Europe

Germany may be careening towards a head on-collision when it comes to Europe’s worsening migrant crisis, but tragically, the country had a very real fatal train wreck on Tuesday when two commuter trains crashed near Bad Aibling, in Bavaria.

Just before 7 a.m. two regional trains collided on a rail line which Bloomberg notes "is commonly used by commuters heading to work in Munich, and would normally also carry children traveling to school."

With China offline for the rest of the week, global markets have found a new Asian bogeyman in the face of Japan which as reported last night saw its markets crash, and the Yen soar, showing that less than 2 weeks after the BOJ unveiled NIRP, yet another central bank has lost control.

Late last month, in what amounted to a tacit admission that nothing is working when it comes to pulling Japan out of its decades’ long stint in the deflationary doldrums, the BoJ adopted negative rates.

As we detailed previously, back on September 11, Zero Hedge predicted the events which unfolded in Paris last Friday (and the resulting aftermath) with uncanny accuracy. Specifically, we said that 

Over the weekend, we presented a comprehensive step by step analysis laying out both the mechanics (and implications) of the Fed unleashing NIRP in the US when the time comes: a time which as JPM further defined, would be characterized by "recession-like conditions." In other words, right about now if Yellen so chose.