Mon, 8 September 2014
Global economic collapse -European recession - record debt, near record unemployment, historic plunge in German investor sentiment; -France in outright collapse, Italy triple-dip recession, Spanish banks as insolvent as Portugal; -UK could be thrown into chaos if 9/18 Scottish independence referendum a yes - and now polling that way;
-Japan massive economic data negative revisions this weekend -China housing bubble burst accelerates, which is why the PBOCs PSL, or pledged supplementary lending, QE program commenced last month, following the Yuan devaluation earlier this year -essentially all nations in or near contraction -article references last week: "West to East, Economic Collapse"; "European Economic Collapse, in Simple Math"
ECB - rate cuts (extended NIRP) - $1 trillion QE announced, starting October - article references: "Thursday's ECB meeting could destroy Europe, if Ukraine doesn't first
NFP jobs - 142,000 vs. expected 230,000 - 102, 000 birth/death jobs - 0 manufacturing jobs - 35 year low labor participation rate - a third of all jobs now "temp" - completely refutes "island of lies" U.S. economic data like diffusion indices and weekly jobless claims - Stockman article "why bubblevision misses epic failure in labor market" -just two months ago, Yellen complained of "significant underutilization of labor resources"; and two weeks ago, dedicated here Jackson Hole speech to addressing such fears -article references: "significant underutilization of labor resources"; "jackson black hole"; "what jy and md really said"
"Rising dollar" -new meme of U.S. QE ending and Japan/Europe accelerating, thus creating a "strong dollar" and weaker PM demand -ridiculous in so many aspects, lots to speak of -only against items of real value is "the dollar" to be measured, not other fiat trash -900 million people in Japan/Europe, compared to 300 million in U.S. - sounds like net more PM buying to me
Manipulation Monday -bombshell that CME boasting "governments" and "central banks" as customers, and offering volume discounts to them for overnight PM futures "trading"
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