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Thursday, September 29, 2016

Russia to continue Syria operation despite threat from Washington

Kremlin says will press on with Syria operation, slams US
US Secretary of State John Kerry has called on Moscow to ground its planes over Syrian battle zones, including over Aleppo.

Why the whole banking system is a scam - Godfrey Bloom MEP


Can be seen here....

Deutsche bank is crashing

Panic, Anxiety Spark Rush to Build Luxury Bunkers for L.A.'s Superrich

Those who can afford to pull out all the stops for so-called self-preservation are doing so — in a fashion that goes way beyond the submerged corrugated metal units adopted by reality show "preppers" — to prepare for anything from nuclear bombings to drastic climate-change events. Gary Lynch, GM at Rising S Bunkers, a Texas-based company that specializes in underground bunkers and services scores of Los Angeles residences, says that sales at the most upscale end of the market — mainly to actors, pro athletes and politicians (who require signed NDAs) — have increased 700 percent this year compared with 2015, and overall sales have risen 150 percent. "Any time there is a turbulent political landscape, we see a spike in our sales. Given this election is as turbulent as it is, we are gearing up for an even bigger spike," says marketing director Brad Roberson of sales of bunkers that start at $39,000 and can run $8.35 million or more (FYI, a 12-stall horse shelter is $98,500).

Fed Chair Yellen Doesn’t Know What The Current Labor Force Participation Rate Is

The panic look on the dude with the tie on the right is humorous. He has that calm " Oh shit " look.

Fed's Lockhart: November is live

  • If the upcoming data confirms his outlook it would become a question of when, not if the Fed would raise rates
  • Is comfortable with a possible rate hike at one of the coming meetings, depending on the data
  • Shares the concerns of other Fed members about waiting too long to hike
  • Jobs market is close to meeting the Fed's goal
That last comment is well at odds with what Kashkari said yesterday. He said the Fed knows less than they think they do about the labour market and employment. There's never been a real set metric for full employment but most see it with an unemployment rate around 4.5%

 Nobody believes in the Fed, so the data means nothing.


US August pending home sales -2.4% vs 0.0% m/m expected

  • Prior was +1.3% (revised to +1.2%)
  • Pending home sales +4.0% y/y vs +2.6% y/y expected
  • Prior y/y reading was -2.2% (revised to -2.4%)
There must have been a longer-term downward revision somewhere in order to produce that 4% rise in y/y sales.
Overall, it's a negative report but there aren't many worries about the US housing market and this won't weight on the US dollar.

Obama Administration Admits It Does Not Screen Refugees For Radical Views

ECB Says Deutsche Bank “Systemic Threat” Is “Not ECB Fault”

The potential collapse of Deutsche Bank and the systemic risk it poses to banks and the European financial and monetary system moved into the German political sphere yesterday. The German government denied it was preparing a rescue of the embattled bank and the Bundestag attempted to ask questions of ECB President Mario Draghi about the causes of the “systemic risks” posed by the bank.