• bugs_
    04/01/2015 - 08:45
    Domestic energy production continues to increase despite the anticipated shale shakeout.  The precipitous decline in gasoline prices were welcomed by most but government exise tax revenue was in...

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America's Most And Least Drugged States

Almost one quarter of Americans regularly "take drugs to affect their mood and help them relax" according to the latest poll by Gallup; but which states are the most (and least) medicated?



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For First Time In History, California Governor Orders Mandatory Water Cuts Amid "Unprecedented, Dangerous Situation"

For the first time in the state's history, Governor Jerry Brown has directed the State Water Resources Control Board to implement mandatory water reductions across California, in an effort to reduce water usage by 25 percent.



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Clintons Unveil Official 2016 Hillary Campaign Button

Not an April Fool?



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Grandson Of Oil Tycoon J. Paul Getty Found Dead, "Traumatic Injury To Rectal Area" Alleged Source Of Death

In a story which we initially thought was an early April fool's prank, but subsequently turned out to be all too real, and all too tragic, yesterday afternoon Andrew Rork Getty, the 47-year-old grandson of oil tycoon J. Paul Getty who once was the richest living man in the world and member of the Getty trust, was found dead at his Hollywood Hills home, the latest chapter in a saga involving the Getty family which has seen kidnappings (including a tax-deductible ransom payment), mutilations, drug use and now, allegedly, murder.



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The Committee To Destroy The World

Now we can see the real tragedy of negative interest rates: they not only have the perverse effect of reversing the flow of time, but they demonstrate that borrowers are not acting with the good faith incentives normally associated with someone who needs money. Rather than paying forward, borrowers are paying backwards because they are effectively trying to return something they don’t want. Such an arrangement renders it impossible for an economy to grow. By destroying the temporal and moral structure of money, negative interest rates destroy the economy. When tomorrow cannot be paid, the current regime must fail. The only question to be determined is the form that failure will assume. This may sound like philosophy but it is cold, hard reality.



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Companies Go All-In Before Rate Hike, Issue Record Debt In Q1

Not only did Q1 mark a record quarter for issuance, March supply also hit a record at $143 billion, tying the total put up in May of 2008. It should come as no surprise that Q1 was a banner quarter for corporate debt issuance as struggling oil producers tapped HY markets to stay afloat and companies scrambled to max out the stock-buyback-via-balance-sheet re-leveraging play before the Fed hike rates.



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The Two Most Important Numbers Of The First Quarter

Now that the Atlanta Fed has determined that the US economy did not grow in the first quarter of the year - because, well,  it snowed - even though said snow did not prevent the US from raking up $100 billion in public debt through March 30 (and likely much more, however since the US has again hit its debt ceiling we won't know the real level of US debt until some time in October), we can formally summarize the two most important changes in the US economy in the first three months of the year. Here they are.



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Iceland Stuns Banks: Plans To Take Back The Power To Create Money

Who knew that the revolution would start with those radical Icelanders? It does, though. One Frosti Sigurjonsson, a lawmaker from the ruling Progress Party, issued a report today that suggests taking the power to create money away from commercial banks, and hand it to the central bank and, ultimately, Parliament.



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Bad News Is Good: Companies Issuing Positive Guidance Lowest Since 2006

For Q1 2015, only 16 companies issued positive EPS guidance, the lowest count in nearly a decade and not only do investors seemingly not care, they have, in their infinite wisdom, bid up shares by nearly 2%!



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Goodbye FICO, Hello FAKE-O: Behold The Banks' Brilliant "Plan" To Lend To Deadbeats

When gaming the old score wasn't sufficient to expand the pool of elligible borrowers, creativity was necessary. The result: an entirely new score is born...



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"Market" Hits A New Low: Algos Fall For An April Fool's Joke, Send TSLA Surging On Massive Volume

One just has to laugh at this point.



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5 Truly Crazy Assertions From Jamie Dimon's Barron's Cover Story

Barron’s should have published its gushing cover story on Jamie Dimon’s stewardship of JPMorgan todayas an April Fool’s joke.



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