politician these days because he came from the trading sector. He explains the Euro-Project and its failures. He makes it clear that the Greek people never voted to enter the euro, and explains that it was forced upon them by Goldman Sachs and their politicians."
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Friday, July 17, 2015
Friday, July 10, 2015
The Euro crisis/The reason the EU was a bad idea - William Hague - Brilliant Article
Euro-Skeptic William Hague: "I Was Right In 1998, And I Am Right Today" | Zero Hedge:
William Hague - The 3 reasons why the Euro crisis will continue and why it is no fault of the Greek people.
They have rejected reasonable terms from their creditors, defending retirement benefits paid earlier than most in northern Europe, and protecting lower VAT rates for tourist areas of which Britain's Welsh hills and Yorkshire Dales, to name two close to my heart, can only dream. But Greeks have experienced the loss of one quarter of their entire national income, following an unsustainable inflation of spending and debt which eurozone membership facilitated. The responsibility for this crisis lies with their own former leaders and those around the EU who gave them euro membership when they were not remotely suited to it, a triumph of political desire over dispassionate economic analysis for which ordinary people are now paying the price.
It is no good now expecting Greeks to sit quietly in a burnt-out room of the burning building I described 17 years ago.
Greeks are being expected to do business and compete with the rest of the world at the same exchange rate and with the same interest rates as Germany, which would require their manufacturing, their education and their enterprise culture to be at least similar to those of Germany.
In their lifetimes they are not going to be able to do that. This is not because there is something wrong with them; it is because they live in a different economic environment from Germany, and one that is not suited to being in the same currency.
In such circumstances, it is better to be able to leave sooner, with some generous support, than leave later with even greater resentment and failure.
Across southern Europe, governments such as those in Italy and Spain are making brave efforts to enact long overdue reforms. They might not achieve enough, however, for their people to prosper when required to compete equally with their northern neighbours.
There is a clear risk that the economic performance of the south will diverge from, not converge with, the north. Unless this is averted, it will bring problems to Europe for which Greece has only been a minor rehearsal.
In future decades, in the very business school where I spoke in 1998, I believe students will sit down to study the folly of extending a single currency too far. Sad though it will be to see it, their textbook is likely to say that the Greek debacle of 2015 was not the end of the euro crisis, but its real beginning."
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William Hague - The 3 reasons why the Euro crisis will continue and why it is no fault of the Greek people.
- "The first is that this crisis is not the fault of the Greek people. It is easy to think the opposite when they have a government so utterly ham-fisted and unreliable in its dealings with its partners, and a demagogic and now departed finance minister who regards as "terrorism" the simple act of lending money and expecting it back one day.
They have rejected reasonable terms from their creditors, defending retirement benefits paid earlier than most in northern Europe, and protecting lower VAT rates for tourist areas of which Britain's Welsh hills and Yorkshire Dales, to name two close to my heart, can only dream. But Greeks have experienced the loss of one quarter of their entire national income, following an unsustainable inflation of spending and debt which eurozone membership facilitated. The responsibility for this crisis lies with their own former leaders and those around the EU who gave them euro membership when they were not remotely suited to it, a triumph of political desire over dispassionate economic analysis for which ordinary people are now paying the price.
It is no good now expecting Greeks to sit quietly in a burnt-out room of the burning building I described 17 years ago.
- This brings us to the second truth: that this is not a short-term crisis, but a permanent one, in which any temporary accommodation will soon be overtaken by events.
Greeks are being expected to do business and compete with the rest of the world at the same exchange rate and with the same interest rates as Germany, which would require their manufacturing, their education and their enterprise culture to be at least similar to those of Germany.
In their lifetimes they are not going to be able to do that. This is not because there is something wrong with them; it is because they live in a different economic environment from Germany, and one that is not suited to being in the same currency.
In such circumstances, it is better to be able to leave sooner, with some generous support, than leave later with even greater resentment and failure.
- The third and final truth will be the hardest one of all for those responsible for the euro to accept: that this is not just about one country. It is in Greece that the fundamental tensions created by a single currency have first broken through, because Greece is a particularly indebted and less competitive country. But the same tensions will ultimately surface in other nations facing a less immediate crisis but a similar prognosis.
Across southern Europe, governments such as those in Italy and Spain are making brave efforts to enact long overdue reforms. They might not achieve enough, however, for their people to prosper when required to compete equally with their northern neighbours.
There is a clear risk that the economic performance of the south will diverge from, not converge with, the north. Unless this is averted, it will bring problems to Europe for which Greece has only been a minor rehearsal.
In future decades, in the very business school where I spoke in 1998, I believe students will sit down to study the folly of extending a single currency too far. Sad though it will be to see it, their textbook is likely to say that the Greek debacle of 2015 was not the end of the euro crisis, but its real beginning."
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Thursday, July 9, 2015
And this why they convinced Greece to join the EU...so they could screw them ... this is how the game is played
- GREEK REFORMS PROPOSAL SAYS WILL FACILITATE THE COMPLETION OF THE TENDERS FOR THE PRIVATIZATION OF REGIONAL AIRPORTS, TRAINOSE, THE PORTS OF PIRAEUS AND THESSALONIKI AND HELLINIKON
- GREEK REFORMS PROPOSAL SAYS WILL TRANSFER REMAINING STATE SHARES IN GREEK TELECOMS COMPANY OTE TO THE PRIVATIZATION AGENCY
They will make Greece privatize all their public sectors - The companies being given the contracts are part of the Cabal that is behind Greece joining the EU.
Make them a part of something they cannot possibly afford to be a part of. Then when they fail - point a finger at the politicians in charge, create internal conflict and move in and take over the choice cuts.
That's how it's done folks!
U.S. government hack could actually affect 18 million - CNNPolitics.com
U.S. government hack could actually affect 18 million - CNNPolitics.com: "The personal data of an estimated 18 million current, former and prospective federal employees were affected by a cyber breach at the Office of Personnel Management - more than four times the 4.2 million the agency has publicly acknowledged. "
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I.R.S. Cracks Down on Hedge Fund Tax Strategy
So-called basket options—complex financial structures that allowed hedge funds like Renaissance Technologies to bypass taxes on short-term trades—will now be labeled listed transactions, the I.R.S. said. This means that anyone using the options must declare them on their tax returns. They will be penalized if they fail to do so. (Tweet This)
The new I.R.S. guidance will be retroactive, applying to all transactions as far back as Jan. 1, 2011.
http://www.cnbc.com/id/102820869
The new I.R.S. guidance will be retroactive, applying to all transactions as far back as Jan. 1, 2011.
http://www.cnbc.com/id/102820869
Wednesday, July 8, 2015
Employment - What is and what isn't happening
Real Jobs that pay the bills
The Jobs that make the numbers work
Front Running Explained - Russell Rebalance Climax - The Busiest Trading Day Of The Year | Zero Hedge
Russell Rebalance Climax - The Busiest Trading Day Of The Year | Zero Hedge: "In truth, however, markets and traders have been handicapping likely Russell adds, deletes and moves for over a month. How do we know? The Convergex Program Trading desk put together an analysis of how the various stocks that are transiting into/out of/in between Russell 1000 and 2000 indices. Here’s the math:
The 120+ names being added to the Russell 2000 are up an average of 11% since May 1st. This didn’t happen all at once, nor did it even happen in June when the preliminary names were announced. No – this group advanced 10% in May, and was up as much as 15% on June 15th. And the final move – today – could take this select list higher still.
In contrast, the handful (19, by our calc) of companies entering the Russell 1000 are up a mere 29 basis points since May 1st.
Even though most market participants are more familiar with the Russell 2000 as a de facto standard for small cap indices than the Russell 1000 for large caps, companies moving from the 2000 to the 1000 today are up 6.2% since May 1st. This may seem odd because common wisdom has it that far more capital is benchmarked to the 2000 than the 1000, resulting in a net sale position for equities making that transition.
Another seeming anomaly – the 50 companies moving from the 1000 to the 2000 are down 3.2% since May 1st. Again, the common perception is that moving “Down” to the 2000 means actually picking “up” more potential capital.
And how about those companies that are getting the heave-ho entirely? Yep – not good news there. The average return for the 150+ companies leaving the Russell 2000 is -1.9% from May 1st to today.
There is, of course, one remaining question: how close have the traders who are essentially renting these positions until the “Real” owners show up today gotten to accurately pricing the supply/demand imbalances created by the adds/deletes/moves? Will the Russell 2000 “Add” names trade higher today on the back of strong demand from index-oriented investors? Will the equities moving from the Russell 1000 to the 2000 see the benefit of strong demand going into the closing bell from their new, more widely followed index?
It is for this reason that Russell rebalance day is often the busiest single trading day of the year. Our head trader, Pete Coleman, told me that he expected this to be the case today. That’s how important the Russell rebalance can be. And it tells me one thing. Everyone is essentially a trader today, regardless of what your investment mandate is every other day of the year."
'via Blog this'
The 120+ names being added to the Russell 2000 are up an average of 11% since May 1st. This didn’t happen all at once, nor did it even happen in June when the preliminary names were announced. No – this group advanced 10% in May, and was up as much as 15% on June 15th. And the final move – today – could take this select list higher still.
In contrast, the handful (19, by our calc) of companies entering the Russell 1000 are up a mere 29 basis points since May 1st.
Even though most market participants are more familiar with the Russell 2000 as a de facto standard for small cap indices than the Russell 1000 for large caps, companies moving from the 2000 to the 1000 today are up 6.2% since May 1st. This may seem odd because common wisdom has it that far more capital is benchmarked to the 2000 than the 1000, resulting in a net sale position for equities making that transition.
Another seeming anomaly – the 50 companies moving from the 1000 to the 2000 are down 3.2% since May 1st. Again, the common perception is that moving “Down” to the 2000 means actually picking “up” more potential capital.
And how about those companies that are getting the heave-ho entirely? Yep – not good news there. The average return for the 150+ companies leaving the Russell 2000 is -1.9% from May 1st to today.
There is, of course, one remaining question: how close have the traders who are essentially renting these positions until the “Real” owners show up today gotten to accurately pricing the supply/demand imbalances created by the adds/deletes/moves? Will the Russell 2000 “Add” names trade higher today on the back of strong demand from index-oriented investors? Will the equities moving from the Russell 1000 to the 2000 see the benefit of strong demand going into the closing bell from their new, more widely followed index?
It is for this reason that Russell rebalance day is often the busiest single trading day of the year. Our head trader, Pete Coleman, told me that he expected this to be the case today. That’s how important the Russell rebalance can be. And it tells me one thing. Everyone is essentially a trader today, regardless of what your investment mandate is every other day of the year."
'via Blog this'
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