12/06/2016

Breaking News, Economics, World News 12/06/2016

Ambrose Evans-Pritchard: Why I am voting to leave the EU

by John Galt June 12, 2016 20:10 ET In what can only be called a stunning editorial in tonight’s edition of the UK Telegraph, Ambrose Evans-Pritchard hammers it home with a stunning rebuke of the pro-European Union forces inside the United Kingdom with this editorial: Brexit vote is about the supremacy of Parliament and nothing else: Why I am voting to leave the EU Holy smokes! This is somewhat earth shattering as the conventional economic thought inside England was to remain and muddle through with a partnership both with France and…

Breaking News, Economics 12/06/2016

Market Trouble Ahead as the Bellwethers Break

by John Galt June 12, 2016 19:40 ET I’m going to keep this short, simple, but loaded with graphs so everyone can see what happened last week to the 2 bellwether stocks in the equities markets, Apple, Inc. and Goldman Sachs. Why I have tagged those two issues is irrelevant; I just advise everyone to remember 2007-2009 when General Motors and IBM were the bellwethers and what happened to the markets after they broke down. Both of these stocks are widely held, usually reliable leaders in bull markets and vice-versa, and…

Breaking News, Economics 12/06/2016

As a Follow up to My last Article on China: China FDI Drops 1% vs. Expected +5%

by John Galt June 12, 2016 19:20 ET As a follow up to my last article, the news out of China this morning was not good. In fact it validates the concerns foreign investors have about the viability of keeping money parked inside the communist behemoth where risk is defined not by markets but government whims. Foreign Direct Investment in China dropped 1% instead of rising the predicted 5% that economists expected. These highlights from the release along with the chart from ForexLive tells the tale of woe: +6.0% prev Yuan…

Breaking News, Economics 12/06/2016

China Drops a Silent Economic Bomb: Hints at Bankruptcy Rules for Financial Sector

by John Galt June 12, 2016 17:55 ET The one thing that foreign investors had always been able to count on with the People’s Bank of China (PBOC) and the Communist Party of China was that no matter how bad the conditions in their financial sector may get, the government and PBOC will always find away to restructure the debts or ensure the continued operation of the entities to avoid an outright default. Sunday, during the Lujiazui Forum in Shanghai, that theory was turned on its head. From the South China…

Breaking News, World News 12/06/2016

The War That isn’t Reported Continues: 9 Ukrainian Soldiers Killed, 19 Wounded on Friday

by John Galt June 12, 2016 16:35 ET The war that is not going to be reported in the Western media continues with casualties and destruction on both sides becoming quite commonplace as artillery exchanges and small arms fire intensifies. The story below demonstrates that the OSCE oversight of the Minsk Agreements is nothing more than a figurehead joke designed to support a pro-NATO/EU version of events ignoring the plight of citizens near the front lines in the Donbass region. From DNI News on Saturday: 9 Ukrainian security officers killed, 19…

Breaking News, World News 12/06/2016

More Terror in China as Passenger Attempts to Start Fire on Domestic Airliner

by John Galt June 12, 2016 11:30 ET In what seems to be an ongoing theme this morning, there was another attempted terrorist incident inside of China overnight. On a domestic airline flight a man attempted to set the plane on fire using a lighter and bottle of petrol but luckily was subdued by passengers and the fire extinguished before any serious damage occurred. From the South China Morning Post in Hong Kong: Two people were injured in the incident, which broke out aboard Flight ZH9648 shortly before it was due…

Breaking News, World News 12/06/2016

5 Wounded by Bomb Blast at Shanghai Pudong International Airport Terminal (VIDEO)

by John Galt June 12, 2016 09:30 ET The news keeps hitting hard and fast this morning. In China, which is no stranger to Islamic terrorism with the ongoing conflict with the Uyghurs in Xinang province, what is being described as a home made explosive device was detonated in a terminal at Shanghai’s Pudong International Airport today wounding three people. From the Reuters report: The explosion occurred near the airport’s Terminal Two ticketing area shortly after 2 p.m. and the people who were injured were transported for medical treatment, the authority…

Breaking News, U.S. News 12/06/2016

Islamic Terrorist Kills 50 Wounds 53 at Orlando, FL Nightclub (UPDATED)

by John Galt June 12, 2016 08:15 ET UPDATED 12:30 ET: This will be my final update on this story via this thread. If something else is discovered, I will start a new thread there. In the mean time, this is all you need to know about this story besides his father stating he was angered when two men kissed each other at a shopping mall in front of his son (per NBC). Here is the crux of the story via this Tweet: UPDATED 10:21 ET: Per Mayor Buddy Dwyer of…

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