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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/kvDIFdodHr0/story01.htm williambanzai7
Tag: news
Who Are The Top Holders Of US Treasurys
Yesterday, when the Treasury released its TIC data early by mistake, the update that China’s holdings rose to a record $1.317 trillion caused a stir. This was confusing, since while China, which as we reported yesterday, now has a record $3.8 trillion in reserves having grown by $500 billion in 2013, has barely invested in US paper, and in fact going back to 2010, its holdings were a solid $1.2 trillion. In other words, its Treasury holdings have increased by a modest $100 billion in three years. Hardly anything to write home about. And certainly nothing to write home about when one considers the soaring Treasury held by the largest holder of US paper… everyone knows who that is. For those few who don’t, and for everyone else too, here is the most recent breakdown of the top holders of US paper.
And now a question: with the Fed already “tapering” its purchases of Treasurys, and thus no longer the failsafe backstop bidder of first, last or any resort, how much interest in “money good” paper will everyone else have?
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/NhojXyToTuQ/story01.htm Tyler Durden
Merkel Ally: German Relationship With US Worse Than During Iraq War
Philipp
Mißfelder, the foreign policy spokesman for German Chancellor
Angela Merkel’s Christian Democrats in the Bundestag, has said that
the German relationship with the United States is worse than during
the most recent U.S.-led war in Iraq because of revelations related
to American spying.
From
Reuters:
(Reuters) – Relations between Germany and the United
States are worse now than during the U.S.-led invasion
of Iraq a decade ago, a leading ally of Chancellor Angela
Merkel said on Thursday, in a sign of mounting anger in Berlin over
American spying tactics.Philipp Missfelder, foreign policy spokesman for Merkel’s
Christian Democrats (CDU) in parliament, said Berlin should bar
U.S. access to a database of international financial transactions
unless Washington promises to stop spying in Germany. The
lawmaker is expected to be confirmed soon as the government
coordinator for U.S. ties.
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Cuddle Crackdown! Police Think Snugglers are Actually Hookers: Don’t cops have better things to do?
“Cuddle Crackdown! Police Think Snugglers are Actually Hookers:
Don’t cops have better things to do?” is the latest video from
ReasonTV. Watch above or click on the link below for video, full
text, supporting links, downloadable versions, and more Reason TV
clips.
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New Mexico Police Fatal Shooting of Woman After Car Chase Over “Perceived Moving Violation” That Local Cops Wouldn’t Join Ruled Justified
New Mexico state trooper Oliver Wilson shot at
Jeanette Anaya and her car 16 times at the end of a pursuit that
began over what the District Attorney says Wilson called a
“perceived” moving violation. Although the DA said she did not see
evidence of a moving violation, a grand jury which investigated
only the moments before the shooting ruled the police officer’s
actions
justified. Anaya, according to a surviving passenger in the
car, as well as the DA, tried to avoid being stopped by police out
of a fear of being arrested on a warrant for a “low-level
concealing identity charge.”
Despite the apparent lack of a justifiable cause to compel Anaya
to stop in the first place, the DA appeared to blame the victim in
the shooting, saying Anaya “was so fearful of getting arrested she
lost her life, according to the Albuquerque Journal. As to
the fact pattern surrounding the shooting, the Journal
reports:
Before the shooting, officer Wilson used a driving
maneuver to force Anaya’s Honda sedan to stop on Camino Carlos
Rey.The State Police have said previously Anaya was “aggressively”
backing toward the officer after he got out of his patrol car.
Reconstruction of the incident and [passenger Jeremy] Munoz’s
testimony indicated that Anaya did in fact backup toward Wilson’s
car, said [district attorney Angela] Pacheco.As Wilson got out of his patrol car at the end of the chase, Anaya
“was revving the vehicle,” Pacheco said in relating the officer’s
testimony, although she said Wilson’s dash-cam video does not show
Anaya’s vehicle when it traveled in reverse toward him…The officer, who’s been with the State Police for less than two
years, testified “he was in fear of his life and he was
terrorized,” Pacheco said.
Will Wilson face charges for forcing Anaya’s car to stop despite
appearing to lack a justifiable cause to? Don’t count on it, even
though local cops in Santa Fe refused a request to join the chase
because the State Police could not provide a reason it was
happening. The incident provides another tragic example of the need
for stricter rules about when police are allowed to pursue
vehicles, whether on open roads or in city traffic, especially for
reasons as flimsy as “perceived” moving violations.
Most of the 16 shots Wilson fired at Anaya’s car were while it
was moving away from the officer, according to the DA, who
suggested the copwas trying to stop her from fleeing. Anaya was
fatally shot in the back and neck. A state toxicology report
apparently found cocaine in Anaya’s system, but the
Journal says it wasn’t mentioned in the DA’s report on the
grand jury’s findings. Anaya’s family’s attorney wouldn’t comment
on whether a lawsuit was forthcoming.
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Philly Fed Beats Even As New Order Drop To May 2013 Levels, Inventories Tumble
On the surface, the January Philly Fed was a beat, printing at 9.4 on expectations of a 8.7 number and up from a downward revised 6.4. However, the internals were hardly as pretty with the most notable, New Orders, plunging from 12.9 to 5.1, the lowest print since May 2013, and also the biggest three month drop since August 2011. Additionally, while unfilled orders posted a modest increase from -6.6 to -1.0, Inventories were crushed sliding from 16.0 to -19.6, on what one can assume were wholesale liquidations, and judging by the retailers abysmal numbers, at hardly profitable levels. Furthermore, the optimism of the diffusion index respondents seems to be waning as the 6 Months forecast slide from 44.8 to 34.4 after hitting a recent near all time high of just shy of 60. Also bad news for margins, as Prices Paid increased by 2.3 points to 18.7, while Prices Received decline from 10.8 to 5.1 – a delta, in the wrong direction, of 13.6. The only good news in the report was the increase in number of employees from 4.4 to 10.0, however offset by the average employee workweek which dropped from 4.8 to -5.3. So more workers, doing less: so much for wage inflation pressures.
The data charted:
Just the New Orders data:
And the full component breakdown:
From the report’s analysis of current conditions:
The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, increased from a revised reading of 6.4 in December to 9.4 this month (see Chart). The index has now been positive for eight consecutive months. The current shipments and new orders indexes remained positive but moved in opposite directions compared with December. The demand for manufactured goods, as measured by the current new orders index, decreased from a revised reading of 12.9 to 5.1 this month. Shipments continued to expand, and its index edged slightly higher to a reading of 12.1. Labor market indicators showed some improvement this month. The current employment index increased 6 points from its revised reading in December. Twenty?three percent of the firms reported increases in employment in January, which is slightly higher than the 18 percent that reported increased employment last month. Firms reported reduced work hours, with the average workweek index falling from 4.8 to ?5.3. Cost pressures were slightly more widespread this month among reporting firms: The prices paid index increased 2 points, to 18.7. But with respect to firms’ own manufactured goods, price increases were less widespread this month: The prices received index decreased 6 points, to 5.1.
As for the 6 month outlook:
The survey’s future indicators have recently shown moderating optimism about growth in manufacturing. This month, the future general activity index fell 10 points, from a revised reading of 44.8 in December to 34.4 this month (see Chart). Still, nearly 48 percent of the firms expect increases in activity over the next six months; 13 percent of the firms indicated that they expect decreases. The indexes for future new orders and shipments also remained at relatively high levels but fell 7 points and 9 points, respectively. The future employment index was virtually unchanged at 17.5, with nearly 25 percent of the firms expecting to increase employment over the next six months.
And with GM’s year end, near-record channel stuffing now long gone, it is all downhill from here.
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Hombuilder Sentiment Slips As Buyer Traffic Tumbles
NAHB’s confidence indicator dropped modestly, missing expectations (for the 4th time in the last 5 months) by the most since October as prospective buyer traffic tumbled. While the “hope” of realtors remains notably disconnected from the reality of sales (for the 3rd time in 20 years, the 4-month slide in prospective buyer traffic is the largest since Spetember 2010 and has dropped to its weakest since May 2013.
4th miss in last 5 months…
Hope remains but is stalling…
Buyer Traffic is tumbling
Charts: Bloomberg
via Zero Hedge http://ift.tt/1arZ4aH Tyler Durden
US Treasury’s Lew (Ironically) Tells Japan: Stop Manipulating The Yen
Despite Lagarde’s call for more manipulation and money-printing from the world’s central banks yesterday, US Treasury Secretary Jack Lew is not amused with his Japanese ‘colleagues’. Speaking in Washington, Lew had plenty to say on Europe (not out of the woods), China (need to open markets more), and the IMF (US commitment remains solid – oh, apart from the funding part); but it was his entirely ironic comments aimed at Abe and Kuroda that were risible:
- *LEW SAYS JAPAN NEEDS TO `GET THEIR DOMESTIC ECONOMY GROWING’
- *LEW SAYS JAPAN CAN’T RELY ON FX RATE FOR ECONOMIC ADVANTAGE
Pot calling kettle black? Or a person who lives in a currency-war “glass-house” throwing stones? Pick your tortured analogy but the US hypocrisy continues.
He had plenty to say…
G-20…
- *LEW SAYS U.S. COMMITMENT TO IMF REMAINS SOLID
- *LEW SAYS A G-20 FOCUS OF HIS WILL BE INTL FINANCIAL STANDARDS
Japan…
- *LEW SAYS JAPAN CAN’T RELY ON FX RATE FOR ECONOMIC ADVANTAGE
- *LEW SAYS JAPAN NEEDS TO `GET THEIR DOMESTIC ECONOMY GROWING’
China…
- *LEW SAYS CHINA IS CONCERNED WITH PACE OF ECONOMIC CHANGE
- *LEW SAYS CHINA’S GOAL SHOULD BE TO OPEN MARKETS
- *LEW SAYS FX AND OTHER REFORMS ARE GOOD FOR CHINA’S ECONOMY
- *LEW SAYS CHINA IS INTENT ON PATH OF ECONOMIC REFORM
Europe…
- *LEW SAYS SOME EUROPEAN NATIONS NEED TO DO MORE TO BOOST DEMAND
- *LEW SAYS EUROPE NEEDS TO GET GROWTH TO HIGHER LEVEL
- *LEW SAYS EUROPE IS NOT COMPLETELY OUT OF THE WOODS
US…
- *LEW SAYS LATE-FEB. IS TIME TO FOCUS ON RATHER THAN EARLY MARCH
- *LEW SAYS WAITING UNTIL LAST MINUTE ON DEBT CAUSES DAMAGE
- *LEW SAYS CONGRESS SHOULDN’T PLAY GAMES WITH GOVT PAYMENTS
- *LEW SAYS CONGRESS IS GOING TO HAVE TO ACT ON DEBT CEILING
- *LEW SAYS 2014 STARTS WITH CONFIDENCE ECONOMY TO DO BETTER
via Zero Hedge http://ift.tt/1dTFVza Tyler Durden
US Treasury's Lew (Ironically) Tells Japan: Stop Manipulating The Yen
Despite Lagarde’s call for more manipulation and money-printing from the world’s central banks yesterday, US Treasury Secretary Jack Lew is not amused with his Japanese ‘colleagues’. Speaking in Washington, Lew had plenty to say on Europe (not out of the woods), China (need to open markets more), and the IMF (US commitment remains solid – oh, apart from the funding part); but it was his entirely ironic comments aimed at Abe and Kuroda that were risible:
- *LEW SAYS JAPAN NEEDS TO `GET THEIR DOMESTIC ECONOMY GROWING’
- *LEW SAYS JAPAN CAN’T RELY ON FX RATE FOR ECONOMIC ADVANTAGE
Pot calling kettle black? Or a person who lives in a currency-war “glass-house” throwing stones? Pick your tortured analogy but the US hypocrisy continues.
He had plenty to say…
G-20…
- *LEW SAYS U.S. COMMITMENT TO IMF REMAINS SOLID
- *LEW SAYS A G-20 FOCUS OF HIS WILL BE INTL FINANCIAL STANDARDS
Japan…
- *LEW SAYS JAPAN CAN’T RELY ON FX RATE FOR ECONOMIC ADVANTAGE
- *LEW SAYS JAPAN NEEDS TO `GET THEIR DOMESTIC ECONOMY GROWING’
China…
- *LEW SAYS CHINA IS CONCERNED WITH PACE OF ECONOMIC CHANGE
- *LEW SAYS CHINA’S GOAL SHOULD BE TO OPEN MARKETS
- *LEW SAYS FX AND OTHER REFORMS ARE GOOD FOR CHINA’S ECONOMY
- *LEW SAYS CHINA IS INTENT ON PATH OF ECONOMIC REFORM
Europe…
- *LEW SAYS SOME EUROPEAN NATIONS NEED TO DO MORE TO BOOST DEMAND
- *LEW SAYS EUROPE NEEDS TO GET GROWTH TO HIGHER LEVEL
- *LEW SAYS EUROPE IS NOT COMPLETELY OUT OF THE WOODS
US…
- *LEW SAYS LATE-FEB. IS TIME TO FOCUS ON RATHER THAN EARLY MARCH
- *LEW SAYS WAITING UNTIL LAST MINUTE ON DEBT CAUSES DAMAGE
- *LEW SAYS CONGRESS SHOULDN’T PLAY GAMES WITH GOVT PAYMENTS
- *LEW SAYS CONGRESS IS GOING TO HAVE TO ACT ON DEBT CEILING
- *LEW SAYS 2014 STARTS WITH CONFIDENCE ECONOMY TO DO BETTER
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Paul Detrick: Harassed for Taking Photos
In
October 2009 Shawn Nee, an award-winning photographer, was stopped
by officers from the Los Angeles County Sheriff’s Department (LASD)
while taking pictures of turnstiles in the L.A. subway. According
to the officers, Nee was engaged in “suspicious terrorist
activity.” This sort of encounter, says Paul Detrick, in which
local cops harass ordinary citizens engaged in constitutionally
protected behavior, has become disturbingly frequent in cities
nationwide, largely because federal anti-terrorism funding has made
local law enforcement agencies major participants in the War on
Terror.
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