Wall Street rolled over in late afternoon trading peaking near the unchanged line, but finally closed in the red (SPY -0.3%) without much help from the BTFDers. Crude climbed 2% from this morning and the US dollar declined about the same. Indicators are bearish and a pullback appears to be close at hand.
WASHINGTON (Reuters) - Verizon Communications Inc said on Thursday it has a "reasonable basis" to believe Yahoo Inc's massive data breach of email accounts represents a material impact that could allow Verizon to withdraw from its $4.83 billion deal to buy the technology company.
PHILADELPHIA (Reuters) - The Federal Reserve might want to wait on policy changes until after the U.S. presidential election on Nov. 8, Philadelphia Fed President Patrick Harker said on Thursday, adding he was in favor of a rate increase at the Fed's September policy meeting.
WASHINGTON (Reuters) - Former Wells Fargo & Co general manager Claudia Ponce de Leon filed a whistleblower complaint in December 2011 with federal labor regulators, alleging she was fired for telling superiors about employees opening unauthorized accounts.
WASHINGTON (Reuters) - Smaller swap-dealing firms were granted a one-year reprieve from oversight, with the regulator for the U.S. market delaying a planned expansion of the dealers who must register with the federal government.
(Reuters) - Power tool maker Stanley Black & Decker Inc is working with investment bank Goldman Sachs Group Inc on a sale process for its mechanical locks business, which could fetch as much as $1 billion, according to people familiar with the matter.
(Reuters) - Boeing Co said on Thursday it opened its first commercial airplane plant in St. Louis that is expected to add about 700 jobs by early 2020, when the company is scheduled to start deliveries of the 777X.
While Deutsche Bank credit instruments hover near their worst ever, the stock price had been jawboned and squeezed higher enabling the issuance of more junk-priced debt... until today. The first close back below 12 in over a week has some worried, confirmed by Buba's Dombret denial - "European bank sector concerns are overstated."
*DOMBRET SAYS CONCERNS ABOUT EUROPE BANK SECTOR OVERSTATED
*DOMBRET SAYS SOLVENCY OF EUROPE BANK SECTOR NOT IN DOUBT
While markets wait for the election, getting closer by the day- one big question - in fact maybe the most important question - What is Trump's plans (if any) for Fed policy? As we explain in Splitting Pennies - Understanding Forex - Fed Policy (Monetary Policy) TRUMPS any regulation, domestic political policy, corporate policy, or social movement. In fact - the only thing more powerful than Fed policy is a nuclear arsenal (which is why - there is a correlation between the most powerful currencies and the most powerful militaries).
The BIG Question
Even TRUMP supporters don't know the answer to this question - because Trump never explicitly said it. Maybe Trump doesn't understand Fed policy. He is sure of himself that he understands debt. Maybe he does know - but also knows that the people don't know so it's pointless to talk about it. Whatever is the case - we don't know where Trump stands on the one issue that will determine America's economic fate one way or another - Fed policy. Will the Fed continue Quantitative Easing? Will radical Fed policies clean up a junk filled economy (for example, by raising rates to 10%) ? Will Trump nationalize the Fed? (Maybe - that's what the Elite are worried about!) - Let's make one thing perfectly clear. He can do it! 99% of 'folks' don't understand what the President really does, what his powers are, for example the President is more of a 'ceremonial' and 'cultural' leader than anything else.. But Trump would have the power to do something like this if President. Would he do it? Something like this - just as an example - would transform Wall St. and the US economy completely. Maybe, as we've covered in previous articles, this is THE REAL DEBATE going on right now at the F ...
Citi Is Worried About the Political Winds Blowing Against Yellen ... A premature exit? ... Citigroup Inc. on Tuesday posed an unspeakable question: will a political storm sweep Federal Reserve Chair Janet Yellen after the election that will force her to quit before her term ends in February 2018? -Bloomberg
Citi claims to be worried about the demise of Janet Yellen as Fed head but actually its top officials - the ones who report to London's City - are more worried about the gradual unwinding of central banking itself. They wish it to take place, but they are attempting to manage it carefully from what we can tell.
We wrote yesterday here about the unwinding of the Western - and US - political system. However, we ...
Submitted by Michael Krieger via Liberty Blitzkrieg blog,
I recently watched the recent Noam Chomsky documentary, Requiem for the American Dream, and it was excellent. I highly recommend everyone watch it since it provides a historical roadmap for how positive change happens. Lessons that we will all need to put into practice in the coming years if we want to take the world off its current collision course with disaster.
With Chomsky already on my mind, I was excited to see an article published yesterday at AlterNet titled, Noam Chomsky Unravels the Political Mechanics Behind His Gradual Expulsion From Mainstream Media.
Here's what we learned:
Ralph Nader and leading linguist Noam Chomsky engaged in a much anticipated discussion in early October on Ralph Nader Radio Hour. The two raised questions about changing the media narrative in a totalitatian-like state, and how Chomsky got dismissed from the mainstream altogether.
"How often have you been on the Op-Ed pages of the New York Times," Nader asked Chomsky.
For Chomsky, the last time was over a decade ago.
"[I was asked] to write about the Israeli separation wall, actually an annexation wall ...
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