SaxoBank CIO Warns "Central Banks Can Do Nothing"
Authored by SaxoBank's Michael McKenna via Tradingfloor.com,
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Meanwhile In The U.S. Congress: "Chaos And Shouting" After LGBT Measure Fails To Pass
The US economy must be truly fixed and all geopolitical conflicts resolved, because as the world enjoys its global utopia on a day when yet another airplane was taken down by terrorist according to the latest news, the US Congress is busy dealing with stuff like this: according to the Hill, "the house floor devolved into chaos and shouting on Thursday as a measure to ensure protections for members of the LGBT community narrowly failed to pass after Republican leaders urged their members to change their votes."
Preet Bharara Press Conference On Dean Foods Insider Trading Scandal That Snagged Phil Mickelson
Over a decade ago, the US cracked down on Marth Stewart as an example of all that is wrong with the US financial system. The same US which did not put any bankers in prison after the financial crisis. We now get a repeat. The United States Attorney for the Southern District of New York Preet Bharara announces charges against William “Billy” Walters and Thomas Davis, the former Chairman of the Board of Directors of Dean Foods Company, for insider trading.
Meanwhile, the real criminals, the real central banks, the HFTs, all continue to rig and manipulate markets day after day...
Fed Looks For Rate Rise; Small Businesses Could Struggle With Hike
With the Fed’s Lacker intimating there could be as many as four rate hikes this year, the already floundering small-business-economy could see an increase in SBA loan rates.
Why?
The U.S. Government sets a maximum interest rate for all of the loans it backs. That maximum rate is composed of a base rate + a variable rate, which is negotiated between funding institutions and the businesses, and generally sits between 5.75% and 8.25%, depending on loan term and amount.
Chinese Fighter Jets Intercept US Spy Plane Over South China Sea
China has called on the United States to stop its close reconnaissance activities after the Pentagon reported that two Chinese fighter jets intercepted a US military spy aircraft over the South China Sea. “Two tactical [J-11s] aircraft from the People’s Republic of China” intercepted the Navy EP-3 Orion, a US maritime reconnaissance aircraft, which was on a “routine patrol” in international airspace, Defense Department spokesperson Lieutenant Colonel Michelle Baldanza told NBC News. Baldanza said: “The Chinese jets flew by the US aircraft at a distance of approximately 50 feet (15 meters).