10/11/18

NoisyRoom.net Has Been Disabled By Facebook In A Massive Purge

By: Terresa Monroe-Hamilton

As you may or may not know, there was a massive purge at Facebook this morning. Suddenly, both my personal account and NoisyRoom’s were disabled. I contested it and sent in my ID, but I hold little hope that it will do a lick of good. I’ve been censored over there.

For those of you who read what I write, you know that I did not violate any standards. In fact, I don’t send out most of what I write. I send on big news links and a few memes. It was enough to get me banned and the pages are simply gone.

I am still on Twitter at terresamonroe if you want to reach me there or you can always email me at terresa AT noisyroom.net.

I knew this would eventually happen but kept telling myself why would they do this to legitimate writers and researchers? Well, that’s not the point, is it? This is very political and anyone who supports conservatives or those on the right is in the crosshairs.

I will keep blogging and will have more to say on this once I cool off. Never be afraid to speak up and don’t quit out there. I sure as hell won’t. Read the media’s take on this below – anyone who knows me knows my pages were not like this at all.

From the Washington Post:

Facebook said on Thursday it has purged more than 800 U.S publishers and accounts for flooding users with politically-oriented content that violated the company’s spam policies, a move that could reignite accusations of political censorship.

The accounts and pages, with names like Reasonable People Unite and Reverb Press, were likely domestic actors using clickbait headlines and other spammy tactics to drive users to websites where they could target them with ads, the company said. Some had hundreds of thousands of followers and expressed a range of political viewpoints, including a page which billed itself as “the first publication to endorse President Donald J. Trump.” They did not appear to have ties to Russia, company officials said.

Facebook said it was not removing the publishers and accounts because of the type of content they posted, but because of the behaviors they engaged in, including spamming Facebook groups with identical pieces of content and using fake profiles.

“Today, we’re removing 559 Pages and 251 accounts that have consistently broken our rules against spam and coordinated inauthentic behavior,” the company said in a blog post. “People will only share on Facebook if they feel safe and trust the connections they make here.”

But the move to target American politically-oriented sites, just weeks before the Congressional midterms, is sure to be a flashpoint for political groups and their allies, who are already attacking the tech giant for political bias and for arbitrary censorship of political content.

Ever since Russian operatives used Facebook to target American voters ahead of the 2016 U.S. presidential election, Facebook has been under immense pressure to crack down on content that could disrupt the democratic process in the U.S. But the challenge of policing domestic content is even thornier than going after foreign interference because it harder to define what constitutes legitimate political expression. By removing the groups entirely, Facebook is effectively saying that they will not have an opportunity to redeem themselves.

One of the pages — “Nation In Distress” — pitched itself as the “first online publication to endorse President Donald J Trump.” Founded in 2012, it had amassed more than 3.2 million likes and over 3 million followers, according to Washington Post review on Thursday. In recent posts and photos, it had criticized journalists for failing to report on Trump’s approach to China and shared a link to a story that had called Rep. Maxine Waters “demented.” The page affiliated itself with a website called “America’s Freedom Fighters,” which appeared to post its own content and duplicate press releases written by others about violent crimes and gun rights — all alongside a sidebar of ads.

Another page, Reverb Press, had over 700,000 followers. Posts attacked President Trump and referred to Republicans as “cheating scumbags.” A third left-leaning page, Reasonable People Unite, posted a screenshot from a Twitter user who said, “Somewhere in America, a teenage girl is listening to her parents defend Brett Kavanaugh and she is thinking to herself, if something like that happens to me, I have nowhere to go.”

More on the media’s hit job can be found here. This is full of lies.

10/11/18

Will The Sell-Off Accelerate?

By: Kent Engelke | Capitol Securities

Will the selloff accelerate? A reason for the equity decline is the rise in interest rates. As noted many times, capitalization and liquidity have been sacrificed for speed and cost of execution. Such a scenario is creating a liquidity crisis.

Until yesterday, the two-day selloff of bonds from ETFs was generally orderly. However, with this written, major fissures are now appearing as many platforms have withdrawn from the markets creating a possible vacuum. If there are no buyers, what or who will support prices?

As noted a gazillion times bond trading mechanics have changed exponentially where money center bank bond inventories are down over 90% from 2008 levels. Total debt is up over 200%.

I can write with some certainty the selloff in equities is also the result of the lack of liquidity. There are emerging stories of market stabilizing mechanisms withdrawing from the equity markets in a similar manner as to what occurred in the early February swoon.

Bloomberg writes that yesterday was the eighth time this year the S & P 500 fell more than 2%, the greatest number since 2011. Last year there were zero 2% down days. Bloomberg further writes since 1980 the frequency of 2% declines in a non-recession year was less than 6 days. The S&P 500 declined 3.3%.

The NASDAQ 100, or the largest companies that comprise the NASDAQ, fell 4.4% yesterday, its worst drop since 2011. The NASDAQ Composite was off 4.1%, the biggest loss since 2016.

Will earnings rescue equities? As noted many times, EPS growth is greater for the “value” firms as compared to “growth.” The issue at hand is everyone owns growth creating the largest disparity between growth and value in history, a disparity amplified by the massive proliferation of ETFs.

Circling back around to the Treasury markets, Treasuries closed nominally unchanged but I can write with absolute certainty the typical municipal or corporate bond was down, the result of continued ETF selling. Treasuries were supported by a possible “flight to quality bid.”

What will happen today? Earnings season commences tomorrow with the release of three money center banks’ third-quarter results.

Last night the foreign markets were down. London was down 1.62%, Paris was down 1.56% and Frankfurt was down 1.10%. China was down 6.54%, Japan was down 3.89% and Hang Sang was down 3.52%>

The Dow should open sharply lower following a selloff in the foreign markets. The selloff is being blamed on a number of events. I think the three most significant are rising interest rates, a massive concentration of wealth in a few sectors and the extreme popularity of the index trade, and the potential implications of a massive intrusion/hacking into the technology supply chain.

The 10-year is off 3/32 to yield 3.18%.