October 7th – Today’s Contrarian Reads

Liberal War Mongers: The Humanitarian Excuse For Military Intervention 

Is Russia – as President Obama recently told the UN – really “attempting to recover lost glory through force,” or is Moscow reacting to what it perceives as a threat to its own national security? Russia did not intervene in Ukraine until the United States and its NATO allies supported the coup against the President Viktor Yanukovych government and ditched an agreement that had been hammered out among the European Union, Moscow, and the United States to peacefully resolve the crisis.

Dead People And Illegal Immigrants Are Being Registered To Vote All Over America

Today, I am going to share some examples of how dead people and illegal immigrants are actually being registered to vote all over America.  Despite very strong and very angry denials by the mainstream media, the truth is that election fraud is absolutely rampant in this country, and when someone tries to steal an election they are committing a crime against all of us.

Goldman Warns Of “Upward Shock” To Rates, Hints At Trillions In Losses

……Doing the math, and combining a duration estimate of 5.6 years with the SIFMA total estimated notional exposure of $40trn, and current Dollar price of bonds of $105.6, indicates that, to first order, a 100bp shock to interest rates would translate into a market value loss estimate would be $2.4 trillion. 

Huge Risks to the Global Financial System as Debt Hits Record Levels

…The front line for emerging-market risk is corporate debt. The combined shock of the commodity-price plunge and China’s surprise slowdown has made the surge in private debt a major threat to lenders and emerging-market economies more broadly.

Wrongly Resetting The ‘Recession Clock’

Factory orders rose 1.1% year-over-year in August, the first increase since February. Like February, however, it isn’t clear if the gain is due to actual organic growth or seasonal factors. The seasonally-adjusted series for factory orders fell 1.6%, the difference likely attributed to July. Orders rose by a considerable amount in that month on a seasonally-adjusted basis even though unadjusted they fell at the quickest pace since last fall. Combining July and August unadjusted, factor orders declined by 2.6%, which is almost right at the 6-month average.

David Stockman Unplugged

Hedgeye Interview on Casino Capitalism, Mutant Markets And The Larry Summers Jackass Scenario

Two Thirds Of Young American Adults Live With Their Parents

As for the US, there has been a 3.9% increase in the proportion of youth living with their parents from 2007 to 2014, significantly higher than the OECD average. As a result, today, about 66.6% of American 15- to 29 year-olds with their parents as opposed to on their own or with a roommate, compared to around 62.8% before the crisis.

Central Banks on QE Highway Worry About Running Out of Road

Two of the world’s most accommodative central banks are starting to think about ways out of the bond-buying maze…Long after their U.S. counterpart ended asset purchases and started raising interest rates, the Bank of Japan and the European Central Bank continue to rely on massive quantitative easing in a battle to revive consumer-price growth.

No Thanks! Iraqi Militia’s Threaten To Attack US Troops In Battle For Mosul

….. the secretary-general of PMU faction Harakat Hezbollah al-Nujaba, said, “The Americans are worried about the PMU joining the battle for Mosul because … it will prevent [US troops] from establishing a base there…..the prominent PMU faction Khazali Network, also has threatened to kill US troops in the battle for Mosul. Michael Pregent, a former US military intelligence officer, told Fox News last month that Khazali’s fighters pose a true danger to US troops. 

A Liberal Millennial Listens To A Trump Supporter From Flyover America

I talked at length with a Trump supporter I grew up around. I wanted to understand. I respected her growing up. I wanted to know why a person as kind and compassionate as I remember her is voting for someone like Donald Trump…… In some of these neighborhoods, one in five people lost their homes. That almost immediately turns a successful landscaping business into a struggling one.

Then there was a domino effect. She couldn’t pay for her lawn-care equipment leases and loans. That hurt her work efficiency. Then, she lost her car. But that didn’t stop the payments. Then, she lost her house. She slowly had to let go all of her employees, until it was just her, hand-mowing lawns for cash the way you might expect a high school student in the summertime.