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Goooooood Morning Fiatnam!

Tuesday, August 26, 2014

Print Less but Transfer More

http://m.foreignaffairs.com/articles/141847/mark-blyth-and-eric-lonergan/print-less-but-transfer-more


Most economists agree that the global economy is stagnating and that governments need to stimulate growth, but lowering interest rates still further could spur a damaging cycle of booms and busts. Instead, central banks should hand consumers cash directly.


Meanwhile insiders are scooping up all the PM's at rock bottom prices.   The definition of deflation is purchasing power increasing, which isn't happening and WILL NOT happen with chopper drops of cash.
Trust the bankers at your own peril.



UN helicopter shot down in South Sudan

http://hosted.ap.org/dynamic/stories/A/AF_SOUTH_SUDAN_UN_HELICOPTER?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT


The U.N. mission said on Twitter that an Mi-18 cargo helicopter crashed Tuesday near Bentiu, which is hotly contested between the government and rebels. The U.N. said it is deeply concerned about the fate of its crew. A search and rescue team has been sent to the crash site.
The U.N. official, who insisted on anonymity because he was not authorized to speak to the press, said contact with the helicopter was lost at about 3:19 p.m. and that it was apparently shot down near Bentiu.

Fairchild Semiconductor Closing Facilities in Utah and Malaysia - Eliminating 1,350 Jobs in US and Asia


http://www.standard.net/Business/2014/08/25/Fairchild-Semiconductor-cutting-1-350-jobs.html


Chip supplier Fairchild Semiconductor is eliminating about 1,350 jobs in the U.S. and Asia — about 15 percent of its total workforce — to reduce costs.
The company said Monday that it will close facilities in Utah and Malaysia and will shut down five-inch wafer fabrication lines in South Korea. Fairchild said it will take charges of $36 million in restructuring and $25 million in depreciation, but the closures are expected to save Fairchild $45 million to $55 million a year.
The San Jose, California-based company said it will close the facilities between the second and fourth quarters of 2015. The Utah facility in West Jordan employs about 500, according to the company’s website.
Fairchild Semiconductor International Inc. shares fell 10 cents to $16.92 in midday trading. The stock has gained 36 percent over the last 12 months.

550 Buyouts, Layoffs Imminent at Turner; HLN, CNN Among Cuts (Exclusive)

http://www.thewrap.com/buyouts-layoffs-550-turner-cnn-hln/

Some 550 buyouts are to be offered at Time Warner's Turner network this week, including a large number of those at CNN and HLN, which will lead to layoffs if they are not taken voluntarily, according to an individual with knowledge of the network's plans.
The buyouts will come across the Turner division, with a couple of hundred expected at CNN and HLN, the individual said.
A CNN spokeswoman had no immediate comment.

City-by-city look at home prices in June, including the slowdown in San Francisco

City-by-city look at home prices in June, including the slowdown in San Francisco - Capitol Report - MarketWatch

 The year-on-year advance was lower for every city — the first time that’s happened since February 2008.



• The annual gain for San Francisco has slowed from 18.4% in April to 12.9% in June.


• Nationally, prices are down 17% from their peak.



Drawing a straight line through the current decline in Case-Shiller price means YOY will be negative in the beginning of 2015. 

Recap:



  • NAHB housing market index 55 vs 53 exp
  • Housing starts 1093K vs 965K exp
  • Initial jobless claims 298K vs 303K exp
  • Philly Fed 28.0 vs 19.7 exp
  • Markit manufacturing 58.0 vs 55.7 exp
  • Existing home sales 5.15m vs 5.02m exp
  • Consumer confidence 92.4 vs 89.0 exp
  • Richmond Fed +12 vs +6 exp


A govt survey consists of braindead civil servants at the water cooler saying:

. . . "yo, man, you feelin' conf'dant t'day, yo?"
. . . "shit, 'bout wut, man?"
. . . "dunno.  'bout keepin' yo job & shit, man."
. . . "fu*k yeah, man!  we got 'bama in da whyte howse, man!"
. . . "oh yeah, man.  dat mean conf'dance is fu*kin' up, man.  shiiiit."

Consumer confidence hits highest level since 2007

https://www.conference-board.org/data/consumerconfidence.cfm



The Conference Board Consumer Confidence Index®, which had increased in July, improved further in August. The Index now stands at 92.4 (1985=100), up from 90.3 in July. The Present Situation Index increased to 94.6 from 87.9, while the Expectations Index edged down to 90.9 from 91.9 in July.
The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was August 14.

Raise rates today, why not I'm convinced.... 

Cop Hits Man In The Head 20 Times As Onlookers Plead ‘Don’t Punch Him No More’

http://libertycrier.com/cop-hits-man-head-20-times-onlookers-plead-dont-punch/

Once the cops have pinned a non-violent suspect to the ground, how many times are they allowed to punch him in the head? Is it fewer than 20? I would say so, but I’m not a Greenville County, South Carolina, deputy.
Greenville officers approached a man at a Walmart parking lot on Saturday. The man appeared to be under the influence of alcohol or drugs, and didn’t respond to police questions or instructions. Eventually, the officers followed the man inside the store, where they attempted to detain him. The deputies claim the man resisted, though video footage of the incident certainly makes said resistance look passive, rather than violent. But once the two cops had the man on the ground, one of them immediately began punching him in the head. I count at least 20 blows.

The seriousness of California's drough

http://imgur.com/a/IgoUq

A picture paints a thousand words... but these 3 before-and-after images in California (over a period of just 3 years) suggest only 3 words - "What a Disaster"

Hussman: Broken Links - Fed Policy and the Growing Gap Between Wall Street and Main Street

http://hussman.com/wmc/wmc140825.htm

When the majority of Americans examine the world around them, they see a stock market at record highs and modest apparent improvement in the economy, but they also have the sense that something remains terribly wrong, and they can’t quite put their finger on it. According to a recent survey by the Federal Reserve, 40% of American families report that they are “just getting by,” and 60% of families do not have sufficient savings to cover even 3 months of expenses. Even Fed Chair Janet Yellen seemed puzzled last week by the contrast between a gradually improving unemployment rate and persistently sluggish real wage growth.
We would suggest that much of this perplexity reflects the application of incorrect models of the world.
Before the 15th century, people gazed at the sky, and believed that other planets would move around the Earth, stop, move backwards for a bit, and then move forward again. Their model of the world – that the Earth was the center of the universe – was the source of this confusion.