In a world in which every nation is now part of the race to debase their currency, or as the Brazilian finance minister first dubbed it in 2010, a "global currency war", the first and foremost imperative on every central bank's agenda is to devalue its currency faster than its net exporting peers.
McDonalds Corporation, the world’s leading dealer of GMOs and Frankenfoods, is teetering on the brink of financial collapse thanks to a global awakening regarding the dangers of toxic, commercially processed “food.” “People around the world are waking up to the fact they have been conned by McDonalds,” said John Grits, a restaurant industry consultant with Food Consultants Group.
After a brief hope-strewn bounce in September and October, world trade volumes have reverted to their recent stagnating growth trend, drooping 0.1% MoM in November as world industrial production swoons 0.4% MoM. On a smoothed year-over-year basis, world trade volume growth is decelerating at the fastest pace since Q4 2012 (right before QE3 was announced to save the world) and world industrial production growth is near its weakest since Q4 2008.
Excerpted from Doug Noland's Credit Bubble Bulletin,
With the fourth quarter earnings season in progress, some 15% of S&P 500 companies have already reported resulted for the past quarter, and while 73% have beat EPS thanks to such pathetic gimmicks as Intel's effective tax rate collapse, less than half of companies (or 49%) have beat on the top line.