4 Trump-Taunting Blacks Charged With Hate-Crime After Attack On ‘Special Needs’ White Teen

Update: Police have charged the four suspects with battery and hate crimes (though we note no specific allegation of race-related hate)…

BREAKING: Hate crime, battery charges filed against four black suspects accused in beating of white man streamed live on Facebook.

— The Associated Press (@AP) January 5, 2017

 

The video was initially posted via Facebook Live under the account of someone named Brittany Herring and spread quickly via Twitter and under the hashtag #BLMKidnapping.

BLM is an apparent reference to the social justice group Black Lives Matter, which did not appear to have any connection to the video.

 

Police Cmdr. Kevin Duffin said that the suspects made “stupid decisions.”

*  *  *

As we detailed earlier, it appears Newt Gingrich was right in his outrage at the hypocrisy of the situation surrounding the kidnap and abuse of a mentally-ill white teen by four black assailants. Despite the suspects shouting “f*** Donald Trump” and “f*** white people” Chicago police said today that they do not believe the attack was motivated by race, more likely due to his “special needs.”

As KAKE.com reports, Chicago Police Department spokesman Anthony Guglielmi said Thursday morning that they believe the victim was targeted because he has “special needs,” not because of his race.

Police spokesman Anthony Guglielmi said it’s also possible that the suspects were attempting to extort something from the victim’s family.

 

However, investigators are still considering whether the vile assault falls under hate crime laws and admitted there were “terrible racist statements” used.

Additionally, the grandmother of the young woman associated with the live video on Facebook of the beating says her granddaughter “had her ups and downs,” but is “a good person.” The grandmother says the video doesn’t reflect the young woman she raised.

Newt Gingrich was furious, warning that the U.S. was “at the edge of a terrible period” after a Facebook Live video surfaced in which a disabled Chicago teen is seen being tortured amid chants of “f— Donald Trump.”

If this had been done to an African-American by four whites, every liberal in the country would be outraged and there would be no question that it is a hate crime,” Gingrich said in an interview on “Fox & Friends.”

 

“We are right at the edge of a terrible period — which I know President-elect Donald Trump wants to avoid — of having a deep bitter division in the communities in a way that makes America very hard to govern.”

The post 4 Trump-Taunting Blacks Charged With Hate-Crime After Attack On ‘Special Needs’ White Teen appeared first on crude-oil.top.

Time Warner Slides On Report Trump Still Opposes AT&T Merger

Slowly but surely, Trump is dismantling the massively overpriced market, one stock at a time, and after taking a detour into the world of FX earlier when he slamming the Peso for the second time this week when he warned Toyota not to build a planta in Baja, Mexico, moments ago Time Warner slumped on Bloomberg news that Trump has told a confidant that he still opposes the AT&T- TIme Warner deal.

  • TIME WARNER FALLS 3.8% AS TRUMP SAID TO OPPOSE AT&T DEAL
  • TRUMP SAID TO TELL CONFIDANT HE STILL OPPOSES AT&T-TIME WARNER

As a reminder, he explicitly said during his presidential campaign that he would seek to undo this deal, as such it probably should not come as a major surprise, and yet…

And for those who feel they are unable to keep up with Trump’s non-stop tweeting, and its impact on various asset classes, there is good news: as Yahoo reports, there is now an app alerting you whenever Trump tweets about stocks you own.

The free iPhone app works by letting you set up financial “triggers,” which you can then use to guide your investment decisions. For example, you can set a reminder to sell a stock when its price reaches a certain level, moves a specific percentage, hits a one-year low or high, and so on. When the condition occurs, Trigger sends you a notification, and you can decide whether to act on it.

 

Now the company has rolled out a special “Trump trigger.” The trigger “gives you the ability to trade stocks based off of Trump’s tweets about public companies,” the startup wrote. Basically, the trigger works by notifying you if Trump tweets about a publicly traded stock that you own, in real time.

 


Trigger characterized the Trump trigger as the first step toward the startup using “not just price based data but relevant world events to condense into simple IF this, THEN that rules.” Expect a bunch of varied types of financial signals in the future.

Good, now they just need to expand this to FX, and ultimately, Treasuries which will likely be the last finaly class impacted by Trump’s tweeting.

The post Time Warner Slides On Report Trump Still Opposes AT&T Merger appeared first on crude-oil.top.

Time Warner Slides On Report Trump Still Opposes AT&T Merger

Slowly but surely, Trump is dismantling the massively overpriced market, one stock at a time, and after taking a detour into the world of FX earlier when he slamming the Peso for the second time this week when he warned Toyota not to build a planta in Baja, Mexico, moments ago Time Warner slumped on Bloomberg news that Trump has told a confidant that he still opposes the AT&T- TIme Warner deal.

  • TIME WARNER FALLS 3.8% AS TRUMP SAID TO OPPOSE AT&T DEAL
  • TRUMP SAID TO TELL CONFIDANT HE STILL OPPOSES AT&T-TIME WARNER

As a reminder, he explicitly said during his presidential campaign that he would seek to undo this deal, as such it probably should not come as a major surprise, and yet…

And for those who feel they are unable to keep up with Trump’s non-stop tweeting, and its impact on various asset classes, there is good news: as Yahoo reports, there is now an app alerting you whenever Trump tweets about stocks you own.

The free iPhone app works by letting you set up financial “triggers,” which you can then use to guide your investment decisions. For example, you can set a reminder to sell a stock when its price reaches a certain level, moves a specific percentage, hits a one-year low or high, and so on. When the condition occurs, Trigger sends you a notification, and you can decide whether to act on it.

 

Now the company has rolled out a special “Trump trigger.” The trigger “gives you the ability to trade stocks based off of Trump’s tweets about public companies,” the startup wrote. Basically, the trigger works by notifying you if Trump tweets about a publicly traded stock that you own, in real time.

 


Trigger characterized the Trump trigger as the first step toward the startup using “not just price based data but relevant world events to condense into simple IF this, THEN that rules.” Expect a bunch of varied types of financial signals in the future.

Good, now they just need to expand this to FX, and ultimately, Treasuries which will likely be the last finaly class impacted by Trump’s tweeting.

The post Time Warner Slides On Report Trump Still Opposes AT&T Merger appeared first on crude-oil.top.

DOE <b>Crude Oil</b> Inventories: -7.1M

DOE crude oil inventories: -7.1M. Consensus: -1.8M. Prior: 0.6M. Distillate inventory change: +10.0M. Consensus: -0.8M. Prior: -1.9M. Gasoline …The post DOE <b>Crude Oil</b> Inventories: -7.1M appeared first on crude-oil.top.

DOE <b>Crude Oil</b> Inventories: -7.1M

DOE crude oil inventories: -7.1M. Consensus: -1.8M. Prior: 0.6M. Distillate inventory change: +10.0M. Consensus: -0.8M. Prior: -1.9M. Gasoline …The post DOE <b>Crude Oil</b> Inventories: -7.1M appeared first on crude-oil.top.

Trump Threatens Toyota: “Build New Plant In The US Or Pay Big Border Tax”

Poor Mexico just can’t catch a break.

After its currency crashed to record lows this week after Ford cancelled plans to build a $1.6 billion plant in Mexico, prompting the central bank to intervene and sell $1 billion USD to stabilize the currency, moments ago Trump lobbed another shot at Mexico, this time threatening Toyota with paying a big border tax if it building its new pant in Baja instead of the US.

Just around 1:15pm Eastern, Trump tweeted: “Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax”

Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax.

— Donald J. Trump (@realDonaldTrump) January 5, 2017

Sure enough the selling in the Peso has resumed, and it is now back to where it was before Banxico wasted $1 billion in reserve to push it higher.

 

It’s not just the peso though: TOYOTA ADRS DROP TO SESSION LOW ON TRUMP TWEET.

The post Trump Threatens Toyota: “Build New Plant In The US Or Pay Big Border Tax” appeared first on crude-oil.top.

Trump Threatens Toyota: “Build New Plant In The US Or Pay Big Border Tax”

Poor Mexico just can’t catch a break.

After its currency crashed to record lows this week after Ford cancelled plans to build a $1.6 billion plant in Mexico, prompting the central bank to intervene and sell $1 billion USD to stabilize the currency, moments ago Trump lobbed another shot at Mexico, this time threatening Toyota with paying a big border tax if it building its new pant in Baja instead of the US.

Just around 1:15pm Eastern, Trump tweeted: “Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax”

Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax.

— Donald J. Trump (@realDonaldTrump) January 5, 2017

Sure enough the selling in the Peso has resumed, and it is now back to where it was before Banxico wasted $1 billion in reserve to push it higher.

 

It’s not just the peso though: TOYOTA ADRS DROP TO SESSION LOW ON TRUMP TWEET.

The post Trump Threatens Toyota: “Build New Plant In The US Or Pay Big Border Tax” appeared first on crude-oil.top.

The Chinese Chart That Keeps The IMF Up At Night

As the IIF reported yesterday, in the first 9 months of 2016 global debt rose by $11 trillion, hitting an all time high of $217 trillion, ro 325% of world GDP. Of this increase, the IIF said that China accounted for the “lion’s share” and while China’s relentless debt-funded stimulus continues to be ignored by markets, one other organization that begins with I and ends with F has also noticed that China has a big problem.

As the IMF recently wrote in its IMFDirect blog, China urgently needs to tackle its corporate-debt problem before it
becomes a major drag on growth in the world’s No. 2 economy. Corporate
debt has reached very high levels and continues to grow.

The International Monetary Fund then lays out at the dimensions of the problem:

From 2009 to 2015, credit grew very rapidly by 20 percent on average per year, much more than growth in nominal gross domestic product. What’s more, the ratio of non-financial private credit to GDP rose from around 150 percent to more than 200 percent, or about 20-25 percentage points higher than the historical trend. Such a “credit gap” is comparable to those in countries that experienced painful deleveraging, such as Spain, Thailand, and Japan.

It then combines the four nations debt/GDP in one chart, and shows the one chart that keeps it up at night.

The chart above make it obvious that unless something changes, and fast, the biggest growth dynamo behind global growth over the past decade – remember, as Kyle Bass so conveniently reminded us, China’s banking system has over $30 trillion in financial assets, debt asied – is about to short circuit.

Why the unprecedented debt growth? Simple: this corporate credit boom reflected the government efforts to stimulate the economy in the wake of the global financial crisis, largely through lending for infrastructure and real estate. The outcome: overbuilding and a severe overhang of unsold properties, especially in lower-tier cities, along with excess capacity in related industries such as steel, cement and coal. The combination of heavy borrowing and falling profits led to excessive debt loads. The problem has been worst among state-owned enterprises that benefit from preferential access to financing and implicit government guarantees, which lower the cost of borrowing.

The IMF then proposes several solutions: First, the government should make a high-level decision to stop financing weak companies, strengthen corporate governance, mitigate social costs and accept likely slower growth in the near term. It needs buy-in at every level—state-owned enterprises, local governments, and financial supervisors. Here are the other steps China’s government can take:

  • Triage: Identify companies in financial difficulty and distinguish between those that should be restructured and those “zombie” companies that have no hope of survival and that should be allowed to exit. Because of the existing links between state-owned banks and corporations, a new agency could be created to perform this role.
  • Recognize losses: Require banks to recognize and manage impaired assets. So-called shadow banks—trust, securities and asset-management companies—should also be forced to recognize losses.
  • Share the burden: Allocate losses among banks, corporates, investors and, if necessary, the government.
  • Harden budget constraints—especially on state owned enterprises—by improving corporate governance and removing implicit guarantees to prevent further misallocation of credit and losses.

It then adds that, for now, “risks appear manageable” but only if the problem is addressed promptly.  And this is where the IMF suffers from a tremendous cognitive disconnect, when it says that “indeed, it is encouraging that the government has recognized the problem and is taking action to address it.”

Alas, that is not true, because while the government has indeed recognized the problem, it sternly refuses to address it, and instead just last year injected a record amount of debt in the system, even as total debt/GDP in China has now risen to 300%, according to the IIF.

The same lack of willingness to address any of China’s lingering structural problems can be noted in most other aspects of its financial system: from overhauling insolvent enterprises and failing to recognize the true extent of NPLs (the recent overtures in debt-for-equity are, sadly, far too modest to make any impact), to implementing broad bankruptcy reform (over fears of millions of workers losing their jobs in zombie enterprises), to the biggest elephant in the room: China’s currency woes, which instead of being “internationalized” is being increasingly pressured by the PBOC to trade at a given level due to concerns of soaring capital outflows limited by China’s reserve base.

It remains to be seen just when the chart that keeps the IMF up at night will lead to nightmares for others; for now, however, everyone is blissfully ignoring what may be the biggest problem in the world.

The post The Chinese Chart That Keeps The IMF Up At Night appeared first on crude-oil.top.

The Chinese Chart That Keeps The IMF Up At Night

As the IIF reported yesterday, in the first 9 months of 2016 global debt rose by $11 trillion, hitting an all time high of $217 trillion, ro 325% of world GDP. Of this increase, the IIF said that China accounted for the “lion’s share” and while China’s relentless debt-funded stimulus continues to be ignored by markets, one other organization that begins with I and ends with F has also noticed that China has a big problem.

As the IMF recently wrote in its IMFDirect blog, China urgently needs to tackle its corporate-debt problem before it
becomes a major drag on growth in the world’s No. 2 economy. Corporate
debt has reached very high levels and continues to grow.

The International Monetary Fund then lays out at the dimensions of the problem:

From 2009 to 2015, credit grew very rapidly by 20 percent on average per year, much more than growth in nominal gross domestic product. What’s more, the ratio of non-financial private credit to GDP rose from around 150 percent to more than 200 percent, or about 20-25 percentage points higher than the historical trend. Such a “credit gap” is comparable to those in countries that experienced painful deleveraging, such as Spain, Thailand, and Japan.

It then combines the four nations debt/GDP in one chart, and shows the one chart that keeps it up at night.

The chart above make it obvious that unless something changes, and fast, the biggest growth dynamo behind global growth over the past decade – remember, as Kyle Bass so conveniently reminded us, China’s banking system has over $30 trillion in financial assets, debt asied – is about to short circuit.

Why the unprecedented debt growth? Simple: this corporate credit boom reflected the government efforts to stimulate the economy in the wake of the global financial crisis, largely through lending for infrastructure and real estate. The outcome: overbuilding and a severe overhang of unsold properties, especially in lower-tier cities, along with excess capacity in related industries such as steel, cement and coal. The combination of heavy borrowing and falling profits led to excessive debt loads. The problem has been worst among state-owned enterprises that benefit from preferential access to financing and implicit government guarantees, which lower the cost of borrowing.

The IMF then proposes several solutions: First, the government should make a high-level decision to stop financing weak companies, strengthen corporate governance, mitigate social costs and accept likely slower growth in the near term. It needs buy-in at every level—state-owned enterprises, local governments, and financial supervisors. Here are the other steps China’s government can take:

  • Triage: Identify companies in financial difficulty and distinguish between those that should be restructured and those “zombie” companies that have no hope of survival and that should be allowed to exit. Because of the existing links between state-owned banks and corporations, a new agency could be created to perform this role.
  • Recognize losses: Require banks to recognize and manage impaired assets. So-called shadow banks—trust, securities and asset-management companies—should also be forced to recognize losses.
  • Share the burden: Allocate losses among banks, corporates, investors and, if necessary, the government.
  • Harden budget constraints—especially on state owned enterprises—by improving corporate governance and removing implicit guarantees to prevent further misallocation of credit and losses.

It then adds that, for now, “risks appear manageable” but only if the problem is addressed promptly.  And this is where the IMF suffers from a tremendous cognitive disconnect, when it says that “indeed, it is encouraging that the government has recognized the problem and is taking action to address it.”

Alas, that is not true, because while the government has indeed recognized the problem, it sternly refuses to address it, and instead just last year injected a record amount of debt in the system, even as total debt/GDP in China has now risen to 300%, according to the IIF.

The same lack of willingness to address any of China’s lingering structural problems can be noted in most other aspects of its financial system: from overhauling insolvent enterprises and failing to recognize the true extent of NPLs (the recent overtures in debt-for-equity are, sadly, far too modest to make any impact), to implementing broad bankruptcy reform (over fears of millions of workers losing their jobs in zombie enterprises), to the biggest elephant in the room: China’s currency woes, which instead of being “internationalized” is being increasingly pressured by the PBOC to trade at a given level due to concerns of soaring capital outflows limited by China’s reserve base.

It remains to be seen just when the chart that keeps the IMF up at night will lead to nightmares for others; for now, however, everyone is blissfully ignoring what may be the biggest problem in the world.

The post The Chinese Chart That Keeps The IMF Up At Night appeared first on crude-oil.top.