The doors to a flooded @Apple Store in #Houston appear to have been shot at with a firearm. Looters have been rampant. #harveyflood#Harvey
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Houston Reeling Amid Outbreak Of Looting, Armed Robberies; Vigilantees Emerge
Houston Reeling Amid Outbreak Of Looting, Armed Robberies; Vigilantees Emerge
Inevitably every major metropolitan crisis brings out the best and worst of what humanity has to offer. While hundreds/thousands of people have rushed into Houston following the epic destruction of Hurricane Harvey to help in any way possible, others have once again predictably chosen to exploit the misery of others by looting abandoned shopping centers, robbing empty homes and even breaking into the Houston Apple Store (by shooting through the front door).
In fact, just last night Houston’s Mayor was forced to impose a strict midnight to 5am curfew amid “an outbreak of looting and armed robberies“, in order to prevent property crimes against evacuated homes in the city. As Reuters notes, the curfew came after, among other things, reports surfaced of people impersonating police officers all so they could tell residents to evacuate their homes and then promptly rob them blind.
That proved too little for county officials who set up their own location as an outbreak of looting and armed robberies prompted the city to order an indefinite curfew from midnight to 5 a.m. (0500 to 1000 GMT).
Houston Police Chief Art Acevedo said late Tuesday individuals impersonating police officers knocked on doors in at least two parts of the city telling residents to evacuate their homes.
Imposing curfew from 10 pm to 5 am to stop any property crimes against evacuated homes in city limits.
…click on the above link to read the rest of the article…
The World Hits Its Credit Limit, And The Debt Market Is Starting To Realize That
The World Hits Its Credit Limit, And The Debt Market Is Starting To Realize That
One month ago, when looking at the dramatic change in the market landscape when the first cracks in the central planning facade became evident and it appeared that central banks are in the process of rapidly losing credibility, and the faith of an entire generation of traders whose only trading strategy is to “BTFD”, we presented a critical report by Citigroup’s Matt King, who asked “has the world reached its credit limit” summarized the two biggest financial issues facing the world at this stage.
The first is that even as central banks have continued pumping record amount of liquidity in the market, the market’s response has been increasingly shaky (in no small part due to the surge in the dollar and the resulting Emerging Market debt crisis), and in the case of Junk bonds, a downright disaster. As King summarized it “models linking QE to markets seem to have broken down.”
Needless to say this was bad news for everyone hoping that just a little more QE is all that is needed to return to all time S&P500 highs. And while this concern has faded somewhat in the past few weeks as the most violent short squeeze in history has lifted the market almost back to record highs even as Q3 earnings season is turning out just as bad, if not worse, as most had predicted, nothing has fundamentally changed and the fears over EM reserve drawdown will shortly re-emerge, once the punditry reads between the latest Chinese money creation and capital outflow lines.
The second, and far greater problem, facing the world is precisely what the Fed and its central bank peers have been fighting all along: too much global debt accumulating an ever faster pace, while global growth is stagnant and in fact declining.
…click on the above link to read the rest of the article…
