News and Trends

October 31, 2014

Why Did Q3 GDP Jump: Thank ISIS And The "War On Terror" - Zero Hedge--10.30.14
The main reason for the Q3 GDP jump was thanks to another accounting gimmick. It wasn't the US consumer leading to US growth, but because the government stepped up and boosted GDP by increasing their National Defense spending thanks to ISIS and the war on terror.

Q3 GDP Rises 3.5% Despite Sharp Slowdown In Consumption, Pushed Higher By Government Spending Spree - Zero Hedge--10.30.14
A quick glance at the recent GDP report reveals that personal consumption in Q3 actually decreased notably from Q2. The main driver this quarter was government spending, which had a 0.83% boost to the bottom line GDP, the highest since Q2 of 2009.

Fed to End Massive Bond-Buying Program - Fox Business--10.29.14
The Fed has announced it will end its latest bond-buying program this month, as expected. The Fed also stated they will continue to try and stimulate the economy by keeping interest rates low for a "considerable time."

Greenspan: Fed can’t exit without turmoil - Market Watch--10.29.14
According to former Fed chair Alan Greenspan, the Fed won't be able to exit from its accommodative monetary policy without some turmoil in the financial markets.

White House hacked - CNN Money--10.29.14
Hackers have broken into an unclassified computer network used by President Obama's top advisers. Government officials did not say who was behind the attack but signaled that they are aware of who was responsible.

The case for a global recession in 2015 - Fortune--10.28.14
Economist David Lavy argues that instability in emerging markets will sink the U.S. economy before the end of next year. The U.S. may be showing signs of growth but European economies are still battling depression-era levels of unemployment and the threat of deflation.

Hacking Tops List of Crimes Americans Worry About Most- Gallup--10.27.14
Americans are more likely to worry about having credit card information they used in stores stolen by computer hackers than they are about any other crime they are asked about.

IRS Seizing Bank Accounts of Innocent Americans- Newsmax--10.26.14
The IRS has been seizing money from the bank accounts of individuals and businesses with no proof of any crimes committed. The problem has been growing and causing innocent people to lose their money.

25 European banks set to fail health checks: sources - Reuters--10.24.14
A group of 25 banks have failed European health checks, according to people familiar with the matter. These health checks found that these banks had fallen short of a minimum capital benchmark at the end of last year.

European authorities aim to purge weak banks - Associated Press--10.23.14
Europe's biggest banks are facing a day of judgement as the ECB prepares to unveil the results of a yearlong search through their finances. The ECB seeks to identify banks that are too weak to lend to businesses or make it through another recession.

The Fed is deliberately stealing from savers - Market Watch--10.22.14
Recently, Fed Chairman Janet Yellen expressed concern over the rising wealth inequality in America. However, it is the Fed's own policies that are driving the expansion of the wealth gap.

Market Volatility Merely a Symptom of Larger Issues - The New York Times--10.21.14
The volatility seen in the markets is a symptom of a bigger problem, and that is the fragility of widely accepted assumptions about where the world is heading.

China's economy suffers its worst quarter since the financial crisis - CNN Money--10.21.14
China's economy suffered its worst quarter in more than five years, causing concerns over Beijing's ability to meet its annual growth target.

Officials warn 500 million financial records hacked - CNBC--10.21.14
Federal Officials warned companies that hackers have stolen more than 500 million financial records over the past 12 months. The U.S. financial sector is one of the most targeted in the world according to the FBI and Secret Service officials.

Over 48 million Americans live in poverty - CNN Money--10.16.14
Over 48 million Americans are living in poverty, accordinf to a report done by the Census Bureau. A more detailed look at poverty reveals some ugly details.

Fed Is Silent on Doomsday Book, a Blueprint for Fighting Crises - The New York Times--10.14.14
The Doomsday Book is a collection of legal opinions that describe and delineate the Federal Reserve's ability to fight financial crises. The Fed would prefer to tell the public nothing more than that.

Buyers beware, the bear market has begun: Gartman - CNBC According to market expert Dennis Gartman, the selloff in global stocks is set to continue as a bear market takes hold. He even believes this could be the beginning of a bear market that could last for some time.

World economy so damaged it may need permanent QE- The Telegraph--10.15.14
The combined tightening by the US and China has caused global liquidity to evaporate. The slowdown has proven too much for analready fragile world economy.

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