Month: January 2015

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French President Francois Hollande has announced that the Charles de Gaulle aircraft carrier is ready for use in military operations against Islamic State in Iraq. The warship is to work in cooperation with coalition forces combatting the militants.
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Many European countries are on high alert, boosting security measures in the wake of last week’s deadly terror attacks in Paris. Denmark, Norway and Germany have already detected various threats.
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Three million copies of satirical magazine Charlie Hebdo have reportedly sold out within an hour across Paris and just a week after the fatal shooting, the Internet is awash with ‘Je Suis Charlie’ merchandise.
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The Nazi-era term “Luegenpresse” (lying press) used by anti-immigrant protesters at PEGIDA rallies has been named non-word of the year by German linguists. The country’s anti-Islamic movement, criticized for its xenophobic slogans, is on the rise.
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A natural gas pipeline exploded at the Ross Barnett Reservoir in Mississippi on Wednesday morning, causing a massive fire, local US media reported. There have been no immediate reports of injuries.
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Amid the surge of anti-Islam sentiments in Europe, PEGIDA spokesman Udo Ulfkotte told RT that the movement does not promote xenophobia, but rather tries to prevent Christian culture from mixing with Islamic traditions in a multicultural cocktail.
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The threat of a possible toxic leak in the US sector of the ISS forced the American astronauts on board to isolate their module and move to the Russian sector. The hatch was reopened hours later after no leak was detected, NASA reported.
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Men have a reputation for being ladykillers, but there’s some good news from a new study, which shows that when women are in short supply, men are more likely to seek long-term relationships.
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Fire and ice have crashed together at the edge of the world for a stunning performance, captured by RT’s Ruptly agency. The Holuhraun lava field has spread across an area greater than the island of Manhattan in the largest eruption since the 18th century.
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Yesterday, during his conference call, in the context of the collapse in the US shale industry, DoubleLine’s Jeff Gundlach said something that we first noted over a month ago: that “all of the job growth in the (economic) recovery can be attributed to the shale renaissance.” He was likely looking at the following chart from a Manhattan-Institute report:

And while he added that if low oil prices remain, the U.S. could see a wave of bankruptcies from some (or most) leveraged energy companies which we also observed two months, there is a different and perhaps far more important tangent to the above chart. 

Wages.

Because recall that now that the unemployment rate is an artificially low 5.6% thanks to a record number of Americans out of the labor force (all that would need to happen for the jobless rate to double is for 8 million of the 93 million American not in the labor force to return to it for whatever reason), the one key indicator that the Fed is focusing on, is average weekly compensation. And as those who followed last Friday’s jobs report recall all too well, in December nominal wages saw their biggest monthly plunge in years.

So our question is this: if indeed the shale boom is now turning to bust, and if indeed the vast majority of jobs created were thanks to the shale revolution (which is about to go in reverse), what happens to the primary source of high-paying jobs: the energy sector?

Before you answer, take a look at the following chart, courtesy of the Dallas Fed.

via Zero Hedge Read More Here..